HomeMy WebLinkAbout09-24-02 TSH Denton Min MINUTES AND CERTIFICATION
On September 24, 2002,the Board of Directors (the"Board") of the Texas
Student Housing Corporation—Denton Project 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
Annette Bush Treasurer
Dr. Forrest Watson Member
Becky Rogers Member
Dr. John Brooks Member
Mike Farhat Member
All of whom were present except Dr. Brooks,Ms. Rogers and Dr. Watson. Also
present were: Mr. Larry Williamson, Mr. Allen Moon, Mr. Bill Moon, Mr. Scott Bradley,
Ms. Mary Midgette, Mr. Trent Petty, Ms. Christine Savarese,Ms. Heidi Brendemihl, Ms.
Michelle Haron, Mr. Felix Lozano, Mr. Griff Babb and Ms. Ginger Crosswy.
President Carter called the meeting to order at 6:35 p.m. Ms. Christine Savarese,
Ms. Heidi Brendemihl and Ms. Michelle Haron were in attendance to speak regarding
the budget amendments recommended by JPI. Ms. Brendemihl went through the
amendments with the Board, answering questions as the presentation was made. There
was a long discussion regarding several issues. Mr. Petty instructed the people from JPI
to bring to his attention every time a line item exceeds the budgeted amount so he can
bring it to the Board as a budget amendment.
The meeting was recessed at 7:20 p.m. The JPI representatives left at 7:20 p.m.
Mr. Bradley and Mr. Bill Moon left at 7:45 p.m. Mr. Lozano and Mr. Babb left at 8:15
p.m.
The meeting was reconvened at 9:25 p.m. No action was taken on the budget
amendments. It was determined that no executive session was needed.
There was a motion by Mr. Farhat, seconded by President Carter,to accept the
minutes of the meeting held on August 27, 2002, as presented. There was no discussion
and the motion carried unanimously.
Mr. Petty told the Board that the Bondholder recommended that the reserve
accounts be funded with the monies that were escrowed to pay the property taxes. There
was a long discussion regarding several issues. The Board asked the secretary to add to
the next agenda a discussion and possible action regarding a promissory note owed to JPI
for $178,913.75.
Mr. Williamson told the Board that JPI is meeting with the Bondholder in Boston
on Monday regarding the budget for the Denton and Austin projects, and they had
approached him about attending to represent the Board. It was determined that Ms.
Midgette would attend this meeting.
President Carter suggested since the School Boards in the various locations were
the entities most hurt by these properties being taken off of the tax roll, maybe the Board
should consider letting those Boards award scholarships in their names.
There was a motion by President Carter, seconded by Ms. Bush, to pay an invoice
to Kelsey, Kelsey and Collister in the amount of$1,820.84. There was no discussion and
the motion carried unanimously. There was a motion by Ms. Bush, seconded by Mr.
Blake, to pay an invoice to Whitley Penn in the amount of$16,151.00. There was no
discussion and the motion carried unanimously.
There being no further business the meeting was adjourned at 9:45 p.m.
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 29th day of October 2002.
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ATTEST: es P. Carte , sident
tinge rosswy, Secretary .