Good morning and welcome to the July fifteenth meeting of the Evansville Local Public Improvement Bond Bank.

Um we are in session.

Uh can we confirm compliance with open door law?

Yes.

We uh published the notice on Granicus, and we have two posted to bill uh to bulletin boards on the first floor and the third floor of the Pacific Center.

Perfect, thank you, Mr.

Gunter.

Uh we do have three members present, so we do have a quorum.

First up is the consideration of the meetings of the previous uh minute min I'm sorry, the minutes of the previous meeting which were emailed to you earlier this week.

Does anyone have any um corrections or concerns?

May we have a motion to accept these minutes?

Still moved.

Thank you.

Second.

With a motion and a second.

All in favor.

Aye.

Aye.

Those are accepted.

All right.

Executive director remarks, Mr.

Gunter.

Thank you.

Fantastic.

Uh can we run through the financials, please?

Sure, good morning.

Um cash and investments, as you notice, uh have gone down about a million nine, and that's nothing more than we at the last meeting loaned out a million nine to Central Desk dispatch.

Um accordingly, uh loans receivable from qualified entities has gone up that much.

Um I can tell you that the police department made their six hundred and twenty-one thousand dollar payment on their uh their auto loans.

Uh yesterday we received it and it's going to the bank today.

Uh I billed that back in June, and it's just take some time for them to turn around.

Uh I've got some more billing for the last of the energy service energy systems contracts.

Uh those are due August first, and so I'll get those out and we'll get those hopefully collected and paid off, and we won't we'll just have like four large uh bands outstanding.

Um you can take a look at the um P and L our interest of course is a little bit down compared to last year.

Um annualized from investments, it's definitely gonna go down because we have less money in investments and our interest rates are a little bit lower.

Um our interest from our our loans is going to go up because increased the rate from one and a half to two and a half percent.

Um seems like a good thing for the city to get a a low interest rate on on what they borrow.

Umside of that, a little has changed.

I have details of uh the loans and investments, interest receivable and so forth, back few pages.

Um very steady.

Question regarding um insurance and I federally insured.

The funds that are within the who's your fund, that's already insured by the state, is that correct?

Yes, yes.

So we have one point five plus million dollars.

Who's the fund?

In the m in a money market.

And then uh with Trust Indiana 900,000.

That's correct.

So those are now and then our total um at Crane is approaching is three and a half million.

Do we have any concerns there?

The state has a program where they if if we buy CDs or bank with entities that are in their approved list, they will ensure anything over the two hundred fifty thousand that F F D I C covers.

Okay.

I mean, we're looking at roughly well, not roughly, but exactly $3 million in things kind of coming to terms to the end of their terms now.

So we have an old national on $717, a crane on $626.

And then another crane on $8, 7.

What are the plans for those funds?

Loan one point almost $1.3 million to DMD.

And then we thought we had we would have some others.

Those have been delayed a little bit.

Okay.