HomeMy WebLinkAbout11-01-18 TSHA Min TEXAS
STUDENT HOUSING
MINUTES OF THE MEETING OF
THE BOARD OF DIRECTORS OF THE
TEXAS STUDENT HOUSING AUTHORITY
(AN INSTRUMENTALITY OF THE TOWN OF WESTLAKE)
November 1, 2018
99 Trophy Club Drive
Trophy Club, TX 76262
PRESENT: Board members Scott Bradley, James Krekow, Rich Mueller, Paula
Peterson and Executive Director Tracy Harrow. Counsel Jim Morris.
Not in attendance: Board members Mark Harrow, Randy Quick,
and Katie Kolkmeier.
1. CALL TO ORDER.
President Bradley called the meeting to order at 6:51 p.m.
2. REVIEW AND CONSIDER APPROVAL OF MINUTES FOR THE MEETING HELD
AUGUST 16, 2018.
DISCUSSION: Director Mueller made a motion to approve the minutes of the
August 16, 2018 meeting. Director Peterson seconded the motion. The
motion passed unanimously.
3. EXECUTIVE SESSION
The Board convened into a closed session pursuant to Texas Government Code,
annotated, Chapter 551, Subchapter D at 6:53 p.m. to seek advice of legal counsel on
the following:
POTENTIAL APPROVAL OF SETTLEMENT AGREEMENT IN THE CASE No. DC-16-
10330 ITG FUND MANAGEMENT, LLC vs THE BANK OF NEW YORK MELLON
TRUST, CAMBRIDGE STUDENT HOUSING, ASSET CAMPUS HOUSING, TEXAS
STUDENT HOUSING AUTHORITY, OPPENHEIMER AND CAMBRIDGE STUDENT
HOUSING FINANCE COMPANY.
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4. RECONVENE INTO OPEN SESSION
The Board adjourned the Executive Session and reconvened into Open Session at 7:17
p.m.
S. DISCUSS AND CONSIDER APPROVAL OF SETTLEMENT AGREEMENT IN THE
CASE No. DC-16-10330 ITG FUND MANAGEMENT, LLC vs THE BANK OF NEW
YORK MELLON TRUST, CAMBRIDGE STUDENT HOUSING, ASSET CAMPUS
HOUSING, TEXAS STUDENT HOUSING AUTHORITY, OPPENHEIMER AND
CAMBRIDGE STUDENT HOUSING FINANCE COMPANY.
DISCUSSION: Director Mueller made the motion to approve the following settlement
agreements in Case No. DC-16-10330: (1) the Agreement between
Oppenheimer and TSHA dated October 31, 2018; and (2) the Rule 11
Agreement between ITG Fund Management, LLC, Student Housing
Finance Solutions, LLC, The Nina K. Allen Trust Dated March 20, 2007,
Oppenheimer Rochester High Yield Municipal Fund and Texas Student
Housing Authority, dated October 311 2018, as presented to the Board
of Directors by legal counsel. Director Peterson seconded the motion.
The motion passed unanimously.
6. ADJOURNMENT
President Bradley adjourned the meeting at 7:22 pm.
APPROVED by the Texas Student Housing Authority Board of Directors on
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Scott Bradley, President
ATTEST:
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Katie Kolkmeier, Secretary
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