MINUTES

 

POINTE COUPEE PARISH SCHOOL BOARD

337 Napoleon Street

New Roads, LA 70760

 

REGULAR MEETING

Thursday, December 17, 2009

 

 

President Cline thanked the choir members from Livonia High School for the seasonal songs that they sang prior to the beginning of the December School Board meeting.     

                                                           

The Pointe Coupee Parish School Board met in a regular session on Thursday, December 17, 2009, at 337 Napoleon Street, New Roads, LA.  Mr. James M. Cline, President, called the meeting to order at 5:30 p.m.    

 

Board members present were Chad Aguillard, Frank R. Aguillard, Jr., Brandon Bergeron, James Cline, Debbie Collins, Kevin Hotard, Anita LeJeune, and Thomas A. Nelson.

 

Mr. Frank Aguillard lead the Pledge of Allegiance to the Flag of the United States of America.

 

Mrs. Debbie Collins offered the invocation.

                                                                           - - - -
 

Expression of Sympathy.  On motion by the entire Board and seconded by the entire Board, an expression of sympathy was offered to the families of:

 

Lee Hotard, the mother of Kevin Hotard, School Board Member.

 

Monte Stevens, a first grade student at Valverda Elementary School.

 

Victoria Greenwood, a retired teacher of the Pointe Coupee Parish School Board.

 

Bertell Dixon, the husband of Elmer Gayle Dixon, a teacher at Rosenwald Elementary School, and the brother of Roger Dixon, bus driver.

 

Edward Voltaire, the brother of Helen Kenny, a school food service technician at Rosenwald Elementary School.

 

Mary Rose Swindler, the mother of Sylvester Major Swindler, the principal of Valverda Elementary School.

                                                                           - - - -
 

                                                                  Consent Agenda

 

The following items are considered to be routine and are enacted with one motion. 

 

Mr. Thomas Nelson made a motion, seconded by Mr. Kevin Hotard, to approve the following consent agenda items.  Unanimously carried.

 

 

                                                             End of Consent Agenda

                                                                           - - - -

 

Discussion/Action Regarding Monthly Financial Information.  Jared Gibbs, Chief Financial Officer, provided copies of the following monthly financial information: the reconciled bank statement from Guaranty Bank (11/01/09-11/30/09); the general fund cash account (12/11/09); an outstanding check report; a general fund accounting Statement of Revenue and Expenditures (period ending 11/30/09); Sales & Use Tax Collection Information, MFP Student Membership (12/17/09), as well as Cash (Bank Statement) and other current asset balances ending November 30, 2009; FEMA Revenue to Date ; Bank Account Balances (Reserved Account, General Fund and Capital Outlay), as of December 16, 2009.

 

Mrs. D'Amico mentioned that school systems have timing issues with regard to reimbursement of claims from the DOE. The months of January - March will generate money from ad valorem taxes of which will sustain the system until state/federal funding is received.

 

On a motion by Mr. Frank Aguillard, seconded by Mr. Kevin Hotard, the Board voted unanimously to accept the monthly financial information as presented by Chief Financial Officer Jared Gibbs and Superintendent/Secretary-Treasurer Linda D'Amico.

                                                                           - - - -

 

Committee Meeting Reports. Mr. Kevin Hotard, Finance Committee Chairperson, stated that the Finance Committee would like the Board to seek the option that would give the largest cash distribution (2.5 million) in Quality Construction Bond Funds.  Bonding Attorney Wesley Shafto has been assisting the Pointe Coupee Parish School Board with this endeavor since March 2008.

 

Mr. Brandon Bergeron made a motion to accept the Finance Committee Report, seconded by Mrs. Debbie Collins.  Unanimously carried.

                                                                           - - - -

 

Consider Adoption of a Cooperative Endeavor Agreement with Winning the Battle Ministry.  Mr. Russell Polar, Executive Director of Winning the Battle Ministry, Inc., telephoned to apologize for not being able to attend the December 17, 2009 School Board meeting due to the death of his sister.  It was announced that the Board was requested to come prepared to move forward, or, to put and end to this particular agenda item given the fact that a substantial amount of time and money had been spent regarding the proposed Winning the Battle Cooperative Endeavor Agreement for use of the former School Board Office Property.  Attorney Charles Hardie, of Hammonds & Sills Law Firm, prepared the Cooperative Endeavor Agreement after speaking with Superintendent D'Amico, Mr. Polar, and School Board members.  It was mentioned that a Building and Grounds Committee meeting was scheduled for December 2, 2009, but the Committee did not have a quorum, therefore, it was unfortunate that the Committee could not make a recommendation to the Board.  Mr. Kevin Hotard stated that the Board had originally entertained a motion to enter into an agreement for the rehabilitation program when it was first introduced as a 9:00 a.m. to 5:00 p.m. program.  However, when the dynamics of the program changed to a 90 day in-house treatment center for men that would require building remodeling for sleeping quarters, kitchen enlargement, etc., legal counsel advisement stipulations would need to be considered to protect the School Board's interest.  A copy of the agreement was provided to Board members for their consideration.

 

Mr. Kevin Hotard made a motion, seconded by Mr. Brandon Bergeron, for the School Board not to enter into a Cooperative Endeavor Agreement with Winning the Battle Ministry.  A roll call vote resulted in the following:

 

YEAS:                          Frank Aguillard, Jr., Brandon Bergeron, James Cline, and Kevin Hotard

NAYS:                          Chad Aguillard, Debbie Collins, and Thomas Nelson

ABSTENTIONS:             Anita LeJeune

 

The motion not to enter into a Cooperative Endeavor Agreement with Winning the Battle Ministry passed by a 4-3-1 vote.

                                                                           - - - -
 

Personnel Actions.  Ms. Cynthia O'Meara, Personnel Director, reviewed the Personnel Actions for the month of December 2009.

 

Mr. Thomas Nelson made a motion, seconded by Mr. Kevin Hotard to approve personnel actions A, B, C, D, E, and F, as presented by Ms. O'Meara. 

 

A.        RETIREMENTS:

 

Gloria Facione, certified teacher, Rosenwald Elementary School, effective 12.18.09

 

B.         EXTENDED SICK LEAVE:

 

Larry Ayres, practitioner teacher, Livonia High School, effective 12.07.09-12.10.09;

Leslie Grezaffi, certified teacher, Rosenwald Elementary School, effective 11.02.09 (2 day) - 12.18.09;

Karen Harrell, non-certified teacher, Livonia High School, effective 11.20.09, 11.16.09;

Laura Horton, practitioner teacher, Upper Pointe Coupee Elementary, effective 11.17.09-11.20.09;

Heather Jarreau, social worker/counselor, Valverda Elementary School, effective 11.30.09, 12.10.09;

Jessica Langlois, social worker, School Based Health Clinic on the campus of Pointe Coupee Central High School;

Relda Langlois, janitor, Valverda Elementary School, effective 12.10.09 - 12.11.09;

Shanika Martin, certified teacher, Valverda Elementary School, effective 11.17.09, 11.13.09;

Juanita Paul, school food service manager, Pointe Coupee Central High School, effective 09.02.09-09.04.09, 09.08.09-09.11.09, 09.14.09-09.18.09, 09.22.09-09.24.09, 11.01.09, 10.05.09, 10.14.09-10.16.09, 10.22.09; and

Joyce Turner, school food service technician, Upper Pointe Coupee Elementary School, effective 12.01.09-02.28.10.

 

C.         NEW HIRES:

 

Ali LeJeune, Head Start Teacher, Rougon Elementary School, effective 12.14.09

 

D.         Consider appointment of Head Start Paraprofessionals:

 

Rosenwald Elementary:                          Janet LeMay, Vanessa Nelson, and Marion St. Cyr;

 

Rougon Elementary:                               Dana Dickinson and Stacy Leonard

 

Upper Pointe Coupee Elementary:           Brandy Dailey and Brenda Victorian

 

Valverda Elementary:                             Mindi Akin and Dana Barbay

 

E.         SABBATICAL MEDICAL LEAVE:

 

Evelyn Winley, certified teacher, Upper Pointe Coupee Elementary School, 12.18.09-05.20.10 (spring semester of the 2009-2010 school year -90 days)

 

F.         RESIGNATIONS:

 

Kathleen Carr, speech therapist, Livonia High School, effective 12,31.09

 

Noted: Revision to dates previously approved for Family and Medical Leave Without Pay: Heather Jarreau, social worker/counselor at Valverda Elementary, effective 12.01.09-12.09.09.

                                                                           - - - -

 

Head Start Supervisor's Monthly Report.  Mrs. Karen Holmes-Shaw, Head Start Supervisor, provided the December 2009 Head Start Report.  The written report consisted of the following: (A) Monthly Financial Report; (B) Monthly Program Information Summary (1) Health/Development Information Summary, (2) Parent Involvement Summary (3) Disability/Mental Health Information Summary; (C) Program Enrollment and Attendance Reports; (D) Monthly Report of Meals and Snacks (this is not applicable until children report to centers); (E) Results of the Annual Financial Audit (this is not applicable until Head Start funds are included in the annual audit for the School Board); (F) Annual Self-Assessment Report (due to be completed in April 2010); (G) Community Assessment and Strategic Planning Addressing Needs of Head Start Program (completed); (H) Applicable correspondence from Washington or Dallas Offices of Head Start; and (I) Program Information Report (PIR) (due to be completed and submitted to Washington on August 31, 2010).  Mrs. Shaw's focus for the month was to (1) hire four Family Advocates and one Family Services Facilitator that will assist with education and child development components, (2) interviewed for nine teaching assistant/paraprofessional positions, (3) bid playground equipment and continue construction on modular facilities and site work, (r4) recruit students and families for vacant slots (5) assist Head Start Families who had expressed needs (i.e., families who have lost homes to fire); (6) serve as many families as possible through home-based services with home-base service ceasing on 12/14/09 and returning to January 2010, if building or not ready to be occupied, (7) Brigance Development Screening completion on all children that were accepted, (8) parent assistance with completion os physical/dental examinations on all accepted children, (9) assist parents in getting children up-to-date on all immunizations that are required, (10) Education/Family Services Training-Daycare Licensure, Creative Curriculum, ECERS, and Performance Standard Training, (11) Conduction of parent meetings, Policy Council meeting, and parent/child socialization, (12) order materials and supplies to "set-up" classrooms upon return from Christmas/Winter break.

 

Mr. Thomas Nelson made a motion, seconded by Mrs. Debbie Collins, to accept the Head Start Supervisor's monthly provided by Mrs. Karen Holmes-Shaw, Head Start Supervisor.  Unanimously carried.

                                                                           - - - -
 

 Approval of the 2010-2011 Head Start Grant Refunding Application.  Mrs. Shaw provided copies of the application for federal assistance, as well as other pertinent information, to the Board for their review.  The Pointe Coupee Parish Head Start Policy Council approved $1,054,916 for federal funding and the Pointe Coupee Parish School Board will provide $263,729 in non-federal share matching funds.

 

On a motion by Mr. Thomas Nelson, seconded by Mr. Kevin Hotard, the Board unanimously approved the 2010-2011 Head Start Grant Refunding Application 06CH7055.

                                                                           - - - -
 

Permission Granted to Advertise for Early Childhood Outdoor Learning Center Playground Equipment for Head Start Centers.  .  Mrs. Shaw provided Board members with a copy of the legal public notice and the bid proposal form for playground equipment for consideration of an advertisement to be published on December 23 and December 30, 2009.

 

Mr. Kevin Hotard made a motion, seconded by Mr. Thomas Nelson to grant permission to advertise for Early Childhood Outdoor Learning Center Playground Equipment for Head Start Centers.

                                                                           - - - -

 

Adoption of a 2010 Census Partner Resolution.   Superintendent D'Amico met with a census representative and scheduled her to make a short presentation at one of the Principal/Administrator meetings.  Mrs. D'Amico stressed the importance of census participation from parents/guardians of school children as a lot of money (federal and state) is allocated to communities, and decisions are made on matters of national and local importance based upon census data, including healthcare, community development, housing, education, transportation, social services, employment, and much more. A copy of a standard resolution affirming support of and partnership with the 2010 Census was provided for Board members to consider adopting.

 

On a motion by Mr. Frank Aguillard, seconded by Mr. Kevin Hotard, the Pointe Coupee Parish School Board unanimously adopted the following 2010 Census Partner Resolution:

 

                                                     2010 Census Partner Resolution

 

                                                              A Resolution Affirming

                Pointe Coupee Parish School Board's support of and partnership with the 2010 Census

 

WHEREAS the U.S. Census Bureau is required by the Constitution of the United States of America to conduct a count of the population and provides a historic opportunity for the Pointe Coupee Parish School Board to help shape the foundation of our society and play an active role in American democracy;

 

WHEREAS the Pointe Coupee Parish School Board is committed to ensuring every resident is counted;

 

WHEREAS more than $300 billion per year in federal and state funding is allocated to communities, and decisions are made on matters of national and local importance based on census data, including healthcare, community development, housing, education, transportation, social services, employment, and much more;

 

WHEREAS census data determine how many seats each state will have in the U.S. House of Representatives as well as the redistricting of state legislatures, county and city councils ,and voting districts;

 

WHEREAS the 2010 Census creates hundreds of thousands of jobs across the nation;

 

WHEREAS every Census Bureau worker takes a lifetime oath to protect confidentiality and ensure that data identifying respondents or their household not be released or shared for 72 years;

 

WHEREAS a united voice from businesses, government, community-based and faith-based organizations, educators, media and others will allow the 2010 Census message to reach a broader audience, providing trusted advocates who can spark positive conversations about the 2010 Census;

 

Now, therefore, BE IT RESOLVED that the Pointe Coupee Parish School Board

 

  1.       Supports the goals and ideals for the 2010 Census and will disseminate 2010 Census information to encourage participation.

 

   2.      Asks its affiliates and membership to partner together to achieve an accurate and complete count.

 

   3.      Encourages people in Pointe Coupee to participate in events and initiatives that will raise overall awareness of the 2010 Census and increase participation among all populations.

                                                                           - - - -


Approval of a Resolution Regarding Terms for Qualified School Construction Bonds (QSCB).  President James Cline stated that in January 2008, he had personally researched and discovered the Reinvest Act of the Stimulus Package to help with school construction.  He mentioned that in the past, the school system had received Quality Zone Assurance Bonds (QZAB) for roofing projects.    Mr. Cline stated that a Board Retreat was held in Lake Charles during the Louisiana School Board's Convention. Attorney Shafto was requested to there  to provide information and advise the Board on how to qualify for funding.  The original request was made for 5 million; however, it was scaled down to 2.5 million. Interim Superintendent Lucia waited in line with other Superintendents from around the state this past summer to submit the school system's letter of request to the Louisiana State Department of Education.  The school system has until December 18, 2009 to accept the money. It was stated that Crews and Associates approved the Bonds with funding scheduled for Tuesday, December 22, 2009 and the first principal payment to be March 2011.

 

$2,500,000

 

                                             POINTE COUPEE PARISH SCHOOL BOARD

                                                             STATE OF LOUISIANA

                                QUALIFIED SCHOOL CONSTRUCTION (TAXABLE) REVENUE

                                                              BONDS, SERIES 2009

                                                          Dated December 17, 2009

                                                               BOND RESOLUTION
 

                                             POINTE COUPEE PARISH SCHOOL BOARD

                                                               BOND RESOLUTION

                                                             TABLE OF CONTENTS
 

Exhibit A B Form of Bond

Exhibit B B Form of Costs of Issuance Fund Requisition

Exhibit C B Debt Service Schedule

Exhibit D B Form of Projects Fund Requisition


BOND RESOLUTION

 

A resolution providing for the issuance and sale of Two Million Five Hundred Thousand Dollars ($2,500,000) of Qualified School Construction (Taxable) Revenue Bonds, Series 2009 of Pointe Coupee Parish School Board, Parish of Pointe Coupee, State of Louisiana; prescribing the form, fixing the details and providing for the rights of the owners thereof; providing for the payment of the principal of and interest on such bonds and the application of the proceeds thereof to the refunding of certain bonds of said School Board; and providing for other matters in connection therewith.

 

                                                               W I T N E S S E T H

 

WHEREAS, in accordance with the QSCB Regulations and the Act (each as defined herein), the School Board has determined to issue its Qualified School Construction Bonds in the form of $2,500,000 Qualified School Construction (Taxable) Revenue Bonds, Series 2009 (the "Bonds");
 

WHEREAS, the Pointe Coupee Parish School Board (the "School Board") desires to provide for the renovation, repairing, equipping and rehabilitation of certain public schools (collectively, the "Projects") within the Pointe Coupee Parish School System;

 

WHEREAS, the Projects qualify for financing under the federal Qualified School Construction Bond ("QSCB") program, enacted pursuant to Section 1521(c) of Title 1 of Division B of the American Recovery and Reinvestment Act of 2009;

 

WHEREAS, the School Board has received a QSCB allocation from the Louisiana Department of Education in the amount of $2,500,000;

 

WHEREAS, the School Board has determined that (i) it has a need to finance the Projects; and (ii) the costs of the Projects constitute qualified expenditures pursuant to the QSCB regulations;

 

WHEREAS, execution and delivery of this Bond Resolution and issuance, execution and delivery of the Bonds have been in all respects fully and validly authorized by the School Board pursuant to the Resolutions.

 

     THIS BOND RESOLUTION FURTHER WITNESSETH, and it is expressly declared all Bonds executed and delivered and secured hereunder are to be executed and delivered and all said property hereby assigned or pledged is to be dealt with and disposed of under, upon and subject to the terms, conditions, stipulations, covenants, agreements, trusts, uses and purposes as hereinafter expressed, and the School Board has agreed and covenanted and does hereby agree and covenant with the respective Owners from time to time of the Bonds, as follows:
 

ARTICLE I

DEFINITIONS
 

Section 1.01.    Definitions.      Unless the context clearly otherwise requires, the terms defined in this Article I and in the recitals and succeeding Articles of this Bond Resolution shall, for all purposes of this Bond Resolution and of any supplemental Bond Resolution, have the meanings herein specified, such definitions to be equally applicable to both the singular and plural forms of any of the terms defined:

 

 "Act" means Section 1430 of Title 39 of the Louisiana Revised Statutes of 1950, as amended (La. R.S. 39:1430, et seq.).

 

"Additional Parity Bonds" has the meaning in Section 6.01 hereof.

 

"Authorized Denominations" means denominations of $100,000 and any integral multiple of $1,000 in excess thereof.

 

"Bond Counsel" means Breithaupt, Dunn, DuBos, Shafto & Wolleson, LLC, or any other nationally recognized bond counsel acceptable to the Purchaser.

 

"Bond Resolution" means this resolution adopted by the School Board on December 17, 2009, authorizing the issuance of the Bonds, including any amendments or supplements thereto.

 

"Bonds" means the Pointe Coupee Parish School Board Qualified School Construction (Taxable) Revenue Bonds, Series 2009, authorized to be issued by the School Board under this Bond Resolution.

 

"Business Day" means a day on which banks in the State of New York or the State of Louisiana or the state in which the principal office of the Paying Agent is located are not required or authorized by law to remain closed or on which The New York Stock Exchange is not closed.

 

"Code" means the Internal Revenue Code of 1986 and regulations promulgated thereunder, as amended.

 

"Constitutional Local Support Tax" means the ad valorem maintenance tax of not to exceed five (5) mills authorized to be levied by the School Board on all of the property subject to taxation within the territorial limits of Pointe Coupee Parish, under the provisions of La. Const. Art. VIII, '13(C) for the purpose of supporting public schools in Pointe Coupee Parish.

 

"Costs of Issuance" means the aggregate amount necessary to pay all costs required to be paid for the fees, and other expenses relating to the issuance and delivery of the Bonds.

 

"Costs of Issuance Fund" means the fund of that name created under Section 5.01 hereof.

 

"Coupon Rate" means the additional coupon rate of the Bonds of 1.75% per annum.

 

"Credit Allowance Date" means with respect to the Bonds, each March 15, June 15, September 15 and December 15 on which any portion of the principal amount of the Bonds remains unpaid, and includes the last day on which the Bonds are outstanding.

 

"Credit Rate" means six and six one-hundredths percent (6.06%) per annum, the rate designated by the Secretary of the United States Treasury on December 16, 2009, the date of the Issue's acceptance of the Commitment Letter of the Purchaser which Commitment Letter is a binding, written contract for the sale or exchange of the Bonds.

 

"Date of Issuance" means the date the Issuer receives payment for the Bonds, which is anticipated to be December 22, 2009.

 

"Debt Service Schedule" means the schedule of principal and interest payments to be deposited to the Sinking Fund on the dates and in the amounts as shown on Exhibit C hereto.

 

"Department of Education" means the Louisiana Department of Education.

 

"Determination of Disqualification" shall have been deemed to occur as to a Bond if a ruling, assessment, notice of deficiency or technical advice by the Internal Revenue Service shall be rendered as a result of an Event of Disqualification to the effect that the Bonds are not "qualified school construction bonds" for purposes of  '54F of the Code and either (i) the School Board, after it has been notified by the Internal Revenue Service, shall not challenge such ruling, assessment, notice or advice in a court of law during the period within which such challenge is permitted, or (ii) the School Board shall challenge such ruling, assessment, notice or advice and a court of law shall make a determination, not subject to appeal or review by another court of law, that such ruling, assessment, notice or advice is correctly rendered.

 

"Event of Default" means any event described in Section 7.01 hereof.

 

"Event of Disqualification" means any event or circumstance that results in a Determination of Disqualification; except any action(s) of the Purchaser or any Owner of the Bonds that may result in a Determination of Disqualification shall not be considered an Event of Disqualification.

 

 "Fiscal Year" means the fiscal year of the School Board ending June 30 of each year.

 

"Governing Authority" means the Pointe Coupee Parish School Board, and any successor thereto.

 

"Interest Payment Date" means March 15, June 15, September 15 and December 15 of each year the Bonds are Outstanding, beginning March 15, 2010 and ending on March 15, 2025, the Final Maturity Date.  Interest will accrue on a 30/360 day basis.

 

"Issuer" or "School Board" mean Pointe Coupee Parish School Board, Parish of Pointe Coupee, State of Louisiana.

 

"Maturity Date"means March 15, 2025, the date on which the Bonds are scheduled to mature and be repaid in full.

 

"Opinion of Counsel" means the written opinion of Bond Counsel or other legal counsel of recognized national standing in the field of municipal bonds.

 

"Owner" means any person or persons in whose name a Bond shall be registered.

 

"Projects" has the meaning in Section 2.01 hereof.

 

"Projects Fund" means the fund of that name created under Section 5.01 hereof.


"Paying Agent" means First Security Bank, Little Rock, Arkansas.

 

"Purchaser" means Crews & Associates, Inc., Little Rock, Arkansas.

 

"QSCB Regulations" shall mean Section 54F of the Code, as added by Section 1521(c) of Title 1 of Division B of the American Recovery and Reinvestment Act of 2009, Publ. No. 111-5, 123 Std. 115 (2009), including sections of the United States Department of the Treasury regulations applicable thereto, as set forth in IRS Notice 2009-35, dated April 13, 2009. 

 

"Qualified Investments" means noncallable direct general obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United States of America:

 

(1) Direct United States Treasury obligations, the principal and interest of which are fully guaranteed by the government of the United States.

 

(2) Bonds, debentures, notes, or other evidence of indebtedness issued or guaranteed by federal agencies and provided such obligations are backed by the full faith and credit of the United States of America, which obligations include but are not limited to:

 

(b)        U.S. Export-Import Bank.

(c)                 Farmers Home Administration.

(d)                 Federal Financing Bank.

(e)                 Federal Housing Administration Debentures.

(f)                   General Services Administration.

(g)        Government National Mortgage Association-guaranteed mortgage-backed bonds and guaranteed pass-through obligations.

(h)        U.S. Maritime Administration - guaranteed Title XI financing.

(i)                   U.S. Department of Housing and Urban Development.

 

(3) Bonds, debentures, notes, or other evidence of indebtedness issued or guaranteed by U.S. government instrumentalities, which are federally sponsored, and such obligations include but are not limited to:

 

(j)                   Federal Home Loan Bank System.

(k)                 Federal Home Loan Mortgage Corporation.

(l)                   Federal National Mortgage Association.

(m)               Student Loan Marketing Association.

(n)                 Resolution Funding Corporation.

 

(4) Money market funds with underlying investments comprised solely of securities described in (1), (2) and (3) above.

 

(5) Notwithstanding the foregoing list of investments, in no instance shall Qualified Investments include collateralized mortgage obligations that have been stripped into interest only or principal only obligations, inverse floaters, or structured notes.  For the purposes of this item "structured notes" shall mean securities of U.S. government agencies, instrumentalities, or government-sponsored enterprises which have been restructured, modified, and/or reissued by private entities.

 

"Qualified Purpose" means construction, rehabilitation and repair of a public school facility or for the acquisition of land on which such a facility is to be constructed within the jurisdiction of the Issuer; expenditures for costs of acquisition of equipment to be used in such portion or portions of the public school facility that is being constructed, rehabilitated or repaired with Bond proceeds.

 

 "Record Date" means, in the event of the transfer of a Bond, the first Business Day of the month preceding an Interest Payment Date.

 

"Resolutions" means, collectively, the resolutions adopted by the School Board on March 26, 2009, and this Bond Resolution.

 

"Revenues" has the meaning in Section 2.02 hereof.

 

"School Board Representative" means the President or Superintendent-Secretary of the School Board (either of them acting alone) or any other person at the time designated to act on behalf of the School Board.

 

"Sinking Fund" means the fund of that name created under Section 5.01 hereof, and further discussed in Section 5.04 hereof.

 

"System" means the Pointe Coupee Parish School System (Parish Wide), State of Louisiana.
 

ARTICLE II

FORM, EXECUTION AND REGISTRATION OF BONDS

 

Section 2.01.    Authorization of Bond; Maturity In compliance with the terms and provisions of the Act, the QSCB Regulations, other constitutional and statutory authority, and the policies and procedures of the Department of Education, there is hereby authorized the incurring of indebtedness of Two Million Five Hundred Thousand Dollars ($2,500,000) for, on behalf of, and in the name of the Issuer, for the purpose of construction, rehabilitation or repair of public school facilities, including equipping of school facilities improved with Bond proceeds, and paying the Costs of Issuance thereof ("Projects").  To represent said indebtedness, this Governing Authority does hereby authorize the issuance of its Qualified School Construction (Taxable) Revenue Bonds, Series 2009, in the amount of Two Million Five Hundred Thousand Dollars ($2,500,000).  The Bonds shall be in the form of one (1) Term Bond, in fully registered form, as follows:

 

 

 

 

 

 

 

 

Term Bond Due:

 

Principal

 

Tax Credit Rate

Coupon Rate

 

 

March 15, 2025

 

$2,500,000

 

6.06%

1.75%

 

 

The Bonds shall bear interest at the Coupon Rate from the date thereof or from the most recent Interest Payment Date to which interest has been paid or duly provided for, payable quarterly on each Interest Payment Date, commencing March 15, 2010.

The principal of the Bonds, upon maturity or redemption, shall be payable at the principal office of the Paying Agent, upon presentation and surrender thereof, and interest on the Bonds shall be payable by check of the Paying Agent mailed by the Paying Agent to the Owner (determined as of the close of business on the Record Date) at the address shown on the Bond Register.  Each Bond delivered under this Resolution upon transfer of, in exchange for or in lieu of any other Bond shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Bond, and each such Bond shall bear interest (as herein set forth) so neither gain nor loss in interest shall result from such transfer, exchange or substitution.

No Bond shall be entitled to any right or benefit under this Resolution, or be valid or obligatory for any purpose, unless there appears on such Bond a certificate of registration, substantially in the form provided in this Resolution, executed by the Paying Agent by manual signature.

Section 2.02.    Designation as Qualified School Construction Bond.  In accordance with the QSCB Regulations, the Issuer hereby designates the Bonds as "Qualified School Construction Bonds".

Section 2.03.  Pledge and Dedication of Revenues.  (a) The Bonds shall be secured by and payable from (i) the excess of revenues of subsequent years above the statutory, necessary and usual charges in each of the Fiscal Years during which the Bonds are outstanding; and (ii) a pledge and dedication of the revenues received from the avails of the Constitutional Local Support Tax (items (i) and (ii) being collectively referred to herein as the "Revenues").

(b)      There is hereby irrevocably pledged and dedicated to the payment of the Bonds an amount of such Revenues sufficient to pay same in principal and interest as they are respectively due in accordance with the Debt Service Schedule.  Until the principal of and interest on Bonds shall have been paid in full, the School Board obligates itself and its successors in office to budget annually a sum of money sufficient to satisfy the School Board's obligation to make deposits to the Sinking Fund under this Bond Resolution and to pay the Bonds and the interest thereon as they respectively mature, including any principal and/or interest theretofore matured and then unpaid and to levy and collect other revenues within the limits prescribed by law, sufficient to make such deposits and to pay the principal of and interest on the Bonds.

Section 2.04.  Covenant to Levy Tax.  The School Board hereby covenants and agrees to impose and collect annually, in excess of all other taxes, the Constitutional Local Support Tax in an amount (up to the maximum allowable millage) sufficient to maintain at least 1.35 times the maximum annual debt service requirement (principal and interest) on the Bonds and any Additional Parity Bonds falling due each year, said tax to be levied and collected by the same officers, in the same manner and at the same time as other taxes are levied and collected within the territorial limits of the School Board. 

Section 2.05.  Subsequent Separation of Tax Credit.  (a) Pursuant to procedures to be prescribed under the QSCB Regulations, at the request of the Owner, the ownership of the Bonds and the tax credit attributable to such Bonds may be separated; it being understood that, as of the date of this Bond Resolution, no such regulations regarding separation of the tax credits have yet been promulgated.  Assuming such procedures are prescribed and in the event of a subsequent separation of the tax credit from the Bonds in compliance with such procedures, the federal income tax credit may be allocated to the owner of the instrument entitled to the credit and not to the owner of the Bond.  If allowed by the QSCB Regulations, any instrument reflecting the entitlement to receive the tax credit may be subsequently recombined with the Bond into unstripped Bonds.  The School Board makes no representation with respect to any subsequent separation of the federal tax credit attributable to the Bonds.

(b)  To accomplish a separation of the tax credits, upon the written request of any Owner, the School Board shall amend the form of the Bond, including an amendment or supplement to this Bond Resolution to reflect any actions taken subsequent to the issuance of the Bonds that pertain to the entitlement to the tax credit.  Such amendments may include, but are not limited to, the authentication and delivery of a separate certificate indicating the entitlement to the tax credit.  Any Owner making such a request shall be required to reimburse the School Board for its reasonable costs and expenses associated with the School Board=s compliance with such request, including any requirements under the federal securities laws.  It expressly provided that any action taken by the School Board with regard to the separation of the tax credit from the Bonds shall not, in any way, affect the rights, duties and obligations of the School Board contained in this Bond Resolution, and the School Board shall have no liability therefore or indemnity obligation associated therewith.

ARTICLE III

REDEMPTION PROVISIONS

Section 3.01.    Optional Redemption.  The Bonds shall not be subject to optional redemption prior to maturity.

Section 3.02.  Mandatory Sinking Fund Redemption. The Bonds are subject to Mandatory  Sinking Fund Redemption prior to maturity, including interest accrued to the redemption date on an annual basis commencing March 15, 2011, and continuing on each March 15 thereafter until maturity, in the principal amounts in the years specified as follows:

Date

Principal

(March 15)

Amount

2011

$145,000

2012

$150,000

2013

$150,000

2014

$155,000

2015

$160,000

2016

$160,000

2017

$165,000

2018

$165,000

2019

$170,000

2020

$170,000

2021

$175,000

2022

$180,000

2023

$180,000

2024

$185,000

2025

$190,000


Section 3.03.    Extraordinary Optional/Mandatory Redemption.  Except for Mandatory Sinking Fund Redemption as stated above, the Bonds are not subject to redemption or prepayment by the Issuer prior to their stated maturity except as specified in this section as follows:

(a)        To the extent that less than 100% of the "available project proceeds" of the Bonds (as defined in the QSCB Regulations) are expended for Qualified Purposes by the close of the 3-year period beginning on the Date of Issuance (or if an extension of such expenditure period has been received by the Issuer from the Secretary of the United States Treasury Department, by the close of the extended period) the Issuer shall redeem all of the non-qualified Bonds within 90 days after the end of such period;

(b)        Upon a Determination of Disqualification, the Issuer shall redeem all of the Bonds within 90 days.  Further, the Issuer shall pay to the Owner an amount to compensate the Owner for any lost tax credits from the date of the Event of Disqualification which led to such Determination of Disqualification.

(c)        Any redemption of Bonds pursuant to (a) or (b) above shall be at a redemption price of 100% of par.

Official notice of such call for redemption of the Bonds, or any portion thereof, shall be given by the Paying Agent by means of first class mail, postage prepaid, by notice deposited in the United States mails not less than ten (10) days prior to the redemption date addressed to the Owner of the Bonds to be redeemed at his address as shown on the Bond Register.

ARTICLE IV

REGISTRATION

Section 4.01.      Registration. The Issuer shall cause the Bond Register to be kept by the Paying Agent. The Bonds may be transferred, registered and assigned only on the Bond Register, and such registration shall be at the expense of the Issuer. A Bond may be assigned by the execution of an assignment form on the Bond or by other instruments of transfer and assignment acceptable to the Paying Agent. A new Bond or Bonds will be delivered by the Paying Agent to the last assignee (the new registered owner) in exchange for such transferred and assigned Bonds after receipt of the Bonds to be transferred in proper form.

Such new Bond or Bonds shall be in Authorized Denominations.  Neither the Issuer nor the Paying Agent shall be required to issue, register, transfer or exchange any Bond during a period beginning (i) at the opening of business on a Record Date and ending at the close of business on the Interest Payment Date or (ii) with respect to Bonds to be redeemed, at the opening of business fifteen (15) days before the date of the mailing of a notice of redemption of such Bonds and ending on the date of such redemption.

Section 4.02.    Owners.  As to any Bond, the Paying Agent, in its discretion, may deem and treat the person in whose name the Bond shall be registered as the absolute owner thereof for all purposes and the Paying Agent shall not be affected by any notice to the contrary.  Payment of or on account of the principal  represented by any such Bond shall be made only to or upon the order of the Owner thereof, but such registration may be changed as provided above.  All such payments shall be valid and effectual to satisfy and discharge the liability upon such Bond to the extent of the sum or sums so paid.

Section 4.03.    Mutilated, Destroyed, Stolen or Lost Bonds.  In case any outstanding Bond shall be mutilated or be destroyed, stolen or lost, the School Board shall execute and deliver a new Bond of like tenor, number and amount as the Bond so mutilated, destroyed, stolen or lost, in exchange and substitution for such mutilated Bond, upon surrender of such mutilated Bond, or in lieu of and in substitution of the Bond destroyed, stolen or lost, upon filing with the School Board evidence satisfactory to the School Board that such Bond has been destroyed, stolen, or lost and proof of ownership thereof, and upon furnishing the School Board with indemnity satisfactory to it and complying with such other reasonable regulations as the School Board may prescribe and paying such reasonable expenses as the School Board may incur in connection therewith.

Section 4.04.    Return of Paid Bonds.  Each Bond, when paid in full, shall be returned to the Superintendent of the School Board.

ARTICLE V

DISPOSITION OF PROCEEDS; FUNDS

Section 5.01.    Establishment of Funds.  There is hereby established and created the following funds and accounts:

(i)       a Costs of Issuance Fund;

(ii)      a Projects Fund; and

(iii)      a Sinking Fund.

Section 5.02.    Costs of Issuance Fund.

(a)  The School Board hereby establishes and maintains a special fund with Paying Agent known and designated as the "Costs of Issuance Fund" (the "Cost of Issuance Fund").

(b)  There shall be deposited into the Costs of Issuance Fund the sum of $49,000 from the proceeds of the Bonds.

(c)  Upon receipt from the School Board of a completed requisition substantially in the form attached hereto as Exhibit C and authorized by a School Board Representative, the Paying Agent shall disburse moneys from the Costs of Issuance Fund for payment of all Costs of Issuance for the Bonds.

(d)  After 60 days following the date of issuance of the Bonds, any balance remaining in the Costs of Issuance Fund shall be deposited without further authorization into the Project Fund.

Section 5.03.    Projects Fund.

(a)  The School Board shall establish and maintain with the Paying Agent a special fund known and designated as the "Projects Fund" (the "Project Fund").

(b)  There shall be deposited into the Projects Fund the sum of $2,401,000 representing the balance of the proceeds of the Bonds remaining after the deposits into the Costs of Issuance Fund required by Section 5.02 has been made.

(c)  Upon execution of a completed requisition substantially in the form attached hereto as Exhibit D and authorized by a School Board Representative, the Paying Agent shall disburse moneys from the Projects Fund for the payment of all costs incurred in connection with the Projects.

(d)  Upon certification by a School Board Representative that all costs incurred in connection with the Projects have been paid, any balance remaining in the Projects Fund shall be deposited without further authorization into the Sinking Fund and used to redeem Bonds in accordance with Section 3.03.

Section 5.04.    Sinking Fund.  For the payment of the principal of and the interest on the Bonds and any Additional Parity Bonds, there is hereby created a special fund known as "Sinking Fund" (the "Sinking Fund"), said Sinking Fund being established and maintained with the Paying Agent.  The Issuer shall deposit in said Sinking Fund at least one (1) day in advance of the date on which each payment of principal and/or interest on the Bonds falls due, funds fully sufficient to promptly pay the maturing principal and/or interest so falling due on such date.  The depository for the Sinking Fund shall transfer from the Sinking Fund to the Paying Agent funds fully sufficient to pay promptly the principal and interest falling due on such date.

All moneys deposited with the Issuer or the Paying Agent under the terms of this Resolution shall constitute sacred funds for the benefit of the Owners of the Bonds, and shall be secured by said fiduciaries at all times to the full extent thereof in the manner required by law for the securing of deposits of public funds.

Section 5.05.       Investment of Moneys.

(a)  Any monies held in the Project Fund and the  Sinking Fund shall be invested and reinvested in Qualified Investments, as directed in writing by the School Board from time to time. 

(b)  All Qualified Investments purchased shall mature or be redeemable or be subject to repurchase by another entity on a date or dates prior to the time when the moneys so invested will be required for expenditure.  Money in separate funds or accounts may be commingled for the purpose of investment or deposit provided that interest earnings shall be credited pro rata to the respective funds and accounts from which the money came. 

ARTICLE VI

PARITY BONDS

Section 6.01.    Parity Bonds.  Neither the School Board nor the System shall issue any other certificates or obligations of any kind or nature payable from or enjoying a lien on the Revenues having priority over or parity with the Bonds except that additional Bonds may hereafter be issued on a parity with the Bonds ("Additional Parity Bonds") under the following conditions:

(1)  Additional Parity Bonds may be issued on and enjoy a full and complete parity with the Bonds with respect to the Revenues, provided that the anticipated Revenues in the year in which the additional bonds are to be issued, as reflected in the budget adopted by the Governing Authority, must be at least equal to 1.35 times the combined principal (including amounts required to be deposited to the Sinking Fund) and interest requirements for any calendar year on the Bonds and any other outstanding obligations and the said Additional Bonds.

(2)  Junior and subordinate bonds may be issued without restriction.

(3)  The School Board must be in full compliance with all covenants and undertakings in connection with the Bonds and there must be no delinquencies in payments required to be made in connection therewith.

ARTICLE VII

COVENANTS

Section 7.01.    Covenants Relating to the QSCB Code Provision, QSCB Regulations and Other Matters.  The Issuer hereby certifies and covenants that:

1)       100% of the available project proceeds, as defined in the code, will be spent for Qualified Purposes;

2)       100% of the available project proceeds, as defined in the Code, will be spent at public school facilities within the jurisdiction of the School Board;

3)       within the six-month period beginning on the Date of Issuance, it will incur a binding commitment with a 3rd party to spend at least 10% of such available project proceeds on Qualified Purposes;

4)       Any reimbursement of proceeds of the Bonds for capital expenditures for Qualified Purposes incurred prior to the Date of Issuance of the Bonds will be undertaken strictly in accordance with 54A(d)(2)(D) of the Code;

5)       All applicable State and local laws governing conflicts of interest have and will continue to be satisfied with respect to the Bonds;

6)       The Issuer will redeem all non qualified Bonds pursuant to Section 3.03 of this Resolution;

7)       The Issuer will comply with the terms of the Davis-Bacon Act, to the extent required by the American Recovery and Reinvestment Act of 2009;

8)       Subject to the Terms of the Louisiana Governmental Claims Act (Sections 13:5101, et seq., of the Louisiana Revised Statutes of 1950, as amended), the Issuer is not entitled to claim immunity on the grounds of sovereignty or other similar grounds with respect to (i) itself for claims arising ex contractu or (ii) the enforcement of its obligations under this Resolution or the Bonds;

9)       The Issuer will submit reports similar to those required under Section 149(e) of the Code.

Section 7.02.    Arbitrage.  The Issuer covenants and agrees that, to the extent permitted by the laws of the State of Louisiana, it will comply with the provisions of Section 148 of the Internal Revenue Code of 1986 and any amendment thereto (the "Code"), as modified by QSCB Regulations, with respect to the proceeds of the Bonds.

ARTICLE VIII

EVENTS OF DEFAULT; REMEDIES ON DEFAULT

Section 8.01.    Events of Default.  Each of the following events is hereby defined as, and is declared to be and to constitute, an A Event of Default hereunder:

(a)      If default shall be made in the due and punctual payment of principal of any Bond;

(b)      If default shall be made in the due and punctual payment of interest on any Bond;

(c)      If the School Board shall file a petition or otherwise seek relief under any Federal or State bankruptcy law or similar law; then, upon the occurrence and the continuance of any Event of Default the owners of the Bonds shall be entitled to exercise all rights and powers authorized under the provisions of law;

(d)      If the School Board shall knowingly make any false representation or warranty herein or in the Bonds;

(e)      If the School Board shall fail to comply with the provisions of the Bonds or Resolutions or default in the performance of any covenant, agreement or condition on its part to be performed under this Bond Resolution, and such default shall continue for a period of 30 days after written notice thereof by the Owners of at least 25% of the Bonds then outstanding; or

(f)       If an action is brought contesting the validity of this Bond Resolution or the Bonds wherein a finding of invalidity of this Bond Resolution or the Bonds is made.

Section 8.02.    Remedies on Default.  Upon the occurrence and continuation of an Event of Default, the Owner may declare all amounts with respect to the Bonds and hereunder immediately due and payable, and pursue any and all remedies, including but not limited to an action for mandamus, that may exist at law or in equity pursuant to the law of the State at the time of such Event of Default.

Additionally, upon the occurrence and continuation of an Event of Default, the interest rate on the Bonds shall be increased to a per annum rate of interest equal to 9.80% per annum (the "Default Rate"); provided, however, the amount of interest payable by the Issuer shall be reduced by the amount of any tax credits, if any, which the Owner is entitled to receive during such period of default.  The Paying Agent shall provide prompt notice to the Owner of any event or occurrence of which it or its employees are aware that is, or with the passage of time, may become an Event of Default.

Section 8.03.    Application of Moneys.  All moneys received by the School Board pursuant to the right given or action taken under the provisions of this Bond Resolution, after payment of the costs and expenses of the proceedings resulting in the collection of such moneys and of the fees, expenses, liabilities and advances incurred or made by the School Board, shall be deposited in the Sinking Fund at and after the maturity of the Bonds and all moneys in the Sinking Fund shall be applied as follows:
 

First:  To the payment to the persons entitled thereto of interest, if any, then due on the Bonds, and if the amount available shall not be sufficient to pay such interest in full, then to the payment ratably to the persons entitled thereto, without any discrimination or privilege; and
 

Second:  To the payment to the persons entitled thereto of the unpaid principal of any of the Bonds which shall have become due, and, if the amount available shall not be sufficient to pay in full such Bonds due on any particular date, then to the payment ratably to the persons entitled thereto without any discrimination or privilege.
 

Whenever moneys are to be applied by the School Board pursuant to the provisions of this Section, such moneys shall be applied by it at such times, and from time to time, as the School Board shall determine, having due regard to the amount of such moneys available for application and the likelihood of additional moneys becoming available for such application in the future.  Whenever the School Board shall apply such funds, it shall fix the date upon which such application is to be made and upon such date interest on the amounts of principal to be paid on such dates shall cease to accrue.  The School Board shall give such notice as it may deem appropriate of the deposit with it of any such moneys and of the fixing of any such date, and shall not be required to make payment to the Owner of any unpaid Bond until such Bond shall be presented to the School Board for appropriate endorsement or for cancellation if fully paid.
 

Section 8.04.    Power of Majority of Registered Owners of Bonds.  Anything in this Bond Resolution to the contrary notwithstanding, the Owners of a majority in aggregate principal amount of Bonds, outstanding hereunder shall have the right, at any time, by an instrument or instruments in writing executed and delivered to the School Board, to direct the method and place of conducting all proceedings to be taken under this Bond Resolution, provided that such direction shall not be otherwise than in accordance with the provisions of law.
 

Section 8.05.    Limitation on Suits.  No Owner of any Bond evidencing an interest therein, shall have any right to institute any suit, action or  proceeding in equity or at law for the enforcement of the Resolutions or for execution of any trust hereof or for any other remedy hereunder, unless an Event of Default has occurred of which  the School Board has been notified or of which it is deemed to have notice; nor unless also the Owners of twenty-five percent (25%) in aggregate principal amount of the Bonds evidencing an interest therein outstanding hereunder shall have made written request to the School Board and shall have offered it reasonable opportunity either to proceed to exercise the powers hereinbefore granted or to institute such action, suit or proceeding in its own name; nor unless also they shall have offered to the School Board indemnity as provided hereinafter; and such notification, request and offer of indemnity are hereby declared in every such case at the option of the School Board to be conditions precedent to execution of the powers and trust of this Bond Resolution, and to any action or cause of action for enforcement or for any other remedy hereunder; it being understood and intended that no one or more Owners of the Bonds evidencing an interest therein shall have any right in any manner whatsoever to affect, disturb or prejudice the lien of this Bond Resolution by its or their action or to enforce any right hereunder except in the manner herein provided, and that all proceedings at law or in equity shall be instituted, had and maintained in the manner herein provided and for the equal benefit of the Owners of all Bonds evidencing an interest therein, outstanding hereunder.  Nothing contained in this Bond Resolution shall, however, affect or impair the right of any Owner of a Bond, which is absolute and unconditional, to enforce and bring suit for the payment of the principal of and interest, if any, on any Bond owned by such Owner, either directly or under a Bond, at and after the maturity thereof or the obligations of the School Board to pay the principal of and interest, if any, on the Bonds issued hereunder and the corresponding portions of the Bonds to the respective Owners thereof at the time and place expressed in said Bonds, in accordance with the terms of the Bonds.
 

ARTICLE IX

MISCELLANEOUS

            Section 9.01.    Bond Resolution and Contract Amendment.  The provisions of this Bond Resolution shall constitute a contract between the School Board and Owner or Owners from time to time of the Bonds, and any such Owner or Owners may at law or in equity, by suit, action, mandamus or other proceedings, enforce and compel the performance of all duties required to be performed by this Governing Authority as a result of issuing the Bonds.

No modification or amendment of this Bond Resolution, or of any Resolution amendatory hereof or supplemental hereto, may be made without the consent in writing of the Owners of two-thirds (2/3) of the aggregate principal amount of the Bonds then outstanding, provided, however, that no such modification or amendment shall change or permit a change in the maturity or the redemption provisions of the Bonds, or a reduction in the rate of interest thereon, or in the amount of the principal obligations thereof, or affecting the obligation of the School Board to pay the principal of and interest on the Bonds as the same shall become due from the revenues of the School Board, or change the requirements specified herein for the issuance of pari passu bonds under the provisions of this Bond Resolution, or reduce the percentage of the Owners of the Bonds required to consent to any modification or amendment of this Bond Resolution, or release, subordinate or impair or reduce any lien, security interest, pledge, mortgage or other security for the Bonds, without the prior written consent of all such Owners.

Section 9.02.  Severability; Application of Subsequently Enacted Laws.  In case any one or more of the non-material provisions of this Bond Resolution or of the Bond shall for any reason be held to be illegal or invalid, such illegality or invalidity shall not effect any other provisions of this Bond Resolution of the Bonds, but this Bond Resolution and the Bonds shall be construed and enforced as if such illegal or invalid provisions had not been contained therein.  Any constitutional or statutory provisions enacted after the date of this Bond Resolution which validate or make legal any provisions of this Bond Resolution and/or the Bonds which would not otherwise be valid or legal, shall be deemed to apply to this Bond Resolution and to the Bonds.

Section 9.03.  Discharge of Bond Resolution; Defeasance.  Subject to the terms and provisions hereof, including without limitation Section 3, if the School Board shall pay or cause to be paid, or there shall otherwise be paid to the Owners, the principal (and redemption price) of and the interest on the Bonds, and any and all other obligations of the School Board pursuant hereto, at the times and in the manner stipulated in this Bond Resolution, then the pledge of the money, securities, and funds pledged under this Bond Resolution and all covenants, agreements, and other obligations of the School Board to the Owners of the Bonds shall thereupon cease, terminate, and become void and be discharged and satisfied, provided that a certificate of any Owner that any obligation of the School Board has not been satisfied in full shall be presumptively deemed to be correct.

Bonds or interest installments for the payment or redemption of which money shall have been set aside and shall be held in trust (through deposit by the School Board of funds for such payment or redemption or otherwise) at the maturity or redemption date thereof shall be deemed to have been paid within the meaning and with the effect expressed above in this Section.  Bonds shall be deemed to have been paid, prior to their maturity, within the meaning and with effect expressed above in this Section if there shall have been deposited in trust either money in an amount which shall be sufficient, or Government Securities the principal of, and the interest on which when due will provide money which, together with the money, if any, deposited in trust at the same time, shall be sufficient to pay when due the principal of, premium, if any, and interest to become due on such Bonds on and prior to the stated maturity or (if notice of the call for redemption has been duly given or waived or if irrevocable arrangements therefor have been made) redemption date thereof neither Government Securities nor money deposited in trust pursuant to this Section, nor principal or interest payments on any such Government Securities, shall be withdrawn or used for any such purpose other than, and shall be held in trust for, the payment of the principal (and redemption price) of and interest on such Bonds.  Any cash received from such principal of and interest on such investment securities deposited in trust, and if not needed for such purpose shall, to the extent practicable, be reinvested in Government Securities (which may be non-interest bearing) maturing at times and in amounts sufficient to pay when due the principal, premium, if any, of and interest on such Bonds on and prior to the maturity thereof and interest earned from such reinvestments shall be paid over to the School Board as received by the depository, free and clear of any trust, lien or pledge.  Any payment for Government Securities purchased for the purpose of reinvesting money as aforesaid shall be made only against delivery of such Government Securities.

Section 9.04.  Sale of Bonds.  The sale of the Bonds to the Purchaser is hereby in all respects approved, ratified and confirmed and after their execution, the Bonds shall be delivered to the Purchaser or at the direction of the Purchaser or its agents or assigns, upon receipt by the Secretary-Superintendent of the School Board of the agreed purchase price.  The execution and delivery on behalf of the School Board by the Superintendent-Secretary or President of the School Board is hereby approved and ratified in all respects.  The Superintendent-Secretary and President of the School Board are each hereby empowered, authorized and directed to execute and deliver or cause to be executed and delivered all documents required to be executed on behalf of the School Board or deemed by them necessary or advisable to implement this Bond Resolution or facilitate the sale of the Bonds.

No sale, transfer or disposition of the Bonds shall in any case be made except to a commercial or savings bank, insurance company, financial institution or other sophisticated or "accredited" investor within the meaning of Section 2(15) of the Securities Act of 1933 or a "qualified institutional buyer" within the meaning of Rule 144(A) of the Securities and Exchange Commission.

Section 9.05.  Successor Paying Agent; Paying Agent Agreement.  The Issuer will at all times maintain a Paying Agent meeting the qualifications hereinafter described for the performance of the duties hereunder for the Bonds.  The designation of the initial Paying Agent in this Resolution is hereby confirmed and approved.  The Issuer reserves the right to appoint a successor Paying Agent. Every Paying Agent appointed hereunder shall at all times be a bank or trust company organized and doing business under the laws of the United States of America or of any state, authorized under such laws to exercise trust powers, and subject to supervision or examination by Federal or State authority.  The Executive Officers are hereby authorized and directed to take any and all action and execute an appropriate agreement, instrument, document or bond necessary to effectuate the purpose of this Section.

Section 9.06.  Disclosure Under SEC Rule 15c2-12.  It is recognized that the Issuer will not be required to comply with the continuing disclosure requirements described in the Rule 15c2-12(b) of the Securities and Exchange Commission (17-CFR Section 240.15c212(b), because:(a)  the Bonds are not being purchased by a broker, dealer or municipal securities dealer acting as an underwriter in a primary offering of municipal securities; and

(b)  the Bonds are being sold to not more than 35 financial institutions (i.e., no more than thirty-five persons) constituting an "Eligible Persons," pursuant to the Rules of the Securities and Exchange Commission which (i) have such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of the prospective investment in the Bonds and (ii) are not purchasing the Bonds for more than one account or with a view to distributing the Bonds.

Section 9.07.  Publication of Bond Resolution.  Preemption.  A copy of this Bond Resolution shall be published immediately after its adoption in one issue of the official journal of the School Board.  For a period of thirty (30) days after the date of such publication, any person in interest shall have the right to contest the legality of this Bond Resolution, the Bonds to be issued pursuant hereto and the security for such Bonds.  After the expiration of said thirty (30) day period, no one shall have any right of action to contest the validity of the Bonds, the provisions of this Bond Resolution or the security of the Bonds for any cause whatsoever, and the Bonds shall thereafter be conclusively presumed to be legal and no court shall thereafter have authority to inquire into such matters.

Section 9.08.    Notices.  All notices, demands and requests to be given or made hereunder to or by the School Board, or its designated successors, shall be in writing and shall be properly made if hand delivered or sent by United States mail, postage prepaid and addressed as follows:

Pointe Coupee Parish School Board

337 Napoleon Street

New Roads, LA 70760

Attn: Linda D'Amico, Superintendent

Section 9.09.    Amendment of Prior Resolution.  The Prior Resolution adopted by the School Board dated March 26, 2009, authorizing application to the State Bond Commission for approval of the issuance of the Bonds is hereby deemed amended to increase the interest rate (Coupon Rate) parameters of the Bonds from not to exceed 1.0% to not to exceed 2.0% interest for purposes of the State Bond Commission approval application.

                                                         [signatures on following page]

UPON MOTION OF BOARD MEMBER MR. KEVIN HOTARD, SECONDED BY MR. BRANDON BERGERON, the above and foregoing Bond Resolution was adopted on this, the 17th  day of December, 2009, with the votes being:

Board Member                         Yea      Nay                  Absent Abstaining

 

Chad Aguillard                           X

Frank Aguillard                          X

Brandon Bergeron                                  X

James Cline                                          X

Debbie Collins                           X

Kevin Hotard                                          X

Thomas Nelson                          X

Anita LeJeune                                        X

 

________/s/__________________________        

By:       Linda D'Amico

Superintendent-Secretary

CERTIFIED TO BE TRUE AND CORRECT COPY OF THE BOND RESOLUTION PASSED BY THE POINTE COUPEE PARISH SCHOOL BOARD AT ITS MEETING HELD ON DECEMBER 17, 2009.

_______/s/____________________________

By:       Linda D'Amico

Superintendent-Secretary

Exhibits to the Bond Resolution are available for inspection at the office of the Pointe Coupee Parish School Board during normal business hours.

Upon a motion by Kevin Hotard, seconded by Mr. Brandon Bergeron, the Pointe Coupee Parish School Board unanimously approved a Resolution providing for the issuance and sale of Two million Five Hundred Thousand Dollars ($2,500,000) of Qualified School Construction (Taxable) Revenue Bonds, Series 2009 of Pointe Coupee Parish School Board, Parish of Pointe Coupee, State of Louisiana; prescribing the form, fixing the details and providing for the rights of the owners thereof; providing for the payment of the principal of and interest on such bonds and the application of the proceeds thereof to the refunding of certain bonds of said School Board; and providing for other matters in connection therewith. 

REGISTERED

No. R-2

UNITED STATES OF AMERICA

STATE OF LOUISIANA

PARISH OF POINTE COUPEE
 

POINTE COUPEE PARISH SCHOOL BOARD

QUALIFIED SCHOOL CONSTRUCTION (TAXABLE)

REVENUE BOND, SERIES 2009

 

Bond                       Maturity          Credit          Coupon         CUSIP

Date                          Date                Rate              Rate

 

December 22, 2009    March 15, 2025           6.06%             1.75%                 730824 AA7

The Pointe Coupee Parish School Board, State of Louisiana (the "Issuer"), promises to pay, but solely from the source and as hereinafter provided, to:

 

FNBS INVESTMENTS, INC

3993 Howard Hughes Parkway Suite 250

Las Vegas, NV 89169

Tax ID #88-0484290

or registered assigns, on the Maturity Date set forth above, together with interest thereon, and premium, if any, from the Bond Date set forth above or the most recent interest payment date to which interest has been paid or duly provided for, at the Coupon Rate per annum set forth above, payable quarterly on March 15, June 15, September 15 and December 15 of each year, commencing March 15, 2010 (each an "Interest Payment Date").  The principal of this Bond, upon maturity or redemption, is payable in lawful money of the United States of America at the principal office of First Security Bank, in the City of Little Rock, Arkansas, or successor thereto (the "Paying Agent"), upon presentation and surrender hereof.

THIS BOND CONSTITUTES A "QUALIFIED SCHOOL CONSTRUCTION BOND' WITHIN THE MEANING OF SECTIONS 54A AND 54F OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").  SUBJECT TO THE LIMITATIONS OF SECTION 54A(c), A TAXPAYER IS ENTITLED TO A TAX CREDIT AGAINST FEDERAL INCOME TAX IMPOSED ON SUCH TAXPAYER FOR THE TAXABLE YEAR THAT INCLUDES THE CREDIT ALLOWANCE DATE.  THE TAX CREDIT UNDER SAID SECTIONS 54A AND 54F IS EQUAL TO 25% OF THE CREDIT RATE SPECIFIED HEREON MULTIPLIED BY THE PRINCIPAL AMOUNT OF THE BONDS HELD BY A TAXPAYER ON THE CREDIT ALLOWANCE DATE; PROVIDED, HOWEVER, THAT THE AMOUNT OF THE TAX CREDIT ALLOWED TO A TAXPAYER ON THE FIRST CREDIT ALLOWANCE DATE FOLLOWING THE ISSUANCE OF THIS BOND OR ON THE REDEMPTION OR MATURITY OF THIS BOND SHALL BE PRORATED AS PROVIDED IN SECTION 54A(b)(4) OF THE CODE.

"CREDIT ALLOWANCE DATE" AS USED HEREIN SHALL MEAN EACH MARCH 15, JUNE 15, SEPTEMBER 15 AND DECEMBER 15 ON WHICH THIS BOND IS OUTSTANDING.  SUCH TERM SHALL ALSO INCLUDE THE LAST DAY ON WHICH THIS BOND IS OUTSTANDING.

This Bond represents the entire issue of the Issuer's Two Million Five Hundred Thousand ($2,500,000) of Qualified School Construction Bonds Program (Taxable) Revenue Bonds, Series 2009 (the "Bonds"), said Bonds having been issued by the Issuer pursuant to a resolution adopted on December 17, 2009 (the "Resolution"), for the purpose of construction, rehabilitation or repair of public school facilities within the jurisdiction of the Issuer, including equipping of school facilities improved with Bond proceeds, under the authority conferred by Section 1430 of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority.

The Bonds shall not be subject to optional redemption prior to maturity.

This Bond is subject to Mandatory  Sinking Fund Redemption prior to maturity, including interest accrued to the redemption date on an annual basis commencing March 15, 2011, and continuing on each March 15 thereafter until maturity, in the principal amounts in the years specified as follows:
 

Date

Principal

(March 15)

Amount

2011

$145,000

2012

$150,000

2013

$150,000

2014

$155,000

2015

$160,000

2016

$160,000

2017

$165,000

2018

$165,000

2019

$170,000

2020

$170,000

2021

$175,000

2022

$180,000

2023

$180,000

2024

$185,000

2025

$190,000

This Bond is subject to extraordinary mandatory and optional redemption by the Issuer prior to its stated Maturity Dates as follows: 

(a)        To the extent that less than 100% of the "available project proceeds" of the Bonds (as defined in the QSCB Regulations) are expended for Qualified Purposes by the close of the 3-year period beginning on the Date of Issuance (or if an extension of such expenditure period has been received by the Issuer from the Secretary of the United States Treasury Department, by the close of the extended period) the Issuer shall redeem all of the non-qualified Bonds within 90 days after the end of such period;

(b)  Upon a Determination of Disqualification, the Issuer shall redeem all of the Bonds within 90 days.  Further, the Issuer shall pay to the Owner an amount to compensate the Owner for any lost tax credits from the date of the Event of Disqualification which led to such Determination of Disqualification.

(c)  Any redemption of Bonds pursuant to (a) or (b) above shall be at a redemption price of 100% of par.

Official notice of such call for redemption of this Bond, or any portion thereof, shall be given by the Paying Agent by means of first class mail, postage prepaid, by notice deposited in the United States mails not less than ten (10) days prior to the redemption date addressed to the Owner of this Bond at his address as shown on the Bond Register.

Upon the occurrence and continuation of an Event of Default, the Owner shall have all remedies available at law or in equity, including acceleration and mandamus.  Additionally, upon the occurrence and continuation of an Event of Default, the interest rate on the Bonds shall be increased to a per annum rate of interest equal to 9.80% per annum (the "Default Rate"); provided, however, the amount of interest payable by the Issuer shall be reduced by the amount of any tax credits, if any, which the Owner is entitled to receive during such period of default.  The Paying Agent shall provide prompt notice to the Owner of any event or occurrence of which it or its employees are aware that is, or with the passage of time, may become an Event of Default.

The Issuer shall cause to be kept at the principal corporate office of the Paying Agent a register (the "Bond Register") in which registration of the Bonds and of transfers of the Bonds shall be made as provided in the Resolution.  This Bond may be transferred, registered and assigned only on the Bond Register, and such registration shall be at the expense of the Issuer.  This Bond may be assigned by the execution of the assignment form hereon or by other instrument of transfer and assignment acceptable to the Paying Agent.  A new Bond will be delivered by the Paying Agent to the last assignee (the new registered owner) in exchange for this transferred and assigned Bond after receipt of this Bond to be transferred in proper form.

The Bonds shall be secured by and payable from (i) the excess of revenues of subsequent years above the statutory, necessary and usual charges in each of the Fiscal Years during which the Bonds are outstanding; and (ii) a pledge and dedication of the revenues received from the avails of the Constitutional Local Support Tax (items (i) and (ii) being collectively referred to herein as the "Revenues").  The Issuer, in the Resolution has also entered into certain other covenants and agreements with the registered owners of the Bonds for the terms of which reference is made to the Resolution.

This Bond shall not be valid or become obligatory for any purpose or be entitled to any security or benefit under the Resolution until the certificate of registration hereon shall have been signed by the Paying Agent.

It is certified that this Bond is authorized by and issued in conformity with the requirements of the Constitution and statutes of the State of Louisiana.  It is further certified, recited and declared that all acts, conditions and things required to exist, to happen and to be performed precedent to and in the issuance of this Bond to constitute the same legal, binding and valid obligations of the Issuer have existed, have happened and have been performed in due time, form and manner as required by law, and that the indebtedness of the Issuer, including this Bond, does not exceed the limitations prescribed by the Constitution and statutes of the State of Louisiana.

Any capitalized terms in this Bond which are not defined herein shall have the meaning assigned to such terms of the Resolution.

IN WITNESS WHEREOF, the Pointe Coupee Parish School Board has caused this Bond to be executed in its name by the facsimile signatures of the duly authorized President and Superintendent-Secretary of the Pointe Coupee Parish School Board, and the seal of said Issuer to be impressed or imprinted hereon, and this Bond to be dated December 22, 2009.

POINTE COUPEE PARISH SCHOOL BOARD

___________________________________           __________________________________

Linda D'Amico, Superintendent-Secretary            James Cline, President

[S E A L]

PAYING AGENT'S CERTIFICATE OF REGISTRATION

This Bond represents the entire issue of Bonds referred to in the within-mentioned Resolution.

FIRST SECURITY BANK,  as Paying Agent

By:__________________

Date of Registration                                                                           Frank Faust, Senior Vice

___________________                                                   President and Trust Officer

                                                           (FORM OF ASSIGNMENT)

 

For Value Received, the undersigned hereby sells, assigns and transfers unto ______________________________________the within Bond and all rights thereunder, and  hereby irrevocably constitutes and appoints    ______________________________________________,

 attorney, to transfer the within Bond on the books kept for the registration thereof, with full power of substitution in the premises.

Dated:_____________________________________

NOTICE:  The signature to this assignment must correspond with the name as it appears on the face of the within Bond in every particular, without alteration or enlargement or any change whatever.

Legal Opinion Certificate

I, the undersigned Superintendent-Secretary of the Pointe Coupee Parish School Board, Parish of Pointe Coupee, State of Louisiana, do hereby certify that the following is a true copy of the complete legal opinion of Breithaupt, Dunn, DuBos, Shafto & Wolleson, L.L.C., the original of which was manually executed, dated and issued as of the date of payment for and delivery of the original Bonds of the issue described therein and was delivered to Crews & Associates, Inc., representing the original purchasers thereof.

__________________________________
Linda D
'Amico, Superintendent-Secretary

                                                                          - - - -

Discussion/Action Regarding Teacher/Certificated Personnel Compensation for Reaching 2009 School Performance Scores.  Mr. Cline stated that when Rougon Elementary had exceeded their growth target, teachers received a stipend for doing so.  Superintendent D'Amico was requested to check into what could be done for Valverda and Upper Pointe Coupee for having met their growth target.  Mrs. D'Amico stated that last year, a State Flex Payment grant funded the stipend that was paid to Rougon Elementary teachers. A discussion followed regarding how to include stipends for reaching growth targets as a permanent compensation plan.  Mrs. D'Amico further stated that she had spoken to Mr. David Corona, Superintendent of the West Baton Rouge Parish School Board, and West Baton Rouge has a policy that addresses stipend incentives for schools that have reached their school performance growth targets.  A discussion ensued regarding the possibility of budgeting annually for stipend awards to include certificated personnel and instructional paraprofessionals for meeting or exceeding their school's state assigned school performance scores.

Mr. Thomas Nelson made a motion to authorize the Superintendent to come back in January to make a recommendation regarding personnel compensation for reaching school performance scores.

                                                                           - - - -

 

Authorization to Close the District 19 Sinking Fund Account to Fund Chillers for Pointe Coupee Central High School.
 

Mr. Frank Aguillard made the motion to close the District 19 sinking fund account to fund chillers at Pointe Coupee Central High School.  The motion was seconded by Mrs. Debbie Collins.  Unanimously carried.

                                                                           - - - -

Adoption of a Resolution Approving the Assignment from Merit Energy Company, L.L.C., ET AL to Energy Production Corporation.

Mr. Thomas Nelson made a motion, seconded by Mr. Kevin Hotard, to adopt a Resolution approving the assignment from Merit Energy Company, L.L.C., ET AL to Energy Production Corporation of all of assignor's rights, title and interest in and to state agency Lease No. 6128.  Unanimously carried.

                                             POINTE COUPEE PARISH SCHOOL BOARD

                                                                    RESOLUTION

A RESOLUTION APPROVING THE ASSIGNMENT FROM MERIT ENERGY COMPANY, L.L.C. ET ALL TO ENERGY PRODUCTION CORPORATION OF ALL OF ASSIGNOR'S RIGHT, TITLE AND INTEREST IN AND TO STATE AGENCY LEASE NO. 6128.

BE IT RESOLVED, BY THE POINTE COUPEE PARISH SCHOOL BOARD, in regular session convened, that it does approve that it does approve that certain Assignment, Conveyance and Bill of Sale dated effective October 1, 2009 (recovered in Conveyance Book 558, under Entry 129, Records of Pointe Coupee Parish, Louisiana and in Conveyance Book 491, under Entry 160, Records of West Baton Rouge Parish Louisiana) from Merit Energy Company, L.L.C., Merit Management Partners I, L.P., Merit Energy Partners III, L.P., Merit Energy Partners V, L.P., Merit Energy Partners VIII, L.P., Merit Energy Partners X. L.P., Merit Energy Partners B, L.P., Merit Energy Partners C-I, L.P., Merit Energy Partners C-II, L.P., Merit Energy Partners D-III, L.P., as Assignor, to Energy Production Corporation, as Assignee, of all of Assignor's right, title and interest in and to State Agency Lease No. 6128 dated effective August 13, 1973 from the State Mineral Board of the State of Louisiana on behalf of the West Baton Rouge and Pointe Coupee Parish School Boards (State Agency Lease No. 6128 being recorded in Conveyance Book 124, under Entry 54, records of West Baton Rouge Parish, Louisiana and in conveyance Book 112, under Entry 77, records of Pointe Coupee Parish, Louisiana).

BE IT FURTHER RESOLVED, that this approval is expressly granted subject to the condition that the Assignee accepts and will fulfill all terms and conditions of the said State Agency Lease No. 6128.

                                                                    CERTIFICATE

I, Linda D'Amico, Superintendent of the Pointe Coupee Parish School Board, hereby certify that the above constitutes a true and accurate copy of a resolution which, upon MOTION of Thomas Nelson, SECONDED BY Kevin Hotard, was adopted by the Pointe Coupee Parish School Board in regular session convened on December 17, 2009, and that a quorum was present and voting in favor of this Resolution, and that said Resolution is duly entered in the Minute Book of said Board and is now in full force and effect.
                                                                           - - - -

Adoption of a Resolution Approving the Assignment from Energy Production Corporation to Flagstone 1992, L.P.

Mr. Frank Aguillard made a motion, seconded by Mr. Kevin Hotard, to adopt a Resolution approving the assignment from Energy Production Corporation to Flagstone 1992, L.P. of all of assignor's right, title and interest in and to State Agency Lease No. 6182.  Unanimously carried.

                                             POINTE COUPEE PARISH SCHOOL BOARD

                                                                    RESOLUTION

A RESOLUTION APPROVING THE ASSIGNMENT FROM ENERGY PRODUCTION CORPORATION TO FLAGSTONE 1992, L.P. OF ALL OF ASSIGNOR'S RIGHT, TITLE AND INTEREST IN AND TO STATE AGENCY LEASE NO. 6128.

BE IT RESOLVED, BY THE POINTE COUPEE PARISH SCHOOL BOARD, in regular session convened, that it does approve  that certain Assignment, Conveyance and Bill of Sale dated effective October 1, 2009 (recovered in Conveyance Book 558, under Entry 130, Records of Pointe Coupee Parish, Louisiana and in Conveyance Book 491, under Entry 161, Records of West Baton Rouge Parish Louisiana) from Energy Production Corporation, as Assignor, to Flagstone 1992, L.P., as Assignee, of all of Assignor's right, title and interest in and to State Agency Lease No. 6128 dated effective August 13, 1973 from the State Mineral Board of the State of Louisiana on behalf of the West Baton Rouge and Pointe Coupee Parish School Boards (State Agency Lease No. 6128 being recorded in Conveyance Book 124, under Entry 54, records of West Baton Rouge Parish, Louisiana and in conveyance Book 112, under Entry 77, records of Pointe Coupee Parish, Louisiana).

BE IT FURTHER RESOLVED, that this approval is expressly granted subject to the condition that the Assignee accepts and will fulfill all terms and conditions of the said State Agency Lease No. 6128.

                                                                    CERTIFICATE

I, Linda D'Amico, Superintendent of the Pointe Coupee Parish School Board, hereby certify that the above constitutes a true and accurate copy of a resolution which, upon MOTION of Frank Aguillard SECONDED BY Kevin Hotard, was adopted by the Pointe Coupee Parish School Board in regular session convened on December 17, 2009, and that a quorum was present and voting in favor of this Resolution, and that said Resolution is duly entered in the Minute Book of said Board and is now in full force and effect.

                                                                           - - - -
 

Consider Adoption of a Cooperative Endeavor Agreement for the Park Behind Rosenwald Elementary School.  Superintendent D'Amico stated that she plans to meet with the Police Jury next month to discuss a cooperative agreement between the Pointe Coupee Parish School Board and the Police Jury regarding community access for the park behind Rosenwald Elementary School; the former agreement ended in 1999. 

Mr. Kevin Hotard made a motion, seconded by Mr. Brandon Bergeron, to defer this item until the January 2010 regular School Board meeting.  Unanimously carried.

                                                                           - - - -

School Board Meeting Dates 2010.  On a motion by Mr. Thomas Nelson, seconded by Mrs. Debbie Collins, the Board voted unanimously to set the 2010 regular School Board meetings for the fourth Thursday of each month, with the exception of the November and December meetings which have been set for the third Thursday, at 5:30 p.m. to be held at the School Board Office located at 337 Napoleon Street, in New Roads, LA, as the date, time and place of the 2010 regular School Board meetings.  A public notice will be published on January 7, 14, and 21, 2010 in the Pointe Coupee Banner.                                                                                                                                                       - - -

Election of Pointe Coupee Parish School Board Officers (President & Vice-President).

 President James Cline announced that the School Board had adopted a new succession procedure two years ago  for the election of President of the Pointe Coupee Parish School Board.  The procedure stated that the President of the School Board could not serve more than two consecutive terms and that the Vice-President would move into the presidential slot upon completion of the current president=s two-year term. Board member Chad Aguillard has been the Vice-President of the School Board for the past two years, and has agreed to serve as the next President.  Board member Frank Aguillard stated that when this was originally implemented, a few persons thought that it was not a good policy; however, the smooth transition, without any dissension at tonight's meeting is indicative that it is a good policy.

Vice President Chad Aguillard agreed to serve as the new President of the School Board, in accordance with the transition procedure, effective January 1, 2010.

Mr. Frank Aguillard nominated Mr. Brandon Bergeron for the office of Vice-President of the Pointe Coupee Parish School Board.  Mr. Thomas Nelson seconded the

Mr. James M. Cline declared that the floor was open for nominations for the office of Vice-President of the Pointe Coupee Parish School Board. motion and then moved to have the nominations closed. 

Mr. Brandon Bergeron was congratulated for becoming Vice-President of the School Board by acclamation and his term will begin on January 1, 2010.

Mr. Cline announced that serving as President of the Pointe Coupee Parish School Board was the most gratifying time that he had spent as a Board member.  He mentioned several  problems that the School Board had overcome over the past two years (i.e., the state Department of Education's takeover of Pointe Coupee Central High School, Hurricane Gustav, State Superintendent Paul Pastorek's "attack on the Louisiana School Board Association," the retirement Dr. Daniel Rawls and the immediate recruitment of Michael Lucia as Interim Superintendent, a tax renewal election, as well as the hiring of a new Superintendent, Linda D'Amico.  Mr. Cline stated "On top of all of this, we had to continue running a school system."  He mentioned that there are an increased number of certified teachers at each elementary school, the three-year-old program now being offered at the parish's elementary schools and the dual enrollment program at Livonia High School that allows students to earn up to 24 hours of college credit before they graduate from high school, a program Cline calls "tremendous" to offer students in the public school system. Mr. Cline also mentioned the two "in the works" construction projects that he spearheaded ($2.5 million for school renovations being paid for with Qualified School Construction Bonds QSCB), and the $2 million in Community Development Block Grant funds that will be used to provide roof repairs, air conditioning and repair of gyms in the schools. He also alluded to the most important accomplishments in school years 2008 and 2009- test scores are the highest that they have ever been, and all schools have achieved the prestigious SACS (Southern Association of Colleges and Schools) accreditation, and pre-kindergarten classes.  Mr. Cline stated that he has been committed to the Pointe Coupee Parish School System for thirty-seven years as a student, supporter, School Board member, parent, and also mentioned that his four children are being educated in the public school system.  Mr. Cline expressed that he is extremely proud of the fact that he has always felt that he considered the true needs of the students and schools in the parish, and wanted to take the time to thank every School Board member, the ones who voted for him and the ones who voted against him, for the opportunity to serve as the President of the Board.

                                                                           - - - -
 

Appointment of Executive Committee Members of the Pointe Coupee Parish School Board.  Prior to the appointment of Executive Committee Members, President-Elect Chad Aguillard stated that he has been part of the public school system, as he was one of the first graduates of Pointe Coupee Central High School.  He mentioned that it will be an honor to serve as President of the School Board, effective January 1, 2010, then formerly thanked each Board member for their vote of confidence.  Mr. Aguillard stated that there are a lot of things to "tackle" and that he will do his best for Pointe Coupee. He recognized his mother and father for their positive influence in his life.
 

President-Elect Aguillard stated that he requested that Frank Aguillard and Thomas Nelson serve as Executive Committee members of the Pointe Coupee Parish School Board, and that they had accepted.

 

Mr. Frank Aguillard and Mr. Thomas Nelson will serve as Executive Committee members from January 1, 2010 - December 31, 2010.

                                                                           - - - -

 

Remarks from the Superintendent.  Mrs. Linda D'Amico announced that Cherie Cazayoux was in charge of the United Way Campaign this school year, and that Mrs. Cazayoux had graciously provided "sweet" parties for Rosenwald, Valverda and the Central Office for having met their donation goals.  Superintendent D'Amico stated that the Fema representative predictions originally thought that $500,000 could be provided for damages sustained during Hurricane Gustav for the former location of LaBarre Elementary and the 1662 Morganza Highway School Board Office building.  After meeting with Fema representatives again, new figures are as follows: School Board Office $500,000 - $50,000 insurance claims and 10% cost share $405,000; expenses to secure site will be $4,500 for roof, $26,000 for mold remediation, and $20,000 for records, $354,500; LaBarre $207,000 less insurance 10%; $7-10,000 to secure the LaBarre Site, $200,000 buy equipment or renovate - a payout end is the state's job and the content final is not available.  Mrs. D'Amico reminded everyone that there will be a mandatory Professional Development Day for teachers at Livonia High School on Monday, January 4, 2010; students will return to school on Tuesday, January 5, 2010.  Superintendent D'Amico stated that schools will dismiss students at 11:30 a.m. on Friday, December 18, 2009, and that teachers can be dismissed after the buses leave the campus.  She requested that anyone wanting to conduct business at the Central Office do so before 12:00 noon on Friday, December 18, 2009.  Lastly, she wished everyone a Merry Christmas and to have happy and safe holidays!

                                                                           - - - -

 

Adjournment.  On a motion by Mr. Thomas Nelson, seconded by Mr. Frank Aguillard, the meeting adjourned at 6:46 p.m.
 

POINTE COUPEE PARISH SCHOOL BOARD

_________________________________

James M. Cline, President

_________________________________

Linda D. D'Amico, Superintendent

Secretary-Treasurer