Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Michigan City Port Authority moves $800,000 into capital improvement fund, approves $73,840.86 in bills
Summary
At its May 4 meeting the Michigan City Port Authority approved payment of $73,840.86 in bills and voted to transfer $800,000 from checking to its capital improvement fund for short-term investment; the board also received the 2025 year‑end financial report.
The Michigan City Port Authority on May 4 approved payment of $73,840.86 in outstanding bills and voted to transfer $800,000 from its checking account into the capital improvement fund for investment.
Mr. Cypress moved “that we pay the bills as stated,” noting roughly half the total covered fuel for resale at the gas dock and the remainder covered items such as forklift maintenance and spring landscaping; the motion was seconded and approved by voice vote. The bills totaled $73,840.86.
Later in the meeting Mr. Cypress proposed moving $800,000 from checking into the capital improvement fund “so that we can invest that money in CDs and so on and so forth,” and the board again approved the motion by voice vote.
The board received the authority’s 2025 year‑end financial report and members were asked to review the materials and raise any questions at the next meeting or by email. Mr. Cypress said the report should help project this year’s spending patterns.
No roll-call tallies were recorded in the meeting transcript; both approvals were recorded as voice votes.
