MINUTES

 

POINTE COUPEE PARISH SCHOOL BOARD

337 Napoleon Street

New Roads, LA  70760

 

REGULAR MEETING

Thursday, April 23, 2015

 

 

The Pointe Coupee Parish School Board met for their regular monthly meeting on Thursday, April 23, 2015, at 337 Napoleon Street in New Roads, Louisiana 70760. President Frank R. Aguillard, Jr., called the meeting to order at 5:30 p.m.

 

Mr. Brandon Bergeron was requested to lead everyone in the Pledge of Allegiance to the Flag of the United States of America.

 

Mr. Larry Bossier was requested to offer the invocation.

 

Board members present for roll call were: Chad Aguillard, Frank Aguillard, Brandon Bergeron, Bobby Jarreau, James Cline, Leslie Ann Grezaffi, Anita LeJeune and Thomas Nelson.

 

School Personnel in attendance were:  Linda D’Amico, Superintendent; Bridget Berry, Supervisor of 21st Century Community Learning; Lacey Bueche, Supervisor of Technology; Lisa D’Aquila, Supervisor of Personnel; Donald Fuselier, Director of Maintenance and Support Services; Kate Guillory, Supervisor of Child Nutrition; Karla Jack, Supervisor of Federal Programs & Secondary Education; Stephen Langlois, Chief Financial Officer; Karen Shaw, Supervisor of Head Start; Mary Wells, Supervisor of Special Education; Natalie Aguillard, Principal of Rosenwald Elementary; Myron Brown, Principal of Upper Pointe Coupee Elementary; Kim Canezaro, Principal of Valverda Elementary; Marcie Cazayoux, Principal of Rougon Elementary; and Stacy Gueho, Principal of Livonia High School.

 

- - - -

 

Expression of Sympathy.  On a motion by the entire Board and seconded by the entire Board, condolences were offered to the family of: 

 

Mr. Lloyd Baise, Sr., husband of Stephanie Baise, Cafeteria Worker at Livonia High School.

 

Mr. Raymond Marcel, husband of Melinda Brown Marcel, Computer Lab Paraprofessional at Upper Pointe Coupee Elementary.

 

Mr. James “Champ” Thacker, father of Laura Major, Pre-K Paraprofessional at Rougon Elementary.

 

Mrs. Vivian Guidry Thomas, mother of Barbara J. Baise, Cafeteria Worker at Valverda Elementary.

 

- - - -

 

Recognition of Teachers of the Year.  Mrs. Lisa D’Aquila, Supervisor of Personnel, announced it is a pleasure to recognize the Pointe Coupee Parish School Board’s 2016 Teachers of the Year.  She explained these teachers will go on to compete in the next level of completion in the fall of 2016.  Mrs. D’Aquila read the biographies of, Marijane Archibald, the Elementary School Level Teacher of the Year; Michael Brown, the Middle School Level Teacher of the Year; Annie Butler, the Middle/Junior High School Teacher of the Year; and, Misty Angelloz, the High School Teacher of the Year.  The Board acknowledged their accomplishment with a Certificate of Achievement Award and a $500.00 purchase requisition to purchase items for their classroom; family members in attendance were also recognized.  Superintendent D’Amico and President Frank Aguillard were honored to take pictures with the recipients for publication in the local journal, The Pointe Coupee Banner. 

 

- - - -

 

Consent Agenda.  On a motion by Mr. Thomas Nelson, seconded by Mr. Brandon Bergeron, the following consent agenda items were adopted.

 

Consider approval of the minutes from the regular School Board meeting of Thursday, March 26, 2015.

 

Consider approval of the minutes from the Executive Committee meeting of Thursday, April 16, 2015.

 

Consider approval of the minutes from the special School Board meetings of Thursday, April 20, 2015 and April 21, 2015.

 

Proclaim May 4-8, 2015 as Teacher Appreciation Week.

 

- - - -

 

 

Receive the Head Start Supervisor’s Monthly Report.   James Cline made a motion, seconded by Mrs. Anita LeJeune, to approve the Head Start Supervisor’s monthly report, along with the updated School Readiness Goals, prepared by Mrs. Karen Shaw, Pointe Coupee Parish School Board’s Head Start Supervisor.  The motion carried.

- - - -

 

Approval of Bid Advertisement for Child Nutrition Program.  On a motion by Mr. Chad Aguillard, seconded by Mrs. Anita LeJeune, the Board voted to approve the request from Kate Guillory, Child Nutrition Supervisor, to advertise bids for bread, milk, dry processed food, frozen food, non-food supply items, and equipment for school year 2015-2016.  The motion carried.

 

- - - -

 

Approval of Child Nutrition Summer Feeding for 2015.  Mr. Thomas Nelson made a motion, seconded by Mr. Brandon Bergeron, to approve summer feeding at Valverda Elementary School, Livonia High School, Rosenwald Elementary School, Rougon Elementary School, and Upper Pointe Coupee Elementary School, during the summer of 2015.  The motion carried.

 

- - - -

Discussion and/or Action Regarding Monthly Financial Information.    Mr. Chad Aguillard made a motion, seconded by Mrs. Leslie Grezaffi, to accept the monthly financial information presented by Mr. Stephen Langlois, Chief Financial Officer.  The motion carried.

- - - -

 

Approval of Bid Proposal/Resolution for General Construction Bonds.  The Board passed a Resolution in January 2015 requesting the Bond Commission to approve $1,000,000 in General Construction Bonds for the purpose of construction or rehabilitation of school system facilities.  Guaranty Bank provided a commitment letter and submitted a proposal for a15-year amortization period with 4.75% interest. 

 

The following Resolution was offered by Brandon Bergeron and seconded by Mr. Thomas Nelson:

 

RESOLUTION

A Resolution providing for the incurring of debt and issuance of One Million and 00/100 Dollars ($1,000,000) of Revenue Bonds, Series 2015, of the Pointe Coupee Parish School Board, Parish of Pointe Coupee, State of Louisiana; prescribing the form, terms and conditions of said Bonds; designating the date, denomination and place of payment of said Bonds; providing for the payment thereof in principal and interest; providing for the acceptance of an offer for the purchase of said Bonds; and providing for other matters in connection therewith.

            WHEREAS, the Pointe Coupee Parish School Board, Parish of Pointe Coupee, State of Louisiana (the "Issuer") desires to incur debt and issue One Million and 00/100 Dollars ($1,000,000) of its Revenue Bonds, Series 2015, in the manner authorized and provided by R.S. 39:1430, for the purpose of providing for the construction, renovation, repairing, equipping and rehabilitation of certain public school facilities within the Pointe Coupee Parish School System and to pay costs of issuance of the related financing; and

            WHEREAS, it is the intention of the Issuer that the Bonds be secured by and payable from a pledge and dedication of the Revenues (as defined herein); and

            WHEREAS, it is the desire of the Issuer to fix the details necessary with respect to the issuance of the Bonds and to provide for their authorization and issuance; and

            WHEREAS, it is the further desire of the Issuer to provide for the sale of the Bonds at the price and in the manner hereinafter provided.

            NOW, THEREFORE, BE IT RESOLVED, by the Pointe Coupee Parish School Board, Parish of Pointe Coupee, State of Louisiana, that:

            SECTION 1. Definitions. As used herein, the terms used herein shall have the meanings ascribed to such terms as set forth in Exhibit A attached hereto, unless the context otherwise requires.

            SECTION 2. Authorization of Bonds; Maturities. In compliance with the terms and provisions of the Act, and other constitutional and statutory authority, there is hereby authorized the incurring of an indebtedness of One Million and 00/100 Dollars ($1,000,000) for, on behalf of, and in the name of the Issuer, for the purpose of providing for the construction, renovation, repairing, equipping and rehabilitation of certain public school facilities within the Pointe Coupee Parish School System; and paying the costs of issuance of the Bonds, and to represent said indebtedness, the Issuer does hereby authorize the issuance of One Million and 00/100 Dollars ($1,000,000) of Revenue Bonds, Series 2015, of the Issuer. The Bonds shall be in fully registered form, shall be dated as of the date of delivery thereof and shall bear interest, payable on March 1 and September 1 of each year, commencing September 1, 2015 on the basis of a 360-day year consisting of twelve 30-day months at the rate per annum set forth below and shall be issued in the form of one (1) Term Bond as follows:

$1,000,000, 4.75% Term Bond, Due March 1, 2030

The principal and interest of the Bonds, upon maturity or redemption, shall be payable at the principal office of the Issuer by check of the Issuer to the Owner(s) (determined as of the close of business on the Record Date) at the address shown on the Bond Register or by wire transfer pursuant to directions provided by the Owner(s). 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. Upon final payment at maturity or redemption, the Bond shall be surrendered to the Issuer for cancellation.

            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 Secretary-Superintendent of the Issuer by manual signature.

            SECTION 3. Redemption Provisions. 

            (a)        Optional Redemption.  The Bonds are subject to optional redemption by the Issuer in whole or in part on any date, without penalty.

            (b)        Procedure/Notice of Optional Redemption.  Official notice of optional redemption shall be given by means of a first class mail, postage prepaid, by notice deposited in the United States mail not less than five (5) business days prior to the redemption date addressed to the Owner at the Owner’s address as shown on the Bond Register. 

            (c)        Mandatory Sinking Fund Redemption. The Bonds are subject to Mandatory Sinking Fund redemption on March 1 of each year at a price of par plus accrued interest to the redemption date, as follows:

Year

(March 1)

Principal Due

2016

$18,000

2017

41,000

2018

46,000

2019

46,000

2020

51,000

2021

51,000

2022

52,000

2023

57,000

2024

58,000

2025

59,000

2026

95,000

2027

99,000

2028

104,000

2029

109,000

2030

114,000

Any Bond which is to be redeemed only in part may be surrendered at the principal office of the Issuer and there shall be delivered to the Owner of such Bond a new Bond or Bonds of the same maturity and of any authorized denomination or denominations as requested by such Owner in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Bond so surrendered. Official notice of a call of any of the Bonds for redemption shall be given by the Issuer by U. S. first class mail, postage prepaid, not less than thirty (30) days prior to the redemption date, addressed to the Owner of each Bond to be redeemed at its address as shown on the Bond Register.

            SECTION 4. Registration. The Bond Register shall be kept by the Issuer. 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 Issuer. A new Bond will be delivered by the Issuer to the last assignee (the new Owners) in exchange for such transferred and assigned Bond after receipt of the Bond to be transferred in proper form.

            SECTION 5. Form of Bond. The Bonds and the endorsements to appear thereon shall be in substantially the form of Exhibit B attached hereto.

            SECTION 6. Execution of Bonds. The Bonds shall be signed by the President and Superintendent-Secretary for, on behalf of, in the name of and under the corporate seal impression of the Issuer, which signatures and corporate seal may be either manual or facsimile.

            SECTION 7. Pledge and Dedication of Revenues The Bonds shall be secured by and payable from (i) a pledge of 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) (the "Constitutional Tax") for the purpose of supporting public schools in Pointe Coupee Parish; and (ii) other lawfully available funds of the School Board, including, to the extent available, excess tax revenues and State Minimum Foundation Payments (the "Revenues"). The Issuer hereby irrevocably pledges, assigns and dedicates the Constitutional Tax and the Revenues as security for repayment of principal and interest on the Bonds,

Until the Bonds shall have been paid in full in principal and interest, the Issuer hereby obligates itself and its successors in office, to budget annually a sum of money sufficient 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 collect other revenues within limits prescribed by law, sufficient to pay the principal of and interest on the Bonds after payment in such years of all statutory, necessary and usual charges for the current year.

            SECTION 8.  Fund and Accounts.

                        A.         Project Fund.  The Issuer hereby establishes and shall maintain with the Purchaser a special fund known and designated as the “Series 2015 Project Fund” (the “Project Fund”) into which shall be deposited the proceeds from the sale of the Bonds.  Monies in the Project Fund shall be disbursed to the Issuer for (i) the payment of all costs incurred in connection with the Project; and (ii) costs of issuance of the Bonds (“Costs of Issuance”).

                                    Purchase price installments of the Bonds shall be made by Purchaser to or on behalf of the Issuer from time to time as the construction of the Project progresses, subject to the satisfaction of the following conditions:

                                    In connection with each disbursement, the Issuer shall submit a requisition in the form attached hereto as Exhibit C, which requisition shall include:

                                                (a)        The dollar amount of the purchase price requested to be paid, and the amount of the purchase price that is to be applied towards the purchase price of the Bonds;

                                                (b)        Copies of such invoices, statements, documents, certificates, endorsements and opinions as the Purchaser may reasonably require to substantiate the Costs of the Project for which payment is requested; and

                                                (c)        If the requisition is the final requisition for the Bonds, a statement to that effect.

            Upon certification by the Issuer that all costs incurred in connection with the Project and Costs of Issuance have been paid, any balance remaining in the Project Fund shall be applied towards reduction of the outstanding principal amount of the Bonds.

                        B.         Sinking Fund.  For the payment of the principal of and the interest on the Bonds and any additional parity debt obligations, there has been created a special fund known as “Revenue Bonds, 2015 Sinking Fund” (the “Sinking Fund”), said Sinking Fund being established and maintained with the Purchaser.  The Issuer shall deposit in said Sinking Fund upon receipt, but not later than February 1 of each year, proceeds of the Constitutional Tax fully sufficient to promptly pay the maturing principal and/or interest so falling due for such year (both march 1 and September 1 payments).  Purchaser is authorized to transfer from the Sinking Fund funds fully sufficient to pay promptly the principal and interest as they become due.

            All moneys deposited with the regularly designated fiscal agent bank or banks of the Issuer or the Purchaser under the terms of this Bond Resolution shall constitute sacred funds for the benefit of the Owners of the Bonds and are hereby pledged and assigned as security for repayment 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.

            All or any part of the moneys in the Sinking Fund shall, at the written request of the Issuer, be invested in accordance with the provisions of the laws of the State of Louisiana, in which event all income derived from such investments shall be added to the General Fund of the Issuer.

SECTION 9. Budget: Audit. As long as the Bonds are outstanding and unpaid in principal or interest, the Issuer shall prepare and adopt a budget prior to the beginning of each Fiscal Year and shall furnish a copy of such budget within thirty (30) days after its adoption to the Owner. Not later than one hundred eighty (180) days after the close of each Fiscal Year, the Issuer shall cause an audit of its books and accounts to be made by the Legislative Auditor or an independent firm of certified public accountants showing the receipts and disbursements made by the Issuer during the previous Fiscal Year. Such audit shall be available for inspection by any Owners, and a copy of such audit shall be furnished to the Purchaser.

 

            SECTION 10. Application of Proceeds. The Executive Officers are hereby empowered, authorized and directed to do any and all things necessary and incidental to carry out all of the provisions of this Resolution, to cause the necessary Bonds to be printed, to issue, execute and seal the Bonds, and to effect delivery thereof as hereinafter provided. The proceeds derived from the sale of the Bonds shall be deposited with the Issuer and applied for the purposes set forth in this Resolution.

            SECTION 11. Resolution a Contract. The provisions of this Resolution shall constitute a contract between the Issuer, or its successor, and the Owner(s) from time to time of the Bonds, and any such Owner(s) 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 the Issuer as a result of issuing the Bonds.

No modification or amendment of this Resolution, or of any Resolution amendatory hereof or supplemental hereto, may be made without the consent in writing of the Owner(s).

 

            SECTION 12. Severability; Application of Subsequently Enacted Laws. In case any one or more of the provisions of this Resolution or of the Bonds shall for any reason be held to be illegal or invalid, such illegality or invalidity shall not affect any other provisions of this Resolution or of the Bonds, but this 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 Resolution which validate or make legal any provision of this Resolution and/or the Bonds which would not otherwise be valid or legal, shall be deemed to apply to this Resolution and to the Bonds.

            SECTION 13. Recital of Regularity. The Issuer having investigated the regularity of the proceedings had in connection with the Bond and having determined the same to be regular, the Bonds shall contain the following recital, to-wit:

“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.”

            SECTION 14. Effect of Registration. The Issuer and any agent of the Issuer may treat the Owners in whose name any Bonds are registered as the Owners of such Bonds for the purpose of receiving payment of the principal of and interest on such Bond and for all other purposes whatsoever, and to the extent permitted by law, neither the Issuer, nor any agent of the Issuer shall be affected by notice to the contrary.

            SECTION 15. Notices to Owners. Wherever this Resolution provides for notice to Owners of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to each Owner of such Bond, at the address of such Owner as it appears in the Bond Register. In any case where notice to Owners is given by mail, neither the failure to mail such notice to any particular Owner, nor any defect in any notice so mailed, shall affect the sufficiency of such notice with respect to all other Bonds. Where this Resolution provides for notice in any manner, such notice may be waived in writing by the Owner or Owners entitled to receive such notice, either before or after the event, and such waiver shall be equivalent of such notice. Waivers of notice by Owners shall be filed with the Issuer, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver.

            SECTION 16. Cancellation of Bonds. All Bonds surrendered for payment, redemption, transfer, exchange or replacement shall be delivered to the Issuer and promptly canceled.

            SECTION 17. Discharge of Resolution; Defeasance. If the Issuer shall pay or cause to be paid, or there shall otherwise be paid to the Owners, the principal of and interest on the Bonds, at the times and in the manner stipulated in this Resolution, then the pledge of the money, securities, and funds pledged under this Resolution and all covenants, agreements, and other obligations of the Issuer to the Owners shall thereupon cease, terminate, and become void and be discharged and satisfied, and any amounts remaining in the Sinking Fund shall be transferred to the General Fund of the Issuer.

            Principal and interest installments for the payment of which money shall have been set aside and shall be held in trust (through deposit by the Issuer of funds for such payment or otherwise) at the maturity date thereof shall be deemed to have been paid within the meaning and with the effect expressed above in this Section if they are defeased in the manner provided by Chapter 14 of Title 39 of the Louisiana Revised Statutes of 1950, as amended.

SECTION 18. 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 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.

            SECTION 19. Arbitrage. The Issuer covenants and agrees that, to the extent permitted by the laws of the State of Louisiana, it will comply with the requirements of the Internal Revenue Code of 1986 and any amendment thereto (the “Code”) in order to establish, maintain and preserve the exclusion from “gross income” of interest on the Bonds under the Code. The Issuer further covenants and agrees that it will not take any action, fail to take any action, or permit any action within its control to be taken, or permit at any time or times any of the proceeds of the Bonds or any other funds of the Issuer to be used directly or indirectly in the manner, the effect of which would be to cause the Bonds to be “arbitrage bonds” or would result in the inclusion of the interest on any of the Bonds in gross income under the Code, including, without limitation, (i) the failure to comply with the limitation on investment of Bond proceeds or (ii) the failure to pay any required rebate of arbitrage earnings to the United States of America or (iii) the use of the proceeds of the Bond in a manner which would cause the Bonds to be “private activity bonds”.

            The Executive Officers are hereby empowered, authorized and directed to take any and all action and to execute and deliver any instrument, document or certificate necessary to effectuate the purposes of this Section.

            SECTION 20. Qualified Tax-Exempt Obligations. The Bonds are designated as “qualified tax-exempt obligations” within the meaning of Section 265(b)(3) of the Code.  In making this designation, the Issuer finds and determines that:

            (a)        the Bonds are not “private activity bonds” within the meaning of the Code; and

            (b)        the reasonably anticipated amount of qualified tax-exempt obligations which will be issued by the Issuer and all subordinate entities in calendar year 2015 does not exceed $10,000,000.

            SECTION 21. Publication. A copy of this Resolution shall be published immediately after its adoption in one issue of the official journal of the Issuer.

            SECTION 22. Award of Bonds. The Issuer hereby accepts the offer to purchase submitted by the Purchaser as the initial Owner of the Bonds. The Bonds shall be delivered to said Purchaser upon the payment of the principal amount thereof.

            SECTION 23. Headings. The headings of the various sections hereof are inserted for convenience of reference only and shall not control or affect the meaning or construction of any of the provisions hereof.

            SECTION 24. Effective Date. This Resolution shall become effective immediately.

            The Resolution having been submitted to a vote, the vote hereon was as follows:

 

YEAS:              Chad Aguillard, Frank R. Aguillard, Jr., Brandon Bergeron, James M. Cline, Leslie Grezaffi, Bobby Jarreau, Anita LeJeune and Thomas Nelson

NAYS:              None

            ABSTAIN:         None

            ABSENT:          None

            THUS DONE, adopted and signed on this the 23rd day of April, 2015.

                                                                        __________________________________

                                                                        Frank R. Aguillard, Jr., President

                                                                        __________________________________

                                                                        Linda D'Amico, Superintendent-Secretary

STATE OF LOUISIANA

PARISH OF POINTE COUPEE

            I, the undersigned Superintendent-Secretary of the Pointe Coupee Parish School Board, Parish of Pointe Coupee, State of Louisiana, do hereby certify that the foregoing eight (8) pages constitute a true and correct copy of a resolution enacted by the School Board on April 23, 2015, authorizing the issuance of One Million and 00/100 Dollars ($1,000,000) of Revenue Bonds, Series 2015, of the Pointe Coupee Parish School Board, Parish of Pointe Coupee, State of Louisiana; prescribing the form, terms and conditions of said Bonds designating the date, denomination and place of payment of said Bonds; providing for the payment thereof in principal and interest; providing for the sale of said Bonds; entering into certain other covenants and agreements in connection with the security and payment of said Bonds; and providing for other matters in connection therewith.

            IN FAITH WHEREOF, witness my official signature and the impress of the official seal of said Pointe Coupee Parish School Board, Parish of Pointe Coupee, State of Louisiana, on this, the 23rd day of April, 2015.

                                                                        _________________________________

                                                                        Linda D'Amico, Superintendent-Secretary


EXHIBIT A

DEFINITIONS

“Act” means Section 1430 of Title 39 of the Louisiana Revised Statutes of 1950, as amended.

            “Authorized Denominations” shall mean $100,000 or any whole dollar amount in excess thereof.

            “Bond” or “Bonds” means the Issuer’s Revenue Bonds, Series 2015, authorized by this Resolution in the aggregate principal amount of One Million Dollars ($1,000,000), whether initially delivered or issued in exchange for, upon transfer of, or in lieu of any certificate previously issued.

            “Bond Register” means the records kept by the Issuer at its principal office in which registration of the Bonds and transfers of the Bonds shall be made as provided herein.

            “Bond Year” means the one year period ending on the principal payment date on the Bonds (March 1) of each year.

            “Code” means the Internal Revenue Code of 1986, as amended.

            "Constitutional 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).

            “Executive Officer” means, individually, the President or Superintendent-Secretary of the Issuer.

            “Fiscal Year” means the one-year accounting period initially ending June 30, 2015, and thereafter (in accordance with changes adopted by the Issuer in its fiscal year accounting procedures) ending December 31 of each year, or such other period as may be designated by the Issuer as its Fiscal Year.

            “Issuer” means the Pointe Coupee Parish School Board, Parish of Pointe Coupee, State of Louisiana.

            “Owner” or “Owners” when used with respect to any Bond means the Person in which name such Bond is registered in the Bond Register, initially, the Purchaser.

            “Person” means any individual, corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof.

            “Purchaser” means Guaranty Bank, New Roads, Louisiana.

            “Record Date” for the interest payable on any interest payment date means the 15th calendar day of the month next preceding each interest payment date.

            “Resolution” means this Resolution authorizing the issuance of the Bonds, as it may be supplemented and amended.

            “Revenues” means the excess of annual revenues of the Issuer above statutory, necessary and usual charges in each of the fiscal years during which the Bonds are outstanding, including without limitation and to the extent available, excess tax revenues and State Minimum Foundation Payments.

EXHIBIT B

FORM OF BOND

UNITED STATES OF AMERICA

STATE OF LOUISIANA

PARISH OF POINTE COUPEE

REVENUE BONDS, SERIES 2015

OF THE

POINTE COUPEE PARISH SCHOOL BOARD, PARISH OF POINTE COUPEE,

STATE OF LOUISIANA

Bond No.

Bond

Date

Principal Amount

Maturity Date

Interest Rate

 

 

 

 

 

R-1

___________, 2015

$1,000,000

March 1, 2030

4.75%

 

            The POINTE COUPEE PARISH SCHOOL BOARD, PARISH OF POINTE COUPEE, STATE OF LOUISIANA (the “Issuer”), promises to pay, but solely from the source and as hereinafter provided, to:

GUARANTY BANK

or registered assigns, on the Maturity Date set forth above, the Principal Amount set forth above, together with interest thereon from the Bond Date set forth above and at the Interest Rate per annum set forth above until said Principal Amount is paid, unless this Bond shall have been previously called for redemption and payment shall have been made or duly provided for as provided herein.  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 the Issuer, upon presentation and surrender hereof.  Interest on this Bond is payable by check mailed by the Issuer to the registered owner at the address as shown on the registration books of the Issuer.

            This Bond represents the entire authorized issue in the principal amount of One Million Dollars ($1,000,000) of Revenue Bonds, Series 2015, of the Issuer (the “Bonds”), said Bonds having been issued by the Issuer pursuant to a Resolution adopted on April 23, 2015 (the “Bond Resolution”), for the purpose of providing for the construction, renovation, repairing, equipping and rehabilitation of certain public school facilities and to pay costs of issuance of the related financing 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 be payable on March 1 and September 1 of each year, commencing September 1, 2015 on the basis of a 360-day year consisting of twelve 30-day months at the rate per annum set forth above.

            The principal and interest of the Bonds, upon maturity or redemption, shall be payable at the principal office of the Issuer by check of the Issuer mailed by the Issuer to the Owners (determined as of the close of business on the Record Date) at the address shown on the Bond Register, or by wire transfer pursuant to directions provided by the Owner(s).  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.  Upon final payment at maturity or redemption, the Bonds shall be surrendered to the Issuer for cancellation.

            No Bond shall be entitled to any right or benefit under the 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 Superintendent-Secretary of the Issuer by manual signature.

            The Bonds are subject to optional redemption by the Issuer in whole or in part on any date, without penalty.

            Official notice of optional redemption shall be given by means of a first class mail, postage prepaid, by notice deposited in the United States mail not less than five (5) days prior to the redemption date addressed to the Owner at the Owner’s address as shown on the Bond Register. 

            The Bonds are subject to Mandatory Sinking Fund redemption on March 1 of each year at a price of par plus accrued interest to the redemption date, as follows:

Year

(March 1)

Principal Due

2016

$18,000

2017

41,000

2018

46,000

2019

46,000

2020

51,000

2021

51,000

2022

52,000

2023

57,000

2024

58,000

2025

59,000

2026

95,000

2027

99,000

2028

104,000

2029

109,000

2030

114,000

            In the event a Bond to be redeemed is of a denomination larger than $100,000, a portion of such Bond may be redeemed.  Any Bond which is to be redeemed only in part shall be surrendered at the office of the Issuer and there shall be delivered to the Owner of such Bond a new Bond or Bonds of the same maturity and of any authorized denomination or denominations as requested by such Owner in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Bond so surrendered.  Official notice of such call of any of the Bonds for redemption shall be given by means of first class mail, postage prepaid, by notice deposited in the United States mails not less than thirty (30) days prior to the redemption date addressed to the Owner of each Bond to be redeemed at his address as shown on the Bond Register.

            The Issuer shall cause the Bond Register to be kept at the principal office of the Issuer.  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 Issuer. A new Bond will be delivered by the Issuer to the last assignee (the new Owner) in exchange for such transferred and assigned Bond after receipt of the Bond to be transferred in proper form.

            The Bonds shall be secured by and payable from the Constitutional Tax and other lawfully available excess Revenues as set forth in the Bond Resolution.

Until the Bonds shall have been paid in full in principal and interest, the Issuer hereby obligates itself and its successors in office, to budget annually a sum of money sufficient 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 collect other revenues within limits prescribed by law, sufficient to pay the principal of and interest on the Bonds after payment in such years of all statutory, necessary and usual charges for the current year.

THE BONDS ARE LIMITED AND SPECIAL OBLIGATIONS OF THE ISSUER AND DO NOT CONSTITUTE OR CREATE AN OBLIGATION, GENERAL OR SPECIAL, DEBT, LIABILITY OR MORAL OBLIGATION OF THE STATE, THE PARISH OF POINTE COUPEE, OR ANY OTHER POLITICAL SUBDIVISION THEREOF WITHIN THE MEANING OF ANY CONSTITUTIONAL OR STATUTORY PROVISIONS WHATSOEVER AND NEITHER THE FAITH OR CREDIT NOR THE TAXING POWER OF THE STATE OR OF ANY OTHER POLITICAL SUBDIVISION THEREOF IS PLEDGED TO THE PAYMENT OF THE PRINCIPAL OF, PREMIUM, IF ANY, OR THE INTEREST ON THE BONDS.  THE BONDS ARE NOT A GENERAL OBLIGATION OF THE ISSUER BUT ARE A LIMITED AND SPECIAL REVENUE OBLIGATION OF THE ISSUER PAYABLE SOLELY FROM THE PLEDGE AND DEDICATION OF THE CONSTITUTIONAL TAX AND THE REVENUES.

            It is certified that this Bond is authorized by and is 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 and the issue of which is forms a part, necessary 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 and the issue of which it forms a part, does not exceed the limitations prescribed by the Constitution and statutes of the State of Louisiana.

            IN WITNESS WHEREOF, the President and Superintendent-Secretary of the Pointe Coupee Parish School Board, Parish of Pointe Coupee, State of Louisiana, has caused this Bond to be signed and the corporate seal of the Issuer to be hereon impressed.


                                                                        POINTE COUPEE PARISH SCHOOL BOARD,

                                                                        PARISH OF POINTE COUPEE,

                                                                        STATE OF LOUISIANA

 

_________________________________  ______________________________

Linda D'Amico, Superintendent-Secretary           Frank R. Aguillard, Jr., President

 

[SEAL]

ISSUER’S CERTIFICATE OF AUTHENTICATION

            This Bond is one of the Bonds referred to in the within mentioned Bond Resolution.

POINTE COUPEE PARISH SCHOOL BOARD, PARISH OF POINTE COUPEE,

STATE OF LOUISIANA

Date of Registration:                                         By: _____________________________

___________, 2015                                                        Linda D'Amico, Superintendent-Secretary

 

ASSIGNMENT

            FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ___________________________________________________________________

              Please Insert Social Security

     or other Identifying Number of Assignee

-        -

_____________________________________________________________________ the

within Bond and all rights thereunder, and hereby irrevocably constitutes and appoints ____________________________________ attorney or agent to transfer the within Bond on the books kept for 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 upon the face of the within Bond in every particular, without alteration or enlargement or any change whatever.


*     *     *     *

EXHIBIT C

FORM OF REQUISITION

REVENUE BONDS, SERIES 2015

OF THE

POINTE COUPEE PARISH SCHOOL BOARD, STATE OF LOUISIANA

____________________________

____________________________

____________________________

            The Pointe Coupee Parish School Board, State of Louisiana (the "Issuer") submits this Principal Draw Requisition No. ___________ and requests, pursuant to a Resolution adopted by the Issuer on April 23, 2015, authorizing the issuance of the above captioned Bonds (the "Bond Resolution "), that a principal draw in the amount(s) set forth below be paid with respect to the Bonds for the payment of Costs of the Project, as defined in the Bond Resolution and as evidenced by the attached supporting documentation.

            Capitalized terms used in this request shall have the meanings assigned thereto in the Bond Resolution.

            The purchase price to be paid pursuant to this Requisition is to be applied towards the principal of the Bonds as follows:

Total principal draws paid prior to this date:              $                                 

Principal Draw Amount Requested
in this Requisition:                                             $                                 

Total Outstanding Principal Balance after
payment of this Requisition:                              $                                 

Requested Draw will be Final Draw                           ____Yes           ____No

The undersigned certifies on behalf of the Issuer that (a) each amount for which payment is requested is a "Cost of the Project" and has been properly incurred in connection with the acquisition, construction or installation of the Project, or is a cost of issuance of the Bonds, (b) no amount for which payment is requested has been paid through any previous drawing nor is any such amount the basis of any pending requisition, (c) this requisition contains no request for payment on account of any portion of such obligation which the Issuer is, as of the date hereof, entitled to retain under any retained percentage agreements, and (d) insofar as this requisition relates to labor, services, materials, supplies and/or equipment (1) such labor and/or services were actually performed in a satisfactory manner and (2) such materials, supplies and/or equipment were actually used in or about the Project or delivered to the Project for that purpose.

The undersigned further certifies on behalf of the Issuer that as of the date of this requisition there has occurred no Event of Default under the Bond Resolution and no condition which, with the giving of notice or lapse of time or both, would become an Event of Default with respect to the Bonds, and that as of the date of the request for disbursement all fees and expenses of the Purchaser in connection with the Bonds have been paid or will be paid from the proceeds of such disbursement.   

                                                                                    POINTE COUPEE PARISH SCHOOL Board,

                                                                                    STATE OF LOUISIANA

 

                                                                              By:                                                                       

                                                                                    Linda D'Amico, Superintendent-Secretary

 

SUPPORTING DOCUMENTATION

- - - -

 

Acceptance of Proposal for New Financial Software Package for School System. 

Mr. Stephen Langlois mentioned about a year and a half ago, the Board approved a Request for Proposal (RFP) process regarding a new financial software package to replace the DOS Pro-Com system currently in use; he further mentioned the PCPSB is the last school system in the state using this program from Methods, Inc.  Mr. Langlois stated four bids were received and he would like to recommend the Board go with E-Finance Plus Software from SunGard K-12 Education.  Mr. Langlois explained how this new system would be more efficient and user friendly with an employee portal accessibility component capable of requesting changes in payroll deductions, print latest check stubs and duplicate W-2 forms, etc. 

 

The Finance Committee met and it is their recommendation that the Board accept the proposal from E-Finance Plus Software from SunGard K-12 Education. 

 

Mr. Thomas Nelson made a motion to approve the recommendation to accept the proposal for new financial software for the school system from SunGard K-12 Education.  The motion was seconded by Mrs. Anita LeJeune.  Mr. Cline requested a roll call vote that resulted in the following action:

 

            YEAS:  Chad Aguillard, Frank Aguillard, Brandon Bergeron, Leslie Ann Grezaffi, Bobby Jarreau, Anita LeJeune and Thomas Nelson

            NAYS:  James Cline

            ABSTENTIONS:  NONE

 

The motion passed by a 7-1 vote of the School Board.

 

- - - -

 

Ratification of a Resolution for an Oil & Gas Lease.  Mr. Stephen Langlois stated at the November 2014 School Board meeting, the Board approved creating a resolution to send to the Mineral Board for an oil and gas lease for property owned by the Board in Livonia, Louisiana.  Mr. Charles Hardie, Attorney with Hammonds & Sills, has since created a Resolution; therefore, the School Board needs to ratify it to send to the Mineral Board.

 

The following Resolution was offered by Brandon Bergeron and seconded by Leslie Grezaffi:

 

 

RESOLUTION

 

            WHEREAS, the Pointe Coupee Parish school Board has received an application for an oil, gas and mineral lease on land more fully described in the attached Exhibit A and in which the Pointe Coupee Parish School Board has retained a mineral interest; and

 

            WHEREAS, pursuant to Louisiana Revised Statute 30:153, the Pointe Coupee Parish School Board desires to direct the Louisiana State Mineral Board to lease the rights to explore for oil, gas and other subsurface minerals on the land more fully described in Exhibit A.

 

            NOW, THEREFORE, BE IT RESOLVED that the Pointe Coupee Parish School directs the Louisiana State Mineral Board to advertise and solicit bids for a mineral lease of the property, as described I Exhibit A, pursuant to the provisions of Subpart A of Chapter 2, Title 30 of the Louisiana Revised Statues of 1950, as amended and other applicable law.

 

YEAS:              Chad Aguillard, Frank R. Aguillard, Jr., Brandon Bergeron, James Cline, Leslie Grezaffi, Bobby Jarreau, Anita LeJeune, and Thomas Nelson

NAYS:              None

ABSTAIN:         None

And this Resolution was declared adopted on the 23rd day of April 2015.

 

_________________________                __________________________

Linda D’Amico, Superintendent              Frank R. Aguillard, Jr., President

            Secretary-Treasurer

            Pointe Coupee Parish School Board

 

                        I HEREBY CERTIFY that the above is a true and correct copy of a Resolution adopted at a meeting of the Pointe Coupee Parish School Board, held in New Roads, Louisiana on the 23rd day of April, 2015, pursuant to due notice, at which meeting a quorum was present, and that said Resolution is duly entered into the Minute Book of the Pointe Coupee Parish School Board and is now in full force and effect this 23rd day of April, 2015.

 

                                                                                    Linda D’Amico, Secretary-Treasurer

                                                                                    Pointe Coupee Parish School Board

 

- - - -

 

Discussion and/or Action Regarding Current Teacher Salaries Requesting Consideration of Pay Raise Incentives for Teachers/Staff in the Parish of Pointe Coupee.  Ms. Lucy Boley, a high school English teacher, and Ms. Maggie Wave, an eighth grade math teacher, thanked the Board for allowing them an opportunity to address the Board.  Ms. Boley explained the first goal is to preserve and improve the quality of education as an entire school system working together universally to stabilize faculty and staff. The second goal is to formally ask permission to form a taskforce with one volunteer from the School Board to stand united and move forth in the right direction. Ms. Wave mentioned surrounding parish school systems are compensating competitively whereas the school system in Pointe Coupee’s salaries are not competitive and the system has experienced high employee turn-over.  She stated it is not just about a pay check, but creating a solution for our children. President Frank Aguillard recommended the creation of a Task Force Committee to meet periodically to determine ways the system could be able to increase salaries for employees.

 

- - - -

 

Discussion and/or Action Regarding Appraisal Received on School Board Owned Property. Mr. Stephen Langlois stated one appraisal was received for the property located at 1662 Morganza Highway (formerly the School Board Office). The Finance Committee recommends the approval of a Resolution declaring the property as surplus property to begin the process to proceed with sale negotiations.

 

Mr. Brandon Bergeron made a motion to declare the School Board owned property at 1662 Morganza Highway as surplus property to begin the process to proceed with sale negotiations.  The motion was seconded by Mr. James Cline.  The motion carried.

 

- - - -

 

Discussion and/or Action Regarding Possible Purchase of Property next to Valverda Elementary.   Mr. Brandon Bergeron announced the Finance Committee does not recommend purchasing the .6 acre property next to Valverda. No action was taken on this agenda item.

 

- - - -

 

Permission Granted to Advertise for Janitorial/Paper Supplies for the 2015-2016 School Year.  On a motion by Mr. Thomas Nelson, seconded by Mr. Brandon Bergeron, the Board granted permission to advertise for janitorial/paper supplies for the upcoming 2015-2016 school year, as requested by Mr. Donald Fuselier, Director of Maintenance and Support Services.

 

- - - -

 

Discussion Regarding Enlargement of Cafeterias.  Mrs. Anita LeJeune made a motion to table the agenda item regarding enlargement of cafeterias at Valverda Elementary, Rougon Elementary and Livonia High School, until a district-wide plan can be completed for construction and rehabilitation needs. The motion was seconded by Mr. Thomas Nelson.  The motion carried.

 

- - - -

 

Remarks from the Superintendent’s Office. Superintendent D’Amico stated it was nice to see many employees at the meeting and she hopes employees attend other School Board meetings.

 

- - - -

 

Adjournment.  On a motion by Mr. Thomas Nelson, seconded by Mr. Chad Aguillard, and having no objections, the meeting adjourned at   6:39 p.m.

 

- - - -

 

_________________________

Frank Aguillard, President

 

_________________________

Linda D’Amico, Superintendent