MINUTES OF THE EXECUTIVE COMMITTEE
OF THE BOARD OF GOVERNORS
MISSOURI STATE UNIVERSITY
NOVEMBER 19, 2019
1. Roll Call:
Present - Mr. Gabriel Gore, Chair of the Board (by conference call)
Mr. Craig Frazier, Governor
Ms. Beverly Miller Keltner, Governor (by conference call)
Ms. Carrie Tergin, Governor (by conference call)
Also Present - Mr. Clifton M. Smart III, President (by conference call)
Dr. Jim Baker, Vice President for Research and Economic Development International
Programs
Mr. Michel Bampoe, Assistant Director of Human Resources – Benefits
Mr. Brad Kielhofner, University Engineer and Director Facilities Management
Mr. Bill Burns, Director, Gilmore & Bell
Ms. Donna Christian, Director of Internal Audit and Risk Management
Mr. Ryan DeBoef, Chief of Staff and Assistant to the President for Governmental Relations
Ms. Rachael Dockery, General Counsel and Chief Compliance Officer (by conference call)
Ms. Tammy Few, Director of Human Resources
Mr. Steve Foucart, Chief Financial Officer
Ms. Reagan Holliday, Managing Director, Hilltop Securities, Inc.
Mr. Marshall Kinne, Director of Compliance, Med-Pay, Inc.
Mr. Allen Kunkel, Associate Vice President, Research and Economic Development
Mr. William Miller, Student Governor (by conference call)
Mr. Matt Morris, Vice President for Administrative Services
Mr. Tom Peters, Dean of the Library
Ms. Carol Silvey, Governor (by conference call)
Ms. Suzanne Shaw, Vice President for Marketing and Communications
Ms. Rowena Stone, Executive Assistant to the President
Mr. Mark Wheeler, University Architect and Director of Planning, Design and Construction
Ms. Kristan Gochenauer, Secretary of the Board
2. Presiding – Mr. Gabriel Gore, Chair of the Board of Governors, called the Executive
Committee conference-call meeting to order at 2:03 p.m. in Room 203 of Carrington
Hall on the campus of Missouri State University in Springfield, Missouri.
3. Approval of Minutes – Mr. Gore mentioned that the first item of business was
the approval of the minutes for the open meeting of September 18, 2019. Mr. Craig
Frazier so moved, receiving the second from Ms. Carrie Tergin.
Motion passed 3-0.
4. Procurement and Financial – Mr. Steve Foucart, Chief Financial Officer, reviewed the bond issue with the Executive Committee noting that today’s sale of bonds was successful and will provide a savings of approximately $1.5 million. He then thanked Ms. Reagan Holliday, Director at Hilltop Securities, Inc., and Mr. Bill Burns, Director of Gilmore & Bell, for their work.
Ms. Holliday stated that the sale of the bonds was within the parameters established. The Series 2019A Auxiliary Bonds pricing principal amount is $15,980,000. These carry a true interest cost rate of 2.76% with a final maturity date of October 1, 2035. The Series 2019B MoHEFA Bonds pricing principal amount is $6,780,000. These carry a true interest cost rate of 2.65% with a final maturity date of October 1, 2035.
Mr. Foucart then recommended approving final terms of (1) the University’s Auxiliary Enterprise System Revenue Bonds, Series 2019A, and (2) the Health and Educational Facilities Revenue Bonds (Missouri State University), Series 2019B, to respectively provide funds to refund certain outstanding Auxiliary Enterprise System Revenue Bonds of the University and certain Educational Facilities Revenue Bonds of the Authority (Finance No. 1085-19). Ms. Beverly Miller Keltner made a motion to approve the recommendation, receiving a second from Mr. Frazier.
Motion passed 3-0.
Mr. Burns and Ms. Holliday left the meeting at this time.
A resolution summarizing the Procurement Services’ Office activities from September 13, 2019 through November 15, 2019 (Purchasing Activity Report No. 483-19) was presented. The two items included in the resolution were:
• Approval recommended for reinsurance (stop loss) for employee group medical plan.
Mr. Matt Morris, Vice President for Administrative Services stated that two proposals
were received – Liberty Mutual Insurance and Tokio Marine HCC. Mr. Marshall Kinne,
Director of Compliance with Med-Pay, Inc., stated that Tokio Marine HCC has a strong
rating and recommends that the University accept their proposal of $1,049,421.60,
which includes the same deductibles as last year and no lasers. This proposal will
allow for an approximate 3.79% cost savings. The contract period is January 1, 2020
through December 31, 2020.
• Approval recommended of journal subscription renewals for Meyer Library with
Elsevier B.V. Cost of the one-year e-subscription is $256,395.70. Mr. Foucart noted
that by subscribing directly with the publisher, the University will see a savings
of approximately 1%. Period covered is January 1, 2020 through December 31, 2020.
Mr. Frazier made a motion to approve the purchasing activity report, receiving a second from Ms. Tergin.
Motion passed 3-0.
Mr. Michel Bampoe, Assistant Director of Human Resources – Benefits, Ms. Tammy Few, Director of Human Resources, Mr. Kinne and Mr. Tom Peters, Dean of the Library, left the meeting at this time.
5. Facilities and Equipment – Mr. Morris recommended approval of bids and award of a contract to replace the boiler controls at the Power House (Bids & Quotations No. 1580-19). A low bid of $362,000 for the base bid was received from Locke AMI, LLC. Total budget is $535,000 with an expected completion during the summer of 2020. Ms. Miller Keltner moved the resolution, receiving a second from Mr. Frazier.
Motion passed 3-0.
6. Closed Meeting – It was determined that the Board of Governors needed to meet in a closed session to consider items of business provided in the Revised Statutes of Missouri. Mr. Gore asked if a resolution authorizing a closed meeting of the Board was prepared. Thereupon, the following resolution was presented for consideration:
BE IT RESOLVED by the Board of Governors for Missouri State University that a closed meeting, with closed records and closed vote, be held during a recess of this November 19, 2019, Executive meeting of the Board of Governors to consider items of business pursuant to:
A. R.S. Mo. 610.021(1). “Legal actions, causes of action, or litigation involving a public governmental body…”; and
B. R.S. Mo. 610.021(11) and (12). “Specifications for competitive bidding...;” and “Sealed bids and related documents...
Ms. Tergin moved the approval of the resolution and Mr. Frazier seconded the motion.
A roll call vote on the motion was as follows: those voting in favor – Governors
Frazier, Gore, Miller Keltner and Tergin; those voting against – none.
Mr. Gore declared the resolution passed unanimously. The open meeting was recessed
at 2:35 p.m. to go into closed session.
The open meeting was reconvened at 2:54 p.m.
7. Adjournment – Mr. Gore adjourned the conference-call meeting at 2:54 p.m.
Kristan E. Gochenauer
Secretary of the Board