Sales tax up, unemployment down at SEED Meeting

Lead Staff Reporter

The Board of Directors of the SEED of Sweetwater held their regular session on Monday, November 13, at 10:30 AM, at the SEED offices. The meeting took place in the Chamber Board Room - 1” Floor located at 810 E. Broadway, Sweetwater.
The minutes for the October 2017 meeting have been read and approved without changes.
The Board went over the financial statements for September 2017 and accounts payable portion of the Agenda and have approved each without variation.
Sales tax was up and deemed as doing positive per the Board as the gas and oil businesses are doing well.
Unemployment is down at 3.7 %. Surrounding counties are experiencing this general downturn in unemployment numbers, as well. This is in comparison to the Federal Reserve unemployment rate, which is typically between 5.0 and 5.2 percent. The long-run normal rate of unemployment in the Summary of Economic Projections are generally in this range as well. For example, in the September 2017 projections, FOMC participants’ estimates of the longer-run normal rate of unemployment ranged from 4.4 to 5.0 percent.
Quotes are being sought to cover D&O Liability Insurance. This is a type of liability insurance covering directors and officers for claims made against them while serving on a board of directors and/or as an officer. Typically, D&O liability insurance can be written to cover the directors and officers of for-profit businesses, privately held firms, not-for-profit organizations, and educational institutions. The process is ongoing and the results will be discussed at a later date.
David Vela, City Manager discussed the election and what is means for a MDD. The unofficial votes for MDD were 420 - 73%, while the votes against MDD were 155 at 27%. The total votes came in at 575.
Deadline to Post Notice of Candidate Filing Deadline (Local Political Subdivisions Only) will be Monday, December 18, 2017 for local political subdivisions that have a first day to file for their candidates’ First Day to Apply for Ballot by Mail will be Monday, January 1, 2018*
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First Day to File for a Place on the General Election Ballot (Local Political Subdivisions
Only)’ will be Wednesday, January 17, 2018.
Last Day to Order General Election or Special Election on a Measure will be Friday, February 16, 2018.
Last Day to File for a Place on the General Election Ballot (Local Political Subdivisions Only) Friday, February 16, 2018 at 5:00 p.m.
Last Day to File a Declaration of Write-in Candidacy (Local Political Subdivisions Only) will be on Tuesday, February 20, 2018.
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First Day of Early Voting by Personal Appearance Monday, April 23, 2018.
Last Day to Apply for Ballot by Mail (Received, not Postmarked) will take place on Tuesday, April 24, 2018.
Last Day of Early Voting by Personal Appearance will be Tuesday, May 1, 2018.
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The Board then entered into Executive Session by the Executive Director under Sections 551.087, 551.072, and 551.074 of the Texas Government Code, to discuss economic development/real property negotiations/personnel matters. No action will be taken in the Executive Session as it is not permitted by law. The meeting then adjourned.