LINCOLN PARISH SCHOOL BOARD
Ruston, Louisiana
REGULAR SESSION
Tuesday, June 6, 2023 6:00 p.m.
The Lincoln Parish School Board met in Regular Session on Tuesday, June 6, 2023, at 6:00 p.m. at the Lincoln Parish School Board Office, 410 South Farmerville Street, Ruston, Louisiana. Members present were Ms. Debbie Abrahm, Mr. Otha Anders, Mr. Clark Canterbury, Ms. Donna Doss, Mr. David Ferguson, Mr. Danny Hancock, Ms. Lynda Henderson, Mr. George Mack, Jr., Mr. Joe Mitcham, Mr. Gregg Phillips, Mr. Hunter Smith, and Dr. Danielle Williams.
President Mitcham called the meeting to order and welcomed guests. Ms. Henderson gave the invocation, and Ms. Abrahm led in the Pledge of Allegiance to the American flag.
Upon a motion by Mr. Anders, seconded by Mr. Canterbury, the Board voted unanimously to adopt the agenda as printed.
Upon a motion by Ms. Henderson, seconded by Ms. Abrahm and Mr. Hancock, the Board unanimously voted to approve the minutes of the Regular Session held on May 2, 2023, as presented.
Superintendent Ricky Durrett reminded the Board that on February 7, 2023, they were asked to grant permission to advertise and accept a bid to replace the turf at Ruston High School. Two bids were received on May 9, 2023. Mr. Durrett asked the Board to consider rejecting the bids at this time.
Upon a motion by Mr. Hancock, seconded by Mr. Smith and Ms. Doss, the Board unanimously voted to reject the bids for the Ruston High School football turf project.
Ms. Juanita Duke, Chief Financial Officer, presented a resolution authorizing the incurring of debt and issuance of $10,000,000 of General Obligation School Bonds, Series 2023, for capital improvements in Simsboro School District No. 3, as authorized by voters in the Simsboro District in the election held on April 29, 2023. She stated the resolution provided for all matters related to the bonds, including naming bond counsel, paying agent, etc. She recognized Brennan Black with Foley & Judell (bond counsel) being present for any questions. She then asked the Board to approve this resolution.
The following resolution was offered by Hunter Smith and seconded by Danny Hancock:
1. RESOLUTION
A resolution authorizing the incurring of debt and issuance of Ten Million Dollars ($10,000,000) of General Obligation School Bonds, Series 2023, of Simsboro School District No. 3 of the Parish of Lincoln, 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; and providing for other matters in connection therewith.
BE IT RESOLVED by the Parish School Board of the Parish of Lincoln, State of Louisiana, acting as the governing authority of the Simsboro School District No. 3 of the Parish of Lincoln, State of Louisiana, that:
SECTION 1. Definitions. As used herein, the following terms shall have the following meanings, unless the context otherwise requires:
"Agreement" means the agreement to be entered into between the Issuer and the Paying Agent pursuant to this Resolution.
"Bond" means any Bonds of the Issuer authorized to be issued by this Resolution, whether initially delivered or issued in exchange for, upon transfer of, or in lieu of any Bond previously issued.
"Bond Purchase Agreement" means the completed agreement for the purchase of all or a portion of the Bonds by and between the Issuer and the Underwriter with such additions, deletions, or amendments as shall be appropriate to describe the purchase of Bonds, including the principal maturities of the Bonds, the rate or rates of interest to be borne by the Bonds, the optional and/or mandatory redemption provisions and the conditions of the delivery thereof.
"Bond Register" means the records kept by the Paying Agent at its principal corporate trust office in which registration of the Bonds and transfers of the Bonds shall be made as provided herein.
"Bonds" means the Issuer's General Obligation School Bonds, Series 2023, authorized by this Resolution in the total aggregate principal amount of Ten Million Dollars
($10,000,000), authorized at a special election held on April 29, 2023.
"Code" means the Internal Revenue Code of 1986, as amended.
"Defeasance Obligations" means cash or Government Securities.
"Executive Officers" means, collectively, the President and the Secretary of the Governing Authority.
"Governing Authority" means the Parish School Board of the Parish of Lincoln, State of Louisiana.
"Government Securities" means direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by the United States of America, which are non-callable prior to their maturity, may be United States Treasury obligations such as the State and Local Government Series and may be in book-entry form.
"Interest Payment Date" means March 1 and September 1 of each year during the period the Bonds are outstanding, commencing March 1, 2024.
"Issuer" means the Simsboro School District No. 3 of the Parish of Lincoln, State of Louisiana.
"Outstanding" when used with respect to Bonds means, as of the date of determination, all Bonds theretofore issued and delivered under this Resolution, except:
2. Bonds theretofore canceled by the Paying Agent or delivered to the Paying Agent for cancellation;
3. Bonds for payment or redemption of which sufficient Defeasance Obligations have been theretofore deposited in trust for the owners of such Bonds, provided that if such Bonds are to be redeemed, irrevocable notice of such redemption has been duly given or provided for pursuant to this Resolution or waived;
4. Bonds in exchange for or in lieu of which other Bonds have been registered and delivered pursuant to this Resolution; and
5. Bonds alleged to have been mutilated, destroyed, lost or stolen which have been paid as provided in this Resolution or by law.
"Owner" or "Owners" when used with respect to any Bond means the Person in whose name such Bond is registered in the Bond Register.
"Paying Agent" means Argent Trust Company, in the City of Ruston, Louisiana, until a successor Paying Agent shall have been appointed pursuant to the applicable provisions of this Resolution and thereafter "Paying Agent" shall mean such successor Paying Agent.
"Person" means any individual, corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof.
"Record Date" for the interest payable on any Interest Payment Date means the 15th calendar day of the month next preceding such Interest Payment Date.
"Resolution" means this resolution authorizing the issuance of the Bonds, as it may be supplemented and amended.
"Underwriter" shall mean Stifel, Nicolaus & Company, Incorporated, of Baton Rouge, Louisiana, the original underwriter of the Bonds.
SECTION 2. Authorization of Bonds; Maturities. In compliance with the terms and provisions of Article VI, Section 33 of the Constitution of the State of Louisiana of 1974, Part II of Chapter 4 of Subtitle II of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority, there is hereby authorized the incurring of an indebtedness of Ten Million Dollars ($10,000,000) for, on behalf of, and in the name of the Issuer, for the purpose of financing capital expenditures for school purposes for the District, including constructing, acquiring and/or improving schools and other school related facilities, together with equipment and furnishings therefor, including, to the extent feasible, those specific school projects set forth in the “Capital Improvement Plan” approved by the School Board on February 7, 2023, title to which shall be in the public, and paying the costs of issuance thereof. To represent said indebtedness, this Governing Authority does hereby authorize the issuance of Ten Million Dollars ($10,000,000) of General Obligation School Bonds, Series 2023, of the Issuer, authorized at the said election held on April 29, 2023. The Bonds shall be dated the date of delivery, shall be numbered consecutively from R-1 upwards, shall mature on March 1 in each of the years and in the principal amounts as shall be set forth in the Bond Purchase Agreement, may be serial bonds or term bonds with mandatory call provisions, as set forth in the Bond Purchase Agreement, and shall mature no later than March 1, 2043. The unpaid principal of the Bonds shall bear interest from the date thereof or from the most recent Interest Payment Date to which interest has been paid or duly provided payable on March 1 and September 1 of each year, commencing March 1, 2024.
The Bonds shall bear interest at a rate or rates of interest (not exceeding 6.00% per annum) and shall be sold at such prices, all as set forth in the Bond Purchase Agreement.
The principal of the Bonds, upon maturity or redemption, shall be payable at the corporate trust office of the Paying Agent upon presentation and surrender thereof, and interest on the Bonds shall be payable by check 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.
During any period after the initial delivery of the Bonds in book-entry-only form when the Bonds are delivered in multiple certificates form, upon request of a registered owner of at least $1,000,000 in principal amount of Bonds outstanding, all payments of principal and interest on the Bonds will be made by wire transfer in immediately available funds to an account designated by such registered owner; CUSIP number identification with appropriate dollar amounts for each CUSIP number will accompany all payments of principal and interest, whether by check or by wire transfer.
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 3. Book-Entry Registration of Bonds. The Bonds shall be initially issued in the name of Cede & Co., as nominee for The Depository Trust Company ("DTC"), as registered owner of the Bonds, and held in the custody of DTC. The Secretary of the Issuer or any other officer of the Issuer is authorized to execute and deliver a Letter of Representation to DTC on behalf of the Issuer with respect to the issuance of the Bonds in "book-entry only" format. The terms and provisions of said Letter of Representation shall govern in the event of any inconsistency between the provisions of this Resolution and said Letter of Representation. Initially, a single certificate will be issued and delivered to DTC for each maturity of the Bonds. The Beneficial Owners will not receive physical delivery of Bond certificates except as provided herein. Beneficial Owners are expected to receive a written confirmation of their purchase providing details of each Bond acquired. For so long as DTC shall continue to serve as securities depository for the Bonds as provided herein, all transfers of beneficial ownership interest will be made by book-entry only, and no investor or other party purchasing, selling or otherwise transferring beneficial ownership of Bonds is to receive, hold or deliver any Bond certificate.
Notwithstanding anything to the contrary herein, while the Bonds are issued in book-entry only form, the payment of principal of, premium, if any, and interest on the Bonds may be payable by the Paying Agent by wire transfer to DTC in accordance with the Letter of Representation.
For every transfer and exchange of the Bonds, the Beneficial Owner may be charged a sum sufficient to cover such Beneficial Owner's allocable share of any tax, fee or other governmental charge that may be imposed in relation thereto.
Bond certificates are required to be delivered to and registered in the name of the Beneficial Owner under the following circumstances:
(a) DTC determines to discontinue providing its service with respect to the Bonds. Such a determination may be made at any time by giving 20 days' notice to the Issuer and the Paying Agent and discharging its responsibilities with respect thereto under applicable law; or
(b) The Issuer determines that continuation of the system of book-entry transfer through DTC (or a successor securities depository) is not in the best interests of the Issuer and/or the Beneficial Owners.
The Issuer and the Paying Agent will recognize DTC or its nominee as the Bondholder for all purposes, including notices and voting.
Neither the Issuer nor the Paying Agent are responsible for the performance by DTC of any of its obligations, including, without limitation, the payment of moneys received by DTC, the forwarding of notices received by DTC or the giving of any consent or proxy in lieu of consent.
Whenever during the term of the Bonds the beneficial ownership thereof is determined by a book entry at DTC, the requirements of this Resolution of holding, delivering or transferring the Bonds shall be deemed modified to require the appropriate person to meet the requirements of DTC as to registering or transferring the book entry to produce the same effect.
If at any time DTC ceases to hold the Bonds, all references herein to DTC shall be of no further force or effect.
SECTION 4. Redemption Provisions. The Bonds shall be subject to optional and/or mandatory redemption by the Issuer in the manner and pursuant to the procedures set forth in the Bond Purchase Agreement.
Official notice of such call of any of the Bonds for redemption will be given by first class mail, postage prepaid by notice deposited in the United States mails, or by accepted means of electronic communication, not less than twenty (20) days prior to the redemption date addressed to the registered owner of each bond to be redeemed at his address as shown on the registration books of the Paying Agent.
SECTION 5. Registration and Transfer. 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 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 the denomination of $5,000 or any integral multiple thereof within a single maturity. Neither the Issuer nor the Paying Agent shall be required to issue, register, transfer or exchange (i) any Bond during a period beginning at the opening of business on a Record Date and ending at the close of business on the Interest Payment Date, or (ii) any Bond called for redemption prior to maturity during a period beginning at the opening of business fifteen (15) days before the date of the mailing of a notice of redemption of such Bond and ending on the date of such redemption.
SECTION 6. Form of Bonds. The Bonds and the endorsements to appear thereon shall be in substantially the forms, as attached hereto as Exhibit A, subject to any changes as may be approved by the Executive Officers.
SECTION 7. Execution of Bonds. The Bonds shall be signed by the Executive Officers for, on behalf of, in the name of and under the corporate seal of the Issuer, which signatures and corporate seal may be either manual or facsimile.
SECTION 8. Pledge of Full Faith and Credit. The Bonds shall constitute general obligations of the Issuer, and the full faith and credit of the Issuer is hereby pledged for their payment. This Governing Authority does hereby obligate itself and is bound under the terms and provisions of law and the election authorizing the Bonds to impose and collect annually in excess of all other taxes a tax on all of the property subject to taxation within the territorial limits of the Issuer, sufficient to pay the principal of and the interest on the 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 Issuer.
SECTION 9. Sinking Fund. For the payment of the principal of and the interest on the Bonds, the Issuer has established a special fund, held by the regularly designated fiscal agent of the Issuer (the "Sinking Fund"), into which the Issuer will deposit the proceeds of the aforesaid special tax and no other moneys whatsoever (other than investment earnings thereon). The depository for the Sinking Fund shall transfer from the Sinking Fund to the Paying Agent at least one (1) day in advance of each Interest Payment Date, funds fully sufficient to pay promptly the principal and interest falling due on such date.
All moneys deposited with the regularly designated fiscal agent bank or banks of 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.
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 only to the Sinking Fund.
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, including any premium derived from the sale thereof, shall be deposited by the Issuer with its fiscal agent bank or banks to be used (i) for the purpose for which the Bonds are issued and/or (ii) for deposit in the Sinking Fund to be used to pay principal and interest coming due on the Bonds.
SECTION 11. Bonds Legal Obligations. The Bonds shall constitute legal, binding and valid obligations of the Issuer, and shall be the only representations of the indebtedness as herein authorized and created.
SECTION 12. Resolution a Contract. The provisions of this Resolution shall constitute a contract between the Issuer and its successors, and the 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 the Governing Authority or the Issuer as a result of issuing the Bonds.
No material 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 Owners of two-thirds (2/3) of the aggregate principal amount of the Bonds then outstanding; provided, however, that no modification or amendment shall permit a change in the maturity or redemption provisions of the Bonds, or a reduction in the rate of interest thereon, or in the amount of the principal obligation thereof, or affecting the obligation of the Issuer to pay the principal of and the interest on the Bonds as the same shall come due from the revenues appro- priated, pledged and dedicated to the payment thereof by this Resolution, or reduce the percentage of the Owners required to consent to any material modification or amendment of this Resolution, without the consent of the Owners of the Bonds.
SECTION 13. 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 constitu- tional or statutory provisions enacted after the date of this Resolution which validate or make legal any provision of the 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 14. Recital of Regularity. This Governing Authority having investigated the regularity of the proceedings had in connection with the Bonds herein authorized 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 is issued in conformity with the requirements of the Constitution and statutes of this State."
SECTION 15.Effect of Registration. The Issuer, the Paying Agent, and any agent of either of them may treat the Owner in whose name any Bond is registered as the Owner of such Bond for the purpose of receiving payment of the principal (and redemption price) of and interest on such Bond and for all other purposes whatsoever, and to the extent permitted by law, neither the Issuer, the Paying Agent, nor any agent of either of them shall be affected by notice to the contrary.
SECTION 16. Notices to Owners. Wherever this Resolution provides for notice to Owners of Bonds 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 Bonds, at the address of such Owner as it appears in the Bond Register. In any case where notice to Owners of Bonds is given by mail, neither the failure to mail such notice to any particular Owner of Bonds, 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 the equivalent of such notice. Waivers of notice by Owners shall be filed with the Paying Agent, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver.
SECTION 17. Cancellation of Bonds. All Bonds surrendered for payment, redemption, transfer, exchange or replacement, if surrendered to the Paying Agent, shall be promptly canceled by it and, if surrendered to the Issuer, shall be delivered to the Paying Agent and, if not already canceled, shall be promptly canceled by the Paying Agent. The Issuer may at any time deliver to the Paying Agent for cancellation any Bonds previously registered and delivered which the Issuer may have acquired in any manner whatsoever, and all Bonds so delivered shall be promptly canceled by the Paying Agent. All canceled Bonds held by the Paying Agent shall be disposed of as directed in writing by the Issuer.
SECTION 18. Mutilated, Destroyed, Lost or Stolen Bonds. If (a) any mutilated Bond is surrendered to the Paying Agent, or the Issuer and the Paying Agent receive evidence to their satisfaction of the destruction, loss or theft of any Bond, and (b) there is delivered to the Issuer and the Paying Agent such security or indemnity as may be required by them to save each of them harmless, then, in the absence of notice to the Issuer or the Paying Agent that such Bond has been acquired by a bona fide purchaser, the Issuer shall execute, and upon its request the Paying Agent shall register and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost, or stolen Bond, a new Bond of the same maturity and of like tenor, interest rate and principal amount, bearing a number not contemporaneously outstanding. In case any such mutilated, destroyed, lost or stolen Bond has become or is about to become due and payable, the Issuer in its discretion may, instead of issuing a new Bond, pay such Bond. Upon the issuance of any new Bond under this Section, the Issuer may require the payment by the Owner of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Paying Agent) connected therewith. Every new Bond issued pursuant to this Section in lieu of any mutilated, destroyed, lost or stolen bond shall constitute a replacement of the prior obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone and shall be entitled to all the benefits of this Resolution equally and ratably with all other Outstanding Bonds. Any additional procedures set forth in the Agreement, authorized in this Resolution, shall also be available with respect to mutilated, destroyed, lost or stolen Bonds. The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement and payment of mutilated, destroyed, lost or stolen Bonds.
SECTION 19. 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 (and redemption price) 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 cove- nants, agreements, and other obligations of the Issuer to the Owners of the Bonds shall thereupon cease, terminate, and become void and be discharged and satisfied, and the Paying Agent shall pay over or deliver all money held by it under this Resolution to the Issuer.
Bonds or interest installments for the payment of which money shall have been set aside and shall be held in trust (through deposit by the Governing Authority 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. Bonds shall be deemed to have been paid, prior to their maturity, within the meaning and with the effect expressed above in this Section if they have been defeased pursuant to Chapter 14 of Title 39 of the Louisiana Revised Statutes of 1950, as amended, or any successor provisions thereto.
SECTION 20. 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 by (a) filing with the Person then performing such function a certified copy of a resolution or ordinance giving notice of the termination of the Agreement and appointing a successor and (b) causing notice to be given to each Owner. 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 execute an appropriate Agreement with the Paying Agent for and on behalf of the Issuer in such form as may be satisfactory to said officers, the signatures of said officers on such Agreement to be conclusive evidence of the due exercise of the authority granted hereunder.
SECTION 21. 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 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 any 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 (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 Bonds in a manner which would cause the Bonds to be "private activity bonds".
SECTION 22. Post-Issuance Compliance. The Executive Officers and/or their designees are directed to establish, continue, and/or amend, as applicable, written procedures to assist the Issuer in complying with various State and Federal statutes, rules and regulations applicable to the Bonds and are further authorized to take any and all actions as may be required by said written procedures to ensure continued compliance with such statutes, rules and regulations throughout the term of the Bonds.
SECTION 23. Not Qualified Tax-Exempt Obligations . The Bonds are not designated as "qualified tax-exempt obligations" within the meaning of Section 265(b)(3) of the Code.
SECTION 24. Execution of Documents. In connection with the issuance and sale of the Bonds, the Executive Officers are each authorized, empowered and directed to execute on behalf of the Issuer such documents, certificates and instruments as they may deem necessary, upon the advice of bond counsel, to effect the transactions contemplated by this Resolution, the signatures of such persons on such documents, certificates and instruments to be conclusive evidence of the due exercise of the authority granted hereunder.
SECTION 25. Appointment of Underwriter. Stifel, Nicolaus & Company, Incorporated, of Baton Rouge, Louisiana is hereby appointed as underwriter in connection with the issuance and sale of all or any portion of the Bonds, any compensation to be subsequently approved by the Issuer by execution of the Bond Purchase Agreement and to be paid from the proceeds of the Bonds and contingent upon the issuance of the Bonds; provided that no compensation shall be due to said underwriter unless the Bonds are sold and delivered.
SECTION 26. Sale of Bonds; Bond Insurance. The Bonds are hereby authorized to be sold to the Underwriter, and the Executive Officers, or any of them, are hereby authorized to execute the Bond Purchase Agreement in form and substance satisfactory to Bond Counsel to the Issuer, provided that the sale of the Bonds is within the parameters set forth in this Resolution. The Bond Purchase Agreement may provide for the purchase of bond insurance in the event any Executive Officer, on behalf of the Issuer, finds and determines that the purchase of such bond insurance will be of benefit. In such event, the Executive Officers, or any of them, are hereby authorized to execute all documents and agreements necessary and appropriate in connection with obtaining and securing the bond insurance. After their execution and authentication by the Paying Agent, the Bonds shall be delivered to the Underwriter or their agents or assigns, upon receipt by the Issuer of the agreed purchase price.
The Executive Officers are each hereby empowered to deliver or cause to be executed and delivered all documents required to be executed on behalf of the Issuer or deemed by them necessary or advisable to implement this Resolution or to facilitate the sale of the Bonds.
SECTION 27. Publication. A copy of this Resolution shall be published
immediately after its adoption in one issue of the official journal of the Issuer.
SECTION 28. Continuing Disclosure. The Executive Officers are hereby empowered and directed to execute an appropriate Continuing Disclosure Certificate (substantially in the form set forth in the Appendix to the official statement issued in connection with the sale and issuance of the Bonds) pursuant to S.E.C. Rule 15c2-12(b)(5).
SECTION 29. Official Statement. The Issuer hereby approves the form and content of the Preliminary Official Statement, pertaining to the Bonds and hereby ratifies its prior use by the Underwriter in connection with the sale of the Bonds.
SECTION 30. Section 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 31. Effective Date. This Resolution shall become effective immediately. The foregoing resolution having been submitted to a vote, the vote thereon was as follows:
YEAS: Williams, Ferguson, Canterbury, Doss, Hancock, Mitcham, Smith, Phillips, Henderson, Anders, Mack, Abrahm
NAYS: None
ABSTAIN: None
ABSENT: None
And the resolution was declared adopted on this, the 6th day of June, 2023.
/s/ Ricky Durrett /s/ Joe Mitcham
Secretary President
Exhibits to this resolution have not been published. Exhibits are on file with the minutes of the Lincoln Parish School Board and are available for inspection during regular business hours.
Upon a motion by Mr. Smith, seconded by Mr. Hancock, the Board unanimously voted by roll call to adopt a Resolution authorizing the incurring of debt and issuance of General Obligation School Bonds, Series 2023, of the Simsboro School District No. 3 of the Parish of Lincoln, State of Louisiana; and providing for other matters in connection herewith.
Next Ms. Duke shared the Lincoln Parish Sales and Use Tax Commission’s proposed budget for 2023-2024 that was approved at their May meeting. Ms. Duke noted that the budget was prepared by Denise Griggs, Sales and Use Tax Commission Administrator, who is in attendance this evening. The 2023-2024 budget for Lincoln Parish operations is $245,290. Of that budget, the estimated cost share for Lincoln Parish School Board is $106,490, which is an estimated 13% increase over last year’s budget. Ms. Duke recommended the Board approve the proposed budget. Mr. Mitcham and Mr. Smith commented that the Commission is very efficient and does an excellent job collecting and disbursing sales tax collections.
Upon a motion by Mr. Smith, seconded by Mr. Anders, the Board unanimously voted by roll call to approve the 2023-2024 Sales and Use Tax Commission budget as presented.
Ms. Duke presented to the Board a resolution required for levying school board millage rates on taxable properties on the 2023 tax roll for Lincoln Parish. One change noted was the 1993 ad valorem tax that is being increased from 9.44 mills to 10 mills as approved by voters in the March 2022 election, renewing the tax for another 10 years. She also noted two changes recommended for debt service for the Ruston School District No. 1 and the Simsboro School District No. 3. The Ruston School District bond will decrease from 17.75 to 16.75 mills, and the Simsboro School District will increase from 5.95 to 11.50 mills. She reminded the Board that the Resolution they approved earlier in the meeting authorizing the sale of $10,000,000 in bonds also provides for the millage requirement to service the debt for the first payment that will come due in 2024. She said that all other rates remain the same, and recommended approval of the resolution.
RESOLUTION
BE IT RESOLVED, that the following millage rates are hereby levied on the 2023 tax roll on all property subject to taxation by the Lincoln Parish School Board:
Millage
Constitutional Tax (General Fund) 3.91 mills
Special Maintenance & Operation (General Fund) 4.92 mills
Special Repair & Equipment (Five-Mill) 4.92 mills
Parishwide Maintenance & Operation (1993 Ad Val) 10.00 mills
Parishwide Maintenance & Operation (2000 Ad Val) 8.48 mills
Ruston School District #1 (M&O) 2.33 mills
Simsboro School District #3 (M&O) 2.99 mills
Dubach School District #5 (M&O) 3.10 mills
Choudrant School District #6 (M&O) 2.99 mills
Bonded Debt:
Ruston SD #1 Bond 16.75 mills
Simsboro SD #3 Bond 11.50 mills
Choudrant SD #6 Bond 14.00 mills
BE IT FURTHER RESOLVED that the proper administrative officials of the Parish of Lincoln, State of Louisiana, be and they are hereby empowered, authorized, and directed to spread said taxes, as hereinabove set forth, upon the assessment roll of said Parish for the year 2023, and to make the collection of the taxes imposed for and on behalf of the taxing authority, according to law, and that the taxes herein levied shall become a permanent lien and privilege on all property subject to taxation as herein set forth, and collection thereof shall be enforceable in the manner provided by law.
The foregoing resolution was read in full, the roll was called on the adoption thereof, and the resolution was adopted by the following votes:
YEAS: Danielle Williams, David Ferguson, Clark Canterbury, Donna Doss, Danny Hancock, Joe Mitcham, Hunter Smith, Gregg Phillips, Lynda Henderson, Otha Anders, George Mack, Debbie Abrahm
NAYS: None ABSTAINED: None ABSENT: None
CERTIFICATE
I hereby certify that the foregoing is a true and exact copy of the resolution adopted at the board meeting held on June 6, 2023, at which meeting a quorum was present and voting.
Ruston, Louisiana, this 6th day of June, 2023.
________________________________________
Ricky Durrett, Secretary
Upon a motion by Mr. Smith, seconded by Mr. Canterbury, the Board unanimously voted by roll call to adopt the resolution levying millage rates for the 2023 tax roll.
In accordance with state law, the Board is required each year in June to name a newspaper to serve as the official journal to publish official proceedings and notices for the Lincoln Parish School Board. Ms. Duke communicated that theRuston Daily Leader is the only newspaper in Lincoln Parish eligible to be named as an Official Journal. She recommended the Board name the Ruston Daily Leader their official journal for fiscal year 2023-2024.
Upon a motion by Mr. Anders, seconded by Ms. Doss, the Board unanimously voted to name the Ruston Daily Leader as the official journal for fiscal year 2023-2024.
Ms. Duke presented the 2023-2024 employee salary schedules and pay rates. She stated that by law, the School Board is authorized to establish salary schedules by which to determine the salaries to be paid to teachers and all other school personnel. In accordance with Board policy, the Superintendent sets the salary of employees accordingly. Ms. Duke recommended approval and reminded board members that a copy of the salary schedules was included in the board packet. She noted that there are no adjustments for state increases in salary this year, but should any changes result from the current legislative session, we will bring amendments to the Board for approval.
Upon a motion by Mr. Smith, seconded by Ms. Henderson and Mr. Hancock, the Board unanimously voted to approve the 2023-2024 Employee Salary Schedules.
Ms. Duke reminded the Board that each year schools are allocated monies from the 1979 sales tax fund to purchase instructional supplies and presented a schedule of allocations for distribution. This allocation is the Fall Annual School allotment and is based upon the student enrollment as of October 1, 2022. The total to be distributed to our schools is $103,993.50. These funds are designated for library supplies, classroom supplies, office supplies, equipment repairs and expenses for student services, debate and speech, band, and kindergarten classrooms. She asked the Board for approval to make the distributions directly to the schools.
Upon a motion by Mr. Smith, seconded by Ms. Abrahm, the Board unanimously voted to approve the fall allocations for school instructional supply money as outlined on the attached schedule.
Mr. Durrett requested the Board grant permission to use the Construction Management at Risk Service (CMAR) for the Simsboro School District No. 3 construction. He explained that CMAR is a project delivery method now available that is a cost effective and efficient alternative to the traditional design-bid-build process. The CMAR method would allow the Board to select a qualified general contractor through an interview process. The CMAR method teams the owner, designer, and contractor together to work on the project from inception through completion. This collaboration allows projects to be built more efficiently and with reduced unexpected costs. Architect, Mike Walpole, added firsthand information about using the CMAR process and stated that this process is being used more and more, and is proving to be very successful.
Upon a motion by Mr. Hancock, seconded by Mr. Canterbury, the Board unanimously voted to grant permission to use the Construction Management at Risk Service (CMAR) for the Simsboro School District No. 3 Bond Construction.
Board members were asked by Mr. Young to study the following policy manual revision in preparation for the next meeting: GBA – Contracts and Compensation. He reported that these revisions to the Experience Credit and Advanced Degree sections will update our compliance with Bulletin 741. These sections are being changed to state how experience is calculated for employees who are hired from a nonpublic school or from an institution of higher learning. Formal action will be taken at the July 11, 2023 board meeting.
In her Personnel Report, Dr. Doris Lewis, Director of Human Resources, shared the following information:
1. Administrative Point of Reference:
Geoffrey Underwood, social studies teacher at Choudrant High to Assistant Principal at Choudrant High effective July 17, 2023, replacing Christopher Jones.
2. Retirement of Amy Carter, prekindergarten teacher at Simsboro, effective September 20, 2023.
3. Resignations of the following effective May 27, 2023, unless otherwise stated:
Katie Dupuy, speech therapist at Choudrant Elementary;
Shena Henderson, special education teacher at Glen View;
Shelby Pearce, School Mental Health Counselor at Glen View, effective
July 1,2023;
Sarah Cone, teacher at Hillcrest;
Rachael Gray, special education teacher at Ruston High; and
Amanda Young, health & physical education teacher/coach at Ruston
Junior High.
4. Termination of Dorlyn Woods, cafeteria technician at Ruston Junior High, effective May 12, 2023.
5. Retirement of Cynthia Finley, cafeteria manager at Glen View, effective August 1, 2023.
6. Resignation of Vanessa Beales, cafeteria technician at Ruston High,effective May 12, 2023.
Mr. Durrett presented a Discipline Report to the Board detailing information pertaining to students in in-school suspension, out-of-school suspension, and alternative placement for the 2022-2023 school year. Dr. Williams asked about students finishing a school year in alternative placement and beginning the next school year there. Mr. Durrett said there are a few students who will begin next school year in this manner. She also expressed concerns about these students transitioning back to their schools after placement. Mr. Durrett said the alternative site is staffed with administrators and teachers, and these students are also visited by their school’s mental health counselors.
Next, Mr. Durrett gave a report about the National Honor Society selection process. He told the Board that in the spring of 2022, at the request of Dr. Williams, Ruston High School formed a committee to look at the National Honor Society selection process. All committee members were asked to submit recommendations and three of them submitted recommendations. All three were implemented in the selection process and they were: 1) Hand deliver letters to all eligible students notifying them that they were eligible to apply for National Honor Society. 2) Add a minority grader, making a total of two graders. 3) Add an additional writing prompt so students have a choice. In addition, all committee members who submitted a recommendation suggested that the teacher recommendation remain a part of the selection process. This past year 600 students were given the letter notifying them they were eligible, 128 completed the application, and of those, 59 were selected. He added that Ruston High School has a National Honor Society, while Simsboro and Choudrant have Beta Clubs. Dr. Williams stated that she was a member on the committee and that not all members agreed on the teacher recommendation form remaining a part of the process. Mr. Ferguson added that this should not be a popularity contest. Dr. Williams requested that we make sure that we are following the constitution of the National Honor Society, and also look at the teacher recommendation form.
A sales tax report for the month ending May 2023 was presented by Ms. Duke. She stated that May collections were up 1% more compared to the same month last year. The total collections fiscal year-to-date had a 4.35% increase over the same period last year.
Ms. Duke also delivered the April 2023 financial update and reported total combined ending fund balance of $66.7 million, with $41.3 million in the General Fund and $25.3 million in Special Revenue funds. The General Fund’s unrestricted portion of fund balance is 31.1% of budgeted General Fund expenditures.
In the health plan update for April 2023, she reported total plan operating expenses of $4.6 million compared to $4 million last year-to-date. The change in net assets for the plan year is $219,000, with $93,000 positive change in the month of April.
In a report on bullying, Mr. Young stated that our policy has been revised several times, the most recent occurring in August of 2022. The policy includes the definition of bullying, the behavior that constitutes bullying, and also gives principals the latitude and authority to discipline students accordingly. Student handbooks provided notice to parents and students in regards to our anti-bullying stance and policy and this requires a signature verifying that they understand and have reviewed this information. In addition, employees receive mandatory bullying training each school year. In 2021-22, one year ahead of the state mandate, we implemented a bullying and anti-bullying program in our schools for grades K-6. The lessons were delivered by the district’s mental health counselors at each school. In February of 2023, a parish-wide curriculum was chosen to implement for the 2023-24 school year for students in grades 6-12 which focuses on the same components of the K-6 program.
Mr. Durrett stated that in the spring of 2021 through the spring of 2022, we began a Diversity Committee and the committee focus was on increasing the diversity of our qualified applicant pool. We did not have the committee the following school year. He said that this was a superintendent’s committee and told the Board that if they would like to do something going forward he would be open to suggestions. Mr. Ferguson said that his knowledge of diversity is equality for every person. Dr. Williams asked what the goal is for a Diversity Committee. Mr. Durrett asked Board members to communicate with him what they would like to see and then we can look at a plan going forward.
Kim Shackelford, Facilitator of Federal Programs, reminded the Board that at the December 6, 2022 meeting the LPSB approved a recommendation to purchase and install digital interactive playground systems in the parish. Trafera Technologies performed site visit surveys, and once the site surveys and quote process were completed, installation occurred at seven elementary school gyms. She reported that students had access to digital play during April and May, and these will also be used during Summer school in June. Dr. Williams asked about the cart component of the LU system. Ms. Shackelford said that mobile LUs can be moved and utilized in different locations and were purchased for the 3-5 sites.
In a Report of the Superintendent, Mr. Durrett noted the following information:
1. Summer School begins on Monday, June 12-30th with approximately 350 students attending. K-6 students are attending Glen View, 7-8 at Ruston Junior High and 9-12 are attending Ruston High School. High School students will be doing LEAP 2025 EOC reviews before they re-take their tests this summer.
2. Approximately 47 students are being bussed to Delta Community College for Jump Start Summers. These students will be take EMR classes, Welding, HVAC, and CNA. This is a great opportunity for these students to receive certifications and be ready to go following graduation.
3. The Superintendent Evaluations are in your portfolios. Please complete them and return to Mary Smith. This feedback is important and very much appreciated.
4. Dates for Board Meetings for the upcoming year are in your portfolios. Please look over those and let us know if you see any conflicts.
5. Our July meeting will be held on July 11th due to July 4th falling on a Tuesday this year.
Following additional discussion on various items, and there being no further business, upon a motion by Mr. Smith, seconded by Mr. Phillips, the meeting adjourned at 7:25 p.m.
__________________________________ ___________________________________
Ricky Durrett, Secretary Joe E. Mitcham, Jr., President