The Wildcat Scholarship Fund Board of Directors meeting
notes below reflect the operational changes being made due to the death of our
Chairman Jim Hess:
THE COLLEGE HIGH WILDCAT MEMORIAL SCHOLARSHIP
FUND
BOARD OF DIRECTORS MEETING
MARCH 3, 2022, 2:00 PM
This meeting was held due to the death of our Board Chairman, James Hess, and to
act upon his wishes for the future of the College High Wildcat Memorial
Scholarship Fund.
MEETING ATTENDEES
BOARD VICE-CHAIRMAN: MR. BART WILLIAMS
BOARD SECRETARY: MS. JUDY FRELING COUCH
BOARD TREASURER MR. GEORGE TARBOX
ABSENT FROM MEETING
BOARD CHAIRMAN: MR. JIMMY HESS
The meeting of the Board of Directors of the College High Wildcat Memorial
Scholarship Fund was called to order at 2:02 PM on March 3, 2022, by
Vice-Chairman, Mr. Bart Williams and a quorum declared by Ms. Couch.
I. APPROVAL OF AGENDA
The agenda, having previously been distributed and studied was unanimously
approved.
II. APPROVAL OF PREVIOUS MINUTES
Minutes of the previous meeting had been reviewed and approved.
III CONSIDERATION OF OLD BUSINESS
Board Secretary reported there was no old business for the Board to Consider.
IV. CONSIDERATION OF NEW BUSINESS
Mr. Williams stating that there were multiple New Business items on the agenda
and requested that each item be brought forth “ON MOTION”, discussed and voted
upon.
ON MOTION: by Mr. Bart Williams
The Board acknowledge the death of its Board Chairman, Mr. Jimmy A. Hess.
(Second by Ms. Couch, Motion Approved)
ON MOTION: by Mr. Tarbox
That Vice-Chairman, Mr. Williams be elected to Chairman of the Board, with full
and complete authority, signature and otherwise, associated with that position.
(Second by Ms. Couch, Motion Approved, with Mr. Tarbox voting yes, Ms. Couch
voting yes, Mr. Williams did not vote.)
ON MOTION: by Mr. Tarbox
That Roger Couch be elected to the position of Vice-Chairman, the now open
position on the Board of Directors and that he be authorized complete expense
and signature authority associated with the duties of Vice-Chairman. (Second by
Mr. Williams, Motion Approved)
ON MOTION: BY Mr. Williams
That the records now reflect that Mr. Bart Williams is Board Chairman, Mr. Roger
Couch is Board Vice-Chairman, Ms. Judy Couch is the Board Secretary and Mr.
George Tarbox is the Board Treasurer. Each with full and complete expense and
signature authority associated with their respective positions on this Board of
Directors (Second by Ms. Couch, Motion Approved Unanimously.)
ON MOTION: by Mr. Williams
The Board of Directors as affirmed above understands and desires to comply with
previous Board Chairman Mr. James A. Hess’s last wishes concerning the College
High Wildcat Memorial Scholarship Program. Specifically, that Full and Absolute
Control, including ALL funds (cash, stocks, bonds) held by various investment
firms in the name of the College High Wildcat Memorial Scholarship Fund and the
College High School Alumni Association, which together make up the College High
Wildcat Memorial Scholarship Program be entirely transferred to The Lowe Family
Young Scholars Program, Inc. (Second by Mr. Tarbox, Motion Approved
Unanimously.)
ON MOTION: by Mr. Tarbox
That Mr. Williams, as Board Chairman, sign the “Agreement for the Transfer of
Funds” that was negotiated, by both parties, agreed to by both parties and
signed by The Lowe Family Young Scholars Program, Inc., Chairman on February 24,
2022, and that one fully executed copy of said Agreement for the Transfer of
Funds be made a part of this Board of Directors meeting minutes. (Second by Mr.
Williams, Motion Approved Unanimously.)
ON MOTION: by Ms. Couch
George Tarbox as Board Treasurer is hereby given full authority and is hereby
authorized, on behalf of this Board of Directors, to be the point of contact,
and is hereby authorized to buy, sell, trade, transfer and close-out all
Investment Accounts with Janus Henderson and Vanguard, in the name of College
High Wildcat Memorial Scholarship Fund, with Morgan Stanley in the name of
College High School Alumni Association, and with Arvest Bank the (Savings)
Account in the name of College High School Alumni Association DBA College High
Wildcat Memorial Scholarship Fund.
That Mr. Tarbox is hereby authorized and instructed to pay all expenses incurred
while carrying out the provisions of the “Transfer of Funds” Agreement” between
The Lowe Family Young Scholars Program, Inc., and the College High Wildcat
Memorial Scholarship Program. Said payment of expenses, are to be paid out of
the Arvest Bank (Savings) Account, entitled, College High School Alumni
Association DBA College High Wildcat Memorial Scholarship Fund
Upon completion of the above Mr. Tarbox is to leave no more than $3,000.00 in
the Arvest Bank (Checking) Account, in the name of College High Wildcat 2000.
(Second by Mr. Williams)
Discussion on the Motion
Mr. Tarbox: “To be clear, I’m to close out all Investment Accounts and the
Arvest Bank Savings Account, leaving $3,000.00 in the “Wildcat 2000” Arvest
Checking Account, to cover future expenses like the Wildcat website, etc.? All
monies are to be transferred to whatever Lowes’s account they wish it sent to?”
Ms. Couch: “That is correct, leaving a good audit trail. Should questions be
asked by others, later on down the road.”
Mr. Tarbox: “Understand, thank you.”
(Motion Approved Unanimously.)
ON MOTION: by Ms. Couch
Upon completion of the transfer of all money to Lowes, Board Treasurer, Mr.
Tarbox, is to report back to this Board with full details documented of how much
was transferred from each of the investment firms to The Lowe Family Young
Scholars Program, Inc., and that all Wildcat Investment Accounts have been
closed.
(Second by Mr. Tarbox, Motion Approved Unanimously.)
ON MOTION: by Mr. Tarbox
That the Board Secretary publish on the College High Wildcat website and the
College High Connections Facebook page these actions and why they are being
taken. In addition, Board Secretary shall obtain and publish on each of the
above social pages a brief synopsis about The Lowe Family Young Scholars
Program, Inc. and how it aligns with, and will add value to what the Wildcat
Scholarship Program was doing. To learn
more about what The Lowe Family Young Scholars Program does for our local
students please follow this link:
http://www.loweyoungscholar.org/
(Second by Mr. Williams, Motion Approved Unanimously.)
The meeting was adjourned at 3:26 PM by: Mr. Bart Williams