MINUTES OF MEETING OF
PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY
A special meeting of the Private Colleges and Universities Authority (the “Authority”) was held on Tuesday, August 15, 2019, the offices of the law firm of Alston & Bird LLP (“Alston & Bird”), at 1201 West Peachtree Street, Atlanta, Georgia at 10:00 a.m. Members John W. Robinson, Jr., Joseph W.C. Montgomery, David Sims, and Bill Tanner attended the meeting in person. Member, George Andrews, attended the meeting via telephone. Amber Pelot, Colony C. Canady and Meredith Kingsley of Alston & Bird, as counsel to the Authority, were also present in person for the meeting.
The following guests were also present:
King & Spalding (Bond Counsel and on Behalf of Emory University)
Caroline Loftin (via telephone)
Floyd Newton
Emory University
Amy Reding Andrews (via telephone)
Kallarin MackeyMark DeLorenzo
Troutman Sanders Strategy Group
Samantha Hill
Regan Marsh
Lawrence Bell, IV
Call to Order
Mr. John W. Robinson, Jr. called the meeting to order. All members and guests introduced themselves.
Pricing update related to the Authority’s Revenue Bonds, Series 2019, for the benefit of Emory University (the “Series 2019 Bonds”)
Mr. Newton presented the pricing update. The Series 2019 Bonds sold with maturities of 2048, coupons at 5%, and yields at 2%. Mr. Newton noted that closing was scheduled for August 28th and the only outstanding item was the executed TEFRA approval, which they hoped to receive soon.
Consideration of Supplemental Resolution for the benefit of Emory University related to the Series 2019 Bonds
Mr. Newton then presented on the Supplemental Resolution, walking the Authority members through the purpose and terms of such Supplemental Resolution.
After some discussion, a motion was made by Mr. Montgomery and seconded by Mr. Tanner to approve the Supplemental Resolution. The motion was approved unanimously by the members of the Authority.
Monitoring of Bills
The Troutman Sanders Strategies (“TSS”) team presented regarding the monitoring of legislative bills and the services offered by TSS. Several Authority members asked questions of the TSS team regarding their monitoring services. The members agreed to discuss the TSS proposal further.
Approval of Minutes of June 18, 2019 Meeting of the Authority
A motion was made by Mr. Sims and seconded by Mr. Tanner to approve the minutes of the June 18, 2019 meeting as presented to the members of the Authority. The motion was approved unanimously by the members of the Authority.
Authority Website
Mr. Andrews presented to the Authority regarding a potential new website of the Authority and the creation of such website by a company called The Business & Brand. Samples of the work of The Business & Brand were circulated in advance of the meeting to the Authority members for review. The Authority members asked questions about the potential website and its anticipated content. The fee proposed by the company for the website creation and design was $5,000.
After discussion, a motion was made by Mr. Montgomery and seconded by Mr. Tanner to proceed with the website creation and design by The Business & Brand at the cost of $5,000. The motion was approved unanimously by the members of the Authority.
Recap on HB 553 Litigation
Ms. Kingsley provided a recap of HB 553 Litigation and answered questions from the Authority members related thereto.
Treasurer’s Report
Mr. Montgomery then presented the Authority members with an Alston & Bird invoice related to the HB 553 litigation. Following some discussion, a motion was made by Mr. Montgomery and seconded by Mr. Tanner to approve and pay the Alston & Bird invoice related to the HB 553 litigation. The motion was approved unanimously by the members of the Authority.
Other Business
Ms. Canady provided a brief update on the status of the transfer of the Authority’s investment and checking accounts over to FTN Financial.
Adjournment
A motion was made by Mr. Tanner and seconded by Mr. Sims to adjourn the meeting. There being no additional business, the motion was approved unanimously by the members of the Authority, and the meeting was adjourned.
Respectfully submitted,
Amber Pelot,
Assistant Secretary