April 2, 2010

 

Special Board Meeting called to order at 9:00 A.M.. Present: Bruce Hokanson, Kerry Tetzner, John Hartzell, Steven Tetzner and Mike Harvey.

Chairman Bruce Hokanson brought up a discussion on purchasing a 2009 JD 772 grader, with 331 hours on it. Jim Hedrick, manager from Nor Trax contacted Bruce for a trade in of our grader with a grader from Hibbing, MN.  Compared trade in prices on our 1997 JD 772 BH grader, between thirty to forty thousand. Nor Trax will sell grader to us for $149,500.00 with the trade in of ours.

Motion by John Hartzell and a second by Steven Tetzner to purchase the 2009 JD 722 grader for $149,500.00 with the trade in of the 1997 JD 772 BH grader. Motion carried, all ayes.

A motion by Steven Tetzner and a second by Bruce Hokanson to pay $50,000.00 down with payments of $22,368.71 at 3.950% interest for five years starting in 2011 for grand total of $111,844.55. Motion carried, all ayes.

Motion and a second to adjourn.

 

 

 

Kerry Tetzner, Clerk