THORNTOWN PUBLIC LIBRARY BOARD OF TRUSTEES
JANUARY 10, 2005
BOARD OF FINANCE

Vice President John Merson called to order at 6:00 p.m. the annual Board of Finance meeting at the Thorntown Public Library. Present were Teresa Carter, Deanna Brueggert, and Patty Ramsey. Absent were Linda Yoder, Ron Guinn, Eric Ragsdale.

Patty moved and Deanna seconded that the following officers be elected:
President Eric Ragsdale
Vice President John Merson
Secretary Linda Yoder
Treasurer Liaison Teresa Carter
The motion carried.

Patty moved and Teresa seconded that Barbara Darnell be appointed treasurer with the salary set at $5683 for 2005. The motion carried.

Barbara provided the treasurer’s report of investments: The certificate of deposit #11509 with Home National Bank is for $69,977, is earning 2% interest and will mature on March 14, 2006. The Farmer’s Bank CD 123704 is for $250,000, is earning 4.9% interest and matures on May 10, 2006. The board’s investment policy was discussed. Deanna moved and Teresa seconded that the board continue to invest in CD’s, that as a general rule the local Home National Bank should be used, but that the bank with the best interest rate should be used if there is a significant difference in rate; motion carried.

Patty moved and Teresa seconded that the Lebanon Reporter continue to be the newspaper used for publication of legal notices, that the Sun Times be used if it publishes legal notices, and that the Zionsville Times Sentinel not be used since there is little subscription base in the Thorntown area. If the Sun Times does not publish legal ads, Karen is to continue the present practice of advertising in the Lebanon Reporter and posting the ad at the library, drugstore and bank.

There being no further business, Deanna moved and Teresa seconded that the meeting be adjourned; motion carried. The meeting adjourned at 6:16 p.m.

Respectfully submitted,

Karen K. Niemeyer
Secretary Pro Tem

NOTE: The Sun Times can publish some legal ads and needs copy by Wed/Thurs before the following Wed issue. kkn