HomeMy WebLinkAbout06-23-05 TSH San Marcos Min TEXAS I W-
STUDENT HOUSING
MINUTES OF THE
BOARD OF DIRECTORS OF THE
TEXAS STUDENT HOUSING AUTHORITY—SAN MARCOS PROJECT
(AN INSTRUMENTALITY OF THE TOWN OF WESTLAKE)
JUNE 23,2005
PRESENT: Board Members Dr. Larry Darlage, Jill McKean, Becky Rogers, and Chuck
Schultz
"ABSENT: President Jim Carter and Board Members Gary Fickes, and Jac Irvine
OTHERS PRESENT: Executive Director Hank Smyth, Finance Manager Pete Ehrenberg,
and Secretary Jean Dwinnell
1. The meeting was called to order at 5:43 p.m.
2. Consider approval of a presiding officer for this meeting.
Mr. Schultz moved, Dr. Darlage seconded the motion to approve the appointment of Becky
Rogers as presiding officer for this meeting.
There was no discussion and the motion carried unanimously.
3. Review and approve minutes of the meeting of the Texas Student Housing Authority
Board—San Marcos Project held on July 29,2004.
Mr. Schultz moved, Dr.Darlage seconded the motion to approve the minutes of the Texas
Student Housing Authority Board— San Marcos Project held on July 29, 2004.
There was no discussion and the motion carried unanimously.
4. Consider approval of the Audit for San Marcos facility for FY 2003-2004 presented by
Weaver and Tidwell.
Finance Manager Pete Ehrenberg distributed the Audit and explained the status of the bonds and
how the funds are managed.
Discussion ensued regarding the defaulted bonds. Mr. Ehrenberg explained that the principal on
the bonds gets deferred, the interest accrues with more interest, that Muni May is the servicing
agent, and that the Texas Student Housing Authority has no equity.
Dr. Darlage moved, Ms. McKean seconded the motion to table this item for fiuher review.
There was no further discussion and the motion carried unanimously.
5. Discuss and consider a Resolution Amending the Bylaws of the Texas Student Housing
Authority— San Marcos Project
Executive Director Hank Smyth explained the need to amendment of Article V, Section 5.5 of
the Texas Student Housing Authority Bylaws by adding the Authority Secretary to the list of
authorized persons to sign checks on behalf of the Authority from any band or trust account
maintained by the Authority for any purpose authorized by the Board of Directors.
Mr. Schultz moved, Ms. McKean seconded the motion to approve the proposed amendment to
the Bylaws.
There was no discussion and the motion carried unanimously.
6. Adj ourn.
There being no further business, Ms. Rogers declared the meeting adjourned at 5.58 p.m.
These 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 co y thereof, on file
among the official records of the Board, on this the 26v�' day of 52005.
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B cky Rogers, s` ing icer
an Dwinnell, TRMC, CMC, Secretary