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05/31/2011-4B-Minutes-RegularMINUTES: SANGER TEXAS DEVELOPMENT CORPORATION May 31, 2011 MEMBERS PRESENT:Beverly Howard, Christy Crutsinger, Jeff Springer, Will Dutton, Dutton, Barbara Martin and John Payne ABSENT:Beverly Branch OTHERS PRESENT: City Manager Mike Brice, Tami Taber City Secretary 1.Call Meeting to Order. President Payne called meeting to order. 2.Approve Minutes:May 18, 2011 Motion was made by Beverly Branch to approve minutes as presented. Seconded by Barbara Martin. Motion carried unanimously. 3.Consider, Discuss and Possibly Act on Purchase and Method of Financing for the Millar Property and Authorize the City Manager to Complete Purchase. City Manager explained that it will cost $5,000 per acre. The 4B account will also be receiving one to two more sales tax deposits. The total for the purchase would be $265,000 plus closing costs. This item will be taken to the City Council for approval and then a notice published in the paper. After the 60 day waiting period, the purchase can be finalized. 4.Adjourn. Meeting adjourned at 6:20 p.m.