FRYE ISLAND INCORPORATED STOCKHOLDERS MEETING

FRYE ISLAND COMMUNITY CENTER

JULY 6, 2002

President Thomas called the meeting of Frye Island Incorporated Stockholders to order at 10:10 AM.

1.     ELECTION OF BOARD OF DIRECTORS

Anne Garceau MOVED and Wayne Fournier SECONDED that the names of the following be placed in nomination for the Board of Directors:

            Diane Babineau                                   Fritz Mueller

            Dave Decker                                       Dick Norris

            Nancy Founier                                     Jeanne Sullivan-Toomey

Dick Giggey                                        Mark Thomas

Carl Hommel                                       Tim Tinsman

The motion PASSED.

Mark Thomas nominated Norman Erekson.

The nominees made brief statements, and the written ballots were cast. Those elected were:

Diane Babineau                                   Fritz Mueller

            Dave Decker                                       Dick Norris

            Nancy Founier                                     Jeanne Sullivan-Toomey

Dick Giggey                                        Mark Thomas

Carl Hommel

2.     VOTE ON CONSTRUCTION OF NEW TOWN BUILDING BY FII

O. Svetlichny MOVED and Jim O’Connor SECONDED that the FII be empowered to appoint a group of people to research two options for Town Office and make recommendations. The two options are

            a) construction of a new Town Office, and

            b) renovation of the existing structure.

The recommendations should include all associated costs and other considerations and be ready for public hearing in mid-August.

The motion FAILED, by show of hands.

3.     FIREWORKS

Jeanne Sullivan-Toomey requested that the people who had boats on the new docks in the marina remove them by 5:00PM, or they would be moved. This was because the fireworks could not set off if the boats were not removed.

4.     REAL ESTATE

President Thomas reported on the status of the Real Estate Policy and the letters of first refusal.

5.     ADJOURNMENT

The meeting of the Frye Island Incorporated Stockholders was adjourned at 10:25 AM.