HomeMy WebLinkAbout01-15-01 TSHC Min MINUTES AND CERTIFICATION
On January 15, 2001, 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 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
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. Gillum, Mr. Schubert and Dr. Sharp.
Also present were: Mr. Scott Bradley, Mr. Allen Moon, Mr. Larry Williamson, Mr. Bill
Moon, Mr. Trent Petty and Ms. Ginger Crosswy.
President Carter called the meeting to order at 6:20 p.m.
There was a motion by Dr. Brooks, seconded by Mr. Blake, to recess into
executive session. The motion carried unanimously and the Board moved into executive
session at 6:21 p.m.
The Board moved into open session at 7:42 p.m. with a motion by Mr. Blake,
econded by Ms. Bush, which carried unanimously.
Coming out of executive session there was a motion by Mr. Farhat, seconded by
Dr. Watson, authorizing Mr. Carter and Mr. Bradley to approach Leonard Ross with the
offer to let the Forum go back as a deed in lieu of foreclosure with Mr. Ross's agreement
to forgive the original $3,000,000.00 debt plus any accrued interest with no additional
cost to the Board. The motion carried unanimously.
Mr. Petty made a presentation to the Board regarding a consulting contract with
Petty and Associates. There was a motion by Dr. Watson, seconded by Dr. Brooks, to
authorize Mr. Carter to sign a contract with Petty and Associates for management
consulting at a cost of $15,000.00 per year to be reviewed in six months. The motion
carried unanimously.
There was a motion by Dr. Brooks, seconded by Ms. Bush, to authorize Mr.
Carter to enter into a one year extension of the management agreement with SSRS, Inc.
with the understanding that Mr. Petty will review this agreement and make a
recommendation at the end of the year concerning the fifteen year contract. The motion
carried unanimously.
There was a discussion concerning the current budget situation.
There was a motion by Dr. Watson, seconded by Ms. Bush, to recommend to the
Board of Aldermen of Westlake changing the governing structure of the Board by
establishing a Board of Governors and naming the ISD Superintendents to that Board.
The motion carried unanimously.
There was a discussion regarding enlarging the Board to eleven members.
There was a motion by Dr. Brooks, seconded by Ms. Bush, to adjourn. The
motion carried unanimously.
The meeting was adjourned at 8.22 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 19d' day of March, 2001.
ATTEST: es P. Carter, President
A ,
tinge Crosswy, Secre _