2024-06-04

LINCOLN PARISH SCHOOL BOARD

Ruston, Louisiana

REGULAR SESSION

Tuesday, June 4, 2024 6:00 p.m.

The Lincoln Parish School Board met in Regular Session on Tuesday, June 4, 2024, 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 Phillips called the meeting to order and welcomed guests. Mr. Canterbury gave the invocation, and Mr. Phillips led in the Pledge of Allegiance to the American flag.

Mr. Phillips said there was a request to amend the agenda to consider two resolutions authorizing the incurring of debt and issuance of General Obligation Bonds for Ruston School District No. 1 and Choudrant School District No. 6. He asked Mr. Lucius McGehee, Municipal Advisor for Lincoln Parish School Board, to explain the need to move forward at this time in regards to these items. Mr. McGehee said that interest rates right now are declining a bit, and as the election has already taken place, it would be beneficial to have some flexibility on going to the market for the sale of bonds for Ruston School District No. 1 and Choudrant School District No. 6.

Upon a motion by Mr. Hancock, seconded by Mr. Anders, the Board voted by roll call 12-0 to amend the agenda adding two items of New Business: 9.7 To consider and take action with respect to adopting a resolution authorizing the incurring of debt and issuance of General Obligation Bonds, Series 2024, of the Ruston School District No. 1 of the Parish of Lincoln, State of Louisiana, and providing for other matters in connection therewith; and 9.8 To consider and take action with respect to adopting a resolution authorizing the incurring of debt and issuance of General Obligation Bonds, Series 2024, of the Choudrant School District No. 6 of the Parish of Lincoln, State of Louisiana, and providing for other matters in connection therewith.

Upon a motion by Mr. Anders, seconded by Mr. Hancock, the Board voted to adopt the agenda as printed with the addendum.

Upon a motion by Mr. Mitcham, seconded by Mr. Smith, the Board unanimously voted to approve the minutes of the Regular Session held on May 7, 2024, as presented.

Upon a motion by Mr. Smith, seconded by Ms. Doss, the Board unanimously voted to approve the minutes of the Special Called Session held on May 14, 2024.

Superintendent Ricky Durrett communicated that interviews were held on May 20-21, 2024, to fill vacancies for principals at Glen View Elementary and Hillcrest Elementary. The interview committee consisted of Justin Barron, Mandy Brown, Dr. Doris Lewis, Dana Talley, and Mary Wilks-Kilgore. John Young chaired the committee but did not vote. Mr. Durrett thanked the interview committee for their time and commitment.

The committee’s unanimous recommendation for the principal position at Hillcrest was Ms. Rebecca Sutherland. Mr. Durrett said that Ms. Sutherland taught at Hillcrest before serving as Curriculum Strategist, and then transitioning to Curriculum Coordinator for the last two years. She has done a tremendous job and we look forward to great things from her as principal at Hillcrest Elementary. He added that the faculty and staff are excited to have her there and look forward to her leadership.

Ms. Sutherland said that she was very excited for this opportunity to serve the students, faculty, families, and community members, and she looks forward to great things this year at Hillcrest.

Mr. Durrett said that the interview committee unanimously recommended Mr. Jordan Blachier for the principal position at Glen View Elementary. Mr. Durrett introduced Mr. Blachier and stated that he served as a teacher at Simsboro School for 9 years, Coordinating Teacher at Glen View Elementary for one year, and Elementary Director at Simsboro for the past two years. He added that Mr. Blachier will be an asset to GVE and will continue to lead that school in a positive direction.

Mr. Blachier thanked the committee and the Board for the opportunity and said that he looks forward to leading Glen View Elementary School. He began his education as a kindergartener at Glen View, and he looks forward to being back there working with the staff, students, and the families at Glen View.

Finance Committee Chairman George Mack, Jr. reported the committee met Thursday, May 23, 2024, at 11 a.m. to discuss two items for consideration. The committee approved two items to bring before the Board.

The first item was to request the Board approve budget revisions for fiscal year 2023-2024. He asked Chief Financial Officer Juanita Duke to speak to this item.

Ms. Duke said the revised budget was presented to the Finance Committee to bring changes that occurred during the year back to the Board in accordance with the original budget resolution. She added that there were no major changes or shifts in the original budget. Final revenues in the General Fund are estimated to be $67.6 million, approximately a 2.8% increase over the original budget, final expenditures of $61.6 million, an approximate 1.2% increase overall, and a net increase in fund balance estimated to be $4 million, a $594,000 increase over what was originally projected for the General Fund. Ending General Fund balance is estimated at $33.9 million, compared to $33.2 million originally estimated.

Special Revenue Funds budgets were also revised with final revenues of $42.5 million estimated, an approximate $5 million decrease over original projection mainly due to ESSR funds. When ESSR funds were initially budgeted, 100% of the remaining allocation was budgeted, but we are not expecting to utilize all of those funds this year. The remaining balance will be included in the new fiscal year for 2024-2025. The final estimated special revenue expenditures are $37.9 million, a decrease from the $40.4 million estimated originally. The net change in fund balance is estimated with a decrease of $2.2 million attributed to the one-time annual local tax supplement payment from the 2000 Ad Valorem Fund that the Board approved to be paid to salaried employees in June. The projected ending of the fund balance for the Special Revenue Fund is at $21.3 million, compared to $21.5 million originally budgeted.

Ms. Duke added that overall the MFP accounts for 31.6% of the total operating budget, sales and use taxes represent 26.4%, federal grants approximately 18.9%, property taxes are about 16.9%, and the remaining investment interests in other revenues are estimated about 6%.

Upon a motion by the Committee, the Board unanimously voted to approve the final revised budget for 2023-24 as presented.

The second item from the Committee was to discuss a possible agreement with the City of Ruston for Ruston High School Softball/Tennis. Mr. Durrett reported to the Board details regarding the Cooperative Endeavor Agreement with the City of Ruston. He requested board members offer direction on how to proceed regarding this matter. Discussion followed by board members with no action taken at this time.

Building & Grounds Committee Chairman Danny Hancock said the committee met Tuesday, June 4, 2024, at 5:00 to discuss one agenda item, to approve the Ruston High School Gym Project Substantial Completion. It is the Committee’s recommendation that the Board approve this item.

The Board unanimously approved the Ruston High School Gym Project Substantial Completion.

Ms. Duke shared the Lincoln Parish Sales and Use Tax Commission’s proposed budget for 2024-2025 that was approved at their May 21, 2024 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 2024-2025 budget for Lincoln Parish operations is $253,749. Of that budget, the estimated cost share for Lincoln Parish School Board is $108,275, which is an estimated 1.4% increase over last year’s budget. Ms. Duke recommended the Board approve the proposed budget. Mr. Mitcham commented that the Commission is very efficient and does an excellent job collecting and disbursing sales tax collections.

Upon a motion by Mr. Hancock, seconded by Mr. Mitcham, the Board unanimously voted to approve the 2024-2025 Lincoln Parish Sales and Use Tax Commission Proposed Budget as presented.

Maintenance Supervisor Ricky Edmiston requested the Board grant permission to advertise for bids for diesel and gasoline for the 2024-2025 school year. He reminded board members that each year we are required by state law to advertise for bids on materials and supplies for schools with an aggregate cost of $60,000.00 or more.

Upon a motion by Mr. Anders, seconded by Mr. Smith, the Board unanimously voted to grant permission to advertise for bids for diesel and gasoline for the 2024-2025 school year.

Mr. Edmiston then asked the Board to grant permission to advertise for bids for duplicating paper for July 1 – December 31, 2024.

Upon a motion by Mr. Anders, seconded by Mr. Canterbury, the Board unanimously voted to grant permission to advertise for bids for duplicating paper for July 1 – December 31, 2024.

Next Mr. Edmiston said the Ruston High School Band Department has ten instruments that are broken and too costly to repair. We are asking permission to declare these items as surplus and dispose of them in accordance with the state bid law and applicable school board policies.

Upon a motion by Ms. Doss, seconded by Mr. Mitcham, the Board unanimously voted to declare the above mentioned items as surplus and grant permission to dispose of them in accordance with state and local policies.

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 the Ruston 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 2024-2025.

Upon a motion by Mr. Smith, seconded by Ms. Doss, the Board unanimously voted that the Ruston Daily Leader be named as the Official Journal of the Lincoln Parish School Board, and that charges for the publication of official proceedings and notices be billed monthly.

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 from the previous year. The total to be distributed to our schools is $103,451. 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 Mr. Hancock, the Board unanimously voted to approve the Fall allocations for school allocations as outlined on the schedule presented.

Superintendent Durrett presented a resolution authorizing the incurring of debt and issuance of General Obligation School Bonds, Series 2024, for capital improvements in Ruston School District No. 1 of the Parish of Lincoln, State of Louisiana; and providing for other matters in connection therewith. He stated the resolution provided for all matters related to the bonds, including naming bond counsel, paying agent, etc. He recognized Grant Schlueter with Foley & Judell (bond counsel) and asked the Board to approve this resolution.

The following resolution was offered by Hunter Smith and seconded by Clark Canterbury:

RESOLUTION

A resolution authorizing the incurring of debt and issuance of Seventeen Million Five Hundred Thousand Dollars ($17,500,000) of General Obligation School Bonds, Series 2024, of Ruston School District No. 1 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 Ruston School District No. 1 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 2024, authorized by this Resolution in the total aggregate principal amount of Seventeen Million Five Hundred Thousand Dollars ($17,500,000), authorized at a special election held on April 27, 2024.

"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, 2025.

"Issuer" means the Ruston School District No. 1 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:

1. Bonds theretofore canceled by the Paying Agent or delivered to the Paying Agent for cancellation;

2. 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;

3. Bonds in exchange for or in lieu of which other Bonds have been registered and delivered pursuant to this Resolution; and

4. 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 Seventeen Million Five Hundred Thousand Dollars ($17,500,000) 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 6, 2024, 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 Seventeen Million Five Hundred Thousand Dollars ($17,500,000) of General Obligation School Bonds, Series 2024, of the Issuer, authorized at the said election held on April 27, 2024. 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, 2029. 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, 2025.

The Bonds shall bear interest at a rate or rates of interest (not exceeding 7.00% 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 appropriated, 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 constitutional 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 covenants, 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, Louisianais 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 4^th day of June, 2024.

/s/ Ricky Durrett /s/ Gregg Phillips

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. Canterbury, the Board unanimously voted to adopt a resolution authorizing the incurring of debt and issuance of General Obligation School Bonds, Series 2024, of the Ruston School District No. 1 of the Parish of Lincoln, State of Louisiana; and providing for other matters in connection therewith.

Next Mr. Durrett presented a resolution authorizing the incurring of debt and issuance of General Obligation School Bonds, Series 2024, for capital improvements in Choudrant School District No. 6 of the Parish of Lincoln, State of Louisiana; and providing for other matters in connection therewith. He stated the resolution provided for all matters related to the bonds, including naming bond counsel, paying agent, etc. He asked the Board to approve this resolution.

The following resolution was offered by Danny Hancock and seconded by Lynda Henderson:

RESOLUTION

A resolution authorizing the incurring of debt and issuance of Two Million Dollars ($2,000,000) of General Obligation School Bonds, Series 2024, of Choudrant School District No. 6 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 Choudrant School District No. 6 of the Parish of Lincoln, State of Louisiana, that: