Minutes of Meeting

March 8, 2005 - 4:00 P.M.

PVGCD OFFICE

Cuero Plaza Mall-Suite 1129

Cuero, TX 77954

Board Members Present: Bubba Steen (Co-Chairman), Gary Colman (Secretary), Bob Davis and Tim Voelkel

ALSO IN ATTENDANCE: Bob McCurdy (GM) and Kay Wild (Office Assistant)

#1 Call to order: A quorum present, and all notices properly posted, the meeting was called to order at 4:05 P.M. by the Co-Chairman,

Bubba Steen.

#2 approval of minutes: Minutes of the December 7th meeting were presented in the Board packet. With one name spelling correction, Gary Colman made a motion to accept the minutes as presented, second by Bob Davis; the motion carried unanimously.

#3 PUBLIC COMMENT: None present, none made.

#4 FINANCIAL SUMMARY & APPROVAL: Bob McCurdy discussed the financial reports prepared by Kay Wild and provided in the board packets. Bob Davis made a motion to accept the financial summary as presented, seconded by Tim Voelkel; the motion carried unanimously.

#5 OPERATIONS REPORT BY GM: Bob McCurdy gave the board and overview of the financial seminar he attended in Austin. Bob is now qualified to serve as and investment officer for the District. The board will make a future determination of what percent of the available funds will be invested. Gary Colman stated that with such a small budget, we need to keep our money fluid and not invest in any long-term fund. It was suggested that the checking account should at least be an interest bearing account. Bubba Steen asked if investing would require a bond of any kind and Bob McCurdy said he did not think so, but will check with Jim Allison to be sure. Bob also informed the Board that he has spoken with County officials and they have agreed to allow us to piggy-back with them in the November elections. Depending of space availability on the county ballot, we may have to produce our own ballot. Bob also asked the Board for input on securing a business credit card for the District. Gary Colman suggested that we are in a position now, and are large enough to merit having a credit card. Bubba Steen said as along as it is a non-fee credit card, that Bob could make enquiries and go forward with application for a credit card for the District.

aGENDA ITEMS 6, 7 AND 8: Jim Allison was unable to attend this meeting ; therefore agenda items 6, 7 and 8 dealing with production permits and election date change, are deferred to the next meeting, pending Mr. Allison’s availability to attend.

ADJOURNMENT: The Co-Chairman called for a motion to adjourn; Bob Davis made the motion, second by Tim Voelkel, and the meeting was adjourned at 5:00 P.M.

Sec/Gary Colman

Recorded: Kay Wild/Office Asst/PVGCD