January 17, 2007

Board Meeting Summary

Wells Fargo Place
Saint Paul, Minnesota

THIS SUMMARY IS NOT THE OFFICIAL MINUTES OF THE MEETING

Revenue Fund Bond Sale
The Board of Trustees authorized a Revenue Bond sale for no more than $46,320,000 for projects totaling about $35,900,000, subject to the parameters that were presented in the information. The Board of Trustees approved the Trust Indenture and the Series Resolution.

Chancellor's Recommendation for Distinguished Senior Fellow for Academic Affairs
The Board of Trustees approved the recommendation of Chancellor James H. McCormick to appoint Dr. Roy H. Saigo as distinguished senior fellow for academic affairs effective July 1, 2007, through June 30, 2008.

Amendments to Board Policy 1A.2 Board of Trustees, and Board Policy 1A.3 System Administration, Chancellor
The Board of Trustees approved the amendments to Board Policy 1A.2 Board of Trustees and 1A.3 System Administration, Chancellor.

Amendment to Policy 2.3 Student Involvement in Decision-Making
The Board of Trustees approved the amendment to Policy 2.3 Student Involvement in Decision-Making.

Amendment to Policy 2.10 Residence Hall
The Board of Trustees approved the amendment to Policy 2.10 Residence Hall.

Repeal of Policy 4.12 Eligibility for Early Separation Incentives
The Board of Trustees repealed Policy 4.12 Eligibility for Minnesota Statutes § 135E.395 (1994) Early Separation Incentives.

Central Lakes College Energy Savings Contract
The Board of Trustees approved Central Lakes College entering into 1) a 15-year contract valued at $2,111,631 with Energy Services Group (ESG) for the implementation of energy conservation projects at the Brainerd and Staples campus through a guaranteed savings program, and 2) a 15-year tax-exempt lease purchase agreement valued at $2,741,148 with Citimortgage, Inc. to finance the project. The approval is contingent upon final review and approval of the contract documents by the office of the Attorney General and the Office of the Chancellor.

Fond du Lac Tribal and Community College Athletic Request, Policy 2.6 Intercollegiate Athletics
The Board of Trustees approved the request for Fond du Lac Tribal and Community College to participate as a division three level institution for the purpose of offering intercollegiate athletics.

Revised FY 2007 Meeting Calendar
The Board of Trustees approved a revised meeting calendar for FY 2007, which included the addition of February 20 to the retreat already scheduled on February 21, and a public hearing on the FY 2008-2013 Capital Budget Request on March 20. The meeting dates for the remainder of the fiscal year and the annual meeting in July 2007, are:

February 20-21, 2007, Board Retreat
March 7, 2007, Hearing on FY 2008-2013 Capital Budget Request
March 20, 2007, Hearing on FY 2008-2013 Capital Budget Request
March 21, 2007, Committee and Board Meetings
April 18, 2007, Board Meeting
May 16, 2007, Committee Meetings
June 6, 2007, Special Board Meeting in Closed Session for Chancellor
Assessment
June 6, 2007, Hearing on FY 2008 Operating Budget Including Tuition and Fees
June 12, 2007, Second Hearing (if needed) on FY 2008 Operating Budget
Including Tuition and Fees
June 20, 2007, Board Meeting

FY 2008
July 18, 2007, Annual Board Meeting

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