4735
Parish of Cameron
April 12, 2010
The Cameron Parish School Board met at its regular meeting on this date, members in attendance are: Loston McEvers, Dot Theriot, Marsha Trahan, Dwayne Sanner, Karen Nunez, Marvin Trahan and R. Scott Nunez.
The prayer and the pledge were led by Mrs. Karen Nunez and Mr. Loston McEvers.
On the motion of Mr. McEvers, seconded by Mrs. Trahan, the Board received a request from Dr. Todd Furman, parent of Grand Lake High School student, to add a permanent position of Board Certified Behavioral Analyst. The request was tabled until the June 14, 2010 meeting pending review of documents provided by the parent supporting the request.
On the motion of Mrs. Nunez, seconded by Mr. Nunez, the Board approved the Automated External Defibrillator (AED) Procedure Manual, as required by Louisiana Revised Statue 40:1236.13 and tabled updates to the Wellness Policy pending review by Forethought Consulting, as presented by the Superintendent.
On the motion of Mr. McEvers, seconded by Mrs. Nunez, the Board approved the board minutes of the regular meeting on March 8, 2010 as presented by the Superintendent.
On the motion of Mrs. Nunez, seconded by Mrs. Theriot, the Board received the report of documentation certifying Anna Laurel-Murphy as a Louisiana Public Notary with statewide jurisdiction as presented by the Superintendent.
On the motion of Mrs. Theriot, seconded by Mrs. Trahan, the Board approved the following Financial Issues:
Authorized the payment of the bills.
Consider Financial Statement and Reports of Current Investments as presented by Mrs. Smythe
Received monthly update on FEMA issues, with overall payments of $30,905,496.05 (Rita, Gustav and Ike payments) to date, per spread sheet; $6,819,873.85 in request for funds submitted to be paid as presented by the Superintendent and Mrs. Angie Styron.
On the motion of Mrs. Theriot, seconded by Mr. Nunez, the Board approved a resolution providing the issuance, sale and delivery of $1,383,000.00 in General Obligation Refunding Bonds of School District No. Fifteen with bonds sold to Chase Bank, as presented by Mr. Joseph Delafield, attorney. (Attachment #1)
On the motion of Mr. McEvers, seconded by Mrs. Nunez, the Board approved notice to LARMA (Louisiana Public Schools Risk Management Agency) that Cameron Parish School Board is seeking competitive quotes from the marketplace for the school district’s casualty package and is requesting five years’ loss runs as presented by the Superintendent.
On the motion of Mr. Sanner, seconded by Mrs. Theriot, the Board approved the sole bidder, Tommy Stoddard, for Alligator Egg Collection on the west side of parish for a three year term at $5.00 per egg for 1750 eggs. The Board approved re-advertising for bids for the Alligator Egg collection for the east side of the parish.
Bidder (west side of parish) Number of Eggs Price per Egg
Tommy Stoddard 1,75 $5.00
On the motion of Mrs. Theriot, seconded by Mrs. Nunez, the Board tabled the request from Durelle Allen with Allen and Kirmse for a right of way across Section 16.15.14 in Johnson Bayou and authorized the Superintendent to act on advisement from the District Attorney for preliminary work; then, receive comprehensive data on the issue from the District Attorney at the May 10th meeting as presented by District Attorney Cecil Sanner.
On the motion of Mr. Nunez, seconded by Mrs. Nunez, the Board adopted the AIA Document A201-2007 entitled “General Conditions of the Contract for Construction” for its construction projects which are publicly advertised and are a part of architectural services with the amendment for Article 7 entitled “Changes in the Work” as presented by the Superintendent. (Attachment #2)
On the motion of Mrs. Trahan, seconded by Mrs. Theriot, the Board approved the current bid activities as presented by Mr. James Hoffpauir, Project Manager.
Projects to be advertised in April/May, 2010
Removal of Temporary Administration Offices and Site Restoration -received - April 8, 2010
New Audrey Warehouse #2 and #3 - Bid Date - April 29, 2010
Grand Lake High School (Pre K-12) Roofing Project - Bid Date - May 5, 2010
B. Projects - bid date to be determined
Grand Lake School (PreK-12) Pole Barn - Advertisement date - April 15, 2010
Hackberry High School (PreK-12) Ancillary Buildings - architect to determine date
Johnson Bayou High School (PreK-12) Concession Stand/Restroom - architect to determine date
On the motion of Mrs. Theriot, seconded by Mrs. Nunez, the Board approved the low bidder for the Cameron Parish Schools Track Repairs for Johnson Bayou High School, Hackberry High School and South Cameron High School.
Bidder Asphalt & Associates *Bessette Development Hellas Construction Texas Sports
Comp 1 $ 65,650 $ 54,354 $ 82,900 $ 57,300
Comp 2 $ 260,481 $ 203,524 $ 362,200 $ 257,000
Base Bid 1 $ 326,131 $ 257,878 $ 445,100 $ 314,300
Alt #1 $ 123,321 $ 126,370 $ 105,200 $ 143,000
Comp 1 $ 65,000 $ 55,429 $ 81,900 $ 58,000
Comp 2 $ 570,176 $ 491,398 $ 568,600 $ 505,000
Base Bid 2 $ 635,176 $ 546,827 $ 650,500 $ 563,000
Alt #2 $ 87,388 $ 91,160 $ 78,300 $ 102,750
Base Bid3 $ 212,343 $ 217,737 $ 181,800 $ 217,500
Total Base Bid $1,173,650 $1,022,442 $1,277,400 $1,094,800
Unit Price 1 $ 42 $ 30.00 $ 17 $ 5
Unit Price 2 $ 115 $ 67.50 $ 40 $ 14
Unit Price 3 $ 22 $ 25.00 $ 28 $ 12
*Denotes low bidder
On the motion of Mrs. Nunez, seconded by Mrs. Trahan, the Board approved the low bidder for the Removal of Temporary Administration Offices and Site Restoration in Grand Lake.
Bidder Base Bid Alternate #1 Total Bid
Michael Keaveney $ 36,000 $131,000 $167,000
Wilkerson Transportation $ 38,000 $ 13,500 $ 51,500
Lewing Construction, Co. $ 36,306 $ 14,000 $ 50,306
Alfred Palma, LLC $ 29,900 $ 13,300 $ 43,200
Tomasi Brothers $ 10,915 $ 16,800 $ 27,715*
*Denotes low bidder
On the motion of Mrs. Trahan, seconded by Mrs. Nunez, the Board authorized the Superintendent to advertise for new bids and accept low bids on currently advertised projects due to requisite number of advertising days and a need to move forward on projects as presented by the Superintendent.
On the motion of Mr. Nunez, seconded by Mrs. Nunez, the Board authorized the issuance of requests for proposals for non-binding agreements for large loss, turnkey emergency restoration contractors for the purpose of immediate assistance from whichever company (ies) is available in the event of a disaster as presented by the Superintendent.
On the motion of Mr. McEvers, seconded by Mrs. Theriot, the Board authorized the Superintendent to advertise and accept low bidders on FEMA projects as presented by the Superintendent.
Permanent furniture and equipment - South Cameron High School
Permanent fencing - Cameron Parish School Board Central Administration Office
On the motion of Mrs. Nunez, seconded by Mr. Nunez, the Board approved the report of construction/ repair/ renovation issues:
Receive update on current FEMA, CDBG, and General Fund Construction, Repairs, and Renovations to permanent and temporary sites’ projects from Hoffpauir Architects, LLC, Cameron Parish School Boards’ Project Management Firm- James Hoffpauir, Architect, and Selena Cisneros, Engineer, Superintendent
On the motion of Mr. Nunez, seconded by Mrs. Trahan, the Board approved the 2009 school board members’ credit hours, per ACT 380 requirements - Superintendent
District 1 Marsha Trahan 9.00
District 2 Dwayne Sanner 7.00
District 3 R. Scott Nunez 8.00
District 4 Dorothy Theriot 9.00
District 5 Loston McEvers 10.00
District 6 Marvin Trahan 7.00
District 7 Karen Nunez 10.00
On the motion of Mr. Nunez, seconded by Mrs. Theriot, the Board approved the 2010-2011 School Calendar which allows for 4 evacuation/emergency days, as well as 2 additional in-service days that could be used to replace evacuation/emergency days, if needed, with the understanding that all unused, additional days would be returned to the calendar as holidays, following hurricane season, as presented by the Superintendent. (Attachment #3)
On the motion of Mrs. Trahan, seconded by Mr. McEvers, the Board approved Monday, May 10, 2010 as date of Ribbon Cutting for Cameron Parish School Board Administrative Office at 3:00 PM with Open House scheduled from 11:30 AM until 1:00 PM and 5:00 PM until 6:30 PM as presented by the Superintendent.
On the motion of Mrs. Trahan, seconded by Mr. Nunez, the Board tabled action on breath analyses procedures at specific school events, utilizing a third party vendor, pending feedback from the school administrators’ at the annual Discipline Committee meeting with committee meeting results to be reported at the June 14, 2010 meeting.
On the motion of Mr. Sanner, seconded by Mrs. Trahan, the Board approved the out-of-state travel request for Johnson Bayou High School to Moody Gardens, Galveston, Texas, to participate in Earth Day Activities on April 22, 2010, in school buses as presented by the Superintendent.
On the motion of Mr. Nunez, seconded by Mrs. Theriot, the Board approved of out-of-state travel for all Cameron Parish students in grades 4-6 to participate in the Annual P-3 Hurricane Hunter Aircraft Education Program on Tuesday, April 27, 2010, at the Southeast Texas Regional Airport, upon invitation of the National Weather Service as presented by the Superintendent.
On the motion of Mr. McEvers, seconded by Mrs. Nunez, the Board approved the Personnel Report as presented by the Superintendent.
On the motion of Mrs. Nunez, seconded by Mr. Nunez, the Board received a roster of bills filed to date for the current legislative session affecting elementary and secondary education as presented by the Superintendent.
On the motion of Mrs. Theriot, seconded by Mr. McEvers, the Board adjourned the regular school board meeting.
Personnel Recommendations: The following personnel items are recommended by the Superintendent
_____________________________________04-12-2010
Stephanie D. Rodrigue, Superintendent Date
Personnel Report
Continued Employment
Consider approving the annual continued employment resolution pursuant to LRS
745 of 1977 providing that a substitute or support employee shall have the same
probability for employment after the 2010 summer vacation period or another
holiday, as the substitute employee had prior to the beginning of the vacation
period - Superintendent
RESIGNATION FOR THE PURPOSE OF RETIREMENT
Teresa LeBlanc Hackberry High School, Teacher, effective May 27, 2010
Jeanne LaFleur Hackberry High School, Teacher, effective May 27, 2010
Parry LaLande South Cameron High School, Teacher, effective May 27. 2010
Matilda Ann Bertrand Central Office, Sweeper, effective June 30, 2010
RESIGNATION
Harriet Savoy Hackberry High School, Teacher, effective May 27, 2010
REQUEST FOR PAYMENT OF UP TO 25 DAYS ACCUMULATED SICK LEAVE
Angie Styron Central Office, Superintendent’s Secretary/FEMA Bookkeeper
Matilda Ann Bertrand Central Office, Sweeper
TRANSFER
Anna Laurel Murphy Central Office, Executive Administrative Assistant, effective July 1, 2010 (with FEMA Bookkeeping responsibilities to be handled under Contracted Services)
EXTENDED SICK LEAVE DAYS
Nicole Nunez Grand Lake High School, Lunchroom Tech, day, March 3, 2010
Elva Duhon Grand Lake High School, Bus Driver, days, March 19 - ½ day and March 31, 2010
Ashley Granger Grand Lake High School, LPN, days March 2, 9, 10, 11, 24 and 25, 2010
Geraldine Hendrix Grand Lake High School, Teacher, days, March 4(1/2 day), 5, 8, 9, 18, 22, 23, 24, 25 and 26, 2010
Shauntel Landreneau Grand Lake High School, Teacher, day, March 18, 2010
Debbie Mallet Grand Lake High School, Janitor, days, March 4, 8, 9, 10, 11, 12, 15, 16, 17, 18, 19, 22, 23, 24, 25 and 26, 2010
Cherie Myers Grand Lake High School, Teacher, day, March 23, 2010
Nicole Nunez Grand Lake High School, Lunchroom Tech, day, March 3, 2010
Sharon Picou Grand Lake High School, Teacher, days, March 2, 3 and 4, 2010
Jeanie Vick Grand Lake High School, Teacher, day, March 16, 2010
Kim Vidrine Grand Lake High School, Teacher, days, March 9, 19, 24, 25 and 26, 2010
Ruby Young Grand Lake High School, Teacher, days, March 1 and 2, 2010
Ashley Poole Hackberry High School, RN, March 1, 2010 - May 3, 2010
Allison Devall Hackberry High School, Teacher, March 29, 2010 thru May 27, 2010
Gingi Lockhart Hackberry High School, Teacher, days, March 15 - ½ day and March 18, 2010 - 1 day
Dot LaBove Hackberry High School, Bus Driver, days, March 24 and 25, 2010
Paulette Campbell Johnson Bayou High School, Teacher, day, March 3, 2010
Jackie Alleman South Cameron High School, Lunchroom Tech, day, March 10, 2010
Edward Cormier South Cameron High School, Teacher, days, March 9, 15, and 16, 2010
Virginia Jones South Cameron High School, Teacher, day, March 18, 2010
Cheryl McClutcheon South Cameron High School, Teacher, days March 10 and 15 - ½ days, March 22 and 25, 2010
Norma Pinch South Cameron High School, Teacher, day, March 8, 2010
Charlene Swire South Cameron High School, Sweeper, days, March 1, 2, 3, 4, 11, 15 and 16, 2010
Mary Lee Theriot South Cameron High School, Teacher, days, March 15, ½ days March 22 and 29, 2010
Amanda Trosclair South Cameron High School, Teacher, days, March 1, 4 and ½ day, 2010
REQUEST FOR MEDICAL LEAVE
Parry LaLande South Cameron High School, Teacher, March 24, 2010 thru May 27, 2010
ADVERTISE FOR NECESSARY POSITIONS
APPROVED:
_______________________________
Marvin Trahan, President
CAMERON PARISH SCHOOL BOARD
_______________________________
Stephanie D. Rodrigue, Superintendent
CAMERON PARISH SCHOOL BOARD
CAMERON PARISH SCHOOL BOARD |
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REVENUE AND EXPENSE REPORT AS OF MARCH 2010 |
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Cash Revenues: |
MTD |
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YTD |
Ad Valorem Taxes |
$285,922 |
|
$10,711,900 |
Tuition from Other Sources |
$0 |
|
$0 |
Bus Rentals/Transportation from Individual |
$3,048 |
|
$5,364 |
Interest on Investments |
$29,228 |
|
$181,773 |
Royalties/Leases/Right of Ways |
$200,068 |
|
$1,260,083 |
Rentals |
$0 |
|
$0 |
Contributions and Donations |
$1,346 |
|
$24,846 |
Medicaid |
$3,555 |
|
$57,520 |
Equalization |
$413,286 |
|
$3,127,283 |
Other Miscellaneous Revenue |
$0 |
|
$2,912 |
Other Restricted Revenue |
$0 |
|
$0 |
Special Education |
$0 |
|
$2,438 |
Educational Support (8G) |
$7,278 |
|
$44,855 |
PIP |
$0 |
|
$8,632 |
Other Restricted Revenues |
$13,374 |
|
$98,565 |
Revenue Sharing |
$0 |
|
$17,129 |
Other Restricted Revenues State |
$0 |
|
$0 |
Revenue In Lieu of Taxes |
$0 |
|
$50,818 |
FEMA |
$0 |
|
$0 |
Transfer Indirect Cost |
$849 |
|
$8,394 |
Insurance Proceeds |
$0 |
|
$675,081 |
CDL Loan |
$0 |
|
$1,099,283 |
Transfer In |
$0 |
|
$271,746 |
Total Revenue |
$957,954 |
|
$17,648,622 |
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Cash Expenditures: |
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Monthly Payroll |
$1,002,598 |
|
$7,819,577 |
Employee Benefits |
$368,331 |
|
$3,045,545 |
Purchased Services/Architect Fees/Other |
$15,191 |
|
$658,389 |
Repairs and Maintenance |
$70,187 |
|
$428,314 |
Insurance and Bonds |
$12,459 |
|
$1,917,427 |
Telephone, Travel, Postage |
$16,210 |
|
$107,739 |
Textbooks and Supplies |
$38,231 |
|
$532,604 |
Utilities and Gasoline |
$72,942 |
|
$355,869 |
Equipment, Furniture, Buildings, Vehicles |
$0 |
|
$555,868 |
Other Expenses |
$870 |
|
$753,659 |
Transfer Out |
$0 |
|
$0 |
Total Cash Expenditures |
$1,597,018 |
|
$16,174,990 |
Total Cash Operations |
($639,064) |
|
$1,473,632 |
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CD INVESTMENTS |
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BANK |
FUND |
TERM |
RATE |
AMOUNT |
SUB TOTAL |
CSB |
16TH SECTION |
365 |
2.20% |
$ 1,000,000.00 |
|
CSB |
16th SECTION |
180 |
1.54% |
$ 2,551,073.05 |
|
CSB |
16th SECTION |
180 |
1.00% |
$ 2,040,283.79 |
|
CSB |
16th SECTION |
365 |
1.00% |
$ 1,000,000.00 |
$ 6,591,356.84 |
CSB |
CHENIERE |
180 |
1.00% |
$ 2,214,417.54 |
$ 2,214,417.54 |
CSB |
GENERAL |
180 |
1.00% |
$ 500,000.00 |
|
CSB |
GENERAL |
180 |
1.30% |
$ 4,026,213.71 |
|
CSB |
GENERAL |
365 |
1.00% |
$ 1,000,000.00 |
$ 5,526,213.71 |
CSB |
PROTEST TAX |
365 |
1.54% |
$ 1,661,000.00 |
|
CSB |
PROTEST TAX |
180 |
1.00% |
$ 1,006,553.42 |
$ 2,667,553.42 |
CSB |
STURLESE |
180 |
1.30% |
$ 14,000.00 |
$ 14,000.00 |
CSB |
VASTAR |
180 |
1.30% |
$ 24,300.58 |
$ 24,300.58 |
|
TOTAL CD INVESTMENTS |
$ 17,037,842.09 |
$ 17,037,842.09 |
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CASH SAVINGS |
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FF |
GENERAL FUND |
|
1.25% |
$ 8,000,000.00 |
|
FF |
GENERAL FUND |
|
1.00% |
$ 1,002,819.00 |
|
FF |
CHENIERE |
|
1.25% |
$ 46,025.79 |
|
FF |
WORKMAN COMP |
|
1.25% |
$ 300,000.00 |
|
FF |
SPECIAL PROJECTS |
|
1.00% |
$ 427,292.63 |
|
FF |
PROTEST TAX |
|
1.25% |
$ 823,920.17 |
|
FF |
16TH SECTION |
|
1.25% |
$ 3,973,029.40 |
|
FF |
DISTRICT #4 TAX |
|
1.25% |
$ 285,884.11 |
|
CAP ONE |
DISTRICT #4 TAX |
|
0.48% |
$ 11,791.67 |
|
FF |
DISTRICT #5 TAX |
|
1.25% |
$ 302,114.08 |
|
CAP ONE |
DISTRICT # 10 TAX |
|
0.48% |
$ 60,053.64 |
|
FF |
DISTRICT #15 TAX |
|
1.25% |
$ 286,201.66 |
|
CAP ONE |
DISTRICT #15 TAX |
|
0.48% |
$ 15,930.05 |
|
CAP ONE |
DISTRICT #4 CONSTRUCTION |
|
0.48% |
$ 14,108.17 |
|
CAP ONE |
DISTRICT #5 CONSTRUCTION |
|
0.48% |
$ 60,218.32 |
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TOTAL CASH SAVINGS |
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$ 15,609,388.69 |
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LAMP INVESTMENTS |
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0.17% |
$ 16,868.48 |
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TOTAL ALL INVESTMENTS |
$ 32,664,099.26 |
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TOTAL INVESTMENTS BY FUND |
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DISTRICT #4 TAX |
$ 298,437.04 |
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DISTRICT #5 TAX |
$ 302,694.34 |
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DISTRICT #5 CONST |
$ 60,993.67 |
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DISTRICT #10 TAX |
$ 60,054.25 |
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DISTRICT #15 TAX |
$ 304,179.41 |
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WORKERS COMP |
$ 300,000.00 |
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DISTRICT #4 CONSTR |
$ 14,526.82 |
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16TH SECTION |
$ 10,572,593.21 |
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GENERAL FUND |
$ 14,532,277.17 |
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SPECIAL PROJECTS |
$ 427,630.67 |
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PROTEST TAX |
$ 3,491,927.45 |
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CHENIERE TAX PREPAY |
$ 2,260,484.65 |
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SCHOLARSHIP |
$ 38,300.58 |
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TOTAL |
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$ 32,664,099.26 |
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INVESTMENT TYPE |
% OF TOTAL |
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TOTAL LAMP INVESTMENTS |
0% |
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TOTAL CD INVESTMENTS |
52% |
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TOTAL SAVINGS |
48% |
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100% |
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Cameron Parish School Board |
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As of March 31, 2010 |
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Special School Projects and Bond Balances |
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Johnson |
South |
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Grand Lake |
Bayou |
Cameron |
Hackberry |
Total |
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School Projects |
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Ending Balance Projects 2/28/10 |
$ 70,163.78 |
$ 119,522.99 |
$ 119,522.99 |
$ 112,537.33 |
$ 421,747.09 |
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Current Month Activity |
$ 22.32 |
$ 39.07 |
$ 39.07 |
$ 39.07 |
$ 139.54 |
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Ending Balance Projects 3/31/10 |
$ 70,186.10 |
$ 119,562.06 |
$ 119,562.06 |
$ 112,576.40 |
$ 421,886.63 |
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Need to move $5406 to GF on Investment Reports |
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District #4, #5, # 10 Bond Balance |
Fund 804 |
Fund 805 |
Fund 610 |
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Ending Balance 2/28/10 |
$ 16,043.65 |
$ 60,991.09 |
$ 61,467.07 |
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$ 138,501.81 |
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Current Month Activity |
$ (1,517.50) |
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$ (1,517.50) |
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Current Month Activity |
$ 0.67 |
$ 2.58 |
$ 2.57 |
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$ 5.82 |
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Ending Balance 3/31/10 |
$ 14,526.82 |
$ 60,993.67 |
$ 61,469.64 |
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$ 136,990.13 |
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Total |
$ 84,712.92 |
$ 180,555.73 |
$ 181,031.70 |
$ 112,576.40 |
$ 558,876.76 |
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Attachment #1
Cameron Louisiana
April 12, 2010
The Cameron Parish School Board, State of Louisiana, met in regular public session at its regular meeting place at 510 Marshall Street, Cameron, Louisiana, at 4:00 o’clock p.m. on April 12, 2010, pursuant to written notice given to each and every member thereof and duly posted in the manner required by law.
President, Marvin Trahan, called the meeting to order and on roll call, the following members were present:
Dwane Sanner, Marsha Trahan, Loston McEvers, Marvin Trahan, Karen Nunez, Dorothy Theriot, and R. Scott Nunez
ABSENT: None
Stephanie D. Rodrigue, Board Secretary, also attended. The meeting was called to order and the roll called with the above results.
Thereupon, the following resolution was then introduced, and pursuant to motion made by Dorothy Theriot and seconded by R. Scott Nunez, was adopted by the following vote:
YEAS: Dwayne Sanner, Marsha Trahan, Loston McEvers, Marvin Trahan, Karen Nunez, Dorothy Theriot and R. Scott Nunez
NAYS: None
ABSENT: None
NOT VOTING: None
BOND RESOLUTION
A resolution providing for the issuance, sale and delivery of ONE MILLION THREE HUNDRED EIGHTY-THREE THOUSAND AND NO/100 ($1,383,000) DOLLARS General Obligation Refunding Bonds of School District No. Fifteen of Cameron Parish, Louisiana, 2010 Series; prescribing the form, fixing the details and providing for the rights of the owners thereof; providing for payment of the principal of and interest on such bonds and the application of the proceeds thereof to the refunding of certain General Obligation School Bonds of the Issuer; and providing for other matters in connection therewith.
WHEREAS, School District No. Fifteen of Cameron Parish, Louisiana (the “District”) held an election on January 15, 2000 within said District, pursuant to which the District issued $3,000,000 of its General Obligation School Bonds, Series 2000, dated April 1, 2000 on original issue, of which $1,355,000 is currently outstanding (the “Outstanding Bonds”) which Outstanding Bonds are payable from a pledge and dedication of that portion of the net avails or proceeds of ad valorem taxes levied on all properties subject to taxation within the District, all in accordance with Article VI, Section 33 and Article VII, Section 26(E) of the Constitution of the State of Louisiana, and those portions of Part II of Article VII of the Constitution of 1974 of the State of Louisiana not repealed by the 1977 Louisiana Legislature, and Subpart A of Part III of Chapter 4 of Sub-Title II of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and all other laws on the same subject matter; and
WHEREAS, the Cameron Parish School Board, State of Louisiana, governing authority of the District has found and determined that currently refunding all of the Outstanding Bonds, consisting of those bonds which mature on April 1, 2011 to April 1, 2015, inclusive (the “Refunded Bonds”), would be advantageous to the District;
WHEREAS, the Cameron Parish School Board has adopted a preliminary resolution on February 1, 2010, expressing its intention to issue general obligation refunding bonds of the District in an amount not to exceed $1,500,000 pursuant to the Act;
WHEREAS, on March 18, 2010, the State Bond Commission gave final approval and granted authority for issuance of the Bonds in the principal amount not exceeding $1,500,000;
WHEREAS, pursuant to Chapter 14-A of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority, it is now the desire of the District to adopt this Bond Resolution in order to provide for issuance by the District of $1,383,000 principal amount of its General Obligation Refunding Bonds, 2010 Series (the “Bonds”), for the purpose of currently refunding the Refunded Bonds, to fix the details of the Bonds and to sell the Bonds to the purchasers thereof;
WHEREAS, it is further necessary to provide for application of the proceeds of the Bonds and to provide for other matters in connection with payment or redemption of the Refunded Bonds;
WHEREAS, in connection with issuance of the Bonds, it is necessary that provision be made for payment of the principal, interest and redemption premium, if any, of the Refunded Bonds described in Exhibit A hereto, and to provide for the call for redemption of the Refunded Bonds, pursuant to a Notice of Call for Redemption;
NOW, THEREFORE, BE IT RESOLVED by the Cameron Parish School Board, State of Louisiana, acting as the governing authority of the District, that:
ARTICLE I
DEFINITIONS AND INTERPRETATION
SECTION 1.1. Definitions. The following terms shall have the following meanings in this resolution unless the context otherwise requires:
“Act” shall mean Chapter 14-A of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other applicable constitutional and statutory authority.
“Bond” or “Bonds” shall mean any or all of the General Obligation Refunding Bonds, 2010 Series of the District, issued pursuant to this Bond Resolution, as the same may be amended from time to time, whether initially delivered or issued in exchange for, upon transfer of, or in lieu of any previously issued Bond. The Bonds shall be secured by and payable from ad valorem taxes levied upon taxable properties within the District.
“Bondholder,” “Registered Owner,” or “Owner” shall mean the Person reflected as registered owner of any of the Bonds on the registration books maintained by the Paying Agent.
“Bond Counsel” shall mean an attorney or firm of attorneys whose experience in matters relating to the issuance of obligations by states and their political subdivisions is nationally recognized.
“Bond Obligation” shall mean, as of the date of computation, the principal amount of the Bonds then Outstanding.
“Bond Resolution” shall mean the resolution authorizing issuance of the Bonds, as further amended and supplemented as herein provided.
“Bond Year” shall mean the one-year period ending on the principal payment date on the Bonds (April 1).
“Business Day” shall mean a day of the year other than a day on which banks located in New York, New York and the cities in which the principal offices of the Paying Agent are located are required or authorized to remain closed and on which the New York Stock Exchange is closed.
“Code” shall mean the Internal Revenue Code of 1986, as amended.
“Costs of Issuance” shall mean all items of expense, directly or indirectly payable or reimbursable and related to the authorization, sale and issuance of the Bonds, including but not limited to printing costs, costs of preparation and reproduction of documents, filing and recording fees, initial fees and charges of any fiduciary, legal fees and charges, fees and charges for the preparation and distribution of a preliminary official statement and official statement, if paid by the Issuer, fees and disbursements of consultants and professionals, costs of credit ratings, fees and charges for preparation, execution, transportation and safekeeping of the Bonds, costs and expenses of refunding, premiums for the insurance policy securing payment of the Bonds, if any, and any other cost, charge or fee paid or payable by the District in connection with the original issuance of Bonds.
“Debt Service” for any period shall mean, as of the date of calculation, an amount equal to the sum of (i) interest payable during such period on Bonds and (ii) the principal amount of Bonds which mature during such period.
“Defeasance Obligations” shall mean (a) cash or (b) non callable Government Securities.
“District” shall mean School District No. Fifteen of Cameron Parish, Louisiana.
“Executive Officers” shall mean the President, the Secretary, and the Chief Financial Officer of the Cameron Parish School Board.
“Fiscal Year” shall mean the one-year period commencing on July 1 of each year, or such other one-year period as may be designated by the Governing Authority as the fiscal year of the District.
“Governing Authority” shall mean the School Board of Cameron Parish, State of Louisiana, or its successor in function.
“Government Securities” shall mean direct general obligations of, or obligations the timely payment of principal of and interest on which are fully and unconditionally guaranteed by, the United States of America, which may be United States Treasury Obligations such as the State and Local Government Series and may be in book-entry form.
“Interest Payment Date” shall mean April 1 and October 1 of each year, commencing October 1, 2010.
“Outstanding,” when used with reference to the Bonds, shall mean as of any date, all Bonds theretofore issued under the Bond Resolution, except:
1. Bonds theretofore cancelled by the Paying Agent or delivered to the Paying Agent for cancellation;
2. Bonds for the payment or redemption of which sufficient Defeasance Obligations have been deposited with the Paying Agent or an escrow agent in trust for the owners of such Bonds with the effect specified in Section 11.1 of this Bond Resolution, provided that if such Bonds are to be redeemed, irrevocable notice of such redemption has been duly given or provided for pursuant to the Bond Resolution, to the satisfaction of the Paying Agent, or waived;
3. Bonds in exchange for or in lieu of which other Bonds have been registered and delivered pursuant to the Bond Resolution; and
4. Bonds alleged to have been mutilated, destroyed, lost, or stolen which have been paid as provided in the Bond Resolution or by law.
“Paying Agent” shall mean Cameron Parish School Board, as paying agent and registrar hereunder, until a successor Paying Agent shall have become such pursuant to the applicable provisions of the Bond Resolution, and thereafter “Paying Agent” shall mean such successor Paying Agent.
“Person” shall mean any individual, corporation, partnership, joint venture, association joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof.
“Placement Agent” shall mean Crews & Associates, Inc., Little Rock, Arkansas.
“Pledged Tax Revenues” shall mean the net avails or proceeds of the unlimited ad valorem tax levied against all assessable properties within the District, as approved by the electorate of the District in an election previously held therein.
“Qualified Investments” shall mean (i) cash, (ii) Government Securities, and (iii) time certificates of deposit of state banks organized under the laws of the State and national banks having their principal office in the State which are fully collateralized by government securities as provided by Louisiana law, or any other investment security which may be permitted by Louisiana law and approved in writing by the Insurer with notice to Standard & Poor’s Corporation.
“Record Date” shall mean, with respect to an Interest Payment Date, the close of business on the fifteenth calendar day of the month next preceding an Interest Payment Date, whether or not such day is a Business Day.
“Refunded Bonds” shall mean those bonds of the District’s outstanding General Obligation School Bonds, Series 2000, dated April 1, 2000 on original issue, maturing April 1, 2011 to April 1, 2015, inclusive, which are being refunded by the Bonds, as more fully described in Exhibit A hereto.
“State” shall mean the State of Louisiana.
SECTION 1.2. Interpretation. In this Bond Resolution, unless the context otherwise requires, (a) words importing the singular include the plural and vice versa, (b) words of the masculine gender shall be deemed and construed to include correlative words of the feminine and neuter genders and (c) the title of the offices used in this Bond Resolution shall be deemed to include any other title by which such office shall be known under any subsequently adopted charter.
ARTICLE II
AUTHORIZATION AND ISSUANCE OF BONDS
SECTION 2.1. Authorization of Bonds. This Bond Resolution creates an issue of Bonds to be designated “General Obligation Refunding Bonds of School District No. Fifteen of Cameron Parish, Louisiana, 2010 Series,” and provides for the full and final payment of the principal or redemption price of, and interest on all the Bonds.
(b) The Bonds issued under this Bond Resolution shall be issued for the purpose of providing funds for payment in full on the date of issuance and delivery of the Bonds, of the principal of, premium, if any, and interest on the Refunded Bonds.
(c) Provision having been made for the full payment and redemption of the Refunded Bonds, in accordance with their terms, it is hereby recognized and acknowledged that as of the date of delivery of the Bonds under this Bond Resolution, provision will have been made for the performance of all covenants and agreements of the Issuer incidental to the Refunded Bonds, and that accordingly, and in compliance with all that is herein provided, the Issuer is expected to have no future obligation with reference to the aforesaid Refunded Bonds, and that the Refunded Bonds will be defeased pursuant to the terms of the resolution of the Governing Authority which authorized their issuance, and the Act.
SECTION 2.2. Bond Resolution to Constitute Contract. In consideration of the purchase and acceptance of the Bonds by those who shall own the same from time to time, the provisions of this Bond Resolution shall be a part of the contract of the Issuer with the Owners of the Bonds and shall be deemed to be and shall constitute a contract between the Issuer and the Owners from time to time of the Bonds. The provisions, covenants and agreements herein set forth to be performed by or on behalf of the Issuer shall be for the equal benefit, protection and security of the Owners of any and all of the Bonds, each of which Bonds, regardless of the time or times of its issue or maturity, shall be of equal rank without preference, priority or distinction over any other thereof except as expressly provided in this Bond Resolution.
SECTION 2.3. Obligation of Bonds. The Bonds shall be secured by and payable in principal, premium, if any, and interest solely from an irrevocable pledge and dedication of the Pledged Tax Revenues. The Pledged Tax Revenues are hereby irrevocably and irrepealably pledged and dedicated in an amount sufficient for payment of the Bonds in principal, premium, if any, and interest as they shall become due and payable, and for other purposes hereinafter set forth in this Bond Resolution. All of the Pledged Tax Revenues shall be set aside in a separate fund as hereinafter provided, and shall be and remain pledged for the security and prompt payment of the Bonds, in principal, premium, if any, and interest and for all other payments provided for in this Bond Resolution until such Bonds shall have been fully paid and discharged.
SECTION 2.4. Authorization and Designation. Pursuant to the provisions of the Act, there is hereby authorized issuance of not $1,383,000 principal amount of Bonds to be designated “General Obligation Refunding Bonds of School District No. Fifteen of Cameron Parish, Louisiana, 2010 Series,” for the purpose of currently refunding the Refunded Bonds. The Bonds shall be in substantially the form set forth in Exhibit C hereto, with such necessary or appropriate variations, omissions and insertions as are required or permitted by the Act and this Bond Resolution.
SECTION 2.5. Denominations, Dates, Maturities and Interest. The Bonds are issuable as fully registered bonds without coupons in the denominations of $1,000 principal amount or any integral multiple thereof within a single maturity, and shall be numbered R-l upwards, and shall mature, subject to prior redemption as set forth in the Bond Resolution, on April 1 in the years and in the principal amounts and shall bear interest, payable on April 1 and October 1 of each year commencing October 1, 2010, calculated on the basis of a 360-day year consisting of twelve 30-day months, at the rates per annum as follows:
DUE MATURITY INTEREST
(April 1) AMOUNT RATE
2015 1,383,000 2.83%
The principal and premium, if any, of the Bonds are payable in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts at the principal corporate trust office of the Paying Agent, upon presentation and surrender thereof. Interest on the Bonds is payable by check mailed on or before the Interest Payment Date by the Paying Agent to the Owner (determined as of the Record Date) at the address of such Owner as it appears on the registration books of the Paying Agent maintained for such purpose. Except as otherwise provided in this Section, Bonds shall bear interest from date thereof or from the most recent Interest Payment Date to which interest has been paid or duly provided for, as the case may be, provided, however, that if and to the extent that the Issuer shall default in payment of interest on any Bonds due on any Interest Payment Date, then all such Bonds shall bear interest at their stated rate from the most recent Interest Payment Date to which interest has been paid on the Bonds, or if no interest has been paid on the Bonds, from their dated date. The person in whose name any Bond is registered at the close of business on the Record Date with respect to an Interest Payment Date shall in all cases be entitled to receive the interest payable on such Interest Payment Date (unless such Bond has been called for redemption on a redemption date which is prior to such Interest Payment Date) not withstanding cancellation of such Bond upon any registration of transfer or exchange thereof subsequent to such Record Date and prior to such Interest Payment Date.
ARTICLE III
GENERAL TERMS AND PROVISIONS OF THE BONDS
SECTION 3.1. Exchange of Bonds; Persons Treated as Owners. The Issuer shall cause books for the registration and for the registration of transfer of the Bonds as provided in this Bond Resolution to be kept by the Paying Agent at its principal corporate trust office, and the Paying Agent is hereby constituted and appointed the registrar for the Bonds. At reasonable times and under reasonable regulations established by the Paying Agent said list may be inspected and copied by the Issuer or by the Owners (or a designated representative thereof) of 15% of the outstanding principal amount of the Bonds.
Upon surrender for registration of transfer of any Bond, the Paying Agent shall register and deliver in the name of the transferee or transferees one or more new fully registered Bonds of authorized denomination of the same maturity and like aggregate principal amount. At the option of the Owner, Bonds may be exchanged for other Bonds of authorized denominations of the same maturity and like aggregate principal amount, upon surrender of the Bonds to be exchanged at the principal corporate trust office of the Paying Agent. Whenever any Bonds are so surrendered for exchange, the Paying Agent shall register and deliver in exchange therefor the Bond or Bonds which the Bondholder making the exchange shall be entitled to receive. All Bonds presented for registration of transfer or exchange shall be accompanied by a written instrument or instruments of transfer in form and with a guaranty of signature satisfactory to the Paying Agent, duly executed by the Owner or his attorney duly authorized in writing.
No service charge to the Owners shall be made by the Paying Agent for any exchange or registration of transfer of Bonds. The Paying Agent may require payment by the person requesting an exchange or registration of transfer of Bonds of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto. The Issuer and the Paying Agent shall not be required (a) to issue, register the transfer of or exchange any Bond during a period beginning at the opening of business on the 15th calendar day of the month next preceding an Interest Payment Date or any date of selection of Bonds to be redeemed and ending at the close of business on the Interest Payment Date or day on which the applicable notice of redemption is given or (b) to register the transfer of or exchange any Bond so selected for redemption in whole or in part.
All Bonds delivered upon any registration of transfer or exchange of Bonds shall be valid obligations of the Issuer, evidencing the same debt and entitled to the same benefits under this Bond Resolution as the Bonds surrendered. Prior to due presentment for registration of transfer of any Bond, the Issuer and the Paying Agent, and any agent of the Issuer or the Paying Agent may deem and treat the person in whose name any Bond is registered as the absolute owner thereof for all purposes, whether or not such Bond shall be overdue, and shall not be bound by any notice to the contrary.
SECTION 3.2. Bonds Mutilated, Destroyed, Stolen or Lost. In case any Bond shall become mutilated or be improperly canceled, or be destroyed, stolen or lost, the Governing Authority may in its discretion adopt a resolution and thereby authorize issuance and delivery of a new Bond in exchange for and substitution for such mutilated or improperly canceled Bond, or in lieu of and substitution for the Bond destroyed, stolen or lost, upon the Owner (i) furnishing the Issuer and the Paying Agent proof of his ownership thereof and proof of such mutilation, improper cancellation, destruction, theft or loss satisfactory to the Issuer and the Paying Agent, (ii) giving to the Issuer and the Paying Agent an indemnity bond in favor of the Issuer and the Paying Agent in such amount as the Issuer may reasonably require, (iii) compliance with such other reasonable regulations and conditions as the Issuer may prescribe and (iv) paying such expenses as the Issuer and the Paying Agent may incur. All Bonds so surrendered shall be delivered to the Paying Agent for cancellation pursuant to Section 3.4 hereof. If any Bond shall have matured or be about to mature, instead of issuing a substitute Bond, the Issuer may pay the same, upon being indemnified as aforesaid, and if such Bond be lost, stolen or destroyed, without surrender thereof any such duplicate Bond issued pursuant to this Section shall constitute an original, additional, contractual obligation on the part of the Issuer, whether or not the lost, stolen or destroyed Bond be at any time found by anyone. Such duplicate Bond shall be in all respects identical with those replaced except that it shall bear on its face the following additional clause: “This bond is issued to replace a lost, canceled or destroyed bond under the authority of R.S. 39:971 through 39:974.”
Such duplicate Bond may be signed by the facsimile signatures of the same officers who signed the original Bonds, provided, however, that in the event the officers who executed the original Bonds are no longer in office, then the new Bonds may be signed by the officers then in office. Such duplicate Bonds shall be entitled to equal and proportionate benefits and rights as to lien and source and security for payment as provided herein with respect to all other Bonds hereunder, the obligation of the Issuer upon the duplicate Bonds being identical to their obligations upon the original Bonds and the rights of the Owner of the duplicate Bonds being the same as those conferred by the original Bonds.
SECTION 3.3. Preparation of Definitive Bonds, Temporary Bonds. Until the definitive Bonds are prepared, the Issuer may execute, in the same manner as is provided in Section 3.5, and deliver, in lieu of definitive Bonds, but subject to the same provisions, limitations and conditions as the definitive Bonds except as to the denominations, one or more temporary typewritten Bonds substantially of the tenor of the definitive Bonds in lieu of which such temporary Bond or Bonds are issued, in authorized denominations, and with such omissions, insertions and variations as may be appropriate to temporary Bonds.
SECTION 3.4. Cancellation of Bonds. All Bonds paid or redeemed either at or before maturity, together with all Bonds purchased by the Issuer, shall thereupon be promptly cancelled by the Paying Agent. The Paying Agent shall thereupon promptly furnish to the Executive Officers an appropriate certificate of cancellation.
SECTION 3.5. Execution. The Bonds shall be executed in the name and on behalf of the Issuer by the manual or facsimile signatures of the President and Secretary, and the corporate seal of the Cameron Parish School Board (or a facsimile thereof) shall be thereunto affixed, imprinted, engraved or otherwise reproduced thereon. In case any one or more of the officers who shall have signed or sealed any of the Bonds shall cease to be such officer before the Bonds so signed and sealed shall have been actually delivered, such Bonds may, nevertheless, be delivered as herein provided, and may be issued as if the person who signed or sealed such Bonds had not ceased to hold such office. Said officers shall, by the execution of the Bonds, adopt as and for their own proper signatures their respective facsimile signatures appearing on the Bonds or any legal opinion certificate thereon, and the Issuer may adopt and use for that purpose the facsimile signature of any person or persons who shall have been such officer at any time on or after the date of such Bond, notwithstanding that at the date of such Bond such person may not have held such office or that at the time when such Bond shall be delivered such person may have ceased to hold such office.
SECTION 3.6. Registration by Paying Agent. (a) No Bond shall be valid or obligatory for any purpose or entitled to any security or benefit under this Bond Resolution unless and until a certificate of registration on such Bond shall have been duly executed on behalf of the Paying Agent by a duly authorized signatory, and such executed certificate of the Paying Agent upon any such Bond shall be conclusive evidence that such Bond has been executed, registered and delivered under this Bond Resolution.
(b) The Bonds shall also be registered with the Secretary of State of Louisiana (which registration shall be by manual signature on the Bonds issued upon original issuance of the Bonds and by facsimile signature on Bonds exchanged therefor) and shall have endorsed thereon the following:
“OFFICE OF SECRETARY OF STATE
STATE OF LOUISIANA
BATON ROUGE, LOUISIANA
This Bond secured by a tax. Registered on the ___ day of May, 2010.
_________________________________
Secretary of State”
SECTION 3.7. Regularity of Proceedings. The Issuer, having investigated the regularity of the proceedings had in connection with issuance of the Bonds, and having determined the same to be regular, each of 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.”
PAYMENT OF BONDS; DISPOSITION OF FUNDS
SECTION 4.1. Deposit of Funds With Paying Agent. The Issuer covenants that it will deposit or cause to be deposited with the Paying Agent from the Pledged Tax Revenues or other funds available for such purpose, at least one (1) Business Day in advance of the date on which payment of principal, premium, if any, and/or interest falls due on the Bonds, funds fully sufficient to pay promptly the principal, premium, if any, and interest so falling due on such date.
SECTION 4.2. District Obligated to Collect Tax. In compliance with the laws of the State, the District, through the Governing Authority, by proper resolutions and/or ordinances is obligated to cause the ad valorem taxes to continue to be assessed, levied and collected for the full period of their authorization or until all of the Bonds have been retired as to both principal and interest, or provision therefor has been made in accordance with the provisions of Section 11.1 hereof, and further the District shall not discontinue or terminate or permit to be discontinued or terminated the ad valorem taxes in anticipation of the collection of which the Bonds have been issued, nor in any way make any change which would adversely effect the amount of the Pledged Tax Revenues to be received by the District until all of the Bonds have been retired as to both principal and interest, or provision therefor has been made in accordance with the provisions of Section 11.1 hereto.
SECTION 4.3. Funds and Accounts. In order that principal of and interest on the Bonds will be paid in accordance with their terms and for the other objects and purposes hereinafter provided, the District further covenants as follows: All avails or proceeds of the ad valorem taxes constituting Pledged Tax Revenues shall be deposited as the same may be collected to the credit of the District, in a separate and special bank account established and maintained with the regularly designated fiscal agent of the Cameron Parish School Board and designated “School District No. Fifteen 2010 Series General Obligation Refunding Bond Sinking Fund” (the “Sinking Fund”). Funds on deposit in the Sinking Fund shall constitute dedicated funds of the District, from which appropriations and expenditures by the District shall be made solely for the purposes of paying the principal of, interest on, and redemption premium, if any, of the Bonds. Said fiscal agent shall transfer from said Sinking Fund to the paying agent bank or banks for all Bonds payable from said fund, at least one (1) Business Day in advance of each Interest Payment Date, funds fully sufficient to pay promptly the principal and interest so falling due on such date.
All or any part of the moneys in the Sinking Fund shall, at the written request of the District, be invested in Qualified Investments, provided that Bond proceeds representing accrued interest, if any, shall be invested in Government Securities, maturing prior to the first interest payment date of the respective issues of bonds as herein provided. All income derived from such investments shall be added to the applicable Sinking Fund, and such investments shall, to the extent at any time necessary, be liquidated and the proceeds thereof applied to the purposes for which the Sinking Fund is herein created.
SECTION 4.4. Funds to Constitute Trust Funds. The Sinking Fund provided for in Section 4.3 hereof shall all be and constitute a trust fund for the purposes provided in this Bond Resolution, and the Owners of Bonds issued pursuant to this Bond Resolution are hereby granted a lien on all such funds until applied in the manner provided herein. The moneys in such fund shall at all times be secured to the full extent thereof by the bank or trust company holding such funds in the manner required by the laws of the State.
SECTION 4.5. Method of Valuation and Frequency of Valuation. In computing the amount in any fund provided for in Section 4.3, investments shall be valued at the lower of cost or market price, exclusive of accrued interest. With respect to the Sinking Fund valuation shall occur annually. If any investment in the Sinking Fund ceases to be a Qualified Investment, then such non-conforming investment shall be sold or liquidated (unless otherwise approved by the Insurer) and the proceeds thereof invested in Qualified Investments.
ARTICLE V
REDEMPTION OF BONDS
SECTION 5.1. Optional Redemption. The Bonds shall not be callable for redemption at the option of the Issuer prior to maturity.
SECTION 5.2. Mandatory Sinking Fund Redemption. The Bonds shall be redeemed prior to maturity, in part randomly by payment of sinking fund installments, on each of the dates set forth below and in the respective principal amounts set forth opposite each such date, as follows:
Dates |
Principal Amounts |
April 1, 2011 |
$281,000 |
April 1, 2012 |
286,000 |
April 1, 2013 |
295,000 |
April 1, 2014 |
303,000 |
April 1, 20151 |
218,000 |
†Maturity Date
ARTICLE VI
PARTICULAR COVENANTS, ADDITIONAL BONDS
SECTION 6.1. Obligation of the Issuer in Connection with Issuance of the Bonds. As a condition of the issuance of the Bonds, the Issuer hereby binds and obligates itself to: (a) pay on the date of issuance of the Bonds, the principal of, premium, if any, and interest on the Refunded Bonds; and (b) deposit in trust with the Paying Agent such amount of the proceeds of the Bonds as will enable the Paying Agent to pay the costs properly attributable to the establishment and administration of the Sinking Fund.
SECTION 6.2. Payment of Bonds. The District shall budget in each Fiscal Year sufficient Pledged Tax Revenues to make all payments required by Section 4.3 in such Fiscal Year, and shall also duly and punctually pay or cause to be paid as herein provided, the principal of every Bond and the interest thereon, at the dates and places and in the manner stated in the Bonds according to the true intent and meaning thereof.
SECTION 6.3. Tax Covenants. (A) To the extent permitted by the laws of the State, the District will comply with the requirements of the Code to establish, maintain and preserve the exclusion from “gross income” of interest on the Bonds under the Code. The District shall not take any action or fail to take any action, nor shall they permit at any time or times any of the proceeds of the Bonds or any other funds of the District to be used directly or indirectly to acquire any securities or obligations the acquisition of which would cause any Bond to be an “arbitrage bond” as defined in the Code or would result in the inclusion of the interest on any Bond in “gross income” under the Code, including, without limitation, (i) the failure to comply with the limitation on investment of the proceeds of the Bonds, (ii) the failure to pay any required rebate of arbitrage earnings to the United States of America, or (iii) the use of proceeds of the Bonds in a manner which would cause the Bonds to be “private activity bonds” under the Code.
(B) The District shall not permit at any time or times any proceeds of the Bonds or any other funds of the District to be used, directly or indirectly, in a manner which would result in exclusion of interest on any Bond from the treatment afforded by Section 103(a) of the Code, as from time to time amended, or any successor provision thereto.
(C) For purposes of paragraphs (A) and (B) above, “interest” shall include any original issue discount properly allocable to the holder of a Bond.
(D) The Bonds herein authorized are designated as “qualified tax-exempt obligations” within the meaning of Section 265(b)(3) of the Code. In making this designation, Issuer finds and determines that:
(i) the Bonds are not “private activity bonds” within the meaning of the Code;
(ii) upon original issue, the Refunded Bonds were “qualified tax-exempt obligations” within the meaning of Section 265(b)(3) of the Code;
(iii) the amount of the Bonds does not exceed the outstanding amount of the Refunded Bonds;
(iv) the average maturity date of the Bonds is not later than the average maturity date of the Refunded Bonds;
(v) the maturity date of the Bonds is not later than 30 years after the date the Refunded Bonds were issued; and
(vi) the face amount of the Bonds does not exceed $10,000,000.
SECTION 6.4. Obligation to Collect Taxes. The District recognizes that the Governing Authority is bound under the terms and provisions of law, to levy and impose and cause the enforcement and collection the ad valorem taxes which secure issuance of the Bonds, and to provide for the proper application thereof, until all of the Bonds have been retired as to both principal and interest. Nothing herein contained shall be construed to prevent the Governing Authority from altering or amending from time to time as may be necessary the resolutions and/or ordinances adopted providing for the levying, imposition, enforcement and collection of the ad valorem taxes or any subsequent resolution and/or ordinance providing therefor, provided that such alterations or amendments shall not be made in any manner which would impair the rights of the Owners from time to time of the Bonds or which would in any way jeopardize the prompt payment of principal thereof and interest thereon. The resolutions and/or ordinances imposing the ad valorem taxes and pursuant to which the ad valorem taxes are being levied, collected and allocated, and the obligation to continue to levy, collect and allocate the ad valorem taxes and to apply the Pledged Tax Revenues in accordance with the provisions of this Bond Resolution, shall be irrevocable until the Bonds have been paid in full as to both principal and interest, and shall not be subject to amendment in any manner which would impair the rights of the Owners from time to time of the Bonds or which would in any way jeopardize the prompt payment of principal thereof and interest thereon. More specifically, neither the Legislature of Louisiana, nor the District may discontinue the ad valorem taxes or permit to be discontinued the ad valorem taxes in anticipation of the collection of which the Bonds have been issued or in any way make any change in ad valorem taxes which would diminish the amount of the Pledged Tax Revenues to be received by the District until all of the Bonds shall have been retired as to both principal and interest.
SECTION 6.5. Indemnity Bonds. So long as any of the Bonds are outstanding and unpaid, the District shall require all of its officers and employees who may be in a position of authority or in possession of money derived from collection of the ad valorem taxes, to obtain or be covered by a blanket fidelity or faithful performance bond, or independent fidelity bonds written by a responsible indemnity company in amounts adequate to protect the District from loss.
SECTION 6.6. District to Maintain Books and Records. So long as any of the Bonds are outstanding and unpaid in principal or interest, the District shall maintain and keep proper books of records and accounts separate and apart from all other records and accounts in which shall be made full and correct entries of all transactions relating to the collection and expenditure of the receipts of the ad valorem taxes, including specifically but without limitation, all reasonable and necessary costs and expenses of collection. Not later than six (6) months after the close of each Fiscal Year, the District shall cause an audit of such books and accounts to be made by the Legislative Auditor of the State (or his successor) or by a recognized independent firm of certified public accountants showing the receipts of and disbursements made for the account of the Sinking Funds.
SECTION 6.7. Pledged Tax Revenues Not Encumbered. As of this date, the Pledged Tax Revenues are not pledged or encumbered in any way, except to the payment of the Refunded Bonds and other bonds previously issued by the District.
ARTICLE VII
SUPPLEMENTAL BOND RESOLUTIONS
SECTION 7.1. Supplemental Resolutions Effective Without Consent of Owners. For any one or more of the following purposes and at any time from time to time, a resolution and/or ordinance supplemental hereto may be adopted, which, upon filing with the Paying Agent of a certified copy thereof, but without any consent of Owners, shall be fully effective in accordance with its terms: (a) to add to the covenants and agreements of the Issuer in the Bond Resolution other covenants and agreements to be observed by the Issuer which are not contrary to or inconsistent with the Bond Resolution as theretofore in effect; (b) to add to the limitations and restriction in the Bond Resolution other limitations and restrictions to be observed by the Issuer which are not contrary to or inconsistent with the Bond Resolution as theretofore in effect; (c) to surrender any right, power or privilege reserved to or conferred upon the Issuer by the terms of the Bond Resolution, but only if the surrender of such right, power or privilege is not contrary to or inconsistent with the covenants and agreements of the Issuer contained in the Bond Resolution; (d) to cure any ambiguity, supply any omission, or cure or correct any defect or inconsistent provision of the Bond Resolution; or (e) to insert such provisions clarifying matters or question arising under the Bond Resolution as are necessary or desirable and are not contrary to or inconsistent with the Bond Resolution as theretofore in effect.
SECTION 7.2. Supplemental Resolutions Effective With Consent of Owners. Except as provided in Section 7.1, any modification or amendment of the Bond Resolution or of the rights and obligations of the District and of the Owners of the Bonds hereunder, in any particular, may be made by a supplemental resolution, with the written consent of the Owners of a majority of the Bond Obligation at the time such consent is given. No such modification or amendment shall permit a change in the terms of redemption or maturity of the principal of any outstanding Bond or of any installment of interest thereon or a reduction in the principal amount or the redemption price thereof or in the rate of interest thereon without the consent of the Owner of such Bond, or shall reduce the percentages of Bonds the consent of the Owner of which is required to effect any such modification or amendment, or change the obligation of the District to levy and collect the ad valorem taxes for payment of the Bonds as provided herein, without the consent of the Owners of all of the Bonds then outstanding, or shall change or modify any of the rights or obligations of the Paying Agent without its written assent thereto. For purposes of this Section, Bonds shall be deemed to be affected by a modification or amendment of the Bond Resolution if the same adversely affects or diminishes the rights of the Owners of said Bonds. The consent of the Insurer shall be required (i) in addition to Bondholder consent, when required, for the adoption of any supplemental resolution, and all supplemental resolutions must be filed with the Insurer immediately upon adoption, (ii) for removal of the Paying Agent and selection and appointment of any successor paying agent; and (iii) initiation or approval of any action not described in (i) or (ii) above which requires Bondholders consent.
ARTICLE VIII
PARITY BONDS
SECTION 8.1. Issuance of Parity Bonds. All of the Bonds shall enjoy complete parity of lien on the Pledged Tax Revenues despite the fact that any of the Bonds may be delivered at an earlier date than any other of the Bonds. The District may issue other bonds or obligations payable from or enjoying a lien on the Pledged Tax Revenues on a parity with the Bonds.
ARTICLE IX
REMEDIES ON DEFAULT
SECTION 9.1. Events of Default. If one or more of the following events (in this Bond Resolution called “Events of Default”) shall happen, that is to say,
(a) if default shall be made in the due and punctual payment of the principal of any Bond when and as the same shall become due and payable, whether at maturity or otherwise; or
(b) if default shall be made in the due and punctual payment of any installment of interest on any Bond when and as such interest installment shall become due and payable; or
(c) if default shall be made by the Issuer in the performance or observance of any other of the covenants, agreements or conditions on its part in the Bond Resolution, any supplemental resolution or in the Bonds contained and such default shall continue for a period of forty-five (45) days after written notice thereof to the Issuer by the Insurer or the Owners of not less than 25% of the Bond Obligation (as defined in the Bond Resolution); or
(d) if the Issuer shall file a petition or otherwise seek relief under any Federal or State bankruptcy law or similar law;
then, upon the happening and continuance of any Event of Default the Owners of the Bonds shall be entitled to exercise all rights and powers for which provision is made under Louisiana law. Under no circumstances may the principal or interest of any of the Bonds be accelerated. All remedies shall be cumulative with respect to the Paying Agent and the Owners; if any remedial action is discontinued or abandoned, the Paying Agent and the Owners shall be restored to the former positions.
ARTICLE X
CONCERNING FIDUCIARIES
SECTION 10.1. Paying Agent; Appointment and Acceptance of Duties. The District will at all times maintain a Paying Agent having the necessary qualifications for the performance of the duties described in this Bond Resolution. The designation of the Cameron Parish School Board as the initial Paying Agent is hereby confirmed and approved. The Paying Agent shall signify its acceptance of the duties and obligations imposed on it by the Bond Resolution by executing and delivering an acceptance of its rights, duties and obligations as Paying Agent set forth herein in form and substance satisfactory to the District.
SECTION 10.2. Successor Paying Agent. Any successor Paying Agent shall (i) be a trust company or bank in good standing, located in or incorporated under the laws of the State, duly authorized to exercise trust powers, (ii) have a combined capital, surplus and undivided profits of at least $30,000,000, or assets under management of at least $25,000,000, (iii) be subject to supervision or examination by Federal or state authority, and (iv) be acceptable to the Insurer. No resignation or removal of the Paying Agent shall become effective until a successor has been appointed and has accepted the duties of Paying Agent.
ARTICLE XI
MISCELLANEOUS
SECTION 11.1. Evidence of Signatures of Bondholders and Ownership of Bonds. (a) Any request, consent, revocation of consent or other instrument which the Bond Resolution may require or permit to be signed and executed by the Owners may be in one or more instruments of similar tenor, and shall be signed or executed by such Owners in person or by their attorneys-in-fact appointed in writing. Proof of (i) the execution of any such instrument, or of an instrument appointing any such attorney, or (ii) the ownership by any person of the Bonds shall be sufficient for any purpose of the Bond Resolution (except as otherwise therein expressly provided) if made in the following manner, or in any other manner satisfactory to the Paying Agent, which may nevertheless in its discretion require further or other proof in cases where it deems the same desirable:
1. The fact and date of execution by any Owner or his attorney-in-fact of such instrument may be proved by the certificate, which need not be acknowledged or verified, of an officer of a bank or trust company or of any notary public or other officer authorized to take acknowledgments of deeds, that the person signing such request or other instrument acknowledged to him the execution thereof, or by an affidavit of a witness of such execution, duly sworn to before such notary public or other officer. Where such execution is by an officer of a corporation or association or a member of a partnership, on behalf of such corporation, association or partnership, such certificate or affidavit shall also constitute sufficient proof of his authority;
2. The ownership of Bonds and the amount, numbers and other identification, and date of owning the same shall be proved by the registration books of the Paying Agent.
(b) Any request or consent by the Owner of any Bond shall bind all future Owners of such Bond in respect of anything done or suffered to be done by the District or the Paying Agent in accordance therewith.
SECTION 11.2. Moneys Held for Particular Bonds. The amounts held by the Paying Agent for the payment due on any date with respect to particular Bonds shall, on and after such date and pending such payment, be set aside on its books and held in trust by it, without liability for interest, for the Owners of the Bonds entitled thereto.
SECTION 11.3. Parties Interested Herein. Nothing in the Bond Resolution expressed or implied is intended or shall be construed to confer upon, or to give to, any person or corporation, other than the District, the Insurer, the Paying Agent and Owners of the Bonds any right, remedy or claim under or by reason of the Bond Resolution or any covenant, condition or stipulation thereof; and all the covenants, stipulations, promises and agreements in the Bond Resolution contained by and on behalf of the District shall be for the sole and exclusive benefit of the District, the Insurer, the Paying Agent and Owners of the Bonds.
SECTION 11.4. No Recourse on the Bonds. No recourse shall be had for payment of principal of or interest on the Bonds or for any claim based thereon or on this Bond Resolution against any member of the Governing Authority or officer of the District or any person executing the Bonds.
SECTION 11.5. Successors and Assigns. Whenever in this Bond Resolution the District are named or referred to, it shall be deemed to include their successors, and assigns and all the covenants and agreements in this Bond Resolution contained by or on behalf of the District shall bind and inure to the benefit of their successors, and assigns whether so expressed or not.
SECTION 11.6. Subrogation. In the event the Bonds herein authorized to be issued, or any of them, should ever be held invalid by any court of competent jurisdiction, the Owner or Owners thereof, or the Insurer, shall be subrogated to all the rights and remedies against the District had and possessed by the Owner or Owners of the Refunded Bonds.
SECTION 11.7. Severability. In case any one or more of the provisions of the Bond Resolution or of the Bonds issued hereunder shall for any reason be held to be illegal or invalid, such illegality or invalidity shall not affect any other provision of the Bond Resolution or of the Bonds, but the Bond Resolution and the Bonds shall be construed and enforced as if such illegal or invalid provisions had not been contained therein. Any constitutional or statutory provision enacted after the date of the Bond Resolution which validates or makes legal any provision of the Bond Resolution or the Bonds which would not otherwise be valid or legal shall be deemed to apply to this Bond Resolution and to the Bonds.
SECTION 11.8. Publication of Bond Resolution; Peremption. This Bond Resolution shall be published one time in the official journal of the Governing Authority; however, it shall not be necessary to publish any exhibits hereto if the same are available for public inspection and such fact is stated in the publication. For thirty days after the date of publication, any person in interest may contest the legality of this Bond Resolution, any provision of the Bonds, the provisions therein made for the security and payment of the Bonds and the validity of all other provisions and proceedings relating to the authorization and issuance of the Bonds. After the said thirty days, no person may contest the regularity, formality, legality or effectiveness of this Bond Resolution, any provisions of the Bonds to be issued pursuant hereto, the provisions for the security and payment of the Bonds and the validity of all other provisions and proceedings relating to their authorization and issuance, for any cause whatever. Thereafter, it shall be conclusively presumed that the Bonds are legal and that every legal requirement for the issuance of the Bonds has been complied with. No court shall have authority to inquire into any of these matters after the said thirty days.
SECTION 11.9. Execution of Documents. In connection with issuance and sale of the Bonds, the Executive Officers are each authorized, empowered and directed to execute on behalf of the District such documents, certificates and instruments as they may deem necessary, upon the advice of Bond Counsel, to effect the transactions contemplated by this Bond Resolution, the signatures of the Executive Officers on such documents, certificates and instruments to be conclusive evidence of the due exercise of the authority granted hereunder.
SECTION 11.10. Recordation. A certified copy of this Bond Resolution shall be filed and recorded as soon as possible in the Mortgage Records of the Parish of Cameron, State of Louisiana.
ARTICLE XII
PLACEMENT OF BONDS
SECTION 12.1. Placement of Bonds. The placement of the Bonds by the Placement Agent at a price of $1,383,000 (representing principal of $1,383,000, less $7,000 Placement Agent Fee), and under the terms and conditions set forth in the Placement Agreement attached hereto as Exhibit B, is hereby ratified and confirmed. After their execution and authentication by the Paying Agent, the Bonds shall be delivered to the Placement Agent or its agent or assign, upon receipt by the Issuer of the agreed purchase price. The Executive Officers are hereby authorized, empowered and directed, on behalf of the Issuer, 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 the Bond Resolution or to facilitate the sale of the Bonds.
SECTION 12.2. Executive Officers Determine Bond Terms. The Executive Officers are hereby designated as representatives of the Issuer and are authorized to accept and execute on behalf of the Issuer an offer of the Placement Agent for placement of the Bonds as expressly set forth in the Placement Agreement, provided the offer by the Placement Agent is received by the Executive Officers by not later than April 12, 2010, and such offer sets an average interest rate of not more than 2.83% per annum, and a sales price of the Bonds at not less than 100% of the par value thereof, plus accrued interest, if any, to the date of delivery of the Bonds. The Executive Officers may, in their discretion, establish on behalf of the Issuer the par value of the Bonds, the interest rates payable thereon as well as the annual principal maturities thereof.
The Executive Officers be and they are hereby authorized and directed to take all actions in conformity with the Act, if necessary, or reasonably required to effectuate the issuance, sale and delivery of the Bonds and shall take all action necessary or desirable in conformity with the Act for carrying out, giving effect to and consummating the transactions contemplated by the Bonds, this Bond Resolution, including without limitation, the execution and delivery of any closing documents in connection with the issuance, sale and delivery of the Bonds. The Executive Officers are specifically authorized to approve such changes to said documents as are necessary and appropriate and not contrary to the general tenor thereof, such approval to be conclusively evidenced by such execution thereof.
ARTICLE XIII
REDEMPTION OF REFUNDED BONDS
SECTION 13.1. Call for Redemption. Subject only to delivery of the Bonds, the Refunded Bonds are hereby irrevocably called for redemption on May 17, 2010, at a redemption price of 100% of the principal amount of each Bond so redeemed, and accrued interest to the date of redemption, in compliance with the resolution authorizing their issuance.
SECTION 13.2. Notice of Redemption. In accordance with the resolution authorizing issuance of the Refunded Bonds, notice of redemption in substantially the form attached hereto as Exhibit D, shall be given by means of first class mail (postage prepaid) not less than thirty (30) days prior to the date fixed for redemption, addressed to the registered owner of each Bond to be redeemed at his address as shown on the registration books of the paying agent for the Refunded Bonds.
ADOPTED AND APPROVED on this 12th day of April, 2010.
/s/ Marvin Trahan
MARVIN TRAHAN, President
/s/ Stephanie D. Rodrigue
STEPHANIE D. RODRIGUE, Secretary
(Other business not pertinent to the present excerpt may be found of record in the official minute book.)
Upon motion duly made and unanimously carried, the meeting was adjourned.
/s/ Marvin Trahan
MARVIN TRAHAN, President
/s/ Stephanie D. Rodrigue
STEPHANIE D. RODRIGUE, Secretary
STATE OF LOUISIANA
PARISH OF CAMERON
I, STEPHANIE D. RODRIGUE, certify that I am the duly qualified and acting Superintendent of Public Schools for the Parish of Cameron, Louisiana, and as such, Ex-Officio Secretary of the Cameron Parish School Board, governing authority of School District No. 15 of Cameron Parish, Louisiana.
I further certify that the foregoing is a true and correct copy of an excerpt from the minutes of a public meeting of the Cameron Parish School Board, held on April 12, 2010, and of a resolution adopted at said meeting, as said minutes and resolution appear officially of record in my possession.
IN FAITH WHEREOF, witness my official signature and the impress of the official seal of School District No. 15 of Cameron Parish, Louisiana, on this, the 12th day of April, 2010.
/s/ Stephanie D. Rodrigue
STEPHANIE D. RODRIGUE, Secretary
[S E A L]
Attachment #2
ARTICLE 7 CHANGES IN THE WORK WITH SPECIFIC FORM REQUIRED
§7.1 GENERAL
Add the following paragraph:
§7.1.4 As part of the pre-construction conference submittals, the contractor is to submit the following prior to the commencement of work.
w Fixed job site overhead cost itemized with documentation to support daily rates.
w Bond Premium Rate with supporting information from the General Contractor’s carrier.
§7.2 CHANGE ORDERS - Delete this paragraph in its entirety and substitute the following:
§7.2.1 "A Change Order is a written order to the Contractor signed by the Owner and the Architect, issued after execution of the Contract, authorizing a change in the work or an adjustment in the Contract Sum or the Contract Time. The Contract Sum and the Contract Time may be changed only by Change Order. A Change Order signed by the Contractor indicates his agreement therewith, including the adjustment in the Contract Sum or the Contract Time."
§7.2.1.1 The cost to the Owner resulting from a change in the work shall be the sum of:
w Contractor's material and labor cost.
w Subcontractor's and/or Sub-Subcontractor's (as defined in Article 5) material and labor cost.
w Overhead and profit.
§7.2.1.2 The credit to the Owner resulting from a change in the work shall be the sum of:
w Contractor's material and labor cost.
w Subcontractor's and/or Sub-Subcontractor's material and labor cost.
w Credit will not be required for overhead and profit.
§7.2.2 The Contractor will be due Extended Overhead for time delays only when complete stoppage of work occurs causing a contract completion extension. The stoppage must be due to acts or omissions solely attributable to the Owner. In all cases the Contractor is to notify the Designer in writing as required by article 15.1.2.
§7.2.3 Before a Change Order is prepared, the Contractor shall provide and deliver to the Architects the following information, not subject to waiver, within ten (10) days after being notified to prepare said Change Order:
w An itemized list of material and labor costs for Contractor's work including quantities and unit costs for each item of labor and each item of material.
w Construction Contract Change Order Summary Form for each change order item. Use form included in Project Manual.
§7.2.4 "Overhead and profit shall be computed by one of the following methods but shall not exceed a total of 25% on any portion of work:
§7.2.4.1 When all of the work is General Contract work; 15% of the cost of the work for overhead and profit.
§7.2.4.2 When the work is all Subcontract work; 15% of the cost of the work for Subcontractor's overhead and profit plus 10% of the cost of the work, not including the Subcontractor's overhead and profit, for General Contractor's overhead and profit.
§7.2.4.3 When the work is a combination of General Contract work and Subcontract work; that portion of the cost that is General Contract work shall be figured per 7.2.4.1 and that portion of the cost that is Subcontract work shall be calculated per 7.2.4.2.
Bond premiums may be included, but after the markup is added to the cost of the work.
§7.2.5 After a change order has been approved, no follow-on requests for extensions of time or additional cost shall be considered for the work included in that change order.
§7.2.6 Cost of work for the purpose of Change Order's shall be costs necessarily incurred in performance of the work and paid by the Contractor which shall consist of:
w Wages Paid
w Cost of all materials and supplies
w Cost of necessary machinery and equipment
w Cost of applicable taxes, insurance, fringe benefits, unemployment compensation, social security, and any other documents costs.
§7.2.7 Subcontract cost shall consist of the items in 7.2.6 above plus overhead and profit as defined in 7.2.4.
§7.2.8 Cost of work whether Contractor's to Subcontractor's cost shall not apply to the following:
w Salaries or other compensation of the Contractor's personnel at the Contractor's principal office and branch offices.
w Any part of the Contractor's capital expenses, including interest on the Contractor's capital employed for the work.
w Overhead and general expenses of any kind or the cost of any item not specifically and expressly included in Subsection 7.3.6.
w Cost of supervision not specifically required by the Change Order.
w Costs due to the negligence of the Contractor, any Subcontractor, anyone directly employed by any of them, or for whose acts any of them, may be liable, including but not limited to the correction of defective or nonconforming work, disposal of material and equipment wrongly supplied, making good any damage to property, or delays caused by failure to provide adequate Change Order documentation.
§7.2.9 When applicable as provided by the Contract, the cost to Owner for Change Orders shall be determined by quantities and unit prices. The quantity of any item shall be as submitted by the Contractor and approved by the Architect. Unit prices shall cover cost of material, labor, equipment, overhead and profit.
§7.3 CONSTRUCTION CHANGE DIRECTIVES
Add the following paragraph:
§7.3.11 Any change order pertaining to public work, not required by LA - R.S. 38:2212 to be put out for public bid shall either be negotiated in the best interest of the public entity or let out for public bid as provided by LA - R.S. 38:2212. Where the change order is negotiated, the public entity shall require that said change order be fully documented and itemized as to costs, including material quantities, material costs, taxes, insurance, employee benefits, other related costs, profit and overhead. Where certain unit prices are contained in the initial contract, no deviations shall be allowed in computing negotiated change order costs.
CONSTRUCTION CONTRACT CHANGE ORDER SUMMARY
Project Name: Project #
Contractor or Subcontractor Name:
Description of Work:
A. Direct Cost of Work:
1. Labor (Attach Direct Cost Worksheets as Necessary) Hourly Wage Hours Total
Assigned Personnel or Work Crews Rate Paid Worked Cost
Add Labor Burden @ %
LABOR TOTAL
2. Material (Attach Direct Cost Worksheets as Necessary) Unit Unit Units Total
Material Required for Change Price Required Cost
Add Tax @ %
MATERIAL TOTAL
3. Equipment (Attach Direct Cost Worksheets as Necessary) Unit Unit Units Total
Equipment Required for Change Price Required Cost
Add Tax @ %
EQUIPMENT TOTAL
DIRECT COST (Sum 1, 2 & 3)
Contractor/Subcontractor’s Overhead and Profit (Direct Cost X OH&P) - Maximum 15%
TOTAL COST
B. Subcontractor’s Direct Costs: (If appropriate, Attach Supporting Summaries and/or Worksheets)
1. Direct Labor with Labor Burden Add-on
2. Direct Materials with Sales Tax
3. Company Owned and Rented Equipment with Applicable Sales Tax
TOTAL
Subcontractor’s Overhead and Profit (Direct Cost X OH&P) (Maximum 15%)
Contractor’s Overhead and Profit (Direct Cost X OH&P) (Maximum 10%)
TOTAL
C. Bond Premiums (Total Contractor and Subcontractor Cost @ _________________%)
Total Cost of Proposed Change Order Item
Total Contractor Days Added/Deleted from Project Schedule
(Attach supporting data such as meteorological reports)
Attachment #3
Approved Cameron Parish School calendars for 2010 – 2011 school year attached.