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HomeMy WebLinkAbout04-18-06 TSHA Min TEXAS'1* STUDENT H MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS OF THE TEXAS STUDENT HOUSING AUTHORITY (AN INSTRUMENTALITY OF THE TOWN OF WESTLAKE) APRIL 18, 2006 PRESENT: President Jim Carter, and Board Members Jac Irvine, Jill McKean, Chuck Schultz, and Larry Darlage ABSENT: Board members Gary Fickes and Becky Rogers OTHERS PRESENT: Executive Director Hank Smyth, General Counsel Scott Bradley, Finance Manager Pete Ehrenberg, and Secretary Jean Dwinnell 1. CALL TO ORDER. President Carter called the meeting to order at 5:54 p.m. 2. DISCUSS AND CONSIDER APPROVAL OF AMENDED BY-LAWS. Discussion ensued regarding funding for Westlake Academy addressed in Sections 1.1, 1.3E, and 5.5, the number of officer positions for Texas Student Housing Authority, and the contract of the "President" addressed in Section 3.5A of the proposed Bylaws Mr. Irvine moved to approve the amended Bylaws as presented. Ms. McKean seconded the motion. There was no further discussion and the vote on the motion was as follows: Ayes: President Carter, Messrs. Irvine, Schultz, Darlage, and Ms. McKean Nays: None President Carter declared the motion carried unanimously. President Carter then assumed the Chair under his new title of Chairman. 3. DISCUSS AND CONSIDER THE APPOINTMENT OF AUDITORS FOR FY 2005/2006. Finance Manager Pete Ehrenberg recommended that the Board contract with Weaver and Tidwell to perform the audit for the next year with the consideration of revisiting this recommendation if the Town doesn't contract with Weaver and Tidwell. Mr. Ehrenberg recommended a change in auditors every three to five years. He advised that he would negotiate the cost of the audits with Weaver and Tidwell. Mr. Schultz moved to approve the appointment of Weaver and Tidwell with the option to reconsider once the Town has appointed their auditors for FY 2005/2006. Ms. McKean seconded the motion. There was no further discussion and the vote on the motion was as follows: Ayes: Chairman Carter, Messrs. Irvine, Schultz, Darlage, and Ms. McKean Nays: None Chairman Carter declared the motion carried unanimously. 4. DISCUSS AND CONSIDER RECEPTION OPTIONS. Discussion ensued regarding the options for holding a reception for the scholarship students. It was the consensus of the Board to move forward with plans for a catered reception at the Ridgc in Denton during the month of September 2006. 5. EXECUTIVE DIRECTOR'S REPORT. Mr. Smyth reviewed his report as presented to the Board. Mr. Bradley gave a brief overview of the tax exemption issue at the Cambridge facility. Discussion ensued regarding setting a precedent, the cost of the tax bill, a contingency plan, whether there may be any possible exemption issues at other facilities, and the valuation of property for each facility. 6. FINANCE MANAGER'S REPORT. Mr. Ehrenberg reviewed his report as presented to the Board. Discussion ensued regarding the San Marcos facility bonds. 7. DISCUSS AND TAKE ANY NECESSARY ACTION ON EXECUTIVE DIRECTOR'S AND FINANCE MANAGER'S REPORT. Mr. Darlage moved to accept the Executive Director's and the Finance Manager's Reports as presented. Mr. Schultz seconded the motion. There was no discussion and the vote on the motion was as follows: Ayes: Chairman Carter, Messrs. Irvine, Schultz, Darlage, and Ms. McKean Nays: None Chairman Carter declared the motion carried unanimously. S. REVIEW AND APPROVE MINUTES OF BOARD MEETING HELD MARCH S, 2006. Ms. McKean moved to approve the minutes of the Board Meeting held March 8, 2006. Mr. Irvine seconded the motion. There was no discussion and the vote on the motion was as follows: Ayes: Chairman Carter, Messrs. Irvine, Schultz, Darlage, and Ms. McKean Nays: None Chairman Carter declared the motion carried unanimously. 9. REVIEW AND APPROVE ANY OUTSTANDING BILLS. There were no bills to consider. 10. ADJOURN. Discussion ensued regarding the status of the security reports on each of the facilities and replacement of Becky Rogers with Chuck Schultz on the Evaluation Committee. There being no further business, Chairman Carter declared the meeting adjourned at 6:58 p.m. The Minutes are approved and certified to be a true and correct reflection of the actions of the officers and members of the Board, and is hereby certified to be an official copy thereof, on file among the official records of the Board, on this the 6th day of July, 2006. ATTEST: J Carter, hairman can Dwinnell, Secretary