DATE, TIME, PLACE OF MEETING
The Calcasieu Parish School Board met in the Conference Room of the Calcasieu Parish School Board located at 1732 Kirkman Street, Lake Charles, Louisiana, on Tuesday, February 19, 2002, at 5:00 p.m. John M. Falgout, President, called the meeting to order. The prayer was led by Carla Duplechin; Jimmy Pitre led the Pledge of Allegiance.
ROLL CALL
The roll was called and the following members were present:
Joe A. Andrepont, Randall C. Armentor, Ricky Blackwell, Wilridge P. Doucet, Clara F. Duhon, Jay L. Duhon, Carla C. Duplechin, John M. Falgout, L. J. "Berk" Fontenot, James W. Karr, Sr., Sheral A. LaVergne, James W. Pitre, Gregory P. Robert, Philip Tarver and Elray T. Victorian.
MINUTES APPROVED
On motion by Mr. Duhon, seconded by Mr. Blackwell, and unanimously carried, the minutes of the regular meeting of January 15, 2002, were approved as presented.
Supplemental Agenda
By general consent the Supplemental Agenda was included as part of the regular agenda.
RECOGNIZE SCHOOL REPRESENTATIVES
Mr. Falgout recognized representatives present from the following schools:
LaGrange High School, Kennedy Elementary School, St. John Elementary School, Barbe Elementary School, F.K. White Middle School
It was noted that St. John Elementary School representatives will be recognized at the next Board meeting, March 5, 2002.
Agenda/Amend
By general consent items VIII A.-VIII I. will be presented after the presentation category.
PRESENTATIONS
Teacher of the Year Award
Mr. Falgout recognized Mr. Fred Hardy, Middle School Reading and Language Supervisor, who announced the recipients of the Teacher of the Year Award for the elementary, middle, and high school categories.
The elementary school division Teacher of the Year Award recipient is Kathleen Spanner Griffith. Mrs. Griffith is a 1975 graduate of Baylor University. She is a twenty-one year veteran teacher. Currently, she is a practicing speech pathologist for K-5 students at Prien Lake Elementary School. Mrs. Griffith was presented with a plaque and congratulated by the Board and Superintendent.
The middle school division Teacher of the Year Award recipient is George K. Book. Mr. Book is a 1972 graduate of McNeese State University. He is a twenty-eight year veteran teacher. Currently, he teaches history and geography to eighth graders at S. P. Arnett Middle School. He has presented staff development programs across the state, nation, China, Canada, and Mexico. Mr. Book was presented with a plaque and was congratulated by the Board and Superintendent.
The high school division Teacher of the Year Award recipient is Marie B. Reed. Mrs. Reed is a 1980 magna cum laude graduate of McNeese State University. She is a twenty-two year veteran teacher. Currently, she teaches chemistry to eleventh and twelfth graders at LaGrange High School. She is one of only two U.S. educators qualified to sponsor teacher/student groups in the Biodiversity Assessment Institute at El Eden Ecological Reserve, Quintana Roo, Mexico. Mrs. Reed received a plaque and was congratulated by the Board and Superintendent.
Mrs. Griffith, Mr. Book, and Mrs. Reed thanked their colleagues, principals, families, and God for their success. They extended their appreciation to the Board for honoring them at the meeting.
LAE Administrator of the Year Award
Mr. Falgout recognized Judy Ellis, Vice-President of the Calcasieu Association of Educators. Mrs Ellis made a presentation to Sheryl Abshire, the recipient of the LAE Administrator of the Year Award. Sheryl Abshire began her career in education 28 years ago and has worked as an elementary teacher, school librarian, school principal and is presently the Director of Technology for the CPSB. She is a nationally recognized speaker and consultant in the areas of grant writing and technology infused professional development, and serves on many state and national advisory committees for everything from education consortiums--to computer companies--to departments of education. She is involved in civic organizations; she has received numerous awards, and has been recognized for her accomplishments on a local, regional, and national level.
Dale Hawley Award and State Student Council President Award
Mr. Falgout recognized Mrs. Sandy Hill, sponsor of the Alfred M. Barbe High School Executive Student Council. Mrs. Hill announced that Christa Courville is the recipient of the Dale Hawley Award. Christa is one of five students who received this prestigious award in recognition of her outstanding leadership in the state. Christa currently serves as President of the Executive Student Council at Barbe High School and also has represented our state on a regional and national level. Christa was presented a plaque and a certificate on behalf of the Board and Barbe High School. The Board President and Superintendent congratulated Christa for an outstanding achievement.
COMMITTEE REPORTS
Administration and Personnel
Mr. Fontenot, Chair, reported the Administration and Personnel Committee met on Tuesday, January 29, 2002, at 4:45; a quorum was present. Mr. Fontenot reported the purpose of the meeting was to review and discuss the RI reapportionment plan. Mr. Cedric Floyd, President of the Data Center in Kenner, Louisiana, was present to submit for review and possible consideration a plan that was devised to include four minority districts. Mr. Fontenot reported that Mr. Floyd stated that the definition of a deviation of the plan is: subtract the smallest district from the largest district and divide by the ideal district size, not plus or minus 5%. After a lengthy discussion, Mr. Doucet made a motion to accept plan RI, Mr. Armentor seconded the motion. A substitute motion was made and seconded to allow Mr. Floyd an additional two weeks to alter his plan and present it to the committee on February 13, 2002. Mr. Fontenot, moved on behalf of the committee to grant Mr. Floyd an additional two weeks to allow him to alter his plan and present it to the committee on February 13, 2002. The motion carried. An amendment to the amended motion was made and seconded to provide Mr. Floyd direction as to placing all 15 board members in separate precincts using consideration of their preferred district. The motion failed due to lack of majority vote. Mr. Fontenot reported that clarification of the substitute motion that was on the table was addressed and stated that Mr. Floyd provide Board members with his plan by February 6th for Mr. Savoy to have maps prepared by the 9th, and delivered to the board members in preparation for the committee meeting on February 13th. It was determined that other plans would also be accepted. The motion carried. Mr. Fontenot, on behalf of the committee recommended that that Mr. Floyd provide Board members with his plan by February 6th for Mr. Savoy to have maps prepared by the 9th, and delivered to the board members in preparation for the committee meeting on February 13th. It was determined that other plans would also be accepted. The motion carried.
Administration and Personnel Committee
Mr. Fontenot, Chair, reported the Administration and Personnel Committee met on Tuesday, February 13, 2002, at 4:45; a quorum was present. Mr. Fontenot reported the meeting was held to finalize the reapportionment plan. Mr. Fontenot reported that Mr. Savoy gave an overview of the actions taken by the board at previous meetings relating to redistricting. He noted that Mr. Savoy referred to three plans that were on exhibit: 1). RI, which reflects three minority districts, 2). FI, which reflects four minority districts, and 3). F2, which reflects four minority districts. It was noted that Mr. Floyd discussed the changes that were made to plan F1 and plan F2. Mr. Doucet presented a fourth plan for consideration and distributed material relating to this plan. Mr. Fontenot reported that Mr. Spruel stated that the plan submitted to the Justice Department should be acceptable if guidelines are followed. Mr. Spruel further stated that the primary basis for acceptance is that the plan must comply with the one man, one vote rule and should reflect fair minority representation. There was a motion made and seconded to accept the RI plan. Mr. Fontenot reported that Mr. Milton Bellard, President of the NAACP, stated that he would oppose any plan that did not represent four minority districts. He stated that four minority districts could be established due to the population shifts within the city. Mr. Floyd stated that his plans show four minority districts and should be considered. He indicated that the Justice Department standards are based on the 1990 census as a base line along with other factors. Mr. Spruel stated that the RI plan could possibly cause concerns due to the minority compactness within three districts. After a lengthy discussion, a vote was taken to approve the RI plan. The motion carried.
Mr. Fontenot moved on behalf of the committee to approve the RI plan.
Mr. Doucet made a substitute motion, seconded by Mr. Victorian to adopt and approve the “Plan # 5,” which was presented and discussed at the committee meeting. The plan would reflect the following changes:
Precinct From District To District
309E 2 3
311 3 7
313 7 14
361 14 2
There was lengthy discussion regarding the three reapportionment plans. The minority Board members emphasized the importance of approving a plan that reflects four minority districts. This would give the minority community the opportunity to have fair representation.
Several Board members expressed opposition to the Doucet Plan #5:
· The plan was submitted and not presented on a timely basis (the majority of the board members did not have the opportunity to review the plan prior to the board meeting).
· Restrictions were placed on the Floyd Plan and not Plan #5.
It was reported that several Plan #5 maps were available for the Board members to review.
The Chair called for a short recess at 6:00 p.m. to allow the Board members an opportunity to discuss and review Plan #5.
The Chair called for the open session to resume at 6:15 p.m.
The following issues were discussed:
· The adoption of one of the plans that would most likely be approved by the United States Justice Department.
· Not approve any plan, leaving the decision and redistricting to the Justice Department.
· Choose a plan that will benefit the Calcasieu Parish School System.
· Possibly adopt the police jury’s plan.
· The plan must meet criteria required by law.
· Represent constituents and do the best job for the system.
Legal counsel advised the Board that a plan should be approved and submitted to the United States Justice Department. This will indicate that the Board has made a good faith effort to establish a reasonable plan.
Mr. Falgout recognized Mary Morris who requested to speak to the Board as a concerned citizen. Ms. Morris stated that the Board should focus on the mission of the system and that teamwork and placing the children of our parish should be emphasized.
Next, Mr. Falgout recognized Mr. Milton Bellard, President of the local chapter of the NAACP. Mr. Bellard stated that the Board should have begun the process of developing a feasible plan at an earlier date. He added that the minority community was requesting fair representation and that the Board members should not allow their individual preference to interfere with the decision process of approving a plan.
Mr. Duhon made a second substitute motion, seconded by Mrs. Duplechin to approve the plan submitted by Cedric Floyd, “Floyd One.”
It was noted that the plan submitted by Mr. Floyd did not meet criteria. Several board members stated that the plan did include four minority districts, but reflected incorrect numbers. The numbers were obtained from the police jury.
Ms. LaVergne stated that she would definitely support a plan that included four minority districts.
The Chair called for a vote on the second substitute motion. The motion failed by the following vote:
Yeas: Randy Armentor
Carla Duplechin
Philip Tarver
Joe Andrepont
Ricky Blackwell
Jay Duhon
Nays: Sheral LaVergne
Gregory Robert
Jimmy Pitre
Wilridge Doucet
James Karr
Elray Victorian
Berk Fontenot
The Chair did not vote and Mrs. Duhon abstained.
The Chair called for a vote on the substitute motion. The motion carried by the following vote:
Yeas: Sheral LaVergne
Clara Duhon
Gregory Robert
John Falgout
Jimmy Pitre
Wilridge Doucet
James Karr
Elray Victorian
Berk Fontenot
Nays: Randy Armentor
Carla Duplechin
Philip Tarver
Joe Andrepont
Ricky Blackwell
Jay Duhon
R E S O L U T I O N
A RESOLUTION PROVIDING FOR REDISTRICTING OF THE CALCASIEU PARISH SCHOOL BOARD
BE IT RESOLVED by the Calcasieu Parish School Board that:
Section 1. The Calcasieu Parish School Board does, subject to the approval of the United States Department of Justice, maintain the membership of the Calcasieu Parish School Board at fifteen (15) members. The present terms of all current members of the Calcasieu Parish School Board shall not be reduced or otherwise affected by this resolution.
Section 2. From and after the effective date of this resolution, and subject to the approval of the United States Department of Justice, there are established School Board election districts numbered one (1) through fifteen (15), each of which shall be represented by one member of the Calcasieu Parish School Board. The precincts contained in each of the fifteen (15) election districts and the respective Board members are set forth in Exhibit A attached hereto and made a part of this resolution, as if set forth herein in full. The precinct boundaries, as they existed on the day of , 20 , and as shown on the attached Exhibit B, shall be and are hereby established as the boundaries for the precincts designated in the election districts set forth in Exhibit A referred to above.
Section 3. Members of the Calcasieu Parish School Board elected after the effective date of this resolution shall serve concurrent terms of four years as established by LSA-R.S. 17:52 and 17:71.2.
Section 4. This resolution and the redistricting provided for herein shall be effective at the end of the term of the incumbent board members as mandated by LSA- R.S. 33:1411B., subject to the approval of the United States Department of Justice. The Secretary of the Calcasieu Parish School Board is authorized and directed to publish this resolution in the official journal of the Board.
Section 5. A certified copy of this resolution, together with other showings required by Section 5 of the Voting Rights Act of 1965 and regulations pertaining thereto shall be submitted by the Office of the District Attorney in and for the Fourteenth Judicial District, Parish of Calcasieu, State of Louisiana, to the United States Attorney General, Department of Justice, for approval in compliance with the said Voting Rights Act. A copy of this resolution shall be submitted by certified mail to the Louisiana Secretary of State.
This Resolution having been submitted to a vote, the vote thereon was as follows:
YEAS: Randy Armentor
Sheral LaVergne
Clara Duhon
Gregory Robert
Carla Duplechin
Philip Tarver
John Falgout
Jimmy Pitre
Wilridge Doucet
James Karr
Jay Duhon
Joe Andrepont
Ricky Blackwell
Elray Victorian
L.J. “Berk” Fontenot
NAYS: None
NOT VOTING: None
PASSED, ADOPTED AND APPROVED at Lake Charles, Louisiana on the 19th day of February, 2002.
/s/Jude W. Theriot
JUDE W. THERIOT, SECRETARY
/s/John M. Falgout
JOHN M. FALGOUT, PRESIDENT
H:\Resltion.gen\RESOLUTION2‑14‑02.wpd
Employee Benefits
Mr. Jay Duhon, Chairman, reported that the committee met on Thursday, January 10, 2002 at 4:45; a quorum was present. The purpose of the meeting was to discuss the health insurance renewal issue. Mr. Duhon reported that the committee voted on a motion to present to the Board the recommendation that the health insurance package be available for proposals from various insurance entities. The motion carried.
Mr. Duhon reported that the committee held a subsequent meeting on Wednesday,
February 6, 2002, at 4:45; a quorum was present. The meeting was called to discuss the negotiations that were prepared since the previous committee meeting. Mr. Duhon stated that a plan was presented to the committee with a plan design change placing prescription drugs under the major medical plan, thus eliminating the drug card. The deductible amount would be $300.00 per year, per individual, 80% reimbursement thereafter to the amount of $1,500.00, then 100% paid after the out-of-pocket amount was satisfied. It was noted that in a family of more than three, the deductible would not exceed $900.00 per year. Mr. Duhon made a motion on behalf of the committee to renew the health care coverage with Trustmark Insurance Company, which would include the drug plan change and a 6.3% premium increase.
Mrs. Duhon left the meeting.
There was discussion concerning possible alternative plans. It was noted that the proposed plan with Trustmark was the best scenario. The other plans would create a considerable increase with fewer benefits.
Mr. Bruchhaus, chief financial officer, gave a financial summary of renewal activity for May 1, 2002.
It was noted that the new premium would be in effect May 31, 2002.
After further discussion, the Chair asked for a vote on the motion. The motion carried unanimously.
TAKE APPROPRIATE ACTION
Lake Charles, Louisiana
February 19, 2002
The Parish School Board of Calcasieu Parish, Louisiana, met in public session at 5:00 o'clock p.m. on Tuesday, February 19, 2002, at the regular meeting place of said Board in the Calcasieu Parish School Board Office, Lake Charles, Louisiana, pursuant to the provisions of written notice given to each and every member thereof and duly posted in the manner required by law.
John M. Falgout, President called the meeting to order and on roll call, the following members were present:
Joe A. Andrepont, Randy Armentor, Ricky Blackwell, Wilridge Doucet, Clara F. Duhon, J. L. “Jay” Duhon, Carla C. Duplechin, John M. Falgout, L. J. “Berk” Fontenot, James W. Karr, Sr., Sheral LaVergne, James W. Pitre, Greg Robert, Philip E. Tarver, and Elray T. Victorian
ABSENT: None
The President stated that one purpose of the meeting was the opening of sealed bids received for the purchase of $13,000,000 of General Obligation Public School Improvement Bonds of School District No. 31 of Calcasieu Parish, Louisiana, 2001 Series (the “Bonds”).
The President presented affidavits evidencing proper publication of the Notice of Sale of the Bonds, said affidavits indicating that the Notice of Sale had been published in the Southwest Daily News, a newspaper published in Calcasieu Parish, and of general circulation in School District No. 31 of Calcasieu Parish, Louisiana, on February 8, 2002 (such publication having been made at least seven (7) clear calendar days before the date scheduled for the receipt of bids), and also published in the Daily Journal of Commerce, a financial newspaper or journal containing a section devoted to municipal bond news published in the City of New Orleans, Louisiana on February 8, 2002 (which publication was made at least forty-eight (48) hours in advance of the date scheduled for the receipt of bids). The affidavits were approved and were ordered filed with the minutes of said meeting.
The President then presented the sealed bids for the purchase of the Bonds of School District No. 31 of Calcasieu Parish, Louisiana, which had been received, which bids were opened and found to be as follows:
EFFECTIVE
NAME OF BIDDER INTEREST RATE PREMIUM
1. SWS Securities, Inc. 4.803417% -0-
Dallas, Texas
2. Morgan Keegan & Company, Inc. 4.791037% -0-
New Orleans, Louisiana
3. Salomon Smith Barney Inc. 4.819774% -0-
Dallas, Texas
Upon verification, it was determined that the bid of Morgan Keegan & Co., Inc., of New Orleans, Louisiana, was the lowest and best bid submitted for the purchase of the Bonds, whereupon the following resolution was introduced and, pursuant to motion made by Ms. LaVergne and seconded by Mrs. Duhon, was adopted by the following vote:
YEAS: Mr. Andrepont, Mr. Armentor, Mr. Blackwell, Mr. Doucet, Mrs. Duhon, Mr. Duhon, Ms. Duplechin, Mr. Falgout, Mr. Fontenot, Mr. Karr, Ms. LaVergne, Mr. Pitre, Mr. Robert, Mr. Tarver and Mr. Victorian
NAYS: None
RESOLUTION
A RESOLUTION PROVIDING FOR THE ISSUANCE OF $13,000,000 GENERAL OBLIGATION PUBLIC SCHOOL IMPROVEMENT BONDS OF SCHOOL DISTRICT NO. 31 OF CALCASIEU PARISH, LOUISIANA, 2002 SERIES; CONFIRMING THE SALE THEREOF; AND PROVIDING FOR THE LEVY OF TAXES FOR THE PAYMENT OF PRINCIPAL THEREOF AND INTEREST THEREON.
WHEREAS, pursuant to a resolution adopted by the Calcasieu Parish School Board, governing authority of School District No. 31 of Calcasieu Parish, Louisiana (the “Issuer”) on October 19, 1999, and in conformity with notice duly published in compliance with law, there was held in School District No. 31 of Calcasieu Parish, Louisiana, on March 14, 2000, a special election at which there was submitted to the qualified electors of said district the following proposition:
BOND PROPOSITION
SUMMARY: AUTHORITY FOR SCHOOL DISTRICT NO. 31 OF CALCASIEU PARISH, LOUISIANA, TO ISSUE NOT EXCEEDING $38,000,000 OF UP TO 20-YEAR PUBLIC SCHOOL IMPROVEMENT BONDS FOR ACQUIRING AND/OR IMPROVING SCHOOL BUILDINGS AND OTHER SCHOOL RELATED FACILITIES WITHIN THE DISTRICT, SAID BONDS TO BE PAYABLE FROM AD VALOREM TAXES.
Shall School District No. 31 of Calcasieu Parish, Louisiana, incur debt and issue bonds in an amount not exceeding $38,000,000 for a period not to exceed twenty (20) years from the date thereof, with interest at a rate not exceeding twelve (12%) percent per annum, for the purpose of acquiring and/or improving lands for building sites and playgrounds, purchasing, erecting, enlarging and/or improving school buildings and other school related facilities within and for said School District, and acquiring the necessary equipment and furnishings therefor, title to which shall be in the public, which said bonds shall be retired with, paid from and secured by ad valorem taxes on all taxable property within the limits of School District No. 31 of Calcasieu Parish, Louisiana, sufficient in rate and amount to pay said bonds in principal and interest?
and
WHEREAS, pursuant to said resolution calling said special election, and the notice of said election, the Calcasieu Parish School Board as the governing authority (the “Governing Authority”) of School District No. 31 of Calcasieu Parish, Louisiana (the “Issuer”), did on March 21, 2000, meet in open session and canvass the returns of said election and did declare said election to have resulted in favor of said proposition; and
WHEREAS, on May 24, 2000, the Issuer issued $15,000,000 of its General Obligation Public School Improvement Bonds, Series 2000; and
WHEREAS, the Governing Authority now deems it in the public interest to authorize the issuance and delivery of $13,000,000 General Obligation Public School Improvement Bonds of School District No. 31 of Calcasieu Parish, Louisiana, 2002 Series;
WHEREAS, the Governing Authority deems it to be in the public interest that it accept the lowest and best bid received for the purchase of the Bonds reflected above, together with the good faith check which accompanies such bid;
WHEREAS, pursuant to Notice of Sale duly published, the Bonds have been sold to Morgan Keegan & Company, Inc., of New Orleans, Louisiana, at the price of not less than par and accrued interest to date of delivery, the bid of said purchaser being in full as follows:
We offer to purchase THIRTEEN MILLION AND NO/100 ($13,000,000) DOLLARS General Obligation Public School Improvement Bonds of School District No. 31 of Calcasieu Parish, Louisiana, 2002 Series, in the initial denominations of one Bond for each maturity, with transfers in multiples of $5,000.00, bearing interest payable semi-annually on March 1 and September 1 of each year, beginning March 1, 2002, maturing serially, WITH OPTION OF PRIOR PAYMENT, all in accordance with the Notice of Bond Sale and Official Statement, all the terms and conditions of which by reference are made a part hereof, and bearing interest at rates as follows, viz:
MATURITY PRINCIPAL INTEREST MATURITY PRINCIPAL INTEREST
DATE AMOUNT RATE PER DATE AMOUNT RATE PER
(March 1) ANNUM (March 1) ANNUM
2003 395,000 5.500% 2013 640,000 4.400%
2004 410,000 7.375% 2014 675,000 4.500%
2005 435,000 6.000% 2015 705,000 4.600%
2006 455,000 5.750% 2016 740,000 4.700%
2007 480,000 5.750% 2017 780,000 4.800%
2008 500,000 4.250% 2018 815,000 4.900%
2009 525,000 4.000% 2019 860,000 5.000%
2010 555,000 4.100% 2020 900,000 5.000%
2011 580,000 4.200% 2021 945,000 5.000%
2012 610,000 4.300% 2022 995,000 5.000%
We will pay the principal sum of THIRTEEN MILLION AND NO/100 ($13,000,000) DOLLARS, together with accrued interest from the date of the Bonds to the date of delivery, plus a premium in the amount of $ None .
For your information, we calculate the lowest effective interest rate to School District No. 31 to be 4.791037 %, said rate to be determined in accordance with the “True” or “Canadian” interest cost method of calculation by doubling the semiannual interest rate (compounded semiannually) necessary to discount the debt service payments from the payment dates to the date of the Bonds and to the price bid, excluding the accrued interest from the date of the Bonds to the date of their delivery.
Bonds bid for herein will be delivered and shall be paid for on or about March 27, 2002, at such place in Louisiana, and on such business day and at such hour, as the Issuer shall fix on five business days' notice to the successful bidder, or at such other place and time as may be agreed upon with the successful bidder, it being understood that School District No. 31 will furnish to us, free of charge, at the time of delivery of the Bonds, the qualified approving legal opinion of Joseph A. Delafield, Attorney at Law, of Lake Charles, Louisiana, and a certified transcript of this proceeding.
In accordance with the Notice of Bond Sale, we enclose herewith (certified) (cashier's) check(s) number(s) 100 27830 drawn on Whitney National Bank of New Orleans, Louisiana, in the amount of TWO HUNDRED SIXTY THOUSAND AND NO/100 ($260,000.00) DOLLARS, which is tendered as evidence of our good faith in accordance with and under the provisions of the Official Statement and of the Notice of Bond Sale. Said check shall be returned to the undersigned upon award of the Bonds, provided this proposal is not accepted; otherwise, to be retained uncashed by School District No. 31 of Calcasieu Parish, Louisiana, and returned upon delivery of the Bonds and payment therefor, or to be cashed and forfeited as and for full liquidated damages in case of the failure of the undersigned to make such payment.
We acknowledge and understand the Bonds are not designated as “qualified tax-exempt obligations” pursuant to Section 265(b)(3)(B) of the Internal Revenue Code of 1986.
This bid complies with the terms stipulated in the aforesaid Notice of Bond Sale, the receipt of which Notice of Bond Sale is hereby acknowledged.
NOW THEREFORE, BE IT RESOLVED by the Calcasieu Parish School Board, governing authority of School District No. 31 of Calcasieu Parish, Louisiana, as follows:
SECTION 1. Definitions. As used herein the following terms shall have the following meanings, unless the context otherwise requires:
“Agreement” means the agreement to be entered into between the Issuer and the Paying Agent pursuant to this Resolution.
“Bond” means any 2002 Series Bonds of the Issuer authorized to be issued by this Resolution, whether initially delivered or issued in exchange for, upon transfer of, or in lieu of any bond previously issued.
“Bond Register” means the record kept by the Paying Agent at its principal corporate office in which registration of the Bonds and transfers of the Bonds shall be made as provided herein.
“Bonds” means the General Obligation Public School Improvement Bonds, 2002 Series of the Issuer, authorized by this Resolution, in the total aggregate principal amount of Thirteen Million Dollars ($13,000,000), dated March 1, 2002 (being the second series of an authorized issue of $38,000,000. The Issuer has previously issued, sold and delivered $15,000,000 Public School Improvement Bonds of School District No. 31 of Calcasieu Parish, Louisiana, 2000 Series, dated May 1, 2000, which are payable from and secured by ad valorem taxation on a parity with the Bonds.)
“Business Day” means a day of the year other than a day on which banks in the city in which the Paying Agent is located are required or authorized to remain closed or the New York Stock Exchange is closed.
“Code” means the Internal Revenue Code of 1986, as amended.
“Debt Service Fund” shall have the meaning ascribed to such term in Section 10 hereof.
“Defeasance Obligations” shall mean (a) cash, or (b) non-callable Government Securities.
“Executive Officers” means, collectively, the President and Secretary of the Governing Authority.
“Governing Authority” means the Calcasieu Parish School Board.
“Government Securities” means direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by the United States of America, which are non-callable prior to their maturity, and may be United States Treasury obligations such as the State and Local Government Series and may be in book-entry form.
“Interest Payment Dates” means March 1 and September 1 of each year beginning March 1, 2003.
“Issuer” means School District No. 31 of Calcasieu Parish, Louisiana.
“Outstanding” when used with respect to the Bonds means, as of the date of determination, all Bonds theretofore issued and delivered under this Resolution, except:
1. Bonds theretofore cancelled by the Paying Agent or delivered to the Paying Agent for cancellation.
2. Bonds for which payment or redemption sufficient funds have been theretofore deposited in trust for the Owners of such Bonds, provided that, if such Bonds are to be redeemed, irrevocable notice of such redemption has been duly given or provided for pursuant to this Resolution or waived.
3. Bonds in exchange for or in lieu of which other bonds have been registered and delivered pursuant to this Resolution.
4. Bonds alleged to have been mutilated, destroyed, lost, or stolen, which have been paid as provided in this Resolution or by law.
5. Bonds for the payment of principal (or redemption price, if any) of and interest on which money or Government Securities or both are held in trust with the effect specified in this Resolution.
“Owner” or “Owners” or “Registered Owner” when used with respect to any Bond means the Person in whose name such Bond is registered in the Bond Register, as herein provided.
“Paying Agent” means Argent Trust Company, a Division of National Independent Trust Company, in Ruston, Louisiana, until a successor Paying Agent shall have been appointed pursuant to the applicable provisions of this Resolution, and thereafter “Paying Agent” shall mean such successor Paying Agent.
“Person” means any individual, corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated organization, or government or any agency or political subdivision thereof.
“Purchaser” means the original purchaser or purchasers of the Bonds.
“Record Date” for the interest payable on any Interest Payment Date means the first calendar day of the month in which an Interest Payment Date is due, whether or not such day is a Business Day.
“Resolution” means this Resolution authorizing issuance of the Bonds.
SECTION 2. Authorization of Bonds; Maturities. In compliance with and under the authority of the provisions of Article VI, Section 33 and Article VII, Section 26(E) of the Constitution of the State of Louisiana of 1974, as amended, and those portions of Part II of Article 7 of the Constitution of 1974 of the State of Louisiana not repealed by the 1977 Louisiana Legislature, and Sub-Part A, Part III, Chapter 4, Sub-Title II of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and constitutional and statutory authority supplemental thereto, and pursuant to proceedings regularly and legally taken by the Issuer, and a special election held within the Issuer on March 14, 2000, there is hereby authorized the incurring of an indebtedness of Thirteen Million Dollars ($13,000,000) (being the second series of an authorized issue of $38,000,000) for, and on behalf of and in the name of the Issuer, for the purpose of acquiring and/or improving school buildings and other school related facilities within and for the Issuer, and acquiring the necessary equipment and furnishings therefor, a work of public improvement, title to which school improvements shall be in the public, and to pay the cost of issuance of the Bonds, and to represent said indebtedness this Governing Authority does hereby authorize issuance of Thirteen Million Dollars ($13,000,000) of General Obligation Public School Improvement Bonds, 2002 Series, of the Issuer. The Bonds shall be in fully registered form, shall be dated March 1, 2002, shall be issued in the denomination of Five Thousand Dollars ($5,000) each, or any integral multiple thereof within a single maturity, and shall be numbered consecutively from R-1 upward and shall mature in the years and in the principal amounts set out in the following schedule. The unpaid principal of the Bonds shall bear interest from date thereof or from the most recent Interest Payment Date to which interest has been paid or duly provided for, payable on each Interest Payment Date, commencing March 1, 2003, at rates of interest of not to exceed 9% per annum, as determined by receipt of sealed bids pursuant to advertisement, and maturing in the principal amounts as set out in the following schedule:
MATURITY PRINCIPAL INTEREST MATURITY PRINCIPAL INTEREST
DATE AMOUNT RATE PER DATE AMOUNT RATE PER
(March 1) ANNUM (March 1) ANNUM
2003 395,000 5.500% 2013 640,000 4.400%
2004 410,000 7.375% 2014 675,000 4.500%
2005 435,000 6.000% 2015 705,000 4.600%
2006 455,000 5.750% 2016 740,000 4.700%
2007 480,000 5.750% 2017 780,000 4.800%
2008 500,000 4.250% 2018 815,000 4.900%
2009 525,000 4.000% 2019 860,000 5.000%
2010 555,000 4.100% 2020 900,000 5.000%
2011 580,000 4.200% 2021 945,000 5.000%
2012 610,000 4.300% 2022 995,000 5.000%
The principal of the Bonds, upon maturity or redemption, shall be payable at the principal corporate trust office of the Paying Agent, upon presentation and surrender thereof, and interest on the Bonds shall be payable by check mailed by the Paying Agent to the Registered Owner at the address shown on the Bond Register. The person in whose name any Bond is registered at the close of business on the Record Date with respect to an Interest Payment Date (unless such Bond has been called for redemption on a redemption date which is prior to such Interest Payment Date) shall be entitled to receive the interest payable with respect to such Interest Payment Date notwithstanding the cancellation of such Bond upon any registration of transfer or exchange thereof subsequent to such Record Date and prior to such Interest Payment Date. Each Bond delivered under this Resolution upon transfer of or in exchange for or in lieu of any other Bond shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Bond, and each such Bond will bear interest (as herein set forth) so that neither gain nor loss interest shall result from such transfer, exchange or substitution.
No Bond will be entitled to any right or benefit under this Resolution, or be valid or obligatory for any purpose, unless there appears on such Bond a certificate of registration, substantially in the form provided in this Resolution, executed by the Paying Agent by manual signature.
SECTION 3. Redemption Provisions. Those Bonds maturing in the years 2003 to 2007, inclusive, shall not be subject to redemption prior to maturity. Those Bonds maturing March 1, 2008 and thereafter shall be callable for redemption by the Issuer in full at any time on or after March 1, 2007, or in part in the inverse order of their maturities, and if less than a full maturity then by lot within such maturity, on any Interest Payment Date on or after March 1, 2007, at the principal amount thereof, plus accrued interest from the most recent Interest Payment Date to which interest has been paid or duly provided for to the date fixed for redemption.
In the event a Bond to be redeemed is of a principal amount denomination larger than $5,000, a portion of such Bond ($5,000 principal amount or any multiple thereof) may be redeemed. Any Bond which is to be redeemed only in part shall be surrendered at the principal corporate office of the Paying Agent and there shall be delivered to the Owner of such Bond a new Bond or Bonds of the same maturity and of any authorized denomination or denominations as requested by such Owner in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal amount of the Bond so surrendered. Official notice of such call of any of the Bonds for redemption will be given by means of first class mail, postage prepaid, by notice deposited in the United States mail not less than thirty (30) days prior to the redemption date, addressed to the Owner of each Bond to be redeemed as shown on the Bond Register.
SECTION 4. Exchange of Bonds; Persons Treated as Owners. The Issuer shall cause books for registration and for transfer of the Bonds (the “Bond Register”), as provided in this Resolution to be kept at the principal office of the Paying Agent, and the Paying Agent is hereby constituted and appointed the Registrar for the Bonds. The Bonds may be transferred, registered and assigned, at the expense of the Issuer, only upon the Bond Register upon surrender thereof at the principal office of the Paying Agent and by execution of the assignment form on the Bonds or by other instrument of transfer and assignment in such form as shall be satisfactory to the Paying Agent. A new Bond or Bonds will be delivered by the Paying Agent to the last assignee (the new registered owner) in exchange for such transferred and assigned Bonds within three (3) business days after receipt of the Bonds to be transferred in proper form. Such new Bond or Bonds must be in the principal amount denomination of $5,000 or any integral multiple thereof within a single maturity. Neither the Issuer nor the Paying Agent will be required to issue, register the transfer of or exchange any Bond during a period beginning (i) at the opening of business on the Record Date, or (ii) with respect to any Bond called for redemption prior to maturity during a period beginning at the opening of business fifteen (15) days before the date of mailing of a notice of redemption of such Bond and ending on the date of such redemption. The execution by the Issuer of any fully registered Bond shall constitute full and due authorization of such Bond and the Paying Agent shall thereby be authorized to authenticate, date and deliver such Bond; provided, however, that the principal amount of outstanding Bonds of each maturity authenticated by the Paying Agent shall not exceed the authorized principal amount of Bonds for such maturity less previous retirements, subject to the provisions of Section 18 hereof. The Issuer is authorized to prepare, and the Paying Agent shall keep custody of, multiple Bond blanks executed by the Issuer for use in the transfer and exchange of Bonds.
SECTION 5. Registered Owner. As to any Bond, the Person in whose name the same shall be registered as shown on the Bond Register required by Section 4, shall be deemed and regarded as the absolute Owner thereof for all purposes, and payment of or on account of the principal of and premium, if any, and interest on any such Bond shall be made only to or upon the order of the Registered Owner thereof or his legal representative, and the Issuer and the Paying Agent shall not be affected by any notice to the contrary. All such payments shall be valid and effectual to satisfy and discharge the liability upon such Bond, including the interest thereon, to the extent of the sum or sums so paid.
SECTION 6. Form of Bonds. The Bonds and the endorsements to appear thereon will be in substantially the following form, to-wit:
(FACE OF BOND)
UNITED STATES OF AMERICA STATE OF LOUISIANA
PARISH OF CALCASIEU
REGISTERED REGISTERED
NO. R-____________ $____________
GENERAL OBLIGATION PUBLIC SCHOOL IMPROVEMENT BOND OF
SCHOOL DISTRICT NO. 31 OF
CALCASIEU PARISH, LOUISIANA
2002 SERIES
INTEREST RATE: MATURITY DATE: CUSIP:
School District No. 31 of Calcasieu Parish, Louisiana (herein called the “Issuer”), for value received, hereby acknowledges itself indebted and promises to pay to
REGISTERED OWNER:
PRINCIPAL AMOUNT
(Lower Left)
OFFICE OF SECRETARY OF STATE
STATE OF LOUISIANA
BATON ROUGE, LOUISIANA
This Bond secured by a tax. Registered
on the ______ day of March, 2002.
____________________________
SECRETARY OF STATE
PAYING AGENT/REGISTRAR'S
CERTIFICATE OF REGISTRATION
This Bond is one of the Bonds referred
to in the within mentioned Bond Resolution.
Argent Trust Company, a Division of
National Independent Trust Company
in the City of Ruston, Louisiana,
as Paying Agent/Registrar
By:_________________________________
Date of Authentication:
(Lower Right)
or registered assigns, on the maturity date set forth above, the principal amount set forth above, together with interest thereon from the date hereof, said interest payable semi-annually on March 1 and September 1 in each year, beginning March 1, 2003, at the interest rate per annum set forth above until said principal sum is paid, unless this Bond has been previously called for redemption and payment shall have been duly made or provided for. The principal of this Bond upon maturity or redemption is payable in lawful money of the United States of America at the principal corporate trust office of Argent Trust Company, a Division of National Independent Trust Company located in the City of Ruston, Louisiana (the Paying Agent/Registrar), or successor thereto, upon presentation and surrender hereof. Interest on this Bond is payable by check mailed on each interest payment date by the Paying Agent/Registrar to the registered owner (determined as of the fifteenth calendar day of the month next preceding an interest payment date) at the address, as shown on the books of the Paying Agent/Registrar.
REFERENCE IS MADE TO THE FURTHER PROVISIONS OF THIS BOND SET FORTH ON THE REVERSE HEREOF WHICH SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS THOUGH FULLY SET FORTH HEREIN.
This Bond shall not be valid or become obligatory for any purpose or be entitled to any security or benefit under the Bond Resolution defined hereinafter until the Certificate of Registration hereon shall have been signed by the Paying Agent/Registrar.
IN WITNESS WHEREOF, the Calcasieu Parish School Board, acting as the governing authority of School District No. 31 of Calcasieu Parish, Louisiana, has caused this Bond to be executed in its name by the facsimile signatures of its President and Secretary and the impress or imprint hereon of the seal of said School Board, and this Bond to be dated March 1, 2002.
CALCASIEU PARISH SCHOOL BOARD
/s/ [facsimile] /s/ [facsimile] SECRETARY PRESIDENT
(REVERSE OF BOND)
ADDITIONAL PROVISIONS
This Bond is one of an issue, the Bonds of which are all of like date, tenor and effect, except as to the number, maturity and rate of interest, aggregating in principal the sum of THIRTEEN MILLION AND NO/100 ($13,000,000) DOLLARS; said Bonds to mature annually, issued pursuant to a resolution adopted on February 19, 2002 by the Issuer (the “Bond Resolution”), under and by virtue of Article 6, Section 33 and Article 7, Section 26(E) of the Constitution of 1974 of the State of Louisiana, and those portions of Part II of Article 7 of the Constitution of 1974 of the State of Louisiana not repealed by the 1977 Louisiana Legislature, and Subpart A of Part III of Chapter 4 of Sub-Title II of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and all other laws on the same subject matter, and pursuant to proceedings regularly and legally taken by the Issuer, for the purpose of acquiring and/or improving lands for building sites and playgrounds, purchasing, erecting, enlarging and/or improving school buildings and other school related facilities within and for the Issuer, and acquiring the necessary equipment and furnishings therefor.
This Bond and the issue of which it forms a part are payable out of the receipt of unlimited ad valorem taxes levied on all properties subject to taxation within School District No. 31 of Calcasieu Parish, Louisiana.
The Paying Agent/Registrar for this issue is Argent Trust Company, a Division of National Independent Trust Company, Louisiana, Ruston, Louisiana. This Bond shall pass by delivery on the books of the Issuer to be kept for that purpose at the principal corporate trust office of the Registrar and such registration is noted hereon. After such registration no transfer shall be valid unless made on said books at said office by the registered owner in person or by his duly authorized attorney and similarly noted hereon. This Bond may not be discharged from registration by like transfer to bearer. The Issuer and the Registrar may treat the registered owner as the absolute owner hereof for all purposes, whether or not this Bond shall be overdue and shall not be bound by any notice to the contrary.
Those Bonds maturing in the years 2003 to 2007, inclusive, shall not be subject to redemption prior to maturity. Those Bonds, or portions thereof in multiples of $5,000, maturing in the years 2008 to 2022, inclusive, shall be subject to redemption prior to their stated maturities, at the option of the Issuer, in such order as the Issuer may determine and by lot within any maturity, on any interest payment date on or after March 1, 2007, at par and accrued interest to the date fixed for redemption.
Official notice of such call for redemption of any of the Bonds shall be given not less than thirty (30) days prior to the redemption date by means of registered or certified mail by notice deposited in the United States mail addressed to the Paying Agent/Registrar and to the registered owner of each Bond to be redeemed at his address as shown on the registration books of the Paying Agent/Registrar. In the event a Bond is of a denomination larger than $5,000, a portion of such Bond ($5,000 or any multiple thereof) may be redeemed.
It is certified that this Bond is authorized by and is issued in conformity with the requirements of the Constitution and statutes of the State of Louisiana. It is further certified, recited and declared that all acts, conditions and things required to exist, to happen and to be performed precedent to and in the issuance of this Bond necessary to constitute the same as a legal, binding and valid obligation of the Issuer, have existed, have happened and have been performed in due time, form and manner as required by law, and that the indebtedness of the Issuer, including this Bond, does not exceed any limitation prescribed by the Constitution and statutes of the State of Louisiana.
ASSIGNMENT
FOR VALUE RECEIVED, , the undersigned, hereby sells, assigns and transfers unto the within Bond and all rights thereunder, and hereby irrevocably constitutes and appoints attorney or agent to transfer the within Bond on the books kept for registration thereof, with full power of substitution in the premises.
Dated:___________________
NOTICE: The signature to this assignment must correspond with the name as it appears upon the face of the within Bond in every particular, without alteration or enlargement or any change whatever.
(FORM OF LEGAL OPINION CERTIFICATE -
TO BE PRINTED ON ALL BONDS)
I, the undersigned Secretary of the Calcasieu Parish School Board, governing authority of School District No. 31 of Calcasieu Parish, Louisiana, do hereby certify that the above and foregoing is a true copy of the complete legal opinion of Joseph A. Delafield