minutes

Chairperson Frazier opened discussion of new business and approval of the financial reports.
Commissioner Collins inquired about the timeframe for expending monies held in the general fund.
Director Sterling explained that the Port has three projects the dredging, sewer, and road projects
and that the funds had been retained in anticipation of those expenditures. Commissioner Collins also
inquired about certificate-of-deposit interest rates and requested that funds be transferred from the
general fund into a new certificate of deposit. Director Sterling recommended adding the matter to
the agenda as Item IB. Under Item IA, Commissioner Williams moved to approve the financial
report, and Commissioner Hargrave seconded the motion. Under Item 1B, Commissioner Collins
moved to authorize the transfer of funds into a new certificate of deposit, and Commissioner
Williams seconded the motion. Both motions carried unanimously. Secretary/Treasurer Evers
conducted the roll call.