HomeMy WebLinkAbout02/25/1988 - Regular Minutes City Council (2)EXHIBIT A
MINTUES FROM PUBLIC HEARING
MARCH 2, 1988
My name is Larry Holt, I am General Counsel for the Greater East
Texas Higher Education Authority, Inc. and we are here to hold a
public hearing on the proposed 1988A Bond Issue of the
Authority. We are now in the offices of the Authority located
at 416 Tarrow, College Station, Texas. It is now 10:00 a.m. and
looking around the room I see the persons present here now
included Dr. J. Malon Southerland, Dr. Charley Wootan, Dr. Jim
Carroll, Dr. Wesley Summers. I would also note that no member
of the public has appeared at this hearing and would state for
the record that the notice of public hearing was published in THE
EAGLE in its February 16, 1988 issue. I will also note for the
record that the notice of public hearing was posted outside the
offices on the office building containing the offices of the
Authority and the office door of the Authority itself. As stated
in the notice, the proposed bonds are being issued for the
purpose of acquiring certain qualified loans made to students or
parents of students pursuant to the Higher Education Act of 1965,
as amended, for the purpose of financing such students
postsecondary education, In order to qualify for purchase by the
Authority, such students or parents must be made by such loans
must be made by eligible lenders to or on behalf of students who
are residents of or who attend eligible institutions located
within the State of Texas as the terms eligible lender and
eligible institutions are defined by the Higher Education Act.
The maximum aggregate face amount of the Bonds will be an amount
not to exceed $75,000,000. These Bonds are tax exempt under the
Internal Revenue Code and further approvals have been sought from
the sponsoring Cities of Bryan and College Station and after the
public hearing propose to seek such approval today. I would open
the floor to any questions or comments from those present. I
would note at this juncture also that no member of the public or
any person other than individuals identified above which I think
I omitted from those present, Ms. Judy Hill. I now request
comments from anybody present. No comments were received. There
being no comments received I declare this hearing closed.
SIGNED this 2nd day of March, 1988.
Larry G. Holt
General Counsel
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