Minutes of the Texas Water Resources Finance Authority February 19, 2003

Chairman E.G. Rod Pittman called to order the meeting of the Texas Water Resources Finance Authority at 9:10 a.m. in Room 118 of the Stephen F. Austin Building, Austin, Texas. The following Board members were present, constituting a quorum:

E.G. Rod Pittman, Chairman Bill Meadows, Vice Chairman D.V. Guerra, Jr., Secretary/Treasurer Jack Hunt, Member Thomas Weir Labatt III, Member

Member Wales H. Madden, Jr. was absent due to a family illness.

Persons attending were among those present at the Texas Water Development Board meeting of the same date.

The Authority then considered items on the formal agenda in the following order.

1. CONSIDER APPROVAL OF THE Minutes of the AUGUST 21, 2002 MEETING.

Mr. Guerra moved to approve the minutes as submitted; Mr. Meadows seconded the motion; it passed unanimously 5-0.

2. CONSIDER: (A) ELECTING OFFICERS TO SERVE UNTIL THE FEBRUARY 2005 MEETING; AND (B) APPROVING A RESOLUTION APPOINTING THE EXECUTIVE ADMINISTRATOR AND THE DEVELOPMENT FUND MANAGER, EACH AS ASSISTANT SECRETARY OF THE AUTHORITY.

Chairman Pittman recommended and Mr. Hunt moved to elect D.V. Guerra, Jr. as Chairman, Bill Meadows as Vice Chairman, and Weir Labatt as Secretary/Treasurer. Mr. Labatt seconded the motion; it passed unanimously 5-0.

General Counsel Suzanne Schwartz recommended that the Board name the executive administrator and development fund manager as assistant secretaries to update designations made in a bond resolution dated April 8, 1999. Mr. Meadows moved to approve the recommendation; Mr. Hunt seconded the motion; it passed unanimously 5-0.

The meeting adjourned at 9:15 a.m. APPROVED and ordered of record this the 21st day of May, 2003.

TEXAS WATER RESOURCES Finance Authority

_______________________________________ D.V. Guerra, Jr., Chairman

ATTEST:

____________________________________ Thomas Weir Labatt III, Secretary/Treasurer