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, October 1, 2002, at 5:00 p.m. John M. Falgout, President, called the meeting to order. Randy Armentor led the prayer; Berk Fontenot 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, Sheral A. LaVergne, James W. Pitre, Gregory P. Robert, Philip Tarver and Elray T. Victorian.
James W. Karr, Sr., was absent.
MINUTES APPROVED
On motion by Mrs. Duhon, seconded by Mr. Andrepont and unanimously carried, the minutes of the regular meeting of September 17, 2002, were approved as presented.
Supplemental Agenda
By general consent the Supplemental Agenda was included as part of the regular agenda.
Agenda/Amend
By general consent item VII-B, Cooperative Endeavor Agreement with the Calcasieu Parish Sheriff’s Office – Safe Schools Program was placed after the approval of the supplemental agenda.
After discussion relative to the costs associated with the endeavor, a motion was made by Mr. Armentor, seconded by Mrs. Duhon and carried, the following agreement was approved: The vote reflected one nay vote.
STATE OF LOUISIANA
COOPERATIVE ENDEAVOR AGREEMENT
PARISH OF CALCASIEU
BE IT KNOWN, that before the undersigned Notaries Public, duly commissioned and qualified in and for their respective localities as hereinafter stated, on the dates hereinafter set forth, and in the presence of the competent witnesses hereinafter named and undersigned,
PERSONALLY CAME AND APPEARED:
CALCASIEU PARISH SCHOOL BOARD (the “School Board”), the governing authority of the Parish of Calcasieu for public school purposes and a political subdivision of the State of Louisiana within the meaning of Article 6, Section 44 of the 1974 Louisiana Constitution, herein represented by its President, John M. Falgout, duly authorized,
CALCASIEU PARISH SHERIFF’S OFFICE (the “Sheriff’s Office”), the chief law enforcement agency for the Parish of Calcasieu herein represented by Sheriff Beth Lundy, duly authorized,
Section 1. AUTHORITY
This Agreement is entered into by the parties under the authority of the Constitution and laws of the State of Louisiana, including specifically Article 7, Section 14 of the 1974 Louisiana Constitution.
The Sheriff’s Office and the School Board hereby find and declare that they are each authorized by general and special laws to perform the activities herein contemplated and to exercise all powers that may be necessary for completion of the undertaking herein described.
Section 2. PUBLIC PURPOSE
In order to provide a safe and secure learning environment at the public schools of Calcasieu Parish the Sheriff’s Office and the School Board do hereby contract for the placement of a fully commissioned deputy sheriff (School Resource Officer) at the schools and/or in the zones identified in Exhibit A attached hereto and made a part hereof. It is the express intent of this Agreement that the assigned School Resource Officer shall at all times be under the direct supervision and control of the Calcasieu Parish Sheriff’s Office. Additionally, it is the express intent of the parties that the School Resource Officer is to be present on the grounds of the school for the purpose, in addition to his normal law enforcement obligations, of assisting the administration of the school(s) with law enforcement and security related problems. The School Resource Officer and the principal of the school shall work together to determine what would be the most effective use of the School Resource Officer’s time and resources.
Section 3. JOINT EFFORT
The Sheriff’s Office and the School Board agree to cooperate in the implementation and administration of the Safe School Program. It is a cooperative effort intended to provide a safe and secure learning environment that is compliant with school board policies and to ensure that school grounds are a safe haven for students. The School Resource Officer’s primary duty shall be to enforce the law and to attempt to prevent criminal violations.
Section 4. SCHOOL BOARD CONTRIBUTION
The School Board agrees to reimburse the Sheriff’s Office, at the beginning of each school year, no later than October 1st, as follows:
2002 $200,000.00
2003 $175,000.00
2004 $150,000.00
Section 5. SHERIFF’S OFFICE CONTRIBUTION
The Sheriff’s Office agrees to provide post certified, fully commissioned, deputies to be assigned as identified in Exhibit A. The Sheriff’s Office further agrees to pay the salary and benefits of the deputy, as agreed upon with the School Board. This is subject to the obligation of the School Board to reimburse the Sheriff’s Office as described in Section 4.
Section 6. LIMITATIONS
It is expressly understood and agreed that the School Resource Officer will at all times be under the direct supervision and control of the Sheriff’s Office and the supervisors designated by the Sheriff’s Office. It is further understood and agreed that the School Resource Officer shall cooperate and work with the principal at the school to which they are assigned. Although the principal is not in the chain of command at the Sheriff’s Office, he or she is to be treated with respect and their requests given priority. The principal is the School Board’s representative at the school. It is the intent of this Agreement that the principal and the School Resource Officer shall work together in a harmonious manner to achieve the goals outlined in this Agreement. The Sheriff’s Office shall designate which deputies are to be assigned to each of the agreed locations.
Section 7. INSURANCE
The parties shall provide to each other such insurance coverage and verification as may be agreed upon. The School Board agrees to pay the Sheriff’s Office an amount equal to one-half of the cost to bring down its S.I.R. from $200,000.00 to $25,000.00. The School Board shall be named an “additional insured” by the Sheriff’s Office insurance carrier, St. Paul, and the Sheriff’s Office shall be named an “additional insured” by the School Board’s insurance carrier, Coregis.
Section 8. INDEMNIFICATION
On any claim arising under the Safe School Program where both the Sheriff’s Office and the School Board are named or cited as defendants or potential defendants, the parties agree to each be responsible for one-half of the $25,000.00 S.I.R. amount, or such other percentage or proportion as may be mutually agreed upon.
Section 9. MEDIATION
For all disputes arising under this Agreement and which the parties are unable to resolve, it is agreed that before any legal action can be taken the parties must submit to mediation. The mediator shall be selected by mutual agreement of the parties. If an agreement cannot be reached on selection of the mediator, each party shall submit the name of two mediators for placement in a hat. A random drawing will then decide who will be the mediator for the dispute. All costs associated with the mediation are to be paid one-half by the School Board and one-half by the Sheriff’s Office.
Section 10. NOTICE
The parties hereto agree to immediately notify one another of all incidents and/or emergencies arising under this Agreement or the Safe School Program. The mechanism for providing this notice shall be developed by the parties so as to provide effective notice in addition to recognition of the need to not compromise ongoing or planned investigations.
Section 11. PROGRAM REVIEW
The Safe School Program shall be jointly reviewed by the School Board and the Sheriff’s Office in both January and June. Any improvements should, when possible, be incorporated into the upcoming year of the program.
Section 12. TRAINING
The Sheriff’s Office shall allow designees of the School Board to view, review and/or participate in the training provided in-house by the Sheriff’s Office for those deputies to be assigned pursuant to this Agreement.
Section 13. GRANT APPLICATION
The parties acknowledge that the Sheriff’s Office has applied for and received a three-year grant from the Federal Government. This grant will not pay for the entire Safe School Program and that is the reason the parties have agreed to the contribution schedule described in Section 4. The grant is for three years and contains a provision requiring that the Safe School Program continue for at least one year after the grant expires. The parties agree that they will co-sponsor the Safe School Program for at least one year after the expiration of the grant. They agree to share the total expenses in a way that can be better negotiated in the last year of the grant. The parties further agree to begin talks no later than the 2004–2005 school year regarding the scope and the funding of the Safe School Program for the 2005–2006 school year. It is further agreed that the Safe School Program and this Agreement are intended to be completely separate from any other agreement between the School Board and the Sheriff’s Office and are not intended to alter any other agreements regarding deputies working in a similar fashion at schools within Calcasieu Parish.
Section 14: TERM
The term of this Agreement shall be for the 2002-2003, 2003-2004 and 2004-2005 school years. Additionally, as referred to in Section 13, the parties agree herein to co-sponsor the program for the 2005-2006 school year and to begin work on any revisions to that program during the preceding school year.
THUS DONE AND PASSED in duplicate original at Lake Charles, Louisiana, in the presence of the undersigned competent witnesses, and me, Notary, on the _____ day of ____________________, 2002.
WITNESSES: CALCASIEU PARISH SHERIFF’S OFFICE
________________________ BY: _______________________________ BETH LUNDY, SHERIFF
________________________
_____________________________
NOTARY PUBLIC
THUS DONE AND PASSED in duplicate original at Lake Charles, Louisiana, in the presence of the undersigned competent witnesses, and me, Notary, on the _____ day of ____________________, 2002.
WITNESSES: CALCASIEU PARISH SCHOOL BOARD
BY: ______________________________
JOHN M. FALGOUT, PRESIDENT
________________________
_____________________________
NOTARY PUBLIC
PRESENTATIONS
Calcasieu Association of Educators Executive Board Members
Mary Margaret David, CAE representative, announced the following Calcasieu Association of Educators Executive Board Members:
Mark Hayes, President
Linda Ferguson, Treasurer
Patricia Thomas, Membership Chairperson
Betty Edwards
Judy Ellis
Patricia Thomas
Members At Large: Lydia Colligan, Betty Edwards, Judy Ellis, John Jenkins, Linda Manuel, Dorothy Ortego
Sandra Dvergsdal, Louisiana UniServ Director
BESE Status Report
Dale Bayard, BESE representative, gave a report on the following:
· MFP
· Health Care Costs
· Salary Inequities
· Summer LEAP Test Administration Date
TAKE APPROPRIATE ACTION
Resolution Authorizing Advertisement for Sale of Bonds of School District Number 34
Lake Charles, Louisiana
October 1, 2002
The Parish School Board of Calcasieu Parish, Louisiana, met in regular public session at 5:00 o’clock p.m. on Tuesday, October 1, 2002, at the regular meeting place of said Board in the Calcasieu Parish School Board Office Building, 1732 Kirkman Street, 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.
President John M. Falgout, 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, Sheral LaVergne, James W. Pitre, Greg Robert, Philip E. Tarver and Elray T. Victorian
ABSENT: James W. Karr, Sr.
The meeting was called to order and the roll called with the above result.
The following resolution was thereupon introduced, and pursuant to motion made by Mr. Tarver and seconded by Mr. Robert, 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, Ms. LaVergne, Mr. Pitre, Mr. Robert, Mr. Tarver and Mr. Victorian
NAYS: None
RESOLUTION
A RESOLUTION AUTHORIZING ADVERTISEMENT FOR SALE OF $10,000,000 GENERAL OBLIGATION PUBLIC SCHOOL IMPROVEMENT BONDS OF SCHOOL DISTRICT NO. 34 OF CALCASIEU PARISH, LOUISIANA, 2002 SERIES A, AND $1,750,000 GENERAL OBLIGATION PUBLIC SCHOOL IMPROVEMENT BONDS OF SCHOOL DISTRICT NO. 34 OF CALCASIEU PARISH, LOUISIANA, 2002 SERIES B;
ADOPTING THE PRELIMINARY DRAFT OF THE OFFICIAL STATEMENT TO BE PROVIDED THE INITIAL PURCHASER(S) OF $10,000,000 GENERAL OBLIGATION PUBLIC SCHOOL IMPROVEMENT BONDS OF SCHOOL DISTRICT NO. 34 OF CALCASIEU PARISH, LOUISIANA, 2002 SERIES, AND AUTHORIZING ITS DISTRIBUTION TO PROSPECTIVE BIDDERS FOR THE BONDS; AND AUTHORIZING, APPROVING AND DIRECTING THE TAKING OF ALL OTHER ACTIONS NECESSARY TO THE CONSUMMATION OF THE TRANSACTIONS CONTEMPLATED BY THIS RESOLUTION.
BE IT RESOLVED by the Parish School Board of Calcasieu Parish, Louisiana, the governing authority of School District No. 34 of Calcasieu Parish, Louisiana as follows:
SECTION 1. $10,000,000 General Obligation Public School Improvement Bonds of School District No. 34 of Calcasieu Parish, Louisiana, 2002 Series A, and $1,750,000 General Obligation Public School Improvement Bonds of School District No. 34 of Calcasieu Parish, Louisiana, 2002 Series B (collectively, the “Bonds”), authorized by an election held in School District No. 34 on July 20, 2002, shall be sold as herein directed.
SECTION 2. Sealed bids shall be received for the purchase of the Bonds and the Bonds shall be opened in public session of the Calcasieu Parish School Board on October 15, 2002, at 5:00 o’clock p.m. Central Daylight (Louisiana) Time, at the regular meeting place of the Calcasieu Parish School Board, 1732 Kirkman Street, Lake Charles, Louisiana.
SECTION 3. In accordance with Article 1426 of Title 39 of the Louisiana Revised Statutes of 1950, as amended, notice of the sale of the Bonds shall be published one time at least seven clear calendar days before the date scheduled for the receipt of bids, in the Southwest Daily News, a newspaper published in Calcasieu Parish and of general circulation in School District No. 34 of Calcasieu Parish, and at least once in the Daily Journal of Commerce, a financial journal or newspaper containing a section devoted to municipal bond news published in the City of New Orleans, Louisiana, which publication shall be made at least forty-eight (48) hours in advance of the date scheduled for the receipt of bids. The notice of sale to be published shall be substantially in the following form:
NOTICE OF BOND SALE
$10,000,000
GENERAL OBLIGATION PUBLIC SCHOOL IMPROVEMENT BONDS
OF SCHOOL DISTRICT NO. 34 OFCALCASIEU PARISH, LOUISIANA
2002 SERIES A
$1,750,000
GENERAL OBLIGATION PUBLIC SCHOOL IMPROVEMENT BONDS
OF SCHOOL DISTRICT NO. 34 OF
CALCASIEU PARISH, LOUISIANA
2002 SERIES B
SEALED BIDS will be received by the Calcasieu Parish School Board, acting as the governing authority of School District No. 34 of Calcasieu Parish, Louisiana (the “Issuer”), at the Parish School Board Office at 1732 Kirkman Street, Lake Charles, Louisiana, until 5:00 o’clock p.m., Central Daylight (Louisiana) Time, on Tuesday, the
15th DAY OF OCTOBER, 2002,
for the purchase of the following issue or issues of Bonds of School District No. 34 of Calcasieu Parish, Louisiana (the “Bonds”), authorized at a special election held within the Issuer on Saturday, July 20, 2002:
$10,000,000 (being part of an authorized issue of $34,000,000) General Obligation Public School Improvement Bonds, 2002 Series A, maturing November 1 in each year in the principal amount as set forth opposite such year in the following table:
YEAR AMOUNT YEAR AMOUNT
2003 300,000 2013 490,000
2004 320,000 2014 520,000
2005 335,000 2015 540,000
2006 350,000 2016 570,000
2007 365,000 2017 600,000
2008 385,000 2018 630,000
2009 405,000 2019 660,000
2010 430,000 2020 695,000
2011 445,000 2021 725,000
2012 470,000 2022 765,000
$1,750,000 General Obligation Public School Improvement Bonds, 2002 Series B, maturing November 1 in each year in the principal amount as set forth opposite such year in the following table:
YEAR AMOUNT YEAR AMOUNT
2003 55,000 2013 85,000
2004 55,000 2014 95,000
2005 55,000 2015 95,000
2006 65,000 2016 100,000
2007 65,000 2017 105,000
2008 65,000 2018 110,000
2009 70,000 2019 115,000
2010 75,000 2020 120,000
2011 80,000 2021 125,000
2012 80,000 2022 135,000
The Bonds will be in fully registered form, dated November 1, 2002, will initially be one bond for each maturity with transfers in multiples of $5,000, and will be payable from and secured by unlimited ad valorem taxation. All Bonds of the same maturity must bear interest from date thereof until paid at one basic rate of interest to be designated by the bidder not exceeding nine (9%) percent per annum on any Bond in any interest payment period, said interest to be payable semi-annually on May 1 and November 1 of each year, beginning May 1, 2003.
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 maturity, 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 November 1, 2007, at par and accrued interest to the date fixed for redemption.
The Bonds will be payable at a bank or trust company to be designated by the purchaser of the Bonds at the time of the sale thereof or within three (3) days of the date of such sale.
A certified or cashier’s check in the amount of $200,000.00 for the Series A Bonds, and $35,000 for the Series B Bonds, drawn on an incorporated bank or trust company and payable to the order of School District No. 34 of Calcasieu Parish, Louisiana, must accompany each bid as a guarantee of good faith on the part of the bidder, to be forfeited as liquidated damages if such bid be accepted and the bidder fails to take up and pay for the Bonds. The check of the successful bidder will be retained uncashed by the Issuer and returned upon delivery of the Bonds and payment therefor. Checks of unsuccessful bidders will be promptly returned to each bidder’s representative or by certified mail.
All bids must be submitted on bid forms furnished by the Calcasieu Parish School Board without alteration or qualification. Bidders shall name one basic rate of interest for each Bond maturity not exceeding nine (9%) percent per annum on any Bond in any interest payment period to be expressed in a multiple of one-twentieth (1/20) or one-eighth (1/8) of one (1%) percent per annum. No bids for less than par and accrued interest from November 1, 2002 to the date of delivery of the Bonds or which specifies the cancellation of Bonds will be considered. Any premium bid must be paid in funds specified for the payment of the Bonds as part of the purchase price.
The Bonds will be awarded to the bidder offering to purchase the Bonds at such rate or rates of interest as will produce the lowest effective interest rate to the Issuer. The lowest effective interest rate will 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. If any bid for the Bonds shall be acceptable, a prompt award of the Bonds will be made. The right is expressly reserved to waive any irregularity in any bid or to reject any and all bids received.
The successful bidder shall make a bona fide public offering of the Bonds, and, as a condition to the Issuer's obligation to deliver the Bonds, the successful bidder must furnish to the Issuer within twenty-four hours after being notified of the award of the Bonds, the initial public offering prices of the Bonds. Upon Delivery of the Bonds, the successful bidder will furnish a certificate acceptable to Bond Counsel to the Issuer (i) specifying the reoffering prices at which a substantial amount of the Bonds was sold to the public (excluding bond houses, brokers and other intermediaries) and (ii) certifying as to the accuracy of such reoffering prices. Bond Counsel advises that (i) such certificate must be made on the best knowledge, information and belief of the successful bidder, (ii) the sale to the public of 10% or more in par amount of the Bonds of each maturity at (or below) the initial reoffering prices would be sufficient to certify as to the sale of a substantial amount of the Bonds, and (iii) reliance on other facts as a basis for such certification would require evaluation by Bond Counsel to assure compliance with the applicable provisions of the Internal Revenue Code of 1986, as amended (the “Code”).
If the Bonds qualify for issuance of any policy of municipal bond insurance or commitment therefor at the option of the bidder, any purchase of such insurance or commitment therefor shall be at the sole option and expense of the bidder and any increased costs of issuance of the Bonds resulting by reason of such insurance, unless otherwise paid, shall be paid by such bidder. Any failure of the Bonds to be so insured or of any such policy of insurance to be issued, shall not in any way relieve the purchaser of his contractual obligations arising from the acceptance of his proposal for the purchase of the Bonds.
It is anticipated that CUSIP identification numbers will be printed on the Bonds, but the failure to print such numbers shall not constitute cause for refusal by the successful bidder to accept delivery of and to pay for the Bonds. No CUSIP identification number shall be deemed to be part of the Bond or a part of the contract evidenced thereby, and no liability shall hereafter attach to the issuer or any officers or agents thereof because of or on account of such numbers. All expenses in relation to the printing of the CUSIP identification numbers on the Bonds shall be paid by the Issuer. However, the CUSIP Service Bureau charge for the assignment of such numbers shall be the responsibility of and shall be paid by the successful bidder.
A copy of the Issuer’s preliminary official statement may be obtained by contacting Joseph A. Delafield, Attorney at Law, 3401 Ryan Street, Suite 307, P. O. Box 4272, Lake Charles, Louisiana 70605/70606, Bond Counsel. The Preliminary Official Statement is in a form “deemed final” by the Issuer for purposes of SEC Rule 15c2-12(b)(1) but is subject to revision, amendment, and completion in a final official statement.
Promptly after the sale date, but in no event later than seven (7) business days after such date, the Issuer will provide the successful bidder with a reasonable number of final Official Statements, not to exceed one hundred (100) f.o.b. Lake Charles, Louisiana. Such final Official Statements may be obtained without cost to the successful bidder from the Issuer as set forth herein. Additional copies of the final Official Statement may be obtained up to three months following the sale of the Bonds by a request and payment of costs for reproduction.
The approving legal opinion of Joseph A. Delafield, Attorney at Law, of Lake Charles, Louisiana, and the transcript of record as passed upon, will be furnished to the successful bidder(s) without cost to it. The transcript will contain the usual closing proofs, including a certificate by the Issuer that up to the time of delivery, no litigation has been filed questioning the validity of the Bonds or the taxes necessary to pay the same.
For information relative to the Bonds not contained in the Notice of Bond Sale and the Official Statement, address The Honorable Jude W. Theriot, Superintendent of Schools of Calcasieu Parish, Louisiana and Ex-Officio Secretary of the Calcasieu Parish School Board, 1724 Kirkman Street, Lake Charles, Louisiana 70601; or Joseph A. Delafield, Esq., Bond Counsel, 3401 Ryan Street, Suite 307, P.O. Box 4272, Lake Charles, Louisiana 70605/70606.
SECTION 4. The Calcasieu Parish School Board hereby adopts the Notice of Bond Sale contained in Section 3 hereof as the official Notice of Bond Sale, which shall be sent to persons who seek further information with respect to the Bonds and which will form part of the contract of sale of the Bonds.
SECTION 5. The Calcasieu Parish School Board hereby adopts the following as an official bid form for the Series A Bonds, which shall be used by prospective bidders for the Bonds described herein, and which shall be supplied to all persons seeking information with respect to the Bonds:
We offer to purchase TEN MILLION AND NO/100 ($10,000,000) DOLLARS General Obligation Public School Improvement Bonds of School District No. 34 of Calcasieu Parish, Louisiana, 2002 Series A, in the initial denominations of one Bond for each maturity, with transfers in multiples of $5,000.00, bearing interest payable semi-annually on May 1 and November 1 of each year, beginning May 1, 2003, 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
(Nov. 1) ANNUM (Nov. 1) ANNUM
2003 300,000 _____% 2013 490,000 _____%
2004 320,000 _____% 2014 520,000 _____%
2005 335,000 _____% 2015 540,000 _____%
2006 350,000 _____% 2016 570,000 _____%
2007 365,000 _____% 2017 600,000 _____%
2008 385,000 _____% 2018 630,000 _____%
2009 405,000 _____% 2019 660,000 _____%
2010 430,000 _____% 2020 695,000 _____%
2011 445,000 _____% 2021 725,000 _____%
2012 470,000 _____% 2022 765,000 _____%
We will pay the principal sum of TEN MILLION AND NO/100 ($10,000,000) DOLLARS, together with accrued interest from the date of the Bonds to the date of delivery, plus a premium in the amount of $_________________.
For your information, we calculate the lowest effective interest rate to School District No. 34 to be %, 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 November 26, 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. 34 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) drawn on of , in the amount of TWO HUNDRED THOUSAND AND NO/100 ($200,000.00) 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. 34 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.
Respectfully submitted,
by:
Authorized Representative
And Associates
Bid accepted by resolution adopted by the Calcasieu Parish School Board, as governing authority of School District No. 34 of Calcasieu Parish, Louisiana, on this 15th day of October, 2002.
PRESIDENT
Calcasieu Parish School Board
SECTION 6. The Calcasieu Parish School Board hereby adopts the following as an official bid form for the Series B Bonds, which shall be used by prospective bidders for the Bonds described herein, and which shall be supplied to all persons seeking information with respect to the Bonds:
We offer to purchase ONE MILLION SEVEN HUNDRED FIFTY THOUSAND AND NO/100 ($1,750,000) DOLLARS General Obligation Public School Improvement Bonds of School District No. 34 of Calcasieu Parish, Louisiana, 2002 Series B, in the initial denominations of one Bond for each maturity, with transfers in multiples of $5,000.00, bearing interest payable semi-annually on May 1 and November 1 of each year, beginning May 1, 2003, 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
(Nov. 1) ANNUM (Nov. 1) ANNUM
2003 55,000 _____% 2013 85,000 _____%
2004 55,000 _____% 2014 95,000 _____%
2005 55,000 _____% 2015 95,000 _____%
2006 65,000 _____% 2016 100,000 _____%
2007 65,000 _____% 2017 105,000 _____%
2008 65,000 _____% 2018 110,000 _____%
2009 70,000 _____% 2019 115,000 _____%
2010 75,000 _____% 2020 120,000 _____%
2011 80,000 _____% 2021 125,000 _____%
2012 80,000 _____% 2022 135,000 _____%
We will pay the principal sum of ONE MILLION SEVEN HUNDRED FIFTY THOUSAND AND NO/100 ($1,750,000) DOLLARS, together with accrued interest from the date of the Bonds to the date of delivery, plus a premium in the amount of $_________________.
For your information, we calculate the lowest effective interest rate to School District No. 34 to be %, 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 November 26, 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. 34 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) drawn on of , in the amount of THIRTY-FIVE THOUSAND AND NO/100 ($35,000.00) 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. 34 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.
Respectfully submitted,
by:
Authorized Representative
And Associates
Bid accepted by resolution adopted by the Calcasieu Parish School Board, as governing authority of School District No. 34 of Calcasieu Parish, Louisiana, on this 15th day of October, 2002.
PRESIDENT
Calcasieu Parish School Board
SECTION 7. There is hereby delegated to the Chief Financial Officer authority to designate the form of the Preliminary Official Statement, with such revisions, additions and appendices thereto as he may deem necessary, in his discretion, as the “near final official statement” within the meaning of Rule 15c2-12 of the Securities and Exchange Commission (the “Rule”). Such form, when so approved by the Chief Financial Officer, is hereby authorized to be distributed to prospective purchasers of the Bonds.
SECTION 8. The Official Statement shall describe the final terms of the Bonds approved by the resolution of the Calcasieu Parish School Board authorizing issuance thereof and shall constitute the “final official statement” within the meaning of the Rule.
SECTION 9. All actions heretofore taken by the Calcasieu Parish School Board and by the officers thereof or on their behalf, not inconsistent herewith directed toward preparation and delivery of the Preliminary Official Statement are hereby ratified, approved and confirmed.
SECTION 10. The preliminary draft of the Official Statement (a copy of which is on file in the office of the Superintendent of Schools of Calcasieu Parish) is hereby approved and adopted and copies thereof shall be distributed to prospective bidders for the Bonds.
SECTION 11. By the passage of this resolution, the Board does not intend to approve, nor is it approving hereby, any matters otherwise relating to execution and issuance of the Bonds.
SECTION 12. If any paragraph, clause, section or provision of this resolution is judicially adjudged invalid or unenforceable, such judgement shall not affect, impair or invalidate the remaining paragraphs, clauses, sections or provisions hereof.