Minutes

LakeWay AirPark Board Meeting

6/25/97

The meeting was called to order at 8:00 PM at the LakeWayAirPark office by Joe Bain.
Present were the following board members:

Joe Bain, Gerald Delaney, George Yankowski., Gordon Lingle, Bill

Thompson & Rocky Peebles

Absent: Jim Anderson

Minutes from last Board meeting (6/21/97) was presented by Rocky

Peebles. Accepted by Gerald Delaney and 2nd by Bill Thompson.

Discussion:

Rocky Peebles to give disk with minutes of each meeting to Joe

Bain and Joe will distribute via E-mail and/or fax. Any board

member not capable of receiving either can physically pick up

their copy or obtain copy at next board meeting.

George Yankowski reported: he had met with Marsha Kulpa on

Saturday and with Marsha and Jim Greene (LakeWay AirPark

accountant) on Tuesday to review status of accounts. Jim Greene

will be looking into refiling for non-profit status. Discussion

of next steps including letter needed for IRS, tax status

categories, taxes paid, taxes due, tax filing, interest,

penalties, budget, funding & maintenance fund.

Motion to reconstruct minutes of meetings concerning

establishing funds accounting made by Bill Thompson, 2nd by

Gerald Delaney.

Discussion of filing property valuation protest.

Motion by Bill Thompson to modify existing draft letter from

Hillwood Corporation (Bill Resch) to meet the requirements to

refile for non-profit status and to negotiate with Hillwood, 2nd

by Joe Bain. Gerald Delaney stated he will take on effort if

George Yankowski will make changes on draft. George stated that

he would.

Joe Bain motioned to not pay tax deposits at this time, Bill

Thompson 2nd.- unanimous in favor.

Discussion of filing tax options.

Discussion concerning reconciliation of fuel activity: Western

Petroleum funds deposits &

withdrawals, transfer of funds, meter receipts, pump activity,

transmission of faxes from Western Petroleum, reconciliation of

receipts, software to reconcile, measuring gallons pumped into

tank against pump meter readings. No action taken.

Discussion: clean up bylaws, history of bylaws, redoing bylaws.

Joe Bain to bring bylaws to next board meeting.

Discussion: updated member database & format, mail list, tail

number list, ramp fees paid list updated & membership renewals,

& associated costs vs. potential revenue.

Gordon Lingle agreed to run database.

Discussion on Pot Luck dinner. Motion by Joe Bain to have such

at LakeWay AirPark on July 19, 1997 starting at 6:00 PM and for

LakeWay AirPark, Inc. to pay for rental of chairs and tables and

for JoAnne Anderson to coordinate, 2nd by Bill Thompson.

Discussion on guidelines for hangers & to-dos for Bill Thompson:

prefer no row hangers, specifications of 4,5,6-plex, set-back,

taxi-way room, parcel at end of runway, hangers on AirPark

property, proposition for off AirPark hangers, board to review

draft specs, access to AirPark, tiedowns on and off asphalt, own

hangers or lease property for hangers, costs (building,

maintenance, utilities, future maintenance) fire & safety rules,

financing, payback periods, lease land vs. leased hangers.

To-dos for Bill: replat AirPark, provide updated hanger list,

form hanger committee, conduct meeting with people on hanger

list.

Motion by Joe Bain for AirPark to fund replat of AirPark into

one parcel, 2nd by Gerald Delaney.

Unanimous in favor.

Motion by Joe Bain to table discussion on hangers for this

meeting, 2nd by Gerald Delaney.

Unanimous in favor.

Discussion on how much money is in accounts, how accounts are

billed and received, checks cashed. George will have

information at next meeting.

Next board meeting determined to be July 9, 1997 at 7:00 PM,

LakeWay AirPark office.

Motion to adjourn meeting at approximately 8:30PM by Gerald

Delaney, 2nd by Bill Thompson.