Minutes of the Meeting of the
BOARD OF TRUSTEES
of Northern Illinois University
Teleconference Meeting
October 3, 1996
Call to Order and Roll Call
The teleconference meeting of the Board of Trustees was called to order by Chair Myron Siegel at 12:02 p.m. Recording Secretary Mimms conducted a roll call of Trustees. Present for the meeting were Trustees Susan Grans, George Moser, James Myles, Manuel Sanchez and Chair Siegel. Having noted the presence of a quorum, the meeting proceeded. Joining the conference later in the meeting were Trustee David Raymond and Student Trustee David Marquez. Not present was Trustee Robert Boey.
Verification of Appropriate Notice of Public Meeting
Confirmation of Open Meetings Act notification compliance was given by Board Parliamentarian Ken Davidson.
Meeting Agenda Approval
Trustee Grans moved for approval of the Agenda, seconded by Trustee Myles. The motion was approved.
Approval of Minutes
Trustee Grans moved for approval of the Minutes of the Executive Committee for the June 6 and 19 meeting and August 9 Teleconference meeting. Trustee Moser seconded the motion. The motion was approved.
PRESIDENT'S REPORT NO. 5
Agenda Item 6.a. - Business and Industry Services Storage Space Lease
President La Tourette stated that the BIS program wanted to add the rental of storage space on the lower level of their present building to the office space lease previously approved by the Board. The lease is effective through July 31, 1998, the termination date of the existing leases, at a cost of $810 per year. Funding will be provided through existing program revenues. Under the above terms and conditions, the president asked for approval of the BIS lease for additional storage space.
Chair Siegel asked for any discussion. There being none, he asked for a motion to approve the additional BIS lease. Trustee Raymond so moved and Trustee Grans seconded. The motion was approved.
Agenda Item 6.b. - Bond Offering
President La Tourette stated that at their September 18 Board Meeting, the Board of Trustees approved a resolution for the Executive Committee to approve issuance and sale of Northern Illinois University Auxiliary Facilities System Revenue Bonds, Series 1996. If market conditions remain favorable, the bonds could conceivably be sold at an interest rate of approximately 5.8%, realizing an approximate savings of $100,000. Refinancing the outstanding bonds, if acted on immediately, President La Tourette said, could conceivably save an estimated $425,000 to $525,000. The full Board was convened to consider and approve this matter in lieu of the Executive Committee, as originally scheduled, because of the uncertainty of having a quorum to transact business.
After a brief discussion, Chair Siegel asked for a motion for the Board to revoke the prior delegation to the Executive Committee for approval of the bond offering and, instead, act itself to approve issuance and sale of the Northern Illinois University Auxiliary Facilities System Revenue Bonds, Series 1996, and to authorize the officers of the Board to proceed to perform all necessary acts in furtherance thereof. Trustee Myles so moved with Trustee Moser seconding the motion. The motion was approved.
Agenda Item 6.c. - Residence Hall Master Plan - Phase I - Architects and Engineers for Implementation
Chair Siegel asked President La Tourette to introduce Agenda Item 6.c. President La Tourette stated that the Board of Regents had previously selected the architectural firm of Solomon, Cordwell, Buenz & Associates to plan and implement Phase I of the Residence Hall Master Plan. The Board of Regents approved contracting for the planning phase of the renovations. Construction is planned to commence in spring 1997 so that the project can be completed by August 1998 in time for fall semester occupancy. In order to meet this schedule, specific project design must begin immediately. Implementation of this phase would exceed the $250,000 allowed for university approval, therefore the university requests Board of Trustees approval for the architects and engineers to proceed.
A motion was made by Trustee Sanchez approving a contract with the previously selected architectural and engineering firm at a rate not to exceed CDB guidelines with the total project not to exceed $25 million. The motion was seconded by Trustee Moser. The motion was approved.
Dr. La Tourette stated to the Board that a student group was present and wished to address a matter of concern with the Board. Chair Siegel said he had not been previously informed that any other matters were to be discussed at the meeting. When the chair asked the other Trustees and, specifically, Student Trustee Marquez, if they had been made aware of any such matters, they stated that they had not. Chair Siegel said Board policy states that any matters to be brought before the Board must be submitted in writing 10 days prior to the meeting so that a decision can be made on whether they will be heard.
Chair Siegel then asked for a motion for adjournment. Trustee Sanchez made the motion and Trustee Moser seconded. The motion was approved.
The meeting was adjourned at 12:30 p.m.
Respectfully submitted,
Sharon M. Mimms
Recording Secretary
|
