August 26, 1998 Minutes

Board of Directors Meeting

A meeting of the Board of Directors of the Universal Service Administrative Company (USAC) was held by conference call on August 26, 1998. The meeting was called to order at 2:00 p.m. Central Time by Lisa Rosenblum, Chair. Cathy Howard, Executive Assistant to Cheryl L. Parrino, called roll.

1. The Budget and Finance Committee of the USAC Board recommended to the Board that the Board authorize USAC’s CEO to enter into a lease agreement for the proposed office building space at 2120 L Street, N.W., Washington, D.C., which will house USAC, Schools and Libraries Corporation, and Rural Health Care Corporation staff beginning on January 1, 1999. Since a quorum was not established at this meeting, a vote on this issue could not be taken. Considering the urgency of settling this issue due to timeframe constraints, it was suggested that a ballot be sent out to all members not on the call to solicit their vote on the following resolution:
   

   RESOLVED, that the USAC Board authorizes USAC’s CEO to enter into a five-year lease with the Gelman Building Limited Partnership for the premises located at 2120 L Street, N.W., Washington, D.C., beginning on January 1, 1999.

   The four members present agreed to this procedure.
   

2. The four members present discussed terms of the lease agreement. All four members voted affirmatively for the above resolution.
   

There being no further business to attend to, on a motion duly made and seconded, the meeting was adjourned at 2:23 p.m.

Ballots were sent out by fax (see attached) on August 26, 1998, to the 13 members of the Board not present for the conference call meeting.

Out of 17 Board members, there were 12 votes. All votes were affirmative. 

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Edward English
Secretary & Treasurer

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