HomeMy WebLinkAbout2017-11-29 IDA MinutesMINUTES
REGULAR MEETING
THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF RIVERSIDE, MISSOURI
Wednesday, November 29, 2017
5:30 p.m.
The Industrial Development Authority of the City of Riverside, Missouri, met in regular session at City Hall,
2950 NW Vivion Road, Riverside, Missouri.
Vice President Frank Biondo called the meeting to order at 5:30 p.m. Answering roll call were Frank Biondo,
Harold Snoderley, and Jason Rule. Also present: Justin Leck, Spencer Fane, Sarah Wagner and Rhonda Smith,
Community Development.
Approval of Minutes Frank Biondo moved to approve the minutes from October 4,
from October 4, 2017 2017.
Comments:
RESOLUTION 2017-
005: A Resolution
Authorizing the Transfer
of Real Property to the
City of Riverside,
Missouri.
RESOLUTION 2017-
006: A Resolution
Authorizing a Change of
Registered Agent and
Registered Office
Adjournment
Harold Snoderley seconded and the motion passed 4-0.
Frank Biondo noted that he had spoken with City Finance
Director Donna Oliver and she said the bond sale was
completed at 9 percent interest and netted $1.75 million and
released $2.5 million in debt services.
Justin Leck from Spencer Fane noted that once the bonds were
paid off all mortgaged properties would revert back to the City
from the Industrial Development Authority. This resolution
authorizes the transfer of the property.
Frank Biondo moved to approve Resolution 2017-005,
seconded by Harold Snoderley. Motion passed 4-0.
Sarah Wagner noted that the former registered agen John
McClelland was no longer associated with the City. The new
registered agent will be Spenserv.
Frank Biondo moved to approve Resolution 2017-006,
seconded by Jason Rule. Motion passed 4-0.
Frank Biondo moved to adjourn the meeting at 6:50 p.m.,
seconded by Jason Rule. Motion passed 4-0.