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DATE, TIME, PLACE OF MEETING
The Calcasieu Parish School Board met in the Board Room of the Calcasieu Parish School Board, located at 3310 Broad Street, Lake Charles, Louisiana, 70615, on Thursday, December 17, 2009 at 10:00 a.m. The meeting was called to order by Joe Andrepont, Vice President. The prayer was led by Bryan LaRocque. The Pledge of Allegiance was led by Chad Guidry.
ROLL CALL
The roll was called and the following members were present: Joe Andrepont, Annette Ballard, Dale Bernard, Billy Breaux, Randy Burleigh, Mack Dellafosse, Clara Duhon, Chad Guidry, Fred Hardy, James Karr, Bryan LaRocque, and R.L. Webb.
Bill Jongbloed, James Pitre, Elray Victorian were absent.
TAKE APPROPRIATE ACTION
Attorney Jay Delafield presented the following:
A. Supplemental Bond Resolution/District 23 SEQ CHAPTER \h \r 1 Lake Charles, Louisiana December 17, 2009
The Calcasieu Parish School Board, State of Louisiana, met in special session at its regular meeting place in the Calcasieu Parish School Board Office, 3310 Broad Street, Lake Charles, Louisiana, at 10:00 o’clock a.m. on December 17, 2009, pursuant to written notice given to each and every member thereof and duly posted in the manner required by law.
Vice President, Joe A. Andrepont, called the meeting to order and on roll call, the following members were present:
Joe A. Andrepont, Annette Ballard, Dale B. Bernard, Billy Breaux, Randall Burleigh, Mack Dellafosse, Clara Duhon, Chad Guidry, Fredman Hardy, James W. Karr, Sr., Bryan LaRocque, and R. L. Webb
ABSENT: Bill Jongbloed, James W. Pitre, and Elray Victorian
Wayne R. Savoy, Board Secretary, also attended. The meeting was called to order and the roll called with the above results.
Thereupon, the following resolution was then introduced, and pursuant to motion made by Mr. Breaux and seconded by Mrs. Duhon, was adopted by the following vote:
YEAS: Mrs. Ballard, Mr. Bernard, Mr. Breaux, Mr. Burleigh, Mr. Dellafosse, Mrs. Duhon, Mr. Guidry, Mr. Hardy, Mr. Karr, Mr. LaRocque, and Mr. Webb
NAYS: None
ABSENT: Mr. Jongbloed, Mr. Pitre, and Mr. Victorian
NOT VOTING: Mr. Andrepont
SUPPLEMENTAL BOND RESOLUTION
SUPPLEMENTAL RESOLUTION AMENDING AND SUPPLEMENTING RESOLUTION ADOPTED ON NOVEMBER 3, 2009; AUTHORIZING AND PROVIDING FOR THE ISSUANCE, SALE AND DELIVERY OF SIX MILLION EIGHT HUNDRED FIFTEEN THOUSAND AND NO/100 ($6,815,000) DOLLARS GENERAL OBLIGATION REFUNDING BONDS OF SCHOOL DISTRICT NO. 23 OF CALCASIEU PARISH, LOUISIANA, 2009 SERIES B, PRESCRIBING THE FORM, FIXING THE DETAILS THEREOF, AND PROVIDING FOR THE RIGHTS OF THE OWNERS THEREOF, AND PROVIDING FOR OTHER MATTERS IN CONNECTION THEREWITH.
WHEREAS, School District No. 23 of Calcasieu Parish, Louisiana (the “Issuer”) adopted a resolution on November 3, 2009 (the “Bond Resolution”), authorizing issuance of General Obligation Refunding Bonds of the Issuer to advance refund its outstanding General Obligation Public School Improvement Bonds, 2001 Series, dated August 15, 2001 on original issue (the “Outstanding Bonds”); and
WHEREAS, on December 1, 2009, the Issuer authorized the Chief Financial Officer of the Calcasieu Parish School Board to negotiate the sale of the Bonds at interest rates and terms most advantageous to the Issuer, and to execute a Bond Purchase Agreement with Stephens Inc., under such terms; and
WHEREAS, the Issuer proposes by this Supplemental Bond Resolution to authorize issuance of SIX MILLION EIGHT HUNDRED FIFTEEN THOUSAND AND NO/100 ($6,815,000) DOLLARS principal amount of its General Obligation Refunding Bonds, 2009 Series B (the “Bonds”), and to approve and ratify the actions of the Chief Financial Officer in negotiating the interest rates and terms of the Bonds issued under the Bond Resolution and hereunder, and to specify the terms and conditions of the Bonds;
NOW, THEREFORE, BE IT RESOLVED by the Calcasieu Parish School Board, State of Louisiana, acting as the governing authority of School District No. 23 of Calcasieu Parish, Louisiana, that:
SECTION 1. The actions of the Chief Financial Officer of the Calcasieu Parish School Board in negotiating the terms of the Bonds are hereby in all respects ratified, approved and confirmed.
SECTION 2. There is hereby authorized issuance of SIX MILLION EIGHT HUNDRED FIFTEEN THOUSAND AND NO/100 DOLLARS ($6,815,000) principal amount of Bonds to be designated “General Obligation Refunding Bonds of School District No. 23 of Calcasieu Parish, Louisiana, 2009 Series B,” for the purpose of advance refunding the Outstanding Bonds.
SECTION 3. The Bonds shall be dated December 31, 2009, the date of delivery thereof, shall bear interest payable on February 15 and August 15 of each year, commencing August 15, 2010, and shall mature on August 15 in the years and in the principal amounts set forth below:
DATE PRINCIPAL INTEREST DATE PRINCIPAL INTEREST (Aug. 15) PAYMENT RATE (Aug. 15) PAYMENT RATE 2010 145,000 2.00% 2016 640,000 4.00% 2011 50,000 2.00% 2017 670,000 4.00% 2012 540,000 3.00% 2018 705,000 4.00% 2013 560,000 3.00% 2019 730,000 4.00% 2014 590,000 3.00% 2020 770,000 4.00% 2015 605,000 4.00% 2021 810,000 4.00%
SECTION 4. Those Bonds maturing August 15, 2020 and thereafter, shall be callable for redemption at the option of the Issuer prior to their stated maturities, in full at any time on or after August 15, 2019, 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 August 15, 2019, at a redemption price of 100% of the principal amount of each Bond redeemed, together with accrued interest to the date fixed for redemption.
In the event a Bond to be redeemed is of a denomination larger than $5,000, a portion of such Bond ($5,000 or any multiple thereof) may be redeemed. Any Bond which is to be redeemed only in part shall be surrendered at the principal corporate trust office of the Paying Agent and there shall be delivered to the Owner of such Bond, a 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 of the Bond so surrendered.
SECTION 5. The Issuer has determined, and the Bonds are hereby designated as “qualified tax-exempt obligations” within the meaning of section 265(b)(3) of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations promulgated thereunder.
SECTION 6. The sale of the Bonds to Stephens Inc., Little Rock, Arkansas, at a price of $7,060,197.30, representing $6,815,000 par amount, plus $292,902.30 of Reoffering Premium, less $47,7405.00 Underwriters’s Discount, and under the terms and conditions set forth in the Bond Purchase Agreement dated December 14, 2009, is hereby ratified and confirmed.
SECTION 7. A copy of this Supplemental Resolution shall be published immediately after its adoption in the Lake Charles American Press, a newspaper published daily in the city of Lake Charles, Louisiana, and of general circulation in the Issuer, being the official journal of the Issuer.
SECTION 8. This Supplemental Resolution shall take effect immediately. All resolutions in conflict herewith be, to the extent of such conflict, and the same are hereby repealed.
ADOPTED AND APPROVED on this 17th day of December, 2009.
/s/ Elray Victorian Elray Victorian, President
/s/ Wayne R. Savoy WAYNE R. SAVOY, Secretary
(Other business not pertinent to the present excerpt may be found of record in the official minute book.)
Upon motion duly made and unanimously carried, the meeting was adjourned.
/s/Elray Victorian Elray Victorian, President
/s/ Wayne R. Savoy WAYNE R. SAVOY, Secretary
STATE OF LOUISIANA
PARISH OF CALCASIEU
I, WAYNE R. SAVOY, certify that I am the duly qualified and acting Superintendent of Public Schools for the Parish of Calcasieu, Louisiana, and as such, Ex-Officio Secretary of the Calcasieu Parish School Board, governing authority of School District No. 23 of Calcasieu Parish,
I further certify that the foregoing is a true and correct copy of an excerpt from the minutes of a public meeting of the Calcasieu Parish School Board, held on December 17, 2009, and of a resolution adopted at said meeting, as said minutes and resolution appear officially of record in my possession.
IN FAITH WHEREOF, witness my official signature and the impress of the official seal of School District No. 23 of Calcasieu Parish, Louisiana, on this, the 17th day of December, 2009.
_________________________________
WAYNE R. SAVOY, Secretary
On a motion to approve by Mr. Breaux and a second by Mrs. Duhon, the motion carried.
B. Supplemental Bond Resolution/District 34
SEQ CHAPTER \h \r 1 Lake Charles, Louisiana December 17, 2009
The Calcasieu Parish School Board, State of Louisiana, met in special session at its regular meeting place in the Calcasieu Parish School Board Office, 3310 Broad Street, Lake Charles, Louisiana, at 10:00 o’clock a.m. on December 17, 2009, pursuant to written notice given to each and every member thereof and duly posted in the manner required by law.
Vice President, Joe A. Andrepont, called the meeting to order and on roll call, the following members were present:
Joe A. Andrepont, Annette Ballard, Dale B. Bernard, Billy Breaux, Randall Burleigh, Mack Dellafosse, Clara Duhon, Chad Guidry, Fredman Hardy, James W. Karr, Sr., Bryan LaRocque, and R. L. Webb
ABSENT: Bill Jongbloed, James W. Pitre, and Elray Victorian
Wayne R. Savoy, Board Secretary, also attended. The meeting was called to order and the roll called with the above results.
Thereupon, the following resolution was then introduced, and pursuant to motion made by Mr. Breaux and seconded by Mrs. Duhon, was adopted by the following vote:
YEAS: Mrs. Ballard, Mr. Bernard, Mr. Breaux, Mr. Burleigh, Mr. Dellafosse, Mrs. Duhon, Mr. Guidry, Mr. Hardy, Mr. Karr, Mr. LaRocque, and Mr. Webb
NAYS: None
ABSENT: Mr. Jongbloed, Mr. Pite, and Mr. Victorian
NOT VOTING: Mr. Andrepont
SUPPLEMENTAL BOND RESOLUTION
SUPPLEMENTAL RESOLUTION AMENDING AND SUPPLEMENTING RESOLUTION ADOPTED ON NOVEMBER 3, 2009; AUTHORIZING AND PROVIDING FOR THE ISSUANCE, SALE AND DELIVERY OF ELEVEN MILLION SEVEN HUNDRED TWENTY-FIVE THOUSAND AND NO/100 ($11,725,000) DOLLARS GENERAL OBLIGATION REFUNDING BONDS OF SCHOOL DISTRICT NO. 34 OF CALCASIEU PARISH, LOUISIANA, 2009 SERIES B, PRESCRIBING THE FORM, FIXING THE DETAILS THEREOF, AND PROVIDING FOR THE RIGHTS OF THE OWNERS THEREOF, AND PROVIDING FOR OTHER MATTERS IN CONNECTION THEREWITH.
WHEREAS, School District No. 34 of Calcasieu Parish, Louisiana (the “Issuer”) adopted a resolution on November 3, 2009 (the “Bond Resolution”), authorizing issuance of General Obligation Refunding Bonds of the Issuer to currently refund its outstanding General Obligation Public School Improvement Bonds, 2005 Series, dated January 15, 2005 on original issue (the “Outstanding Bonds”); and
WHEREAS, on December 1, 2009, the Issuer authorized the Chief Financial Officer of the Calcasieu Parish School Board to negotiate the sale of the Bonds at interest rates and terms most advantageous to the Issuer, and to execute a Bond Purchase Agreement with Stephens Inc., under such terms; and
WHEREAS, the Issuer proposes by this Supplemental Bond Resolution to ratify and approve issuance of ELEVEN MILLION SEVEN HUNDRED TWENTY-FIVE THOUSAND AND NO/100 ($11,725,000) DOLLARS principal amount of its General Obligation Refunding Bonds, 2009 Series B (the “Bonds”), and to approve and ratify the actions of the Chief Financial Officer in negotiating the interest rates and terms of the Bonds issued under the Bond Resolution and hereunder, and to specify the terms and conditions of the Bonds;
NOW, THEREFORE, BE IT RESOLVED by the Calcasieu Parish School Board, State of Louisiana, acting as the governing authority of School District No. 34 of Calcasieu Parish, Louisiana, that:
SECTION 1. The actions of the Chief Financial Officer of the Calcasieu Parish School Board in negotiating the terms of the Bonds are hereby in all respects ratified, approved and confirmed.
SECTION 2. There is hereby authorized issuance of ELEVEN MILLION SEVEN HUNDRED TWENTY-FIVE THOUSAND AND NO/100 DOLLARS ($11,725,000) principal amount of Bonds to be designated “General Obligation Refunding Bonds of School District No. 34 of Calcasieu Parish, Louisiana, 2009 Series B,” for the purpose of advance refunding the Outstanding Bonds.
SECTION 3. The Bonds shall be dated December 31, 2009, the date of delivery thereof, shall bear interest payable on January 15 and July 15 of each year, commencing July 15, 2010, and shall mature on the dates, in the years and in the principal amounts set forth below:
DATE PRINCIPAL INTEREST DATE PRINCIPAL INTEREST PAYMENT RATE PAYMENT RATE 07/15/2010 205,000 2.00% 01/15/2018 760,000 4.00% 01/15/2011 565,000 2.00% 01/15/2019 790,000 4.00% 01/15/2012 580,000 3.00% 01/15/2020 825,000 4.00% 01/15/2013 605,000 3.00% 01/15/2021 865,000 4.00% 01/15/2014 630,000 3.00% 01/15/2022 895,000 4.00% 01/15/2015 660,000 4.00% 01/15/2023 940,000 4.00% 01/15/2016 690,000 4.00% 01/15/2024 975,000 4.00% 01/15/2017 725,000 4.00% 01/15/2025 1,015,000 4.00%
SECTION 4. Those Bonds maturing January 15, 2021 and thereafter, shall be callable for redemption at the option of the Issuer prior to their stated maturities, in full at any time on or after January 15, 2019, 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 January 15, 2019, at a redemption price of 100% of the principal amount of each Bond redeemed, together with accrued interest to the date fixed for redemption. In the event a Bond to be redeemed is of a denomination larger than $5,000, a portion of such Bond ($5,000 or any multiple thereof) may be redeemed. Any Bond which is to be redeemed only in part shall be surrendered at the principal corporate trust office of the Paying Agent and there shall be delivered to the Owner of such Bond, a 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 of the Bond so surrendered.
SECTION 5. The Issuer has determined, and the Bonds are hereby designated as “qualified tax-exempt obligations” within the meaning of section 265(b)(3) of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations promulgated thereunder.
SECTION 6. The sale of the Bonds to Stephens Inc., Little Rock, Arkansas, at a price of $11,984,325.20, representing $11,725,000 par amount, plus $341,400.20 of Reoffering Premium, less $82,075.00 Underwriters’s Discount, and under the terms and conditions set forth in the Bond Purchase Agreement dated December 14, 2009, is hereby ratified and confirmed.
SECTION 7. A copy of this Supplemental Resolution shall be published immediately after its adoption in the Lake Charles American Press, a newspaper published daily in the city of Lake Charles, Louisiana, and of general circulation in the Issuer, being the official journal of the Issuer.
SECTION 8. This Supplemental Resolution shall take effect immediately. All resolutions in conflict herewith be, to the extent of such conflict, and the same are hereby repealed.
ADOPTED AND APPROVED on this 17th day of December, 2009.
/s/ Elray Victorian Elray Victorian, President
/s/ Wayne R. Savoy WAYNE R. SAVOY, Secretary
(Other business not pertinent to the present excerpt may be found of record in the official minute book.)
Upon motion duly made and unanimously carried, the meeting was adjourned.
/s/ Elray Victorian Elray Victorian, President
/s/ Wayne R. Savoy WAYNE R. SAVOY, Secretary
STATE OF LOUISIANA
PARISH OF CALCASIEU
I, WAYNE R. SAVOY, certify that I am the duly qualified and acting Superintendent of Public Schools for the Parish of Calcasieu, Louisiana, and as such, Ex-Officio Secretary of the Calcasieu Parish School Board, governing authority of School District No. 34 of Calcasieu Parish,
I further certify that the foregoing is a true and correct copy of an excerpt from the minutes of a public meeting of the Calcasieu Parish School Board, held on December 17, 2009, and of a resolution adopted at said meeting, as said minutes and resolution appear officially of record in my possession.
IN FAITH WHEREOF, witness my official signature and the impress of the official seal of School District No. 34 of Calcasieu Parish, Louisiana, on this, the 17th day of December, 2009.
_________________________________ WAYNE R. SAVOY, Secretary
On a motion to approve by Mr. Breaux and seconded by Mrs. Duhon, the motion carried.
SUPERINTENDENT’S REPORT
Mr. Savoy gave a brief report to the Board regarding proposed participation in the State Department of Education’s plan, Race to the Top. More information will come before the Board at a later date.
He reported that bus drivers and bus aides collected over $1100 for the KPLC Community Christmas.
Reverend J.L. Franklin spoke in favor of CPSB’s proposed involvement in Race to the Top.
On a motion to adjourn by Mr. Hardy and seconded by Mrs. Duhon, the meeting adjourned at 10:28 a.m.
________________________________ _________________________________ Elray Victorian, President Wayne Savoy, Secretary
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