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MINUTES |
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MINUTES |
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A Special Meeting of the Arizona Board of Regents was held March 9, 2001, in the Board's Central Office at 2020 North Central, Suite 230, Phoenix, Arizona. All Board members participated telephonically. President Ulrich called the meeting to order at 9:11 a.m.
| PRESENT: |
Regent George H. Amos, III |
| ABSENT: |
Regent Chris Herstam |
Also present telephonically were: President Lattie Coor, Mr. Paul Ward, Ms. Lisa Loo, and Mr. Terry Isaacson, Arizona State University. Present at the Central Office were: Executive Director Linda Blessing, Secretary to the Board Judy Garza, Board Counsel Joel Sideman, and Mr. Dave Harris, Central Office.
All lists, reports, summaries, background materials, and other documents referred to in these minutes can be found in the March 9, 2001, Documents File.
President Coor and Mr. Ward reminded the Board it had authorized ASU East to enter into a ground lease with a 501(c)(3) corporation in connection with the issuance of bonds necessary to finance the renovations to the housing facilities located at ASU East at its April 2000 meeting. The authorization provided that the ground lease could not exceed 30 years. However, the term of the ground lease is tied, in part, to the maturity of the bonds, and is now set for a period of approximately 37 years.
Upon motion of Regent Gignac, seconded by Regent Amos, the Board amended the authority previously granted to ASU East to enter into a ground lease in connection with the public-private financing of the renovation of the ASU East housing facilities by deleting the requirement that the ground lease cannot exceed 30 years.
The meeting adjourned at 9:26 p.m.
SUBMITTED BY:
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Judy E. Garza
Secretary to the BoardAPPROVED BY:
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Donald J. Ulrich, Jr.
President
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Gary Stuart
Assistant Secretary