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, April 8, 2008, 4:45 p.m. The meeting was called to order by Jimmy Pitre, President. The prayer was led by Bill Jongbloed; R.L. Webb led the Pledge of Allegiance.
ROLL CALL
The roll was called and the following members were present:
Joe Andrepont, Dale Bernard, Billy Breaux, Randy Burleigh, Mack Dellafosse, Clara Duhon, Chad Guidry, Fred Hardy, Bill Jongbloed, James Karr, Bryan LaRocque, Jimmy Pitre, Elray Victorian, and R.L. Webb.
Annette Ballard was absent.
MINUTES APPROVED
On a motion by Mr. Andrepont, seconded by Mr. Webb and unanimously carried, the Minutes of the regular meeting of March 4, 2008, were approved as presented.
SUPPLEMENTAL AGENDA
On a motion by Mr. Dellafosse and seconded by Mr. Burleigh, the Supplemental Agenda was included as part of the regular agenda.
Mr. Dellafosse made the motion, seconded by Mr. Burleigh, to change the agenda order so that Mr. Jay Delafield could present the Items IX D, E, F, G. The motion carried.
Mr. Delafield presented the following:
SEQ CHAPTER \h \r 1Lake Charles, Louisiana
April 8, 2008
The Parish School Board of Calcasieu Parish, Louisiana, governing authority of School District No. 21 of Calcasieu Parish, Louisiana, met in regular public session at 4:45 o’clock p.m. on Tuesday, April 8, 2008, 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, James W. Pitre, called the meeting to order and on roll call, the following members were present:
Mr. Webb, Mr. Hardy, Mrs. Duhon, Mr. Bernard, Mr. Jongbloed,, Mr. Dellafosse, Mr. Pitre, Mr. Burleigh, Mr. Karr, Mr. Guidry, Mr. Andrepont, Mr. Breaux, Mr. Victorian, Mr. LaRocque
ABSENT: Mrs. Ballard
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. 21 of Calcasieu Parish, Louisiana (the “District”) on March 8, 2008, on the question of incurring debt and issuing bonds in an amount not exceeding $11,500,000, 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. Andrepont, Mr. Bernard, Mr. Breaux, Mr. Burleigh, Mr. Dellafosse, Mrs. Duhon, Mr. Guidry, Mr. Hardy, Mr. Jongbloed, Mr. Karr, Mr. LaRocque, Mr. Victorian and Mr. Webb
NAYS: None ABSENT:Mrs. Ballard
NOT VOTING: President Pitre
PROCES VERBAL
BE IT KNOWN AND REMEMBERED that on this 8th day of April, 2008, 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. 21 of Calcasieu Parish, Louisiana, adopted on December 4, 2007, 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. 21 of Calcasieu Parish, Louisiana on March 8, 2008, 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. 21 OF CALCASIEU PARISH, LOUISIANA, TO ISSUE NOT EXCEEDING $11,500,000 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. 21 of Calcasieu Parish, Louisiana, incur debt and issue bonds in an amount not exceeding $11,500,000 for a period not to exceed twenty (20) years from the date thereof, with interest at a rate not exceeding nine (9%) 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. 21 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 PROPOSITION
600 87 87
601 64 39
602 88 45
603 30 13
660 117 77
661 (Part) 56 29
662 45 18
663 9 2
664 22 1
Absentees 3 3
TOTALS 521 314
We therefore ascertained that the majority of qualified electors of School District No. 21 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. 21.
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.
The following resolution was thereupon introduced, and pursuant to a motion made by Mr. Karr and seconded by Mr. Webb, was adopted by the following vote:
YEAS: Mr. Andrepont, Mr. Bernard, Mr. Breaux, Mr. Burleigh, Mr. Dellafosse, Mrs. Duhon, Mr. Guidry, Mr. Hardy, Mr. Jongbloed, Mr. Karr, Mr. LaRocque, Mr. Victorian and Mr. Webb
NAYS: None ABSENT:Mrs. Ballard
NOT VOTING: President Pitre
RESOLUTION
A RESOLUTION PROMULGATING THE RESULTS OF A SPECIAL ELECTION HELD IN SCHOOL DISTRICT NO. 21 OF CALCASIEU PARISH, LOUISIANA ON MARCH 8, 2008.
WHEREAS, on March 8, 2008, an election was held in School District No. 21 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. 21 of Calcasieu Parish, Louisiana, as follows:
SECTION 1. An election was held in School District No. 21 of Calcasieu Parish, Louisiana, on March 8, 2008, to determine the proposition hereinafter set out; that said election was duly and properly called by the Board by a resolution adopted on December 4, 2007 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. 21, on January 8, January 15, January 22, and January 29, 2008, 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 December 7, 2007, 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 18:571; that on
March 11, 2008, 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. 21 of Calcasieu Parish, Louisiana:
BOND PROPOSITION
SUMMARY: AUTHORITY FOR SCHOOL DISTRICT NO. 21 OF CALCASIEU PARISH, LOUISIANA, TO ISSUE NOT EXCEEDING $11,500,000 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. 21 of Calcasieu Parish, Louisiana, incur debt and issue bonds in an amount not exceeding $11,500,000 for a period not to exceed twenty (20) years from the date thereof, with interest at a rate not exceeding nine (9%) 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. 21 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. 21.
ADOPTED AND APPROVED this 8th day of April, 2008.
/s/ James W. Pitre
JAMES W. PITRE, President
Calcasieu Parish School Board
ATTEST:
/s/ Wayne R. Savoy
WAYNE R. SAVOY, Secretary
Calcasieu Parish School Board
(Other business not pertinent to the present excerpt may be found of record in the official minute book.)
/s/ James W. Pitre
JAMES W. PITRE, President
Calcasieu Parish School Board
ATTEST:
/s/ Wayne R. Savoy
WAYNE R. SAVOY, Secretary
Calcasieu Parish School Board
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. 21 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 April 8, 2008, 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 8th day of April, 2008.
_________________________________
WAYNE R. SAVOY, Secretary
On a motion to approve by Mr. Karr and seconded by Mr. Webb, the motion carried.
SEQ CHAPTER \h \r 1Lake Charles, Louisiana
April 8, 2008
The Parish School Board of Calcasieu Parish, Louisiana, met in regular public session at 4:45 o’clock p.m. on Tuesday, April 8, 2008, 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, James W. Pitre, called the meeting to order and on roll call, the following members were present:
Joe A. Andrepont, Dale B. Bernard, Billy Breaux, Randall Burleigh, Mack Dellafosse, Clara Duhon, Chad Guidry, Fredman Hardy, Bill Jongbloed, James W. Karr, Sr., Bryan LaRocque, James W. Pitre, Elray Victorian and R. L. Webb
ABSENT: Annette Ballard
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. Karr and seconded by Mr. Hardy, was adopted by the following vote:
YEAS:Mr. Andrepont, Mr. Bernard, Mr. Breaux, Mr. Burleigh, Mr. Dellafosse, Mrs. Duhon, Mr. Guidry, Mr. Hardy, Mr. Jongbloed, Mr. Karr, Mr. LaRocque, Mr. Victorian and Mr. Webb
NAYS:None
ABSENT:Mrs. Ballard
NOT VOTING: President Pitre
RESOLUTION
A RESOLUTION AUTHORIZING ADVERTISEMENT FOR SALE OF $7,500,000 GENERAL OBLIGATION PUBLIC SCHOOL IMPROVEMENT BONDS OF SCHOOL DISTRICT, NO. 21 OF CALCASIEU PARISH, LOUISIANA, 2008 SERIES.
BE IT RESOLVED by the Parish School Board of Calcasieu Parish, Louisiana, the governing authority of School District No. 21 of Calcasieu Parish, Louisiana as follows:
SECTION 1. $7,500,000 General Obligation Public School Improvement Bonds of School District No. 21 of Calcasieu Parish, Louisiana, 2008 Series (the “Bonds”), authorized by an election held in School District No. 21 on March 8, 2008, 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 June 3, 2008, at 4:45 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 Lake Charles American Press, a newspaper published in Lake Charles, Calcasieu Parish, Louisiana, and of general circulation in School District No. 21 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:
OFFICIAL NOTICE OF BOND SALE
$7,500,000
GENERAL OBLIGATION PUBLIC SCHOOL IMPROVEMENT BONDS
OF SCHOOL DISTRICT NO. 21 OF
CALCASIEU PARISH, LOUISIANA
2008 SERIES
SEALED AND ELECTRONIC BIDS will be received, in the case of sealed bids, by the Calcasieu Parish School Board, acting as the governing authority of School District No. 21 of Calcasieu Parish, Louisiana (the “Issuer”), at the Parish School Board Office at 1732 Kirkman Street, Lake Charles, Louisiana, and in the case of electronic bids, via PARITY®, in the manner described below, until 3:30 o’clock p.m., Central Daylight (Louisiana) Time, on Tuesday, the
3rd DAY OF JUNE, 2008,
for the purchase of the following issue of Bonds of School District No. 21 of Calcasieu Parish, Louisiana (the “Bonds”), authorized at a special election held within the Issuer on Saturday, March 8, 2008:
$7,500,000 General Obligation Public School Improvement Bonds, 2008 Series, maturing July 15 in each year in the principal amount as set forth opposite such year in the following table:
YEAR AMOUNT YEAR AMOUNT
2009 225,000.00 2019 370,000.00
2010 240,000.00 2020 385,000.00
2011 250,000.00 2021 410,000.00
2012 265,000.00 2022 425,000.00
2013 275,000.00 2023 450,000.00
2014 290,000.00 2024 470,000.00
2015 300,000.00 2025 495,000.00
2016 320,000.00 2026 520,000.00
2017 335,000.00 2027 545,000.00
2018 355,000.00 2028 575,000.00
Form of Bonds; Interest. The Bonds will be in fully registered form, dated July 15, 2008, 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 January 15 and July 15 of each year, beginning January 15, 2009.
Optional Redemption. Those Bonds maturing in the years 2009 to 2013, inclusive, shall not be subject to redemption prior to maturity. Those Bonds, or portions thereof in multiples of $5,000, maturing in the years 2014 to 2028, 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 July 15, 2013, 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.
Electronic Bidding. Electronic bids will be accepted via PARITY®. No other form of electronic bid will be accepted. To the extent any instructions or directions set forth in PARITY® conflict with this Notice of Sale, the terms of this Notice of Sale shall control. Each bidder electing to submit its bid in electronic form through PARITY® shall be solely responsible for all arrangements with PARITY®. The Issuer is using PARITY® solely as a communication mechanism and not as the Issuer’s agent. All costs and expenses of PARITY® shall be the responsibility of the bidder. The time maintained on PARITY® shall constitute the official time for purposes of electronic bidding. For further information about PARITY® potential bidders may contact PARITY® at 1359 Broadway, New York, New York 10018 (212.849.5021).
Sealed bids will be opened, electronic bids retrieved and all bids publicly announced in the School Board Offices as soon as possible after the deadline for receipt of bids.
Each bidder submitting an electronic bid agrees (i) that it is solely responsible for all arrangements with PARITY®, (ii) that PARITY® is not acting as the agent of the Issuer, and (iii) that the Issuer is not responsible for ensuring or verifying bidder compliance with any of the procedures of PARITY®. The Issuer assumes no responsibility for, and each bidder expressly assumes the risks of and responsibility for, any incomplete, inaccurate or untimely bid submitted by such bidder through PARITY®. Each bidder shall be solely responsible for making necessary arrangements to access PARITY® for purposes of submitting its bid in a timely manner and in compliance with the requirements of this Official Notice of Bond Sale. The Issuer shall have no duty or obligation to provide or assure such access to any bidder, and the Issuer shall not be responsible for proper operation of, or have any liability for, any delays or interruptions of, or any damages caused by PARITY®.
Sealed Paper Bids. Bids will also be accepted in written form on the official bid form furnished by the Issuer without alteration or qualification. Each paper bid must be sealed in an envelope marked “Bid for Purchase of $7,500,000 General Obligation Public School Improvement Bonds of School District No. 21 of Calcasieu Parish, Louisiana, 2008 Series.” Sealed paper bids should be directed to the Superintendent, Calcasieu Parish School Board, 1732 Kirkman Street, Lake Charles, Louisiana 70601. The time maintained on PARITY® shall constitute the official time for purposes of sealed paper bids.
Bid Requirements. Each Bid submitted must be for the entire issue of Bonds, must be unconditional, and must be on the bid form furnished by the Issuer to prospective bidders and available through PARITY® without alteration or qualification. All 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 July 15, 2008 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.
Good Faith Deposit. Each bid must be accompanied by a good faith deposit (the “Deposit”) as follows: (i) a certified or cashier’s check drawn on an incorporated bank or trust company, or (ii) a Financial Surety Bond, in the amount of $150,000.00 made payable to the Issuer must accompany each bid as a guarantee of good faith on the part of the bidder. If a Financial Surety Bond is used, it must be from an insurance company licensed to issue such a bond in the State of Louisiana, and such Financial Surety Bond must be submitted to the Issuer or its Bond Counsel by 9:00 a.m., Central Daylight (Louisiana) Time, on the date of the sale. The Financial Surety Bond must identify each bidder whose Deposit is guaranteed by such Financial Surety Bond. If the Bonds are awarded to a bidder utilizing a Financial Surety Bond, then that purchaser is required to submit its Deposit to the Issuer in the form of a certified or cashier’s check not later than 3:30 p.m., Central Daylight (Louisiana) Time, on the day following the award. If such Deposit is not received by that time, the Financial Surety Bond may be drawn by the Issuer to satisfy the Deposit requirement. Deposits of unsuccessful bidders will be returned promptly, and the Deposit of the successful bidder will be retained and will be returned to the successful bidder or bidders upon payment in full of the purchase price of the Bonds, or in the case of neglect or refusal to comply with such bid, will be forfeited as liquidated damages. No interest will be allowed on the amount of the Deposit.
Method of Award. 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.
Reoffering Prices. It shall be the obligation of the successful bidder to 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 (or if no reoffering of the Bonds is made, a statement of such fact). As a condition to the Issuer’s obligation to deliver the Bonds, and 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”).
Delivery. The Bonds are expected to be delivered on or about July 17, 2008, against payment therefor. Payment of the purchase price of the Bonds shall be in immediately available Federal Funds. The winning bidder will be obligated to accept delivery at any time within sixty (60) days of the date of the sale.
Bond Insurance. 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 its contractual obligations arising from acceptance of its proposal for purchase of the Bonds.
CUSIP Numbers. It is anticipated that CUSIP identification numbers will be printed on the Bonds, but 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 related to the printing of CUSIP identification numbers on the Bonds shall be paid by the Issuer. However, the CUSIP Service Bureau charge for assignment of such numbers shall be the responsibility of and shall be paid by the successful bidder.
Official Statement. 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, Lake Charles, Louisiana 70605, 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.
Legal Opinion. The approving legal opinion of Joseph A. Delafield, A Professional Corporation, 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.
Additional Information. 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, Lake Charles, Louisiana 70605.
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:
OFFICIAL BID FORM
Sealed and electronic bids must be submitted by 3:30 pm Local Time.
School District No. 21 of June 3, 2008
Calcasieu Parish, Louisiana
c/o Calcasieu Parish School Board
Lake Charles, LA 70601
On behalf of the firms listed below and pursuant to the terms and conditions of the Issuer’s Official Notice of Bond Sale and Preliminary Official Statement, all of the terms and conditions of which by reference are made a part hereof, we offer to purchase SEVEN MILLION FIVE HUNDRED THOUSAND AND NO/100 ($7,500,000) DOLLARS General Obligation Public School Improvement Bonds of School District No. 21 of Calcasieu Parish, Louisiana, 2008 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 January 15 and July 15 of each year, beginning January 15, 2009, maturing serially, WITH OPTION OF PRIOR PAYMENT, and bearing interest at rates as follows:
Maturity Interest Maturity Interest per Annum
Date Amount Rate per Annum Date Amount Annum (July 15)
2009 225,000.00 % 2019 370,000.00 %
2010 240,000.00 % 2020 385,000.00 %
2011 250,000.00 % 2021 410,000.00 %
2012 265,000.00 % 2022 425,000.00 %
2013 275,000.00 % 2023 450,000.00 %
2014 290,000.00 % 2024 470,000.00 %
2015 300,000.00 % 2025 495,000.00 %
2016 320,000.00 % 2026 520,000.00 %
2017 335,000.00 % 2027 545,000.00 %
2018 355,000.00 % 2028 575,000.00 %
We will pay the principal sum of SEVEN MILLION FIVE HUNDRED THOUSAND AND NO/100 ($7,500,000) DOLLARS, together with accrued interest from the date of the Bonds to the date of delivery, plus a premium in the amount of $ .
(NOTE: The following is stated for information only and is not part of this bid: the true interest cost of this bid, calculated in accordance with the Official Notice of Bond Sale, is % (to six decimal places).
Please indicate the appropriate choice:
We have posted a surety bond in the amount of $1500,000. If awarded the bid, we will deliver to the Issuer by 3:30 p.m., Local Time, on the next business day immediately following the date of award, a certified or cashier’s check in the amount of $150,000 drawn on an incorporated bank or trust company, or the Issuer will draw upon the surety bond and apply it in accordance with the Official Notice of Bond Sale against any loss resulting from the successful bidder failing to comply with the terms of this bid.
We have previously delivered a certified or cashier’s check for $150,000 drawn upon an incorporated bank or trust company as detailed in the Official Notice of Bond Sale and payable unconditionally to the order of the Issuer, which will be applied in accordance with the Official Notice of Bond Sale against any loss resulting from the successful bidder failing to comply with the terms of this bid.
Deposits of unsuccessful bidders will be returned promptly, and the deposit of the successful bidder will be retained and will be returned to the successful bidder or bidders upon payment in full of the purchase price of the Bonds, or in the case of neglect or refusal to comply with such bid, will be forfeited as liquidated damages. No interest will be allowed on the amount of the deposit.
We acknowledge receipt and review of the Preliminary Official Statement referred to in the Official Notice of Bond Sale, and understand the Bonds will be designated as “qualified tax-exempt obligations” pursuant to Section 265(b)(3)(B) of the Internal Revenue Code of 1986.
Respectfully submitted,
by:
Authorized Representative
And Associates