Minutes of a Special Meeting of the Board
June 12, 2002

Attending:
Bob Richardson, President and Secretary
David Tick, Vice President
Dwight Eller, Treasurer
Bill Malcomb, Member (via telephone)
Bill McMahon, Member

President Richardson called the meeting to order at 5:36 p.m., noting a quorum of the Board was present. The meeting was held at the offices of David Tick, State Farm Insurance at 3323 North Campbell in Tucson, Arizona.

There was a report to the Board from the committee appointed at the April 5, 2002, Board meeting concerning the future of the Epsilon Beta chapter.

The committee presented a draft to the Board with its' thoughts of a timetable for the return of the chapter and other areas.

The Board by consensus agreed to a proposal by the committee that we reach out for input on the plan to a wide variety of people. President Richardson agreed to set up a meeting later in June to begin that process.

Any consideration of the draft by the Board was deferred until the September meeting.

The Board considered a request to invest some of its funds in the company AzRoadConstruction.com. President Richardson recused himself from the debate and Vice President Tick took over the meeting.

Following discussion, Member McMahon moved that the Board authorize a $10,000 investment in AzRoadConstruction.com. The investment will be repaid (including interest) to the Corporation in installments of $5,000 each of the next three years. The motion also authorized Treasurer Eller to sign an agreement outlining the investment that will be reviewed by our attorney. Treasurer Eller seconded the motion. It passed unanimously.

Being no further business, Vice President Tick made a motion to adjourn. Treasurer Eller seconded it. The motion passed unanimously.

The meeting adjourned at 6:06 p.m.

Signed and Attested:

Robert A. Richardson
Secretary

Date: June 17, 2002