flUSTIN HOUSING Board of Directors: Kirk Watson, President Jackie Goodman, Vice President Raul Alvarez, Director FINflNCE CORPORnTION B^G°XSreS Will Wynn, Director Daryl Slusher, Director Jesus Garza, General Manager Betty Dunkerley, Secretary Sedora Jefferson, General Counsel BOARD OF DIRECTORS' SPECIAL CALLED MEETING AUSTIN HOUSING FINANCE CORPORATION MINUTES THURSDAY, NOVEMBER 8,2001 The Board of Directors of the Austin Housing Finance Corporation (AHFC) was convened at 3:33 p.m. on Thursday, November 8, 2001 in the Hancock Building Board Room at the Lower Colorado River Authority, 3700 Lake Austin Blvd. The following agenda were the AHFC items considered by the Austin Housing Finance Corporation's Board of Directors. President Watson called the meeting to order at 3:33 p.m. CONSENT AGENDA The following items were acted on by one motion. No separate discussion or action occurred on any of the items. The consent items were approved on Vice President Goodman's motion, Board Member Wynn's second by a 4-0 vote. Board Members Griffith, Slusher and Thomas were off the dais. AHFC-1. Approval of minutes for Austin Housing Finance Corporation Special Called Meeting of November 1,2001. The minutes for the Austin Housing Finance Corporation Special Called Meeting of November 1,2001 were approved. AHFC-2. Approve a resolution to amend the trust indenture of the Austin Housing Finance Corporation Multi-Family Housing Revenue Bonds Series 2001 (Arbors at Creekside, now known as Primrose at Shadow Creek) by lowering the permanent interest rate on the bonds and the construction period interest rate and authorizing other actions with respect to the amendment to the trust indenture Resolution No. 2001-1108-02 was approved. The motion to adjourn the meeting at 3:34 p.m. was approved on Board Member Griffith's motion, Board Member Alvarez' second by a 5-0 vote. Board Members Slusher and Thomas were off the dais. CORPORATE OFFICES. 505 Barton Springs Rd. Suite 600. Austin. TX 78704 (512t 974-3103 OFFICE OF CORPORATE COUNSEL, 114 West 7th Street, Austin, TX. 78701(512) 974-2268