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HomeMy WebLinkAbout09-25-01 TSHA Min MINUTES AND CERTIFICATION On September 25, 2001, the Board of Directors (the `Board") of the Texas Student Housing Authority 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 Dr. Patsy Sharp Member Dr. John Brooks Member Mike Farhat Member all of whom were p resent except Dr. Watson. Also present were: Mr. Alien Moon, Mr. Larry Williamson, Mr. Trent Petty, Ms. Mary Midgette and Ms. Ginger Crosswy. President Carter called the meeting to order at 10:07 p.m. No executive session was needed. There was a motion.by Dr. Sharp, seconded by Mr. Blake,to approve the minutes of the meeting held on June 12, 2001. Consider a Resolution to amend the by-laws to permit the program administrator to have check writing authority and to make other changes regarding financial administration. There was a motion by Dr. Sharp, seconded by Mr. Blake, to approve the by-laws as amended with the stipulation that Mr. Petty would write a memo stating that the finances would be handled through two accounts. Mr. Petty would write checks from one account and Ms. Bush would write checks from the other account. There was no further discussion and the motion carried unanimously. Consider and take appropriate actiop regarding EO and General Liability insurance. No action was taken on this item. Consider and take appropriate action regarding invoices from consultants. No action was taken on this item. There being no further business the meeting was adjourned at 10:08 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 23rd day of October, 2 041. ATTEST: J ies P. Carter, Pr ent 4 -- 7 Ginger rosswy, SecretaryC BYLAWS of TEXAS STUDENT HOUSING AUTHORITY ARTICLE I POWERS AND OPERATIONS IN GENERAL SECTION 1.1. Powers of Authority. The Texas Student Housing Authority(the"Authority")shall have all of the powers and authority granted to an authority under the Higher Education Authority Act,Chapter 53,Texas Education Code, as amended (the "Act"). SECTION 1.2. Records. The Authority shall keep complete corporate and financial records and minutes of the proceedings of its board of directors(the"Board")and of committees(if any)of the Board in accordance with applicable law. The records and minutes shall be made available for inspection at all reasonable tunes by any member of the Board(any member,a"Director")or by the Director's authorized agent or by any authorized representative of the Town of Westlake(thee "Town"). SECTION 1.3. Regulations. The Authority, by action of the Board, may promulgate regulations (the "Regulations") governing the Authority's operation. The Regulations shall not conflict with, and shall be subject to, these Bylaws. SECTION 1.4. Staffing Functions. Staff functions of the Authority may be performed by employees of the Town,under the direction of the Town Manager,subject to payment by the Authority of the actual costs of the staff functions to be performed, as from time to time may be billed to the Authority by the Town. The Authority shall pay the bills upon receipt {or as promptly thereafter as practicable) from any of its funds available for such payment. SECTION 1.5. Administrative Fees. The Regulations may prescribe fees payable by applicants for financial participation and/or assistance by the Authority and such other fees and charges as the Board determines appropriate to defray the administrative expenses incurred in the operation of the Authority. SECTION 1.6. Student Assistance Program. The Authority shall promulgate Regulations establishing and providing for the administration of a program designed to provide education and/or housing assistance to deserving students residing in the Keller Independent School District (the "Keller ISD"), the Carroll Independent School District (the "Carroll ISD"), and the Northwest Independent School District (the "Northwest ISD") at the institution(s) of higher education that are aided by the Authority (the "Student Assistance Program"). The Regulations governing the Student Assistance Program shall provide a preference in the awarding of student assistance to students who reside in the Town (and who otherwise qualify for assistance). The Student Assistance Program shaWbe funded exclusively from those funds (if any) of the Authority that are not subject to a lien and/or pledge securing the Authority's bonds or other obligations or required for the timely payment of the Authority's operation and maintenance expenses. "An Education Leadership Advisory Committee" (the "Advisory Committee") empowered to advise the Board concerning students needs,assistance and any other matters deemed necessary by the Board including student scholarship review criteria. The Advisory Committee shall be composed of five members and shall include a representative from each of the Carroll ISD,the Keller ISD, and the Northwest ISD and two Directors. The president shall be empowered to appoint and remove all members of the Advisory Committee. TSHA.BYLAWS—Page I TAM.v2.9/21/2001 ARTICLE II BOARD OF DIRECTORS SECTION 2.1. Management of Authority. The Board is responsible for the management of the Authority. SECTION 2.2. Number,Appointment,Term,Disqualifications,and Removal of Directors. The Board shall consist of seven Directors. The Directors constituting the initial Board are those specified in the Ordinance adopted on May 14,2001,among other things appointing the members of the Authority. Subsequent Directors (including Directors filling vacancies) shali be appointed by the governing body of the Town. The term of each Director is two years,provided that a Director shalf continue to serve until hislher successor is appointed and assumes office. No officer or employee of the Town may serve as a Director. Any Director may be removed at any time(with or without cause)by the governing body of the Town. SECTION 2.3. Meetings of Directors, (a) The Board may hold its meetings at any place designated(from time to time)by the Board. In the absence of any designation,meetings shall be held at the principal office of the Authority. Regular meetings of the Board shall be held at such times and places as designated by resolution of the Board. A special meeting of the Board shall be held whenever called by the president or the secretary of the Authority or by the Board at the time and place specified by the authority calling the special meeting. Unless otherwise indicated in the notice of special meeting, any matter that may be acted upon by the Board at a regular meeting may be acted upon at a special meeting. (b) Except as otherwise provided by law,notice to Directors of a regular meeting is not required. Notice of the time and place of each special meeting shall be given to each Director(either by personal delivery,United States mail,telephone, or telecopy)not later than two hours in advance of the meeting. Notice of any Board meeting to persons other than Directors shall be given if and to the extent required by law. (c) Attendance of a Director at a meeting shall constitute a waiver by the Director of any notice of meeting, unless the Director attends the meeting for tare express purpose of objecting to the transaction of any business on the grounds that the meeting is not lawfully called or convened. A waiver of a notice in writing,signed by any person entitled to notice(whether before or after the time for giving the notice)shall be deemed to be the equivalent to the giving of notice. SECTION 2.4. Quorum. A majority of the number of Directors fixed by these bylaws as constituting the Board shall constitute a quorum for the transacting of the business of the Authority. The act of a majority of the Directors present at a meeting at which a quorum is in attendance shall constitute the act of the Board except as otherwise required by law or by these Bylaws or the Articles. SECTION 2.5. Order of Business. The Board shalllconsider the matters before it in such order as the Board may determine. SECTION 2.6. Committees. The Board,by resolution adopted by a majority of the Directors in office,may designate one or more committees that,to tl•_c extent provided in the resolution,shall have the authority of the Board in the management of the Authority. Each committee shall consist of two or more Directors. Committees that do not have the authority ofthe Board in the management of the Authority may be designated by resolution of the Board or by the president of the Authority,and membership on any committee need not be limited to Directors. TSHA.BYLAWS—page 2 TAMA,9121MO I SECTION 2.7 Compensation of Directors. Directors are not entitled to receive any compensation for their services as Directors, except for reimbursement of their actual expenses incurred in the performance of their official duties. ARTICLE III OFFICERS SECTION 3.1. Off ce Titles, The officers of the Authority shall be a president,a vice president,a secretary,a treasurer,and such other officers as the Board may from time to time appoint. The same person may hold more than one office, except that the president shall not holdthe office of secretary. SECTION 3.2, Appointment Term Removal Vacancy of Offices. Each officer shall be appointed by the Board for a term of two years and shall continue to serve until his/her successor is appointed and assumes office. Each officer is subject to removal from office(with or without cause)at anytime by the vote of a two- thirds majority of the Directors in office. A vacancy in any office shall be filled in the same manner as the original appointment for the unexpired terni thereof. SECTION 3.3 President. The president shall preside at all meetings of the Board. The president is the chief executive officer of the Authority and, subject to the control of the Board, shall have general charge and supervision of the management of the affairs of the Authority. The president shall cause all orders and resolutions of the Board to be put into effect. The president shall sign and execute all legal documents and instruments in the name of the Authority when authorized to do so by the Board,except when the signing and execution thereof is delegated by the Board to some other officer or to an agent of the Authority. SECTION 3.4. Vice-President. The vice-president shall, in the event of the absence or disability of the president, discharge the powers and duties of the president, and the vice-president shall perform such additional duties as may be assigned from time to time by the Board. SECTION 3.5. Secretary. The secretary shall have charge of the records and correspondence of the Authority under the direction of the president. The secretary is responsible for the giving of notice of meetings of the Board, and the secretary shall attend the Board meetings and shall take and keep minutes of, and record all votes cast at,the meetings. The secretary shall discharge such other duties as may be assigned from time to time by the president or the Board. The secretary need not be a member of the Board. SECTION 3.6. Treasurer. (a)To the extent not otherwise provided in any resolution of the Board relating to the issuance of bonds or other obligations of the Authority or to instruments authorized by the Board to provide security therefor,the treasurer shall have the custody of all the funds and securities of the Authority and shall deposit them to the credit of the Authority in such banks or other depositories as the Board may designate. (b) The treasurer shall keep proper books of account and other records showing at all times the amount of the funds and other property belonging to the Authority and of all receipts and disbursements of the Authority. The treasurer shall, under the direction or'the Board, disburse all money and sign all checks and other instruments drawn on or payable out of the funds of the Authority and shall also make such transfers and other dispositions of the securities of the Authority as may be ordered by the Board. (c) The treasurer shall also discharge such additional duties as may be assigned from time to time by the Board. The treasurer shall give bond only if required to do so by the Board. The treasurer shall render to the president and to the Directors an account of all transactions of the treasurer and of the financial condition of the Authority upon request. TSHA.BYLAWS—Page 3 TAM.v2.9/21/2001 SECTION 3.7. Compensation of Officers. Officers are not entitled to receive any compensation for their services as officers, except for reimbursement of their actual expenses incurred in the performance of their official duties. ARTICLE IV FINANCIAL ADMINISTRATION SECTION 4.1. Appointment of Pro ram Administrator. The Board shall appoint a program administrator (the"Program Administrator")who shall be authorized to supervise the performance of all staff functions of the Authority and take any other action as authorized by the Board. The initial Program Administrator shall be Petty&Associates, Inc.,and Trent O.Petty shall be authorized to act as Program Administrator on behalf of Petty&Associates, Inc. The Program Administrator shall be compensated as determined by the Board. SECTION 4.2. Maintenance of Financial Records. Notwithstanding any other provision of these Bylaws,all financial and accounting records and all bank and trust accounts of the Authority shall be maintained at the principal corporate office of the Authority in the custody of the Program Administrator. Each Director shall have access to all financial records of the Authority at any time during normal business hours. SECTION 43. Financial Reports. The Program Administrator shall provide the Board with a monthly transaction report showing all income received and expenses paid during each calendar month. Upon the request of a majority of the Board,the Program Administrator shall provide any financial report,to the extent reasonably possible,to the Board. Upon the request of the treasurer,the Program Administrator shall assist the treasurer in the performance of the treasurer's duties. SECTION 4.3. Authorization to Write Checks. Notwithstanding any other provision of these Bylaws, the treasurer and the Program Administrator each shall be authorized to write checks on behalf of the Authority from any bank or trust account maintained by the Authority for any purpose authorized by the Board;provided that,with respect to any check in excess of$5,000,the check must be signed by the treasurer or the Program Administrator and by any other officer or member of the Board. ARTICLE V MISCELLANEOUS PROVISIONS SECTION 5.1. Time fbrl�aking Effect. These Bylaws shall take effect upon their adoption by the Board. SECTION 5.2. Resignation. Any Director or any officer of the Authority may resign at any time. A resignation shall be made by written instrument and shall take effect at the time specified therein or,if no time is so specified,at the time of its receipt by the present or the secretary of the Authority. The acceptance of a resignation is not necessary to make it effective unless expressly so provided in the instrument of resignation. SECTION 5.3. Fiscal ;rear. The fiscal year of the Authority shall be the annual period determined by resolution of the Board. SECTION 5.4. Seal. The official seal of the Authority shall be as determined by the Board. The seal shall not be necessary to the proper execution by the officers of the Authority of any document or instrument unless otherwise specified by the Board. SECTION 5.5. Special Requirements. The Authority sliall comply with the following special requirements: TSHA.BYLAWS—Paae 4 TA,M.v2M2I12001 (a) The Authority shall maintain its books and records separate and apart from any other legal entity. (b) The Authority shall not commingle its assets with the assets of any other legal entity. (c) The Authority shall maintain financial records separate from any other legal entity. (d) The Authority shall maintain an"arm-length"relationship with all other legal entities except as it otherwise required by law. (e) The Authority shall pay the salaries of its own employees. SECTION-5.6. Amendments. These Bylaws may be amended at any time, and from time to time, by resolution of the Board, which amendment shall not take effect until approved by the governing body of the Town. SECTION 5.7. Interpretation. These Bylaws shall be liberally construed to effect the purposes of the Authority. If any part of these Bylaws is ruled invalid by a court of competent jurisdiction,the remainder of these Bylaws shall remain in effect to the fullest extent possible under the application of such ruling. References in these Bylaws to the singular number shall include the plural and vice versa(unless the context otherwise requires). TSHA.BYLAWS—Page 5 TAM.v2.4/2 1/200 1 MINUTES AND CERTIFICATION On September 25,2001,the Board of Directors(the"Board")of the Texas Student Housing Authority(the "TSHA") convened in a public meeting at the designated meeting place in Westlake, Texas. The roll of duly constituted officers and members of the Board was called and are as follows: Name Title James P. Carter President Worth Blake Vice President Annette Bush Treasurer Dr. Patsy Sharp Member Dr. John Brooks Member Dr. Forrest Watson Member Mike Farhat ; Member all of whom were present except the following: J)A- ,thus constituting a quorum. Among other things, the Board considered the written resolution as follows: A Resolution Approving the Amendment of the Bylaws and Resolving Related Matters The Resolution was read by the Board. After due consideration, it was duly moved and seconded that the Resolution be adopted. The Presiding Officer put the motion to a vote of the Board, and the Resolution was adopted by the following vote: AYES: NOES: ABSTENTIONS: The Presiding Officer then declared the Resolution adopted. The persons named herein are the duly chosen, qualified, and acting officers and members of the Board as indicated herein. Each of the officers and members of th,-,Board was duly and sufficiently notified officially and personally, in advance, of the time, place, and purpose of the aforesaid meeting and that the resolution would be introduced and considered for adoption at the meeting. The meeting was open to the public, and public notice of the time, place, and purpose of the meeting was given all as required by Chapter 551 of the Texas Government Code. TSHA.MINUTES AND CERTIFICATION-Page: 1 TAM.v2.W2112001 MINUTES APPROVED AND CERTIFIED TO BE CORRECT and to correctly reflect the duly constituted members of the Board of the TSHA, and the attached copy of the Resolution is hereby certified to be a correct copy of an official copy thereof on file among the official records of the TSHA and such resolution has not been amended and is in full force and effect on this September 25, 2 00 1. By. , Name: Gin Crosswy Title: Secretary [SEAL] r TSIIA.MINUTES AND CERTIFICATION—Page 2 TAM.v2.9/21/2001 RESOLUTION APPROVING THE AMENDMENT OF THE BYLAWS AND RESOLVING RELATED MATTERS WHEREAS, the Texas Student Housing Authority (the "TSHA") is a higher education authority created pursuant to the Higher Education Authority Act(Chapter 53, Education Code)to act as a duly constituted authority and instrumentality on behalf of the Town of Westlake, Texas(the"Town"); WHEREAS, amendments made to the bylaws of the TSHA are required to be approved by the Board of Aldermen(the"Aldermen Board")of the Town; WHEREAS,the Aldermen Board has approved an amendment to the bylaws in the form of the "Amended and Restated Bylaws(the"Amended and Restated Bylaws"), attached hereto as Exhibit-A; WHEREAS, the Board of Directors (the"Board") has determined that it is in the interest of the TSH ,,k to approve the Amended and Restated Bylaws; and WHEREAS,the meeting at which this Resolution has been considered has been called and held,and public notice of the meeting has been given, in accordance with applicable law; THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE TEXAS STUDENT HOUSING AUTHORITY: SECTION 1. Preamble. The preamble of this Resolution is hereby adopted by reference and made part of this Resolution. SECTION 2. Approval of Amended and Restated Bylaws. The Board, acting on behalf of the TSHA,hereby approves the Amended and Restated Bylaws. SECTION 3. Effective Date of Amended and Restated Bylaws. The Amended and Restated Bylaws shall take effect immediately upon the adoption of this resolution. PASSED AND APPROVED BY TEXAS STUDEN 'DWTAUTHO s mber 25,2001. 1� James P. Carter,P esident TSHA.RESOLUTION—Page 1 TAM.v2.9/212001