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Votes at a glance: minutes, RLF extension, audit and Shared Trust proposal drafting approved
Summary
On March 10 the Woods County Industrial Authority: approved minutes of Dec. 11, 2025; approved a three-month interest-only extension on revolving loan fund #25-03; accepted the FY24-25 audit and approved a $7,100 invoice; and directed staff to draft a Shared Trust proposal. All recorded votes were unanimous among members present.
Key outcomes from the Woods County Industrial Authority meeting on March 10:
- Approval of minutes: The board approved the minutes of the Dec. 11, 2025 special meeting by unanimous vote.
- Revolving loan fund #25-03: The authority approved a three-month interest-only payment period (April, May, June) for revolving loan fund #25-03 (borrower referenced as The Sanctuary/Amy) by unanimous vote.
- Audit and invoice: The board accepted the fiscal year 2024'25 audit (staff reported no findings) and approved payment of the auditor's invoice for $7,100; both motions passed unanimously.
- Shared Trust proposal: The board directed staff to draft a proposal to Shared Trust regarding use of interest and options to leverage part of principal while reserving funds for the program's original purpose; the motion passed unanimously. Staff will circulate the draft to the board and the economic development committee for review.
Vote tallies were recorded by roll call with members present (Klein, McMurphy, Baker, Bush) voting yes on the recorded items. The transcript does not record named movers or seconders for each motion; all outcomes were recorded as approved.
