MINUTES OF A SPECIAL MEETING 
of the 
MICHIGAN STATE UNIVERSITY 
BOARD OF TRUSTEES 
October 20, 198 4 

mtim 

In President Mackey's absence, Trustee Sawyer called the meeting to order in the Heritage 
Room of the Kellogg Center at 10:13 a.m. on Saturday, October 20. 

Present:  Trustees Fletcher, Lick, Martin, Reed, Sawyer and Wilson; Provost Winder, 
Vice Presidents Cantlon, Dickinson and Stewart; Acting Vice President and 
Secretary Wilkinson, Assistant Vice President Terry; Faculty Liaison Group, 
and Student Liaison Group.  Also present:  William Broucek and Vinee Carillot 
of Citizens Trust Co. 

Absent:  Trustees Dade and Owen. 

1.  Trustee Sawyer announced that this meeting was a special meeting of the Board of 

Trustees for the sole.purpose of considering financing arrangements for construction 
of the Plant Research Laboratory Addition and the Nuclear Magnetic Resonance facility. 

2.  Trustee Sawyer called upon Acting Vice President Wilkinson and Assistant Vice 

President Terry to present a brief summary of the recommended financial arrangements. 
Following this presentation,  the  Board of Trustees extensively reviewed the following 
related financial documents (copies on file in the Secretaryfs Office): 

a.  Bond Authorizing Resolution. 
b.  Preliminary Official Statement. 
c.  Bond Purchase and Reimbursement Agreement. 
d.  Trust Agreement. 
e.  Remarketing Agreement. 
f.  Purchase Contract Summary Document. 

Approved 
Financing 
Arrangements 
for Construction 
of the Plant 
Research 
Laboratory 
Addition and the 
Nuclear Magnetic 
Resonance 
Facility 

Moved by Trustee Lick, seconded by Trustee Wilson, that the Board of Trustees approve the 
Bond Authorizing Resolution. 

3.  Prior to the vote, Secretary Wilkinson called the roll to determine whether members of 

the Board or officers or employees of the University who solicited said financing or 
took part in the approval of, negotiation for or the representation of either the 
Board, the University, Citizens Trust, Comerica  Bank-Detroit or John Nuveen & Co. 
Incorporated in the transaction fully disclosed that he or she was a director or 
employee including president, vice president, cashier or other officer) or stockholder 
owning more than 1% of any class of stock of Citizens Trust, Comerica Bank-Detroit or 
John Nuveen & Co. Incorporated, directly or indirectly; or that he or she had a direct 
or indirect interest in said financing. 

Prior to the meeting, President Mackey indicated that he had no financial interest in 
this transaction, and Trustee Owen disclosed that he is a partner in the law firm of 
Miller, Canfield, Paddock & Stone, counsel to the Bank, and that he has no present 
direct or indirect interest in the Bank nor did he in any way solicit the contract by 
or between the Board and the Bank. 

Trustees Lick, Martin, Sawyer, Reed and Wilson, Assistant Vice President Terry, and 
Acting Vice President Wilkinson indicated:  None; Trustee Fletcher disclosed that he 
holds 90 shares of Comerica Bank-Detroit and, although he had been advised by 
Mr. Byron Higgins, Associate Legal Counsel, that he could vote on this transaction, 
he would abstain from voting. 

The Bond Authorizing Resolution-was^apnroved by a vote of 5 to 0.  Trustee Fletcher abstained, 
(A copy of the Bond Authorizing Resolution is on file in the Secretary's Office.)