Minutes 6/14/97

Annual Meeting of LakeWay AirPark, Inc.

The meeting was called to order at 6:00 PM at the LakeWay
Community Center by Bill Kulpa.
Present were the following board members: Bill Kulpa, Ken Dominy, Gordon Lingle, Jim Anderson, Mark Goldberg & Lefty Gardner Absent: Rich Richardson

Applications for membership were filled out and dues collected. Ballots were handed out for election.

Treasury report presented by Bill Kulpa. Motion to accept by Jim Anderson, 2nd by Mark Goldberg.
Paid $9000 (of $18000) of the fuel pump debt from past 2 years (approximately $4500 for '95-'96 & $4500 for '96-'97).
Owe $5000-6000 for 1996 taxes
Paying $0.15 per gallon on aviation fuel purchased at self-service pump towards debt.
6000 gallons fuel in tank which is paid for.

Bill Kulpa read report from Nominating Committee - see attached ballot. Nominations from floor opened. Jim Anderson nominated Lefty
Gardner for Board, 2nd by Mark Goldberg. Motion for nominations to be closed from floor. Recessed for vote. During recess, report on status of hangers by Bill Kulpa: we have everything necessary for replat of property. Discussions on ground lease & airport owned hangers. Discussion on access
to South East 7 acre property.

Results of election announced: Joe Bain, Gerald Delaney, George Yankowski., Gordon Lingle, Jim Anderson, Rocky Peebles, &
Bill Thompson. Specials thanks given to Marsha Kulpa and JoAnn Anderson for their work over past year.

Meeting adjourned at approximately 8:00 PM

Immediately following,, a meeting of new directors was held and officers were elected as follows:

Joe Bain, President
Gerald Delaney, Vice President
George Yankowski., Treasurer
Gordon Lingle, Maintenance Officer
Jim Anderson, Safety Officer
Rocky Peebles, Secretary
Bill Thompson, Hanger Officer