May 28, 2003


Call to Order

Chairperson Engel called the special meeting to order at 8:32 a.m.

Roll Call

Present were: *Mr. Blair, *Mr. Dick, Mr. Engel, *Mr. Etzel, *Mrs. Parks, *Mr. Roth and *Mr. Wynn.

* Participated via telephone conference call.

Chairperson Engel outlined the agenda item which had been previously faxed to members of the Board indicating that the total amount of the project was projected at $7.2 million to be financed by the Washburn University 2003 Revenue Bond Issue in the amount of $7,200,000 plus cost of issuance which he said was estimated to be $250,000.

Mr. Engel reported there were eight bidders who submitted bids for the project. He said the first apparent low bidder, Murray & Sons Construction Co. Inc. the day following the bid opening notified the University it had made an error in its mathematical calculations for the bid which the University indicated was sufficient grounds for withdrawal of their bid under state statute. He said the next low bidder on the project was Ferrell Construction Company which submitted a bid of $5,693,777.

Chairperson Engel polled each of the members present by telephone conference call to determine whether there were questions. There were none. He then posed the question whether the operative action by the Board of Regents today should be to include a provision for contracting based upon successful issuance of the revenue bond.

University Counsel reported it was his opinion that inasmuch as the project is to be financed by the Washburn University 2003 Revenue Bond, such a proviso would be appropriate.

It was moved by Regent Etzel, seconded by Regent Wynn, to approve the University's administration to enter into a contract in the amount of $5,693,777 with Ferrell Construction Company for substantial completion of the project not later than 365 calendar days from the Notice to Proceed, all contingent upon successful issuance of the Washburn University 2003 Revenue Bonds. Motion passed unanimously.

There being no further business to come before the Board at this meeting, Chairperson Engel declared the meeting adjourned at 8:40 a.m.


Kenneth P. Hackler

Secretary, Board of Regents

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