02/07/1985

UCCSN Board of Regents' Meeting Minutes
February 7-8, 1985








02-07-1985

Pages 79-81



                         BOARD OF REGENTS

                    UNIVERSITY OF NEVADA SYSTEM

                         February 7, 1985



The Board of Regents met on the above date for a special meeting

at Western Nevada Community College, Carson City, Nevada.



Members present:  Mr. Daniel J. Klaich, Chairman

                  Ms. Frankie Sue Del Papa

                  Mr. Joseph M. Foley

                  Mrs. Dorothy S. Gallagher

                  Mrs. Jo Ann Sheerin

                  Mrs. Carolyn M. Sparks



Members absent:   Mr. Chris Karamanos

                  Mrs. June Whitley



Others present:   Chancellor Robert M. Bersi

                  Deputy Chancellor Mark Dawson

                  President William Berg, NNCC

                  President Anthony Calabro, WNCC

                  President Joseph N. Crowley, UNR

                  President V. James Eardley, TMCC

                  President James Hidy, DRI

                  President Robert Maxson, UNLV

                  President Paul Meacham, CCCC

                  Vice Chancellor Ron Sparks

                  Vice Chancellor Warren Fox

                  General Counsel Don Klasic

                  Secretary Mary Lou Moser



Chairman Klaich called the special meeting to order at 11:07 A.M.

stating the purpose to be for the consideration of a sales reso-

lution which would refinance the UNS pavilion bonds.



 1.  Approved the Sales Resolution to Refinance Pavilion Bonds



     Approved Resolution 85-4, a sales resolution for the re-

     financing of the State of Nevada General Obligation Bond

     issue on the UNS pavilions.  Mr. Dawson reviewed the author-

     ity given by the Board to the staff to follow the bond mar-

     ket and when it became feasible to call a meeting of the

     Board for their consideration.



     Under this refinancing proposal, UNS will realize $862,752.



     The following representatives were present to answer ques-

     tions concerning the refinancing of these bonds:



         Mr. Paul Howarth, Prudential Bache

         Mr. Steve Brown, Paine Webber

         Mr. Peter Nolan, Paine Webber

         Mr. John Swenseid, Sherman Howard

         Mr. Jon Armstrong, Merrill Lynch

         Mr. Steve Heany, E. F. Hutton



     These representatives answered questions explaining the re-

     financing.  Mr. Nolan stated that Nevada is not the only

     State considering the refinancing of bonds, but they are

     the first to do so.  Further, he stated this was due to the

     alertness of the staff and further commended them for their

     cooperation.



     Mrs. Kenney moved for the adoption of the sales resolution

     85-4 which has been filed with the Secretary of the Board.

     Seconded by Mrs. Gallagher.  Motion carried unanimously.



     Mr. Nolan presented the Board with checks totaling $427,200

     for the first installment of the refinancing.



 2.  Supplemental Item Concerning the Silver Bowl, UNLV



     The Chairman stated that inasmuch as the supplemental item

     had not been properly posted as defined in the Open Meeting

     law, that the Board would address this item in a telecon-

     ference meeting on Wednesday, February 13, 1985.



The meeting was adjourned at 11:35 A.M.



The Chairman reconvened the meeting at 11:55 A.M.  Upon learning

that Nevada National Bank would serve as trustee for this bond

issue, Mrs. Gallagher stated she must abstain from voting since

she is a member of their Board of Directors.  She would also be

ineligible to second the motion.



Chairman Klaich called for a new motion.



Ms. Del Papa moved approval of the sales resolution 85-4 on the

refinancing of the UNS pavilion bonds as filed with the Secretary

of the Board.  Mrs. Sparks seconded.  Motion carried.  Mrs.

Gallagher abstained.



The meeting adjourned at 12:05 P.M.



                             Mary Lou Moser

                             Secretary

                                                       02-07-1985