Vice President Mark Dahlberg called the annual meeting of the Industrial Development Agency Ltd. Board to order at 3 p.m. on January 19, 2004, at the Burnett County Government Center.

Members present: Mark Dahlberg, Merlin Johnson, Richard Anderson, Helen Steffen, Joanne Pahl, Melvin Daniels, Clifford Main. Absent: Glenn Meier, David Grindell Also present: John Stroschine of Northwest Regional Planning Commission.

A motion was made by M. Johnson, second by R. Anderson, to approve the minutes of the December 17, 2003, meeting. Motion carried.

Secretary/Treasurer H. Steffen reported the balance in the Revolving Loan Fund as of December 31, 2004, was $217,877.39. All loans are current.

Vice President Dahlberg asked for nominations for officers to serve as President, Vice-President, and Secretary/Treasurer. Glenn Meier was nominated for President, Mark Dahlberg nominated for Vice President, Helen Steffen was nominated for Secretary/Treasurer.

Motion by M. Dahlberg, second by M. Johnson, to cast a unanimous ballot for those nominated. Motion carried. Officers elected: President Glenn Meier, Vice President Mark Dahlberg, Secretary/Treasurer Helen Steffen.

John Stroschine informed the Board there are no current loan applications ready for the Board to review. An update was given on the Burnett Dairy Cooperative project. The loan of $50,000 from the Revolving Loan Fund was made on January 2, 2004.

Vice President Dahlberg adjourned the meeting.

Helen Steffen
Secretary-Treasurer