Board Meeting Minutes: July 6, 2009

Present
Board: Peter May, Terri Rutledge, Bill Wilkerson, Don Comis, Mike Stark
Audit Committee: Ed James, Michael Hartman, Dorian Winterfeld

Peter called the meeting to order at 7:35 pm.

Introduction of Audit Committee

The newly elected committee was introduced. During discussion the following points were raised.

• Are members of the Audit Committee considered officers of the corporation?

Bill will distribute copies of the board handbook and personnel policy to the committee.

Appointment to Fill Vacant Board Position

Mike Stark was appointed to fill Pat Brent's vacated board position. Pat announced her resignation at the Special Membership Meeting of June 29, 2009.

MOTION: To appoint Mike Stark to fill Pat Brent's vacated board position.
MOVED: Terri Rutledge      SECOND: Don Comis      VOTE: 4-0

Election of Officers

A new election of officers was requested by Terri Rutledge in order to reflect the newly constituted board, to recognize the transition in board priorities following the contract renegotiation, to spread the work out among board members, and to encourage more formal operating board procedures. Peter May announced his resignation as president of the board due to the press of personal business and his confidence in the board's ability to carry out its duties.

MOTION: To hold an election of board officers.
MOVED: Terri Rutledge      SECOND:      Don Comis      VOTE: 5-0

MOTION: To elect Terri Rutledge as president of the board.
MOVED: Don Comis      SECOND: Mike Stark      VOTE: 5-0

MOTION: To elect Mike Stark as secretary of the board.
MOVED: Don Comis      SECOND:      Bill Wilkerson      VOTE: 5-0

Reports

• Bar Management: Peter May discussed the need to formalize the bar management as a paid position.
• Music and Events: Dorian announced a meeting to reactivate the music committee. Andre is willing to pay a major role in booking music.
• Proposed Consolidation Loan: Mike Stark reported that the payout of the cooperative's $100,000+ debt would be five (5) years if $2,000 per month was paid toward the debt (assuming a 6.5% interest rate). The payout increases to seven (7) years if the cooperative simply makes the minimum payments. Mike stated that the coop will need a balance sheet, an operating budget, and an updated business plan to apply for a new consolidation loan.
• 2009 Board Work Program: Bill stated that he will distribute the results of the board's work session on the board priorities for the 2009 work program soon.
• Volunteer Involvement: Don proposed that the cooperative double volunteers, and the need for volunteer coordination and training. He believes that KMK should sign on with the volunteer recruiting and put his name on any written appeals to encourage a cooperation between KMK and NDC INC.

The meeting was adjourned at 9:10 pm.

Respectfully submitted,
Bill Wilkerson, Acting Secretary

The minutes of the regular board meeting held on July 6, 2009 were approved by the board on September 9, 2009.