| 11/12/2020 | 1 |
TRAVAUX INC. BOARD OF DIRECTORS
| AMENDED
Minutes note: Tom Gartner, Attorney at Michael Best and Friedrich, who worked on the changes explained that most were technical in nature and that the initial impetus was a mention from HUD about clarifying that any HACM assets transferred to Travaux would revert back to HACM should anything happen to Travaux. Fernando Aniban added that there hasn’t been any transfer of assets to date, and both noted that since HACM is the sole member, any assets would revert in any case, but the changes will make that more clear. Fernando explained that there may be transfers from HACM to Travaux in the future, possibly Section 18 Dispositions, and that any third party-acquired assets would also revert to HACM in the event of a Travaux dissolution. Other changes were made to match the language of HACM’s other instrumentality, Crucible, Inc., so the language for both will be consistent.
Director Hurtado did a proof review of the documents and made some clerical, non-substantial suggestions which Mr. Gartner incorporated into new bylaws that were added and sent to the Directors earlier today.
Director Hurtado offered a friendly amendment incorporating those proofing edits into the Bylaws, and changing the last paragraph of the resolution to read “RESOLVED, subject to the Housing Authority’s approval as sole Member of Travaux, the Board of Directors of Travaux hereby approves the updated Amended and Restated Bylaws of Travaux, Inc. in the form attached to this Resolution.”
Director McCarthy accepted the friendly amendment and moved for the amended language to be brought to a vote. Director Hurtado seconded. | Pass | 10:0 |
Action details
|
Meeting details
|
Not available
|
| 11/12/2020 | 1 |
TRAVAUX INC. BOARD OF DIRECTORS
| ADOPTED
Minutes note: As amended.
| Pass | 10:0 |
Action details
|
Meeting details
|
Not available
|