WHEREAS, the residence and dining hall auxiliary is legally obliged to budget for all operating expenses and debt service obligations by means of fees which are collected from students who use the residence and dining hall facilities, and

WHEREAS, the residence and dining hall auxiliary has identified a need for substantial reinvestment to correct the deferred maintenance backlog in its aging facilities, and

WHEREAS, the Board of Trustees has adopted a long range plan as a guideline for renovating the facilities, and

WHEREAS, the executive officers of the University have reviewed the financial premises and the Fiscal Year 2001-2002 budget and recommend its adoption.

NOW, THEREFORE, BE IT RESOLVED that the Board of Trustees does hereby authorize an increase in Residence Hall and Dining Hall rates by 6% (for all non-air conditioned rooms) and 8 1/2% for all air conditioned rooms, and apartment rates by 2% for Fiscal Year 2001-2002, and adopts the Fiscal Year 2001-2002 Residence and Dining Hall Fund Budget as presented in Section G of the Current Funds Budget Document.

It is found and determined that all formal actions of this Board of Trustees concerning and in relation to the adoption of this resolution were adopted in open meeting of this Board of Trustees' and that all deliberations of this Board of Trustees and any of its committees that resulted in such formal action, were in meetings open to the public in compliance with the law, including Section 121.22 of the Ohio Revised Code.

This resolution shall take effect immediately upon its adoption.