EPSILON BETA OF ALPHA TAU OMEGA
BUILDING COMPANY
 
 

Minutes of the Annual Meeting of the Membership on November 8, 2003:

 

The Annual General Membership Meeting of the Epsilon Beta of Alpha Tau Omega Building Company (an Arizona non-profit corporation), at the University of Arizona was called to order at 11 a.m. on Saturday, November 8, 2003. The meeting was held in the Alpha Tau Omega Alumni tent on the campus of the University of Arizona in Tucson, Arizona. Approximately 32 members were present. Board President Bill McMahon presided. He noted the presence of a quorum.

Treasurer Dwight Eller presented a financial report indicating a total of approximately $275,000 is assets in various accounts. Brother Malcomb and Olsen briefed the membership on major stock changes in the portfolio in the past year.

Brother Richardson briefed the membership on the status of the UofA Greek System, noting a number of major fraternities under suspension or probation. He briefed members on the plans of the Sigma Chi chapter to move from a traditional house to more of a lodge designed for education and brotherhood purposes, but sleeping no one and closing each evening at 11 p.m.

On a motion from Brother Pegler and a second from Brother Malcomb, the membership unanimously agreed to delay until 2005 any consideration of rechartering Epsilon Beta.

Brother Richardson recused himself from any discussion of the next agenda item -- recommendation of renegotiation of loan to AzRoadConstruction.com President McMahon briefed the membership on the Board's decision in 2002 to loan $10,000 to that company with repayment terms over three years. The company has since folded and has repaid the principal and offered a 3% interest on the time it had the funds. On a motion by Brother Olsen and a second by Brother Pegler, the membership approved the renegotiated terms.

A discussion ensued on the size of the Building Company Board. Brother Richardson had suggested a smaller number than the 14 elected in 2002 to make it easier to get a quorum for a meeting. The concensus of the membership was that the Board should address that by a change in the By-Laws to determine a quorum. On a motion by Brother Olsen and a second by Brother Stoltz, the 14 current members of the board were re-elected. On a motion by Brother Ratia and a second by Brother Kulp, Scott Warren '86, was also elected to the Board of Directors.

Brother Malcomb briefed the membership on a gathering he helped organize in August in Southern California for EB members. The turnout was mostly from the 1980's. He also urged members to go to the Eddie Lynch Pavilion near the tent to view the stone in the sidewalk which was placed this past year in honor of Brother Ed Stuckenhoff, the first "Wilbur". He also urged the membership to approve a $5,000 donation to the UofA Foundation as part of its Alumni Plaza effort to commemorate the "Cork Tree" near Old Main. Brother Malcomb explained the signifigance of the tree to ATW's. On a motion by Brother Kulp and a second by Brother Pegler, the membership approved the donation.

There being no further business, a motion to adjourn was made by Brother Kulp with a second by Brother Pegler. The meeting adjourned at 11:30 a.m.

 

Submitted November 9, 2003

ROBERT A. RICHARDSON/Secretary of the Board

These minutes were approved by the Board of Directors at a Regular Meeting on November 29, 2003