MINUTES JASPER ECONOMIC DEVELOPMENT CORPORATION

Tuesday, January 13, 2009

6 P.M.Jasper City Hall, 465 S. MainJasper, Texas 75951 

I.          Call to Order:  President Sid Stover, 6:00 p.m. 

Board Members present at meeting: Sid Stover, Jimmy Ellis, Tom Herbst, Eddie Hopkins, Gloria Monzingo, Ed Few, Bill Snelson, Alan Chesnut, Kenneth Brooks, Tressy Morgan and Dan Walker. Also present were Kari Ellis, Steve Stewart of KJAS Radio, Scott Stover, Eric Koch and Joe Molina. 

II.         Prayer – Eddie Hopkins 

III.          Public Comments – There were no public comments 

IV.        Dan Walker moved to approve the minutes of the December 2, 2008 meeting. The motion was seconded by Eddie Hopkins and approved unanimously.

V.            Financial report

        a.       A written financial report was provided, including deposit detail, profit and loss statement and profit and loss     detail, balance sheet and a profit and loss budget vs. actual report. Kari Ellis also presented an oral report.

        b.      Eddie Hopkins moved to accept the financial report as presented. The motion was seconded by Jimmy Ellis and passed unanimously.

VI.            JEDCO Activity Reports

        a.      Kari Ellis submitted a written activity report to the board.  

VII.       New Business

        a.      Eddie Hopkins nominated Bill Snelson as Vice President for the JEDCO board to replace Rita Cummings, who recently resigned. Tressy Morgan seconded the nomination and the vote was unanimous.

         b.      The board defined specific information requested from Terra BioChem in order to become familiar with the company and its development plans in Jasper. Requested information includes:

               a.      Business Plan

               b.      Financial Statement on principals

               c.       Land requirements

               d.      Principal’s financial participation

               e.      Other sources of feed stock besides biodiesel

               f.         Appraisal of the property

               g.      Name of the person from Whitney Bank that is working with Terra BioChem and a copy of the commitment letter from Whitney Bank

               h.       How much is being requested from JEDCO

        c.      Jimmy Ellis moved to allow the Jasper Youth Baseball Association to present a project to the JEDCO board for consideration. The motion was seconded by Eddie Hopkins and approved unanimously, with Alan Chesnut abstaining from the vote. 

VIII.       There being no further business, Board President Sid Stover adjourned the meeting at approximately 6:35 p.m. 

Approved as written: _____________________________________JEDCO Secretary