WHEREAS, the New Mexico Educational Assistance Foundation (the “Foundation”) is required by Section 21-21A-6(E) NMSA 1978, the Educational Assistance Act, to adopt bylaws governing board meetings consistent with Sections 10-15-1 to 10-15-4 NMSA 1978, the Open Meetings Act; and

WHEREAS, the Foundation has adopted the required bylaws; and

WHEREAS, Section 10-15-1(D) of the Open Meetings Act requires that meetings of the Board of Directors shall be held only after reasonable notice to the public, and further, that the Board shall determine at least annually in a public meeting what notice for a public meeting is reasonable when applied to that body;

NOW, THEREFORE, BE IT RESOLVED, by the Board of Directors of the New Mexico Educational Assistance Foundation, as follows:

Section 1. Publication of Notice of Meetings. Except as provided in Section 2 below, the Secretary of the Foundation, or the Secretary’s designee, shall cause a notice of all regular public meetings of the Board of Directors to be published one time in a newspaper of general circulation in New Mexico not less than ten (10) days prior to the date of each such scheduled meeting. The notice shall specify the time, place and date of the meeting, together with a proposed agenda containing a general description of the matters to be discussed at the meeting and information on how the public may obtain a copy of such agenda. Except in the case of an emergency, or emergency meeting, the agenda shall be available to the public at least twenty-four (24) hours before the meeting. The notice shall also state whether the Board of Directors will be meeting in closed session. The notice shall also be provided to broadcast stations licensed by the Federal Communications Commission (“FCC”) and newspapers of general circulation that have provided a written request for such notice. In addition, the same notice shall be posted conspicuously in the Foundation offices as soon as the date of the meeting has been set, except that such posting need not be earlier than thirty (30) days prior to the scheduled meeting date. In addition to the information specified above, all notices shall include the following language: If you are an individual with a disability who is in need of any form of auxiliary aid, service or special assistance, please contact the Foundation at 761-2012.

Section 2. Notice of Special or Emergency Meetings. If, in the opinion of the Chairman of the Board of Directors of the Foundation, a special meeting or emergency meeting, as defined in the Bylaws, is required, the Secretary or the Secretary’s designee shall cause notice to be given as follows: A. Special Meetings: 1. Notice shall be published and posted in the manner specified in the foregoing Section 1, except that a single publication on the earliest date practicable prior to the scheduled meeting shall be sufficient; or 2. Notice shall be posted as specified in the foregoing Section 1, and the same notice shall be broadcast on at least two separate occasions by two different FCC licensed radio or television stations in Albuquerque, New Mexico at the earliest times practicable prior to the scheduled meeting. B. Emergency Meetings: 1. Notice shall be posted in the manner specified in the foregoing Section 1, and if possible given the exigencies of the emergency necessitating the meeting, shall be published in the manner specified in Section 1, except that a single publication on the earliest date practicable prior to the meeting shall be sufficient; or 2. Notice shall be posted in the manner specified in the foregoing Section 1, and if possible given the exigencies of the emergency necessitating the meeting, shall be broadcast on at least one occasion by two different FCC licensed radio or television stations in Albuquerque, New Mexico at the earliest time practicable prior to the scheduled meeting.

Section 3. Closed Meetings. The Board may close a meeting to the public only if the subject matter of such discussion or action is exempted from the open meeting requirement set forth in Section 10-15-1(H) of the Open Meetings Act and the public notice of the meeting informed the public that the Board of Directors would be meeting in a closed session in the manner consistent with the Open Meetings Act. A. If any meeting is closed during an open meeting, such closure shall be approved by a majority vote of a quorum of the Board taken during the open meeting. The authority for the closure and the subjects to be discussed shall be stated in the motion for closure and the vote on closure of each individual member shall be recorded in the minutes in accordance with the Open Meetings Act. Only those subjects specified in the motion may be discussed in a closed meeting; and B. If the decision to hold a closed meeting is made when the Board of Directors is not in an open meeting, the closed meeting shall not be held until public notice, appropriate under the circumstances and stating the specific provision of law authorizing the closed meeting and the subject matter to be discussed, is given to the members and to the general public; and C. Except as provided in Section 10-15-1(D) and Section 10-15-1(H) NMSA 1978, any action taken as a result of discussions in a closed meeting shall be memorialized by vote of the Board in an open public meeting. Section 4. Continuation of Resolution. Subject to Section 10-15-1(D) of the Open Meetings Act, this Resolution shall continue in full force and effect until amended or until the adoption of another superseding Open Meetings Act Resolution by the Board of Directors in a public meeting. The foregoing Resolution of the New Mexico Educational Assistance Foundation was adopted and approved by the Board of Directors of the Foundation on January 17, 2007.

NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION

New Mexico Student Loan Guarantee Corporation
OPEN MEETINGS ACT RESOLUTION 2006-2007

WHEREAS, the New Mexico Student Loan Guarantee Corporation (the “Corporation”) is required by Section 21-21A-4(F) NMSA 1978, the Educational Assistance Act, to adopt bylaws governing board meetings consistent with Sections 10-15-1 to 10-15-4 NMSA 1978, the Open Meetings Act; and

WHEREAS, the Corporation has adopted the required bylaws; and

WHEREAS, Section 10-15-1(D) of the Open Meetings Act requires that meetings of the Board of Directors shall be held only after reasonable notice to the public, and further, that the Board shall determine at least annually in a public meeting what notice for a public meeting is reasonable when applied to that body;

NOW, THEREFORE, BE IT RESOLVED, by the Board of Directors of the New Mexico Student Loan Guarantee Corporation, as follows:

Section 1. Publication of Notice of Meetings. Except as provided in Section 2 below, the Secretary of the Corporation, or the Secretary’s designee, shall cause a notice of all regular public meetings of the Board of Directors to be published one time in a newspaper of general circulation in New Mexico not less than ten (10) days prior to the date of each such scheduled meeting. The notice shall specify the time, place and date of the meeting, together with a proposed agenda containing a general description of the matters to be discussed at the meeting and information on how the public may obtain a copy of such agenda. Except in the case of an emergency, or emergency meeting, the agenda shall be available to the public at least twenty-four (24) hours before the meeting. The notice shall also state whether the Board of Directors will be meeting in closed session. The notice shall also be provided to broadcast stations licensed by the Federal Communications Commission (“FCC”) and newspapers of general circulation which have provided a written request for such notice. In addition, the same notice shall be posted conspicuously in the Corporation offices as soon as the date of the meeting has been set, except that such posting need not be earlier than thirty (30) days prior to the scheduled meeting date. In addition to the information specified above, all notices shall include the following language: If you are an individual with a disability who is in need of any form of auxiliary aid, service or special assistance, please contact the Corporation at 761-2012.

Section 2. Notice of Special or Emergency Meetings. If, in the opinion of the Chairman of the Board of Directors of the Corporation, a special meeting or emergency meeting, as defined in the Bylaws, is required, the Secretary or the Secretary’s designee shall cause notice to be given as follows: A. Special Meetings: 1. Notice shall be published and posted in the manner specified in the foregoing Section 1, except that a single publication on the earliest date practicable prior to the scheduled meeting shall be sufficient; or 2. Notice shall be posted as specified in the foregoing Section 1, and the same notice shall be broadcast on at least two separate occasions by two different FCC licensed radio or television stations in Albuquerque, New Mexico at the earliest times practicable prior to the scheduled meeting. B. Emergency Meetings: 1. Notice shall be posted in the manner specified in the foregoing Section 1, and if possible given the exigencies of the emergency necessitating the meeting, shall be published in the manner specified in Section 1, except that a single publication on the earliest date practicable prior to the meeting shall be sufficient; or 2. Notice shall be posted in the manner specified in the foregoing Section 1, and if possible given the exigencies of the emergency necessitating the meeting, shall be broadcast on at least one occasion by two different FCC licensed radio or television stations in Albuquerque, New Mexico at the earliest time practicable prior to the scheduled meeting.

Section 3. Closed Meetings. The Board may close a meeting to the public only if the subject matter of such discussion or action is exempted from the open meeting requirement set forth in Section 10-15-1(H) of the Open Meetings Act and the public notice of the meeting informed the public that the Board of Directors would be meeting in a closed session in the manner consistent with the Open Meetings Act. A. If any meeting is closed during an open meeting, such closure shall be approved by a majority vote of a quorum of the Board taken during the open meeting. The authority for the closure and the subjects to be discussed shall be stated in the motion for closure and the vote on closure of each individual member shall be recorded in the minutes in accordance with the Open Meetings Act. Only those subjects specified in the motion may be discussed in a closed meeting; and B. If the decision to hold a closed meeting is made when the Board of Directors is not in an open meeting, the closed meeting shall not be held until public notice, appropriate under the circumstances and stating the specific provision of law authorizing the closed meeting and the subject matter to be discussed, is given to the members and to the general public; and C. Except as provided in Section 10-15-1(D) and Section 10-15-1(H) NMSA 1978, any action taken as a result of discussions in a closed meeting shall be memorialized by vote of the Board in an open public meeting. Section 4. Continuation of Resolution. Subject to Section 10-15-10 of the Open Meetings Act, this Resolution shall continue in full force and effect until amended or until the adoption of another superceding Open Meetings Act Resolution by the Board of Directors in a public meeting. The foregoing Resolution of the New Mexico Student Loan Guarantee Corporation was adopted and approved by the Board of Directors of the Corporation on January 17, 2007.

NEW MEXICO STUDENT LOAN GUARANTEE CORPORATION