Town of West Sweden- Special Meeting
January 26, 2016
Meeting was called to order by Chairman, Simon Nelson at 6:00 pm. Members present Scott Wilder and Glenn Meier, supervisors; Kevin Taylor, patrolman, and Phyllis Wilder, clerk. No public attended the meeting.
The clerk provided a copy of the notice for the special meeting which was posted on January 21, 2016 at Bremer Bank, Frederic Post Office and the Frederic Public Library. It was also posted on the Town of West Sweden website.
The clerk presented the quote for loans from Bremer Bank: 5 year @ 2.90 or 7 year @ 3.00%; US Bank: 5 year @ 2.99% or 7 year @3.19%, Sterling Bank: 5 year @ 2.50% or 7 year @ 2.85% and Frandsen Bank: 5 year @ 3.95% or 7 year at 3.95%.
Motion to award the loan on the 2015 7400 International Truck to Sterling Bank for 7 year contract at the rate of 2.85% was made by, Glenn Meier, seconded by Scott Wilder. All in favor 3 opposed 0.
The Board of Supervisors approved Resolution #2016-2 the loan to Sterling Bank for 7 years with semi- annual payments to begin February 2017.
Motion to adjourn was made by Scott Wilder, 2nd by Glenn Meier, carried. Time: 6:12 pm
Phyllis Wilder Clerk