The Village Board of Trustees met in regular session at 7:00 p.m. on January 18, 2010 with Buckley, Surman, Weyers and Wenzel present. Jacobsen arrived at 7:04 p.m. The Agenda items listed thereon were sufficiently descriptive to give the public reasonable notice of the matters to be considered at the meeting. The Chair, at the beginning of the meeting, informed the public about the location of the posted current copy of the Open Meetings Act. Chairperson Wenzel named the three (3) areas where the agenda was posted as follows: Community Building, Village Clerk's Office, and the Coop.

Gary Pavel to discuss Village audit - Pavel explained the audit ending September 30, 2009. He said the unreserved fund balance was $656,900 and the expenditures excluding capital expenditures and improvements is $857,702. He said he likes to compare these two figures because that tells if the Village would be running into a cash flow problem. Pavel said there was a lot spent last year due to the project in the park. Pavel said Paul Grieger (D A Davidson) who was interested in the Village's cash availability. He said you need to keep as much cash available so they can justify re-bonding the Wastewater Treatment Facility Loan. Pavel said Grieger plans on talking with him the following week and he was interested to know if the Board would prefer GO Bonds or Revenue Bonds. Pavel said GO Bonds you would get a vote of the people and there are bonds that are issued. He said GO Bonds would be exempt from the lid so you could request property tax for paying the bond principal and interest and the lid will not be effected. He said the Revenue Bonds would come from the sewer and currently they are paid out of the sewer fund but with the payment jumping up; if Grieger can spread out the payments on a Revenue Bond the payments will not jump up as drastically. He said there is only one bond payment left next November and that is through bonding and all of this will have to piece together. Grieger will have to put together a bonding plan that will come up with this. Wenzel said no one will be happy with a property tax increase and they will not be happy with a sewer rate increase. Surman felt we would hear more from the residents if it went on the sewer rate increase rather than property tax. Pavel said Grieger is leaning towards GO Bonds versus Revenue Bonds. Wenzel said we could pay off the 1998 Water Bond which was discussed and agreed upon during budget time. Grieger will be at an upcoming meeting for further discussion on bonds.

Report on Streets and Maintenance - Schukei said snow removal is where most of their time has been spent. Wenzel suggested hauling the snow away using roll offs and placing them on the corners where the snow needed to be removed.

Report on Wells and Sewer - Schukei said there was an issue with a motor out at one of the pumps at the lift station in Eagle Estates and it is being repaired now. Wenzel asked if there was a warranty on the pump. Schukei was unsure of this. He said the other pump they were having issues with was plugged with a huge ball of human hair. He said a grinder pump will do a lot of things but it will not chew up hair.

Open Forum - No one present.

Motion by Buckley, second by Weyers, to approve the previously typed minutes from the last meeting. Voting: Ayes- 5. Motion carried.

Motion by Buckley, second by Surman, to accept Taylor Maahs as a member on the Volunteer Eagle & Fire Department contingent that he is located in our District. Voting: Ayes - 5. Motion carried.

Motion by Buckley, second by Jacobsen, to go into executive session at 7:52 p.m. to discuss personnel. Voting: Ayes - 5. Motion carried.

Motion by Surman, second by Buckley, to come out of executive session at 8:11 p.m.

Chairperson Wenzel said we have come out of executive session after an employee's performance and Olsson's Associates was discussed. No action was taken.

Motion by Surman, second by Buckley, to adjourn the meeting at 8:11 p.m. Voting: Ayes - 5. Motion carried.

________________               _________________
Donna Stevens                         Mike Wenzel
Village Clerk                              Chairperson

A true and complete copy of the above minutes is available at the Village Clerk's Office during regular business hours.