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HomeMy WebLinkAbout08-21-96 TSHC Min MINUTES AND CERTIFICATION On August 21, 1996 the Board of Directors (the "Board") of Texas Student ]Housing Corporation convened in a public meeting at the designated meeting place in Westlake, Texas. The roll of the duly constituted officers and members of the Board was called, which are as follows: Name Title James P. Carter President Worth Blake Vice President Abe A. Bush Secretary/Treasurer John Brooks Member Forrest Watson Member Gary G. Wall Member Carroll Schubert Member vacant Member vacant Member all of whom were present except the following absentee(s):Forrest Watson thus constituting a quorum. Executive Session: The Board conducted a closed session pursuant to Chapter 551 of the Texas Government Code with its Finance Attorney and its Financial Advisor to discuss the possible purchase of additional real properties, as permitted by Section 551.072 of the Texas Government Code. The Board did not conduct a closed session. A discussion was held regarding the type of audit firm needed to complete an audit on the holdings of the Texas Student Housing Corporation. No decision was made. Mr. Bill Davis with SSRS, Inc. was not prepared to present the budget for the properties in College Station and Bryan Station. Mayor Bradley suggested President Carter write a letter acknowledging that the budget was late this year; but next year the Board wants the budget on time. Board member Wall made a motion to direct SSRS, Inc. to pay Mayor Bradley's firm for services rendered. Vice President Blake seconded; motion passed unanimously. President Carter will write and send Ietter. A discussion was held regarding the next board meeting to approve the budget. President Carter requested the Board host a reception for the scholarship winners and the University dignitaries. Mayor Scott Bradley of Westlake and Board member Wall are going to Austin to look over the two properties being considered for purchase by the Texas Student Housing Corporation. Mr. Bill Davis presented several bills for consideration. Treasurer Bush made a motion to pay $20,991.74 to reimburse for scholarships. Board member Wall seconded; motion passed unanimously. The next item for consideration was to pay the note for the purchase of furniture for additional rooms and to be taken out of the 1996-97 replacement funds in the amount of $221,663.16. Treasurer Bush made the motion to pay the above mentioned sum. Board member Wall seconded, motion passed unanimously, After a brief discussion regarding funds in the Texas Commerce Bank, Vice President Blake made a motion directing Mr. Larry Williams to transfer funds from the Texas Commerce Bank to a Dryfus fund. Board member Wall seconded; motion passed unanimously. The Board instructed Mr. Williams to write a letter to Mr. Jerry Pierce regarding the Dobie property. There being no further business to discuss, the meeting was adjourned. MINUTES APPROVED AND CERTIFIED TO BE TRUE AND CORRECT and to correctly reflect the duly constituted officers and members of the Board, and is hereby certified to be a correct copy of an official copy thereof, on file among the official records of the Board, on this the 21" day of August, 1996. Authorize fficer SEAL Title: ✓` �: t--''