February 7-8, 1985
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
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.
The meeting adjourned at 12:05 P.M.
Mary Lou Moser