HomeMy WebLinkAbout1/19/2005 - Minutes •
Minutes
The Industrial Development Authority
Wednesday, January 19, 2005,10:00 a.m.
Members Present Guest
Bill Branch, Chairman Elizabeth Atkinson,
Steve Musselwhite, Vice Chairman Roanoke County Finance Department
Allan "Cap Robinson Jill Loope, Roanoke County Economic Development
Craig Sharp Alton L. Knighton, Jr.Woods Rogers, Attorney at Law
Linwood Windley PLC
Members Absent
Carole Brackman
Ed Natt, Counsel Neil Gallagher
Doug Chittum, Secretary-Treasurer
Terrie Cochran, Recording Clerk
Chairman Billy Branch called the meeting to order at 10:00 A.M.
Minutes
A motion was made by Allan "Cap" Robinson to approve the November 3 2004, minutes,
seconded by Linwood Windley, carried by unanimous voice vote.
Treasurer's Report
Elizabeth Atkinson, Roanoke County Finance Analyst presented the Treasurer's Report for the
current period through December 31, 2004. A motion was made accept the financial reports as
read, carried by unanimous voice vote.
New Business
1. Hollins University Revenue Bonds-Ed Natt, introduced Alton L, Knighton, Jr.from
Woods Rogers Attorney at Law, counsel for Hollins University Corporation. Hollins
University is requesting that the Authority execute two documents related to the
Authority's Educational Facility Revenue Bonds (Hollins College), Series 1998.
Attachment
The first such document would remove Wachovia Bank, National Association as the
trustee under the Indenture of Trust, and appoint First-Citizens Bank & Trust Co. as
temporary trustee under the Indenture of Trust.
The second document would be a supplement to the Indenture of Trust, which would
amend the Indenture to make a slight change in the provisions relating to the maturity of
investments held by the trustee under the Indenture.
After discussion and with the understanding the board has no financial obligation to the
Revenue Bonds held by Hollins University, a motion was made by Steve Musselwhite to
accept and approve the Resolution and was seconded by Linwood Windley.
Adjournment
Chairman Billy Branch adjourned the meeting at 10:30 a.m.
Respectfully submitted,
E. Douglas Chittum
Secretary-Treasurer
Next Scheduled Meeting:
Wednesday, February 2, 2005
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