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Mr. Greenberg stated that the actual selling of the stocks would have to <br />wait until Mr. Schmidt is feeling well enough to supervise that activity. <br /> <br />City Attorney Goodrich suggested that Mr. Greenber§ and Mr. Menkveld meet <br />with Mr. Schnelle to discuss promotional ideas for the selling of these <br />stocks, and he further added that the stocks will be selling for $50/share. <br /> <br />Mr. Goodrich also stated that the Articles of Incorporation should be amended <br />to bring capitalization up to $50,000, but that cannot be accomplished until <br />there are some actual stockholders in the LDC. <br /> <br />The Board scheduled their next meeting for the 13th of April, 1983. <br /> <br />ADJOURNMENT <br /> <br />Motion by Mrs. Guy and seconded by Mr, Muller to adjourn the meeting of the <br />Board of Directors of the Local Development Corporation. <br /> <br />Motion carried. <br />and Mr. Muller. <br />Mr. Fults. <br /> <br />Voting Yes: <br />Voting No: <br /> <br />Mr. Greenberg, Mr. Menkveld, Mrs. Guy, Mr. Miller <br />None. Absent: Mr. Schmidt, Mr. Schneider and <br /> <br />The meeting adjourned at 8:05 a.m. <br /> <br />Respectfully submitted, <br /> <br />Sylvia Frolik <br />Secretary <br /> <br />Lloyd G. Schnelle <br />City Administrator <br /> <br />LDC/March 22, 1983 <br /> Page 4 of 4 <br /> <br /> <br />