GOVERNING BOARD
JANUARY 13, 2004
MINUTES
A special board meeting, and strategic conversation of the Maricopa County
Community College District Governing Board was scheduled to be held at 6:30
p.m. at the District Support Services Center in Tempe, Arizona, pursuant to
A.R.S. §38-431.02, notice having been duly given.
PRESENT
GOVERNING BOARD
Linda Rosenthal, President
Don Campbell, Secretary
Ed Contreras, Member
Nancy Stein, Member
ADMINISTRATION
Rufus Glasper
Anna Solley
Steve Helfgot
Debra Thompson
Jose Leyba
Ron Bleed
Larry Christiansen
Ken Atwater
Homero Lopez
Linda Thor
Gene Giovannini
Ginny Stahl for Art DeCabooter
Corina Gardea
Maria Hesse
Paul Dale
Phil Randolph
Pete Kushibab
I. SPECIAL BOARD MEETING
CALL TO ORDER
President Contreras called the Special Board Meeting to order at 6:35 p.m.
A. ACTION
1. APPROVAL OF TIMETABLE FOR AND RESOLUTION AUTHORIZING THE SALE OF GENERAL
OBLIGATION REFUNDING BONDS AND CERTIFICATES OF OWNERSHIP OF SUPPLEMENTAL INTEREST
Acting Vice Chancellor Debra Thompson commented that the resolution reflected authorization for the issuance and sale of General Obligation Refunding Bonds, Series 2004 in the amount of not to exceed $68,475,000 and Certificates of Ownership of Supplemental Interest in the amount of not to exceed $7,000,000. Ms. Thompson further explained that Given the current low interest rate environment, District staff and RBC Dain Rauscher have reviewed all of the District's outstanding debt for possible refinancing savings opportunities. At this time, up to $68,475,000 of the District's outstanding General Obligation Bonds make economic sense to refinance at current interest rates. Based on current market interest rates, a refinancing of these Bonds is estimated to save the District and its taxpayers approximately $3,600,000 over the maturity length of the Bonds or about $3,160,000 on a present value basis, net of all costs incurred in issuing the Refunding Bonds. These estimated savings amount to approximately 4.62% of the principal amount of the Bonds being refunded. The specific bonds include the 2004 through 2009 maturities from the District's Project of 1994, Series A Bonds that were issued in 1995, and certain portions of the 2007 through 2013 maturities from the District's Project of 1994, Series B Bonds that were issued in 1997.
Adoption of the Resolution authorizes the issuance of the General Obligation Refunding Bonds and Certificates to achieve debt service savings. To accomplish the refunding, proceeds received from the sale of the Refunding Bonds and the Certificated will be deposited in a bank escrow account to pay off the principal of the Bonds being refunded ($68,475,000), a 1% call premium on the Bonds being refunded ($684,750) or the amount paid to bond holders for the right to recall repay the bonds), interest on the Bonds being refunded until their respective call dates ($8,419,658).
MOTION NO. 9214
Mrs. Rosenthal moved for approval of the Timetable For And Resolution Authorizing The Sale Of General Obligation Refunding Bonds And Certificates Of Ownership Of Supplemental Interest. Motion approved 4-0.
B. ELECTION OF GOVERNING BOARD OFFICERS FOR CALENDAR YEAR 2004
Before declaring the vacancies of the offices of President and Secretary of
the Maricopa
County Community College District Governing Board, President Contreras informed
those present that last week the Governing Board and the Maricopa Community
College District had experienced the death the Governing Board Member Gene Eastin.
Mr. Eastin had spent a large majority of his life teaching and had served as
Governing Board Member the last seven years. In his last conversations with
Mr. Eastin and members of the family, he stated that Mr. Eastin had indicated
he did not wish to resign but wanted to continue to serve this year as an active
member and secretary of the board. He expressed respect for Mr. Eastin's contributions
and the time he devoted to the Maricopa Community College District. He expressed
appreciation for his commitment and steadfastness to ideals. Mr. Eastin will
be missed by the District and the fellow Governing Board Members. A moment of
silence was held in honor of Gene Eastin, deceased January 8, 2004.
President Contreras declared the vacancy of the office of President of the Maricopa County Community College District Governing Board and called for nominations. Governing Board Member Don Campbell proposed the nomination of Mrs. Linda B. Rosenthal for the office of President. There being no further nominations, President Contreras closed the nominations and called for a motion to approve. Motion approved 4-0.
President Contreras declared the vacancy of the office of Secretary of the
Maricopa County Community College District Governing Board and called for nominations.
Governing Board Member Nancy Stein proposed the nomination of Dr. Don Campbell
for the office of Secretary. There being no further nominations, President Contreras
closed the nominations and called for a motion to approve. Motion approved 4-0.
C. ADJOURNMENT OF SPECIAL BOARD MEETING
President Contreras adjourned the special meeting of the Governing Board at 6:10 p.m.
II. LISTENING SESSION
President Contreras transitioned the meeting over to President Linda Rosenthal. Mrs. Rosenthal welcomed everyone present to the evening's strategic conversation intended to review the Maricopa Community College District's Vision, Mission and Values.
The Strategic Conversation proceeded as follows:
Lynn Jennings, Instructional Designer in the Center for Learning and Instruction, served as facilitator for Appreciative Inquiry Process employed in the evening's activities. She described appreciative inquiry as the inquiry into exceptionally positive stories or moments. The following activities were employed:
Activity #1: Participants were seated at tables of six and each participant selected a partner from their small group to interview using the interview guides located at their tables. This activity took 40 minutes.
Activity #2: Upon completion of the partner interviews, each individual took a turn to briefly share the best stories about direction, mission, vision, and values that their partner told. The interviewer shared 3-5 key highlights of the stories they heard (elements about the stories that evoked energy and passion). This activity took 30 minutes.
Activity #3: The small groups identified themes, elements, or words in the stories told by group members and recorded them on the flipcharts. This activity took 15 minutes.
Activity #4: The small groups choose the top 5 common themes that most energized and excited everyone and wrote those themes on a separate clean piece of flipchart paper and posted that on the wall. (This activity took 5 minutes.)
Activity #5: All participants strolled around the room viewing the common themes posted on the walls. After reviewing all common themes, they identified 3-5 common themes by posting "dots' on those that most appealed to them individually and best captured the essence of the Maricopa Community Colleges.
Attachments
· Raw Data from the Strategic Conversation
flipchart pages
· Common Themes from the Strategic Conversation
flipchart pages
· Feedback from forms filled out
ADJOURNMENT
The meeting concluded at 8:35 p.m.
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Dr. Donald R. Campbell
Governing Board Secretary