TOWN OF MAGGIE VALLEY

SPECIAL CALLED BOARD OF ALDERMEN MEETING

NOVEMBER 2, 2006

MINUTES

Members Present: Mayor Roger McElroy Aldermen: Colin Edwards

Saralyn Price

Mark DeMeola (8:57)

Staff Present: Manager Tim Barth, Planning Director Nathan Clark, and Town Clerk Vickie Best

Others Present: Selena Keller

Mayor McElroy called the meeting to order at 8:53 a.m. in the Town Hall Boardroom.

The property can be purchased for $130,000 if the Town will name the area Parham Memorial Park.

ALDERMAN EDWARDS MADE A MOTION TO APPROVE THE OFFER TO PURCHASE THE REAL PROPERTY WITH NAME DISCUSSED.

MOTION CARRIED UNANIMOUSLY.

Mayor McElroy opened the public hearing at 8:55 p.m. explaining the original asking price for the property was over $300,000.

There were no comments from the floor.

Mayor McElroy closed the hearing at 8:57 p.m.

Council reviewed the proposed loan documents. The payments will not begin until the next fiscal year with an annual payment of $16,000.

ALDERMAN PRICE MADE A MOTION TO FINANCE THE LAND FOR TEN (10) YEARS.

ALDERMAN DEMEOLA SECONDED THE MOTION.

MOTION CARRIED UNANIMOUSLY.

ON MOTION OF ALDERMAN DEMEOLA, WITH ALL IN FAVOR THE MEETING ADJOURNED AT 9:00 A.M.

____________________________

Mayor Roger McElroy

____________________________

Vickie Best, CMC, Town Clerk