At the Board of Directors meetings held in April and May 2010 it was resolved to:

1. Appoint Terry Jackson, Bill Keith, Gary Kichenside, Kevin Nowland and Bernie Russell to the Tura Beach Steering Committee. Steering Committee subsequently elected Kevin Nowland as Chairman.
2. Agree on the following arrangements relating to de-amalgamation:
   • Board will endeavour to transfer all of MIBC Ltd’s existing contractual rights and obligations relating to Tura venue to the new Tura Club;
   • A $100,000 interest free unsecured loan, be granted to TBCC for working capital repayable over 50 months in equal instalments;
   • Capital expenditure required for separate Tura IT system will be included in the 2010/2011 MIBC Ltd Tura venue capital budget;
   • Confirm the existing Courtesy Bus be retained by the Tura venue;
   • MIBC Ltd pays any stamp duty payable on the transfer of assets to Tura. This stamp duty is only repayable to MIBC Ltd in the circumstances where the freehold land known as Lot 1441 is partly or wholly disposed of within the first 10 years after de-amalgamation (“disposed of” as defined in the Registered Clubs Act.
3. Modify the $10 discount golf green fee promotional offer to a $5 discount and $5 discount drink ticket.
4. Approve the following new membership fees for 2010/11
   • Golf $630.00 (accompanied by a corresponding decrease in competition fees from $12 to $10).
   • Country $250.
   • Bowls $95.
   • Bowls/Golf $725

All other membership fees remain the same as 2009/10

5. Temporarily cease sales of three-year social membership due to de-amalgamation.
6. Discontinue Wine Club membership mainly due to the diminishing value of membership from the increasing prevalence of online discounted wine suppliers.  Wine and Dine nights will continue to be held but open to all club members.
7. To call for expressions of interest from trades persons wishing to supply services to the club.
8. Continue the 10% members’ discount off food and beverages until at least 30 June 2011.
9. Increase the members discount to 20% off lunches in the Merimbula Bistro for the month of June 2010.
10. Ratify proposed changes to the MIMBC By-Law No. 20, subject to membership approval.
11. Approve donations to Merimbula Grasshoppers Soccer Football Club, Sapphire Coast District Netball Association, Merimbula seniors’ Tennis Tournament, local junior country musician Cameron Cusack.
12. Approve 71 new or transferring memberships comprising:
    • Country Golf: 6
    • Golf: 1
    • Bowls Merimbula: 1
    • Social: 63

The next monthly Board Meeting will be held on Wednesday 9 June at 3.30pm.

Damien Foley
Chief Executive
30 May 2010