DOWNTOWN STUDENT FACILITY TRUST                               16 September 2003

      MINUTES OF THE TENTH MEETING OF DOWNTOWN STUDENT TRUST held on 
      16 September 2003 at 5pm at Peter Robinson College, at a picnic
      table just outside Squash Court Hall, Trent U, Peterborough, Ontario.

P R E S E N T: Marisa Barnhart. Dwayne Collins, Catherine Dickinson, 
               Chris Mather, John K Muir & Fraser Smith.

Also Present: no-one

Notice of this Meeting having been made to all the Trustees, and quorum of
the Trustees being present in person, the Meeting was declared duly
constituted and called to order at 5:00 p.m., with Catherine Dickinson
acting as Chair and John Muir acting as Secretary.

The Chair made some opening remarks and discussion followed.

It was reported that the Trust had received it's first instalment of
levy/membership fees from TrentU and an information page with 
the first draw of the levy.  This is wonderful. Unfortunately there is a 
miscalculation on the page based on the student numbers indicated. 

from the information sheet
Downtown Student Facility Trust - Student Levy of $22.00 per student
Calculation of Levy Cheque for September 2003 Instalment
Estimate of the number of full-time Peterborough students only: 4,935
  (Excludes nursing students, graduate students & f-t students studying abroad)

[Our calculation $22.00 per student x 4,935 = $108,570.00]

Estimate of the number of full-time Peterborough nursing students only:296
[Our calculation $11.00 per nursing student x 296 = $ 3,256.00]

[Total of our calculations: $111,826.00] 

"Estimated 2003AY revenue based preliminary student count estimates from 
above" from TrentU Finance Office information September 2003: $105,314.00 

Difference of the Sum above and TU Finance Office estimate: $6,512.00 

The trustees then made a step by step analysis of the redrafted offer of purchase.

UPON A MOTION duly made seconded and carried the offer of purchase is to be 
resubmitted according to the terms discussed.

Discussion followed regarding the need for someone to organise the work of the
Trust pursuant to establishing the corporation to be incorporated and the
property purchase. It was decided to approach Derrick McIntosh.

UPON A MOTION duly made seconded and carried it was resolved to interview
Derrick McIntosh with a view to Mr. McIntosh working on behalf of the Trust,
and that the remuneration for this work would be set at a contracted amount 
of $500 per week.

There being no further business the meeting was adjourned.

  ____________________________       ______________________
   Catherine Dickinson, Chair         JK Muir, Secretary