WASHBURN UNIVERSITY OF TOPEKA

BOARD OF REGENTS

MINUTES

December 4, 2001

_________________________________________________________________________________



I. Call to Order



Vice Chairperson Engel called the meeting to order in Morgan Hall Room 204 at 1:25 p.m.



II. Roll Call



Present were: Mr. Engel, Mr. Dick*, Mr. Etzel*, Mr. Roth* and Mrs. Lee*.



* Participated via telephone conference call.



III. New Business



President Farley reported that the committee authorized by the Board at its last meeting to negotiate the sale of revenue bonds for the Student Union Renovation, Moore Bowl, student fitness, comprised of the Board Chair and Vice Chair, the Treasurer and himself, met with the University Bond Counsel and the Financial Advisor last week concerning the sale of the bonds and it was determined that the bond rates were beginning to trend upward and a decision made to sell the bonds. The Financial Advisor reported that the average rate of the bonds was 4.85 percent over the 20 year period, a rate more favorable than other issues being offered. Mr. Engel, chairing the meeting, read the Resolution proposed for adoption. Mr. Dick moved, and Mr. Etzel seconded, the ratification of the sale of the bonds and the adoption of the following Resolution.



RESOLUTION



A RESOLUTION OF THE BOARD OF REGENTS OF WASHBURN UNIVERSITY OF TOPEKA, SHAWNEE COUNTY, KANSAS, AUTHORIZING AND DIRECTING THE ISSUANCE OF BUILDING REVENUE BONDS, SERIES 2001 A & B, IN THE PRINCIPAL SUM OF $11,200,000 FOR THE PURPOSE OF PROVIDING FUNDS TO PAY A PORTION OF THE COST OF ACQUIRING, EQUIPPING, REHABILITATING, RENOVATING AND FURNISHING CERTAIN BUILDING IMPROVEMENTS, AND DOING ALL THINGS NECESSARY AND INCIDENTAL THERETO; PRESCRIBING THE FORM AND DETAILS OF SAID REVENUE BONDS; PROVIDING FOR THE COLLECTION, SEGREGATION AND APPLICATION OF FUNDS AND REVENUES OF THE BUILDINGS AND OTHER LAWFULLY AVAILABLE FUNDS OF THE UNIVERSITY FOR THE PURPOSES AUTHORIZED BY LAW; AND PAYING THE PRINCPAL OF AND INTEREST ON SAID BONDS, UNDER THE AUTHORITY OF K.S.A. 76-6A13 ET SEQ., AS AMENDED AND SUPPLEMENTED.





Motion passed unanimously.



There being no further business, the meeting adjourned at 1:30 p.m.







_______________________

Kenneth P. Hackler

Secretary, Board of Regents


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