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HomeMy WebLinkAbout02-13-99 TSHC Min MINUTES AND CERTIFICATION On February 13, 1999, the Board of Directors (the "Board") of the Texas Student Housing Corporation (the "TSHC") convened in a public meeting at the designated meeting place in College Station, 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 Charles Bradberry Member Dr. Patsy Sharp Member Dr. John Brooks Member Dr. Ted Gillum Member Carroll Schubert Member Mike Farhat Member all of whom were present except Mr. Bradberry, Dr. Watson, Dr. Brooks, Dr. Gillum and Mr. Farhat. Also present were: Mr. Scott Bradley, Mr. Charles Haynes, Mr, Bill Davis, Mr. Steve Ross and Ms. Ginger Crosswy. President Carter called the meeting to order at 2:20 p.m. and thanked Mr. Ross and his staff for hosting the meeting. There was a motion by Mr. Blake, seconded by Mr. Schubert, to accept the minutes of the meeting held on September 17, 1998, as presented. This motion carried unanimously. Consider and take action on an extension of the management contract with SSRS, Inc. Mr. Ross and Mr. Davis presented the new contract to the Board. Mr. Bradley, the Board's legal counsel, noted the concerns that he had with the contract. These concerns were negotiated between the parties to everyone's satisfaction. Motion by Ms. Bush, seconded by Mr. Blake, to approve the new management contract with SSRS, Inc., with a modification made to Section 6.11 adding that a six month advance notice must be given to the TSHC before the management company may resign its contract and that the Board will then have the right to extend the contract on a month to month basis for an additional six months, if needed to find a replacement, The motion carried unanimously. There was a lengthy discussion concerning such topics as the refund of a payment made in error on the audit, the student's response to the Board's request for letters updating their progress and rewording the letters being sent to the new scholarship recipients stating that any upgrade in room would be at the student's expense. Mr. Bradley gave a report on the situation of scholarship recipient Laura DeCook. Mr. Haynes gave a report on the situation regarding the audit of the Madison House property. Mr. Haynes was instructed to send a letter requesting the information submitted by A.S.C. Management, Inc. to the Internal Revenue Service. Motion by Mr. Blake, seconded by Dr. Sharp, asking Mr. Carter to prepare a letter of appreciation to Mr. Ross and his management team. The motion carried unanimously. There being no further business to bring before the Board, the meeting was adjourned at 3:20 p.m. Although a quorum was not present for actions taken at this meeting, the Board was advised that such actions could become official if, subsequent to this meeting, each absent member was accorded an opportunity to review the actions and unanimous consent was expressed by all absent members. The Secretary attests that such action has been taken and that all absent members have affirmed, as evidenced by their signature hereon, their approval of said actions. 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 a day of 1999. ?r [SEAL] '�''/`� . mes P. Carter, Pre dent ATTEST: �3-- ing Crosswy, Secret APPR VED AND ADO TE Worth Blake, Vice President Ted Gillum, Director A inette Bush, Treasurer Charles Bradberry, Director IIL7it Carroll W. Schubert, Director Jo Brooks, Director ~.F est Watson, Director Mike Farhat irector Patsy Sh5,, Director f