12-28-1990 HUCM/ 3 - 1:4
Special Meeting
December 28, 1990
Commissioners Daggett, Lyke, Richards and Cornell were present;
Commissioner Beatty was absent; also present were Mgr. Kadrmas
and Jim Bullard and Wendy Kruse of Marquette Bank Hutchinson.
President Daggett called the meeting to order at 4:00 p.m.
Pledged securities at Marquette Bank were discussed. Mr. Bullard
offered repurchase agreements to purchase treasury bonds to replace
Hutchinson Utilities' certificate of deposits before January 1,
1991. Hutchinson Utilities has $3,650,000 in CD's at Marquette
Bank. After discussion, a motion was made by Commissioner Lyke,
seconded by Commissioner Cornell to approve repurchase agreements
to purchase treasury bonds to replace certificate of deposits
contingent to review and approval by legal counsel and clarification
of "rights of secured party." Motion was unanimously carried.
Mgr. Kadrmas presented quotations for a pickup.
Wigens Chevrolet $12,751
Plowman's $12,591
After discussion, a motion was made by Commissioner Lyke, seconded
by Commissioner Cornell to award the quote to Plowman's in the
amount of $12,591. Motion was unanimously carried.
There being no further business, the meeting was adjourned at
4:55 p.m.
G. P. Cornell, Secretary
ATTEST f'
E. Daggett, Pr Ys ent