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, December 13, 2005, 4:45 p.m. The meeting was called to order by Joe Andrepont, President. The prayer was led by Sheral LaVergne; Billy Breaux led the Pledge of Allegiance.
ROLL CALL
The roll was called and the following members were present:
Joe A. Andrepont, Dale B. Bernard, Billy Breaux, Clara F. Duhon, Jay L. Duhon, John M. Falgout, Rev. J.L. Franklin, James W. Karr, Sr., Bryan LaRocque, Sheral A. LaVergne, James W. Pitre, Gregory P. Robert, Dr. Edward Stephens, Philip Tarver and R.L. Webb.
MINUTES APPROVED
On motion by Mr. Karr, seconded by Mr. Duhon and unanimously carried, the minutes of the regular meeting of November 1, 2005, were approved as presented.
Supplemental Agenda
By general consent the Supplemental Agenda was included as part of the regular agenda.
By general consent Items VII E-H were placed prior to presentations.
Proces Verbal and Promulgation of Election in School District Number 26
On motion by Mr. Duhon, seconded by Mr. Breaux and carried, the following was approved:
SEQ CHAPTER \h \r 1 Lake Charles, Louisiana
December 13, 2005
The Parish School Board of Calcasieu Parish, Louisiana, governing authority of School District No. 26 of Calcasieu Parish, Louisiana, met in regular public session at 4:45 o’clock p.m. on Tuesday, December 13, 2005, 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.
President, Joe A. Andrepont, called the meeting to order and on roll call, the following members were present:
Joe A. Andrepont, Dale B. Bernard, Billy Breaux, Clara F. Duhon, Jay L. Duhon, John M. Falgout, Rev. J. L. Franklin, James W. Karr, Sr., Bryan LaRocque, Sheral A. LaVergne, James W. Pitre, Gregory P. Robert, Dr. Edward Stephens, Phillip Tarver, and R. W. Webb
ABSENT: None
The meeting was called to order and the roll called with the above results.
The President of the Board stated that one purpose of the meeting was for canvassing and tabulating the returns of an election held in School District No. 26 of Calcasieu Parish, Louisiana (the “District”) on November 12, 2005, on the question of incurring debt and issuing bonds in an amount not exceeding $4,400,000, which bonds are to be retired with, paid from and secured by ad valorem taxes on all taxable property within the District, and thereupon presented the following proces verbal, which was adopted by the following vote:
YEAS: Mr. Bernard, Mr. Breaux, Mrs. Duhon, Mr. Duhon, Mr. Falgout, Rev. Franklin, Mr. Karr, Mr. LaRocque, Ms. LaVergne, Mr. Pitre, Mr. Robert, Dr. Stephens, Mr. Tarver, and Mr. Webb
NAYS: None
PROCES VERBAL
BE IT KNOWN AND REMEMBERED that on this 13th day of December, 2005, at 4:45 o’clock p.m., in accordance with a resolution of the Calcasieu Parish School Board (the “Board”), governing authority of School District No. 26 of Calcasieu Parish, Louisiana, adopted on August 16, 2005, and recorded in the records of said Board, notice of which meeting was issued and published according to law, the undersigned members of the Board, being a quorum thereof, met at the regular meeting place of the Board, and according to law examined the tabulation blanks, certificates and statements which were received from the Commissioners and Commissioners-in-Charge of the election held in School District No. 26 of Calcasieu Parish, Louisiana on November 12, 2005, in accordance with said resolution, together with the transcription of the totals made by the Clerk of Court and Ex-Officio Parish Custodian of Voting Machines in and for Calcasieu Parish to determine the following proposition:
BOND PROPOSITION
SUMMARY: AUTHORITY FOR SCHOOL DISTRICT NO. 26 OF CALCASIEU PARISH, LOUISIANA, TO ISSUE NOT EXCEEDING $4,400,000 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. 26 of Calcasieu Parish, Louisiana, incur debt and issue bonds in an amount not exceeding $4,400,000 for a period not to exceed twenty (20) years from the date thereof, with interest at a rate not exceeding eight (8%) 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. 26 of Calcasieu Parish, Louisiana, sufficient in rate and amount to pay said bonds in principal and interest?
The results of said election proved to be as follows:
NUMBER OF VOTES IN NUMBER OF VOTES
PRECINCT FAVOR OF PROPOSITION AGAINST ROPOSITION
460W (Part) 3 1
469 (Part) 8 4
561 (Part) 5 0
562 (Part) 6 9
700 50 14
701 36 9
702 62 37
703 38 20
760 39 21
761 39 30
762 (Part) 10 10
Absentees 5 3
TOTALS 301 158
We therefore ascertained that the majority of qualified electors of School District No. 26 of Calcasieu Parish, Louisiana qualified to vote under the Constitution and laws of the State of Louisiana voting in said election in the District voted in favor of the Bond Proposition.
At the same time and place, we did examine and canvass the returns as evidenced by said tabulation blanks, certificates, and statements received from the election Commissioners and Commissioners-in-Charge, the correctness of which were sworn to by the election Commissioners-in-Charge and Commissioners according to law, and our finding was that the returns indicated a majority voted in favor of said proposition.
Therefore, we declare that the result of said election is in favor of the Bond Proposition as stated above.
In accordance with law, a resolution promulgating the aforesaid results was adopted, and the Secretary of the Board was ordered to have a copy of said resolution signed by the President and published in one issue of the Lake Charles American Press, a newspaper published in Calcasieu Parish and of general circulation in said School District No. 26.
We did, likewise, order that one copy of this proces verbal be sent to the Secretary of State to be recorded in the archives of the State of Louisiana, and that one copy be sent to the Clerk of the District Court of Calcasieu Parish to be recorded in the mortgage records of said Parish and that one copy be filed in the archives of this Board.
THUS DONE AND SIGNED in the presence of and , competent witnesses and qualified voters of Calcasieu Parish on this 13th day of December, 2005, at a special meeting of the Board in Lake Charles, Louisiana, by the undersigned members of said Board present and participating in the canvass of said election.
WITNESSES:
, President
,V. President
, Member
, Member
, Member
, Member
, Member
, Member
, Member
, Member
, Member
, Member
, Member
, Member
, Member
RESOLUTION
A RESOLUTION PROMULGATING THE RESULTS OF A SPECIAL ELECTION HELD IN SCHOOL DISTRICT NO. 26 OF CALCASIEU PARISH, LOUISIANA ON NOVEMBER 12, 2005.
WHEREAS, on November 12, 2005, an election was held in School District No. 26 of Calcasieu Parish, Louisiana, to determine the proposition hereinafter set out;
WHEREAS, the returns of said election were canvassed by the Board according to law and notice duly given as provided by law, and the result of said election was declared to be in favor of proposition;
NOW, THEREFORE, BE IT RESOLVED by the Calcasieu Parish School Board, the governing authority of School District No. 26 of Calcasieu Parish, Louisiana, as follows:
SECTION 1. An election was held in School District No. 26 of Calcasieu Parish, Louisiana, on November 12, 2005, to determine the proposition hereinafter set out; that said election was duly and properly called by the Board by a resolution adopted on August 16, 2005 and recorded in the records of said Board, that notice of said election embracing all matters required by law to be contained therein was given by publication in the Lake Charles American Press, a newspaper published in Lake Charles, Louisiana, and of general circulation in School District No. 26, on September 7, September 14, September 21, October 13, October 20, October 27, and November 3, 2005, the first of said publications being not less than 45 days nor more than 90 days prior to the date set for said election; that this Board did in said resolution designate the polling places for said election and did provide for the use of voting machines in the conduct of said election; that election officials were duly selected; that each election official received the certificate of instruction of the use of the voting machines and his duties in connection therewith as required by law; that the State Custodian of Voting Machines and the Clerk of Court and Ex-Officio Parish Custodian of Voting Machines of Calcasieu Parish made available on the day of the election at the polling places designated for the conduct of said election the necessary voting machines and all necessary equipment and paraphernalia required by law in connection with the use of voting machines at elections; that the Registrar of Voters and the Clerk of Court of Calcasieu Parish furnished to the election Commissioners and Commissioners-in-Charge copies of the precinct registers for each precinct or ward entitled to vote at such polling places; that the Louisiana Secretary of State prepared and certified the ballot used in the voting machines as required by law; that the proposition voted on in said election and as it appeared in said voting machine was in due form provided by law and the resolution adopted by this Board on August 16, 2005, calling said special election; that the results of said election were written on a large sheet of paper at said polling places, which sheet of paper was signed by each of the election officials designated to conduct such election at said polling places and which sheet was thereupon posted in public view at the polling places in accordance with law; that only qualified electors under the Constitution and laws of the State of Louisiana voted at said election; that the officials who served at said election were duly and properly appointed; that the places of all absent election officials were properly filled in accordance with law; that before opening the polls all election officials were properly sworn in accordance with law; that the polls at the voting places were opened at 6:00 a.m. and remained open and until not later than 8:00 p.m.; that after the closing of the polls the votes for and against the proposition were properly counted and tallied and the necessary tabulation blanks, certificates and statements were made by the election officials in accordance with law and the voting machines delivered to the Clerk of Court and Ex-Officio Custodian of Voting Machines in and for Calcasieu Parish, Louisiana, and a copy of the results of said election delivered to the Clerk of the District Court of Calcasieu Parish as required by Louisiana Revised Statutes 18:1190 E; that on November 15, 2005, that being the third day after said election the Clerk of Court and Ex-Officio Custodian of Voting Machines, after breaking the seals and opening the voting machines used in said election did transcript the totals for the proposition voted upon at said election; and that all things whatsoever required by law to be done in connection with the holding of said election were properly and duly performed in manner and form as required by Chapter 4 of Subtitle II of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and the general election laws of the State of Louisiana.
SECTION 2. In said election the following proposition was approved by a majority of the electors qualified to vote and voting in said election in School District No. 26 of Calcasieu Parish, Louisiana:
BOND PROPOSITION
SUMMARY: AUTHORITY FOR SCHOOL DISTRICT NO. 26 OF CALCASIEU PARISH, LOUISIANA, TO ISSUE NOT EXCEEDING $4,400,000 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. 26 of Calcasieu Parish, Louisiana, incur debt and issue bonds in an amount not exceeding $4,400,000 for a period not to exceed twenty (20) years from the date thereof, with interest at a rate not exceeding eight (8%) 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. 26 of Calcasieu Parish, Louisiana, sufficient in rate and amount to pay said bonds in principal and interest?
SECTION 3. The results of said election shall be promulgated by publication of this resolution of promulgation one time in the Lake Charles American Press, a newspaper published in Lake Charles, Louisiana, the official journal of the Board and of general circulation in School District No. 26.
ADOPTED AND APPROVED this 13th day of December, 2005.
/s/ Joe A. Andrepont
JOE A. ANDREPONT, President
Calcasieu Parish School Board
ATTEST:
/s/ Jude W. Theriot
JUDE W. THERIOT, Secretary
Calcasieu Parish School Board
STATE OF LOUISIANA
PARISH OF CALCASIEU
I, JUDE W. THERIOT, 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. 26 of Calcasieu Parish, Louisiana.
I further certify that the above and 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 13, 2005, 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 the Calcasieu Parish School Board on this 13th day of December, 2005.
JUDE W. THERIOT, Secretary
Authorize Advertisement for Sale of Bonds for School District Number 26
On motion by Mr. Duhon, seconded by Mrs. Duhon and carried, the following was approved:
RESOLUTION
A RESOLUTION AUTHORIZING ADVERTISEMENT FOR SALE OF $2,845,000 GENERAL OBLIGATION PUBLIC SCHOOL IMPROVEMENT BONDS OF SCHOOL DISTRICT NO. 26 OF CALCASIEU PARISH, LOUISIANA, 2006 SERIES.
BE IT RESOLVED by the Parish School Board of Calcasieu Parish, Louisiana, the governing authority of School District No. 26 of Calcasieu Parish, Louisiana as follows:
SECTION 1. $2,845,000 General Obligation Public School Improvement Bonds of School District No. 26 of Calcasieu Parish, Louisiana, 2006 Series (the “Bonds”), authorized by an election held in School District No. 26 on November 12, 2005, 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 January 17, 2006, at 4:45 o’clock p.m. Central Standard (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 Lake Charles American Press, a newspaper published in Lake Charles, Calcasieu Parish, Louisiana, and of general circulation in School District No. 26 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
$2,845,000
GENERAL OBLIGATION PUBLIC SCHOOL IMPROVEMENT BONDS
OF SCHOOL DISTRICT NO. 26 OF
CALCASIEU PARISH, LOUISIANA
2006 SERIES
SEALED BIDS will be received by the Calcasieu Parish School Board, acting as the governing authority of School District No. 26 of Calcasieu Parish, Louisiana (the “Issuer”), at the Parish School Board Office at 1732 Kirkman Street, Lake Charles, Louisiana, until 4:45 o’clock p.m., Central Standard (Louisiana) Time, on Tuesday, the 24TH DAY OF JANUARY, 2006, for the purchase of the following issue or issues of Bonds of School District No. 26 of Calcasieu Parish, Louisiana (the “Bonds”), authorized at a special election held within the Issuer on Saturday, November 12, 2005:
$2,845,000 (being part of an authorized issue of $4,400,000) General Obligation Public School Improvement Bonds, 2006 Series, maturing February 15 in each year in the principal amount as set forth opposite such year in the following table:
YEAR AMOUNT YEAR AMOUNT
2007 80,000.00 2017 140,000.00
2008 90,000.00 2018 145,000.00
2009 90,000.00 2019 155,000.00
2010 95,000.00 2020 165,000.00
2011 100,000.00 2021 175,000.00
2012 105,000.00 2022 180,000.00
2013 115,000.00 2023 195,000.00
2014 120,000.00 2024 200,000.00
2015 125,000.00 2025 215,000.00
2016 130,000.00 2026 225,000.00
The Bonds will be in fully registered form, dated February 15, 2006, 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 eight (8%) percent per annum on any Bond in any interest payment period, said interest to be payable semi-annually on February 15 and August 15 of each year, beginning February 15, 2007.
Those Bonds maturing in the years 2007 to 2011, inclusive, shall not be subject to redemption prior to maturity. Those Bonds, or portions thereof in multiples of $5,000, maturing in the years 2012 to 2026, 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 February 15, 2011, at par and accrued interest to the date fixed for redemption.
The Bonds will be payable at Argent Trust, a Division of National Independent Trust Company, in the city of Ruston, Louisiana.
A certified or cashier’s check in the amount of $56,900.00 drawn on an incorporated bank or trust company and payable to the order of School District No. 26 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 eight (8%) 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 February 15, 2006 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 forty-eight 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, A Professional Corporation, 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, A Professional Corporation, 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 Karl Bruchhaus, Chief Financial Officer of the Calcasieu Parish School Board, 1724 Kirkman Street, Lake Charles, Louisiana 70601; or Joseph A. Delafield, A Professional Corporation, 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 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 TWO MILLION EIGHT HUNDRED FORTY-FIVE THOUSAND AND NO/100 ($2,845,000) DOLLARS General Obligation Public School Improvement Bonds of School District No. 26 of Calcasieu Parish, Louisiana, 2006 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 February 15 and August 15 of each year, beginning February 15, 2007, 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
(Feb. 15) ANNUM (Feb. 15) ANNUM
2007 80,000.00 _____% 2017 140,000.00 _____%
2008 90,000.00 _____% 2018 145,000.00 _____%
2009 90,000.00 _____% 2019 155,000.00 _____%
2010 95,000.00 _____% 2020 165,000.00 _____%
2011 100,000.00 _____% 2021 175,000.00 _____%
2012 105,000.00 _____% 2022 180,000.00 _____%
2013 115,000.00 _____% 2023 195,000.00 _____%
2014 120,000.00 _____% 2024 200,000.00 _____%
2015 125,000.00 _____% 2025 215,000.00 _____%
2016 130,000.00 _____% 2026 225,000.00 _____%
We will pay the principal sum of TWO MILLION EIGHT HUNDRED FORTY-FIVE THOUSAND AND NO/100 ($2,845,000) 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. 26 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 February 23, 2006 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. 26 will furnish to us, free of charge, at the time of delivery of the Bonds, the qualified approving legal opinion of Joseph A. Delafield, A Professional Corporation, 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 FIFTY-SIX THOUSAND NINE HUNDRED AND NO/100 ($56,900.00) 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. 26 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 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. 26 of Calcasieu Parish, Louisiana, on this 24th day of January, 2006.
PRESIDENT
Calcasieu Parish School Board
SECTION 6. All resolutions and orders or parts thereof in conflict herewith be and the same are hereby repealed.
APPROVED AND ADOPTED this 13th day of December, 2005.
/s/ Joe A. Andrepont JOE A. ANDREPONT, President
Calcasieu Parish School Board
ATTEST:
/s/ Jude W. Theriot
JUDE W. THERIOT, Secretary
Preliminary Official Statement for School District Number 26
On motion by Mr. Duhon, seconded by Mr. Breaux and carried, the following was approved:
RESOLUTION
A RESOLUTION ADOPTING THE PRELIMINARY DRAFT OF THE OFFICIAL STATEMENT TO BE PROVIDED THE INITIAL PURCHASER(S) OF $4,400,000 GENERAL OBLIGATION PUBLIC SCHOOL IMPROVEMENT BONDS OF SCHOOL DISTRICT NO. 26 OF CALCASIEU PARISH, LOUISIANA, 2006 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.
WHEREAS, on November 12, 2005, an election was held in School District No. 26 of Calcasieu Parish, Louisiana, at which election the voters of School District No. 26 of Calcasieu Parish authorized said District to incur debt and issue bonds in an amount not to exceed $2,845,000, to run not to exceed twenty (20) years from the date thereof, with interest at a rate not exceeding eight (8%) percent per annum for the purpose of improving school buildings and acquiring the necessary equipment and furnishings therefor, title to which shall be in the public; and
WHEREAS, the sale of the 2006 Series of the Bonds in the principal amount of $2,845,000 will be held on January 24, 2006; and
WHEREAS, the Calcasieu Parish School Board must distribute to prospective bidders for the initial sale of the Bonds certain information to aid and assist those persons or institutions interested in bidding for the Bonds, in the form of a Preliminary Official Statement;
WHEREAS, an Official Statement must be provided to the successful bidder (initial purchaser of the Bonds) by the Calcasieu Parish School Board, which said Official Statement must contain not only all of the pertinent information which a prospective bidder requires but also information not yet available; and
WHEREAS, it is necessary or desirable to designate by resolution, (i) the Preliminary Official Statement as the “near final official statement” within the meaning of Rule 15c2-12 of the Securities and Exchange Commission (the “Rule”) and to approve the form and distribution thereof, and (ii) the individual who, for and on behalf of this Board and School District No. 26, would make such a decision.
NOW THEREFORE, BE IT RESOLVED by the Parish School Board of Calcasieu Parish, Louisiana, as the governing authority of School District No. 26 of Calcasieu Parish, Louisiana as follows:
SECTION 1. Approval and Designation. 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 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 2. Final Official Statement. 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 3. Ratification. 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 4. The Preliminary Official Statement. 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 5. Other Matters. 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 6. Severability. If any paragraph, clause, section or provision of this resolution is judicially adjudged invalid or unenforceable, such judgment shall not affect, impair or invalidate the remaining paragraphs, clauses, sections or provisions hereof.
SECTION 7. Repealer. All resolutions, ordinances, or orders in conflict herewith, be, to the extent of such conflict, and they are hereby repealed.
APPROVED AND ADOPTED this 13th day of December, 2005.
/s/ Joe A. Andrepont JOE A. ANDREPONT, President
Calcasieu Parish School Board
ATTEST:
/s/ Jude W. Theriot
JUDE W. THERIOT, Secretary
(Other business not pertinent to the above appears in the minutes of the meeting.)
Pursuant to motion duly made and carried, the Parish School Board adjourned.
/s/ Joe A Andrepont
JOE A. ANDREPONT, President
Calcasieu Parish School Board
ATTEST:
/s/ Jude W. Theriot
JUDE W. THERIOT, Secretary
STATE OF LOUISIANA
PARISH OF CALCASIEU
I, JUDE W. THERIOT, do hereby certify that I am the duly qualified and appointed Secretary of the Calcasieu Parish School Board, the governing authority of School District No. 26 of Calcasieu Parish, Louisiana.
I further certify that the above and foregoing is a true and correct copy of an excerpt from the minutes of a meeting of the Calcasieu Parish School Board held on December 13, 2005, insofar as said minutes pertain to the matters therein set out, and that the foregoing resolutions are true and correct copies of the original resolutions adopted at said meeting as they appear officially of record in my possession.
IN WITNESS WHEREOF, witness my official signature and the impress of the official seal of the Calcasieu Parish School Board, governing authority of School District No. 26 of Calcasieu Parish, Louisiana, on this 13th day of December, 2005.
______________________________________
JUDE W. THERIOT, Secretary
Authorization for Participation in Qualified Zone Academy Bond (QZAB) Program
On motion by Ms. LaVergne, seconded by Mr. Bernard and carried, the following was approved:
RESOLUTION
A RESOLUTION GIVING APPROVAL TO ISSUANCE OF NOT EXCEEDING NINE MILLION DOLLARS ($9,000,000) OF QUALIFIED ZONE ACADEMY BONDS PROGRAM (TAXABLE CERTIFICATES OF INDEBTEDNESS), SERIES 2005 (THE “CERTIFICATES”), OF THE CALCASIEU PARISH SCHOOL BOARD, STATE OF LOUISIANA; ESTABLISHING ONE OR MORE QUALIFIED ZONE ACADEMIES; ADOPTING ONE OR MORE COMPREHENSIVE EDUCATION PLANS; PROVIDING CERTAIN TERMS OF SAID CERTIFICATES; MAKING APPLICATION TO THE STATE BOND COMMISSIO