June 1, 2006
UNIVERSITY OF HOUSTON SYSTEM
SPECIAL CALLED BOARD OF REGENTS
| Members Present: | Members Absent: |
|
Leroy L. Hermes, Chair
Michael J. Cemo, Vice Chair Dennis D. Golden, Secretary Morgan Dunn O’Connor Welcome Wilson Jim P. Wise |
Raul A. Gonzalez
Lynden B. Rose Calvin W. Stephens Robert B. Johnson |
The University of Houston System Board of Regents convened in Room 220, 4800 Calhoun at the University of Houston on Thursday, June 1, 2006. Noting the presence of a quorum, Chair Hermes called the meeting to order at 8:00 a.m.
Regent Hermes turned the meeting over to Regent Cemo for the Administration and Finance Committee Meeting.
Regent Cemo called to order the Administration and Finance Committee and asked Dr. John Rudley to introduce the items on the agenda.
Dr. Rudley presented the following items for consideration by the committee:
- Purchase of Property – UH System. Approval is requested to purchase property located in Northwest Houston. The property is located on Tract 8D, Abstract 826, at 20555 State Highway 249, Houston, Texas. The property consists of approximately 47 acres of real property, and 761,947 square feet of space situated in three office buildings, a manufacturing building, and two parking garages. If approved by the board, purchase of this property will be submitted to the Coordinating Board Planning Committee for their review on June 8, 2006 and for approval by the full Coordinating Board on July 20th. This schedule will allow the university to close on the property by the September 1, 2006 deadline. Dr. Rudley distributed a site map of the area.
- Consolidated Revenue Bonds, Series 2006: Bond Resolution, Preliminary Official Statement and Official Notice of Sale – UH System. Approval is requested to authorize the UH System to issue consolidated revenue bonds in an amount up to $38,785,000. This number includes $36,700,000 for the bonds, plus capitalized interest for one year, plus cost of issuance. The bonds will be sold by competitive bid and will provide funds for the purchase of land and buildings in Northwest Houston. Estimated interest rate for the bonds is 5.25%. Payment is equal to $3,167,456 per year for 20 years.
Approval is requested for the above two items contingent upon appropriate approval of the academic programs. A Special Called Board of Regents Meeting will be scheduled to approve the academic programs prior to the June 8, 2006 Coordinating Board Planning Meeting.
After Dr. Rudley’s presentation of both items, the regents discussed the possible use of the buildings and property. The regents also discussed partnership opportunities with the Northwest Houston community.
Regent Wilson moved approval of both items. Regent O’Connor seconded the motion, which passed unanimously.
There being no further business to come before the committee, the meeting adjourned at 8:22 a.m.
Regent Hermes reconvened the board meeting and asked for a motion to approve the Administration and Finance Committee recommendations. Regent O’Connor moved approval of the two items as presented. Regent Wise seconded the motion, which passed unanimously.
Pursuant to Subchapter D of Chapter 551 of the Texas Government Code, which allows governing boards to meet in closed session, the Board of Regents went into Executive Session at 8:22 a.m. The Board reconvened the meeting at 9:07 a.m.
EXECUTIVE SESSION REPORT
Regent Hermes announced that the regents discussed contracts, property, and personnel issues. There is no action as a result of this Executive Session.
INFORMATION ONLY:
Prior to the meeting, Regent Hermes welcomed Gerry Mathisen as the new Executive Administrator in the Board of Regents office and announced that Peggy Cervenka would be working with Gerry this summer. He also thanked Dona Hamilton and Janis Newman for assisting in the transition process.
In absence of further business, the Board adjourned at 9:08 a.m.
All documentation submitted to the Board in support of the foregoing action items, including but not limited to “Passed” agenda items and supporting documentation presented to the Board, is incorporated herein and made a part of these minutes for all purposes; however, this does not constitute a waiver of any privileges contained therein.
| Others Present: | ||
|
Jay Gogue
Dona Hamilton John Rudley Elwyn Lee Wendy Adair Don Guyton Peggy Cervenka |
Max Castillo
Donald Foss Michael Rierson Dave Irvin Janis Newman David Bell |
Ed Hugetz
Elaine Charlson Raymond Bartlett Jim McShan Brian Nelson Gerry Mathisen |
