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Alva board approves routine business, extends loan for Charles Morton Share Trust
Summary
The Alva board approved minutes and the treasurer’s report, entered and exited an executive session, approved payment of a billing, and voted to extend a loan for the Charles Morton Share Trust from 8,000,000 to 9,000,000.
The Alva board approved routine meeting business and unanimously voted to extend an existing loan for the Charles Morton Share Trust.
At the start of the meeting board members moved to approve the minutes from May 2 and then approved the treasurer’s report. Todd Holder, the board treasurer, reported an account balance of $241,001.36 and said the board’s line of credit currently stands at $500,000; he added that “all the bills are current until today.”
The board then held an executive session; meeting notes record that guests Mary Martin and Jayla Bosnall were asked to remain and that the executive session concluded at 04:30. After the executive session the board discussed possible action items from that session and unanimously approved a motion to extend the loan with Charles Morton Share Trust from 8,000,000 to 9,000,000.
Separately, the board approved a payment for billing number 8 (billing party not specified in the transcript). The meeting also included a request to circulate a job description and solicit candidates for manager positions; members were asked to forward potential names to Melinda and her team for follow-up.
All recorded motions in the transcript passed by affirmative votes from the members present. The meeting closed after routine announcements and no additional formal actions were recorded in the provided transcript.
