THE SPECIAL BOARD MEETING OF THE VILLAGE BOARD OF COLFAX WAS CALLED TO ORDER AT 6:30 P.M. ON WEDNESDAY EVENING, AUGUST 21, 2013 BY MAYOR RICARDO ONKEN.

TRUSTEES PRESENT WERE: RICK VANCE - AYE; DAVID RATHKE - AYE; JASON PIERCE - AYE; CAROL STEPHENSON - AYE; LONNIE MEINER - AYE; KELLY GRADERT - AYE;

ALSO PRESENT WAS SUPERINTENDENT DAMON GETTY.

THIS SPECIAL MEETING WAS CALLED TO MAKE A DECISION ON WHETHER TO PURCHASE THE REMAINING WATER METERS TO FINISH UPDATING THE VILLAGE. THE MEETING IS ALSO TO MAKE A DECISION WHETHER TO BORROW THE MONEY NEEDED FOR PURCHASING THE WATER METERS FROM PEOPLES STATE BANK OF COLFAX.

TRUSTEE JASON PIERCE, CHAIRMAN OF THE FINANCE AND AUDIT COMMITTEE, EXPLAINED TO THE BOARD THAT IT IS THE COMMITTEE'S RECOMMENDATION THAT THE VILLAGE BORROW THE $50,000 FROM PEOPLES STATE BANK OF COLFAX AT AN INTEREST RATE OF 2.75% FOR SIXTY (60) MONTHS WITH A MONTHLY PAYMENT OF $892.89.

TRUSTEE DAVID RATHKE STATED WE HAVE BEEN WORKING ON THIS PROJECT FOR QUITE AWHILE. THEN I AM RIGHT THAT THIS WOULD TAKE CARE OF UPGRADING THE REST OF THE TOWN WITH AUTOMATIC READ METERS.

THE MAYOR ASKED FOR A MOTION. VILLAGE CLERK NANCY KIPER STATED THAT WE WILL NEED TWO SEPARATE MOTIONS ONE FOR BUYING THE WATER METERS AND ONE FOR BORROWING THE MONEY.

TRUSTEE LONNIE MEINER MADE A MOTION TO APPROVE PURCHASING THE REMAINING 240 WATER METERS FROM WATER PRODUCTS AT THE QUOTED PRICE OF $50,062.00 WHICH INCLUDES THE NEW F300 HAND-HELD COMPUTER. TRUSTEE CAROL STEPHENSON SECONDED THE MOTION. VOTE: RICK VANCE - AYE; DAVID RATHKE - AYE; JASON PIERCE - AYE; CAROL STEPHENSON - AYE; LONNIE MEINER - AYE; KELLY GRADERT - AYE; MOTION CARRIED.

TRUSTEE JASON PIERCE MADE A MOTION TO APPROVE FINANCING THE WATER METER PROJECT PURCHASE OF 240 WATER METERS THROUGH PEOPLES STATE BANK OF COLFAX IN THE AMOUNT OF $50,000.00 AT 2.75% FOR SIXTY (60) MONTHS AT $892.89 MONTH. TRUSTEE KELLY GRADERT SECONDED THE MOTION. VOTE: RICK VANCE - AYE; DAVID RATHKE - AYE; JASON PIERCE - AYE; CAROL STEPHENSON - AYE; LONNIE MEINER - AYE; KELLY GRADERT - AYE; MOTION CARRIED.

TRUSTEE RICK VANCE MADE A MOTION TO ADJOURN. TRUSTEE DAVID RATHKE SECONDED THE MOTION. VOTE: RICK VANCE - AYE; DAVID RATHKE - AYE; JASON PIERCE - AYE; CAROL STEPHENSON -AYE; LONNIE MEINER -AYE; KELLY GRADERT - AYE; MOTION CARRIED.

MEETING ADJOURNED AT 6:40 P.M.

RESPECTFULLY SUBMITTED, NANCY KIPER, VILLAGE CLERK