CROWLEY, LOUISIANA
SEPTEMBER 19, 2000
THE ACADIA PARISH POLICE JURY met on the above date at 6:30 p.m., in the Police Jury Meeting Room, Courthouse Building, Crowley, Louisiana, in regular session with the President, Claude Courville, presiding. At the request of the President, a moment of silence was offered and the Pledge to the Flag was recited in unison. The roll was called and final attendance was recorded as follows:
ALTON STEVENSON
CATHERINE LACOMBE
JOHN HUMBLE SR
CECELIA BROUSSARD
JIMMIE PELLERIN
JOHN BEARD
PAT DAIGLE
CLAUDE COURVILLE
A motion was offered by Mrs. Catherine LaCombe, seconded by Mr. Alton Stevenson, to amend the agenda and change the order of business. Motion carried.
A motion was offered by Mr. Jimmie Pellerin, seconded by Mr. John Beard, to approve the Minutes of the September 5, 2000, Regular Police Jury Meeting. Motion carried.
APPOINTMENTS
RESOLUTION
BY MESSRS: ALTON STEVENSON AND PAT DAIGLE
WHEREAS, Mrs. Elizabeth Broussard formally submitted her resignation to the Acadia Parish Library Board of Control, and
WHEREAS, said term would expire on November 1, 2001.
THEREFORE, BE IT RESOLVED by the Acadia Parish Police Jury in regular session duly convened this 19th day of September, 2000, does hereby appoint MRS. CYNTHIA DOMINICK to fill the unexpired term of Mrs. Elizabeth Broussard to the Acadia Parish Library Board of Control.
ADOPTED: SEPTEMBER 19, 2000
ATTEST:
/s/ Katry Martin /s/ Claude J. Courville
KATRY MARTIN CLAUDE J. COURVILLE
SECRETARY-TREASURER PRESIDENT
RESOLUTION
BY MESSRS: JOHN HUMBLE SR AND PAT DAIGLE
WHEREAS, due to the untimely death of Mrs. Eugene Casanova the position of Board of Commissioner to the Acadia Parish Library Board of Control was vacated, and
WHEREAS, said term would expire on November 1, 2000.
THEREFORE, BE IT RESOLVED by the Acadia Parish Police Jury in regular session duly convened this 19th day of September, 2000, does hereby appoint MR. EUGENE CASANOVA to fill the unexpired term of Mrs. Eugene Casanova to the Acadia Parish Library Board of Control.
ADOPTED: SEPTEMBER 19, 2000
ATTEST:
/s/ Katry Martin /s/ Claude J. Courville
KATRY MARTIN CLAUDE J. COURVILLE
SECRETARY-TREASURER PRESIDENT
RESOLUTION
BY: JOHN HUMBLE SR AND MRS CECELIA BROUSSARD
WHEREAS, the members of the Acadia Parish Police Jury have learned of the death of Mrs. Eugene Casanova and desires to extend a formal expression of their sorrow, and
WHEREAS, the Acadia Parish Police Jury recognizes the excellent and dedicated services that Mrs. Casanova has rendered during her term of office as a member of the Acadia Parish Library Board of Control, and
WHEREAS, the Acadia Parish Police Jury does hereby note in the Minutes the passing of a lady esteemed by her family and respected by all.
THEREFORE, BE IT RESOLVED by the Acadia Parish Police Jury in regular session duly convened on this the 19th day of September, 2000, does hereby request that the original of this Resolution be tendered to her family as an expression of the Jury’s heartfelt sympathy.
ADOPTED: SEPTEMBER 19, 2000
ATTEST:
/s/ Katry Martin /s/ Claude J. Courville
KATRY MARTIN CLAUDE J. COURVILLE
SECRETARY-TREASURER PRESIDENT
RESOLUTION
BY: MRS CECELIA BROUSSARD AND MRS CATHERINE LACOMBE
BE IT RESOLVED: by the Acadia Parish Police Jury in regular session duly convened this 19th day of September, 2000, does hereby appoint MR. JOHNNY HOFFPAUIR to replace Mr. Wilson Gaspard to the First Ward Drainage District effective September, 2000.
ADOPTED: SEPTEMBER 19, 2000
ATTEST:
/s/ Katry Martin /s/ Claude J. Courville
KATRY MARTIN CLAUDE J. COURVILLE
SECRETARY-TREASURER PRESIDENT
FINANCE
The following Resolution was offered by Mr. John Humble, Sr., seconded by Mrs. Cecelia Broussard:
RESOLUTION
A Resolution authorizing the incurring of debt and issuance
of Nine Hundred Thousand Dollars ($900,000) of
Certificates of Indebtedness, Series 2000, of the Parish of
Acadia, State of Louisiana; prescribing the form, terms and
conditions of said Certificates; designating the date,
denomination and place of payment of said Certificates;
providing for the payment thereof in principal and interest;
providing for the acceptance of an offer for the purchase
of said Certificates; and providing for other matters in
connection therewith.
WHEREAS, pursuant to an election held in the Parish of Acadia, State of Louisiana (the “Issuer”), on July 15, 2000, the Issuer was authorized to rededicate the proceeds of a two and twelve hundredths (2.12) mills tax (the “Tax”), authorized to be levied in the years 2000 through 2003, inclusive, pursuant to an election held in the Issuer on January 15, 1994, so that such proceeds may be used not only (i) for the purpose of constructing, improving, maintaining and operating the Parish’s Cooperative Extension Service Building and acquiring equipment and furnishings therefor, but also (ii) for the purpose of constructing improvements to and maintaining and operating the Parish’s Multi-Purpose Building and Arena, provided, however, that at least 40% of the annual Tax proceeds shall be budgeted for each of said purposes, and the Issuer was further authorized to continue to levy the Tax on all property subject to taxation within the Issuer for an additional six (6) years beginning with the year 2004 and ending with the year 2009 and use the proceeds thereof for the aforesaid public building purposes; and
WHEREAS, Section 742.2 of Title 39 of the La. Revised Statutes of 1950, as amended (R.S. 39:742.2) (the “Act”), and other constitutional and statutory authority, authorizes the Issuer to borrow money in anticipation of all or a portion of the revenues to be realized from a tax to be used only for the purposes for which the tax was voted; and
WHEREAS, the Issuer is not now a party to any contract pledging or dedicating the revenues to be received from the levy and collection of the Tax, EXCEPT: a prior and paramount lien on the revenues derived from the levy and collection of the Tax for the payment of an outstanding issue of Certificates of Indebtedness, Series 1994, dated May 1, 1994 (the “Series 1994 Certificates”), which Series 1994 Certificates will be redeemed in full in principal and accrued interest prior to or simultaneously with the delivery of the Certificates from moneys now on hand from the prior levies of the Tax; and
WHEREAS, the Issuer now desires to incur debt and issue Nine Hundred Thousand Dollars ($900,000) of its Certificates of Indebtedness in the manner authorized and provided by the Act, as hereinafter provided, to provide funds for the purpose of constructing improvements to the Parish’s Multi-Purpose Building and Arena, acquiring equipment therefor, paying the costs of issuance of the Certificates, and secure the payment thereof in principal and interest by a first, prior and paramount lien on 60% of the proceeds of the Tax; and
WHEREAS, the annual debt service on the Certificates proposed to be issued pursuant to this resolution will not in any year exceed seventy-five percent (75%) of 60% of the estimated income to be realized from the levy and collection of the Tax in the year 2000.
BE IT RESOLVED by the Police Jury of the Parish of Acadia, State of Louisiana, acting as the governing authority of the Parish of Acadia, 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.
“Certificate” means any certificate of indebtedness 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 certificate previously issued.
“Certificates” means the Issuer’s Certificates of Indebtedness, Series 2000, authorized by this Resolution, in the total aggregate principal amount of Nine Hundred Thousand Dollars ($900,000).
“Certificate Register” means the records kept by the Paying Agent at its corporate trust office in which registration of the Certificates and transfers of the Certificates shall be made as provided herein.
“Code” means the Internal Revenue Code of 1986, as amended.
“Executive Officers” means, collectively, the President and the Secretary-Treasurer of the Police Jury of the Parish of Acadia, State of Louisiana.
“Fiscal Year(s)” means the one-year accounting period beginning on January 1st of each year, or such other period as may be designated by the Governing Authority as the fiscal year of the Issuer.
“Governing Authority” means the Police Jury of the Parish of Acadia, 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 each March 1 and September 1, commencing March 1, 2001.
“Issuer” means Parish of Acadia, State of Louisiana.
“Outstanding” when used with respect to Certificates means, as of the date of determination, all Certificates theretofore issued and delivered under this Resolution, except:
1. Certificates theretofore canceled by the Paying Agent or delivered to the Paying Agent for cancellation;
2. Certificates for which payment or redemption sufficient funds have been theretofore deposited in trust for the owners of such Certificates, provided that if such Certificates are to be redeemed, irrevocable notice of such redemption has been duly given or provided for pursuant to this Resolution or waived;
3. Certificates in exchange for or in lieu of which other Certificates have been registered and delivered pursuant to this Resolution;
4. Certificates alleged to have been mutilated, destroyed, lost or stolen which have been paid as provided in this Resolution or by law; and
5. Certificates for the payment of the principal (or redemption price, if any) of and interest on which money or Government Securities or both are held in trust with the effect specified in this Resolution.
“Owner” or “Owners” when used with respect to any Certificate means the Person in whose name such Certificate is registered in the Certificate Register.
“Paying Agent” means Bank of Commerce & Trust Company, in the City of Crowley, 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.
“Purchaser” means Bank of Commerce & Trust Company, in the City of Crowley, Louisiana, the original purchaser of the Certificates.
“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 Certificates, as it may be supplemented and amended.
“Tax” means the two and twelve hundredths (2.12) mills tax authorized to be levied by the Issuer in the years 2000 through 2009, inclusive, pursuant to elections held in the Issuer on January 15, 1994 and July 15, 2000, respectively, which elections authorize the Issuer to use the proceeds heretofore or hereafter received from the levy of such millage to be used not only (i) for the purpose of constructing, improving, maintaining and operating the Parish’s Cooperative Extension Service Building and acquiring equipment and furnishings therefor, but also (ii) for the purpose of constructing improvements to and maintaining and operating the Parish’s Multi-Purpose Building and Arena, provided, however, that at least 40% of the annual Tax proceeds shall be budgeted for each of said purposes.
SECTION 2. Authorization of Certificates; Maturities. Subject to the approval of the Louisiana State Bond Commission, and in compliance with the terms and provisions of Section 742.2 of Title 39 of the Louisiana Revised Statutes of 1950, as amended (R.S. 39:742.2) (the “Act”), and other constitutional and statutory authority, there be and there is hereby authorized the incurring of an indebtedness of Nine Hundred Thousand Dollars ($900,000) for, on behalf of, and in the name of the Issuer, to provide funds for the purpose of constructing improvements to the Parish’s Multi-Purpose Building and Arena, acquiring equipment therefor, and paying the costs of issuance of the Certificates, and to represent said indebtedness, this Governing Authority does hereby authorize the issuance of Nine Hundred Thousand Dollars ($900,000) of Certificates of Indebtedness, Series 2000, of the Issuer. The Certificates shall be in fully registered form, shall be dated November 1, 2000, shall be in the denomination of Five Thousand Dollars ($5,000) or any integral multiple thereof within a single maturity, shall be numbered consecutively from No. R-1 upward and shall bear interest from date thereof or the most recent interest payment date to which interest has been paid or duly provided for, at the rate of 5.58% per annum, payable semiannually on each Interest Payment Date, commencing March 1, 2001, and shall become due and payable and mature serially on March 1 of each year as follows, to-wit:
YEAR PRINCIPAL
(MARCH 1) AMOUNT
2001 $ 70,000
2002 75,000
2003 75,000
2004 80,000
2005 85,000
2006 90,000
2007 95,000
2008 105,000
2009 110,000
2010 115,000
The principal of the Certificates, upon maturity or redemption, shall be payable at the principal office of the Paying Agent, upon presentation and surrender thereof, and interest on the Certificates shall be payable by check of the Paying Agent mailed by the Paying Agent to the Owner (determined as of the close of business on the Record Date) at the address shown on the Certificate Register. Each Certificate delivered under this Resolution upon transfer of, in exchange for or in lieu of any other Certificate shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Certificate, and each such Certificate shall bear interest (as herein set forth) so neither gain nor loss in interest shall result from such transfer, exchange or substitution.
No Certificate shall be entitled to any right or benefit under this Resolution, or be valid or obligatory for any purpose, unless there appears on such Certificate a certificate of registration, substantially in the form provided in this Resolution, executed by the Paying Agent by manual signature.
SECTION 3. Redemption Provisions. Those Certificates maturing on March 1, 2004 and thereafter, shall be callable for redemption by the Issuer in full at any time on or after March 1, 2003, or in part in the inverse order of their maturities, and if less than a full maturity, then by lot within such maturity, on any Interest Payment Date on or after March 1, 2003, at the principal amount thereof and accrued interest to the date fixed for redemption. In the event a Certificate to be redeemed is of a denomination larger than $5,000, a portion of such Certificate ($5,000 or any multiple thereof) may be redeemed. Any Certificate which is to be redeemed only in part shall be surrendered at the office of the Paying Agent and there shall be delivered to the Owner of such Certificate, a new Certificate of the same maturity and of authorized denomination as requested by such Owner in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Certificate so surrendered. Official notice of such call of any of the Certificates for redemption shall be given by means of first class mail, postage prepaid, by notice deposited in the United States mails not less than thirty (30) days prior to the redemption date addressed to the registered Owner of each Certificate to be redeemed at his address as shown on the Certificate Register.
SECTION 4. Registration and Transfer. The Issuer shall cause the Certificate Register to be kept by the Paying Agent. The Certificates may be transferred, registered and assigned only on the Certificate Register, and such registration shall be at the expense of the Issuer. A Certificate may be assigned by the execution of an assignment form on the Certificate or by other instruments of transfer and assignment acceptable to the Paying Agent. A new Certificate or Certificates will be delivered by the Paying Agent to the last assignee (the new Owner) in exchange for such transferred and assigned Certificates after receipt of the Certificates to be transferred in proper form. Such new Certificate or Certificates 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 any Certificate 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.
SECTION 5. Form of Certificates. The Certificates and the endorsements to appear thereon shall be in substantially the following forms, respectively, to-wit:
(FORM OF FACE OF CERTIFICATE)
No. R- Principal Amount $
UNITED STATES OF AMERICA
STATE OF LOUISIANA
PARISH OF ACADIA
CERTIFICATE OF INDEBTEDNESS, SERIES 2000
PARISH OF ACADIA, STATE OF LOUISIANA
Certificate Maturity Interest
Date Date Rate
November 1, 2000 March 1, 5.58%
THE PARISH OF ACADIA, STATE OF LOUISIANA (the “Issuer”), promises to pay, but solely from the source and as hereinafter provided, to:
BANK OF COMMERCE & TRUST COMPANY
326 N Ave “G”
Crowley, Louisiana 70526
or registered assigns, on the Maturity Date set forth above, the Principal Amount set forth above, together with interest thereon from the Certificate Date set forth above or the most recent interest payment date to which interest has been paid or duly provided for, payable semiannually on March 1 and September 1 of each year, commencing March 1, 2001 (each an “Interest Payment Date”), at the Interest Rate per annum set forth above until said Principal Amount is paid, unless this Certificate shall have been previously called for redemption and payment shall have been made or duly provided for. The principal of this Certificate, upon maturity or redemption, is payable in lawful money of the United State of America at the principal office of Bank of Commerce & Trust Company, in the City of Crowley, Louisiana, or successor thereto (the “Paying Agent”), upon presentation and surrender hereof. Interest on this Certificate is payable by check mailed by the Paying Agent to the registered owner (determined as of the close of business on the 15th calendar day of the month next preceding each Interest Payment Date) at the address as shown on the registration books of the Paying Agent.
This Certificate is one of an authorized issue aggregating in principal the sum of Nine Hundred Thousand Dollars ($900,000) (the “Certificates”) all of like tenor and effect except as to number, denomination and maturity, said Certificates having been issued by the Issuer pursuant to a resolution adopted by its governing authority on September 19, 2000 (the “Resolution”), for the purpose of constructing improvements to the Parish’s Multi-Purpose Building and Arena, acquiring equipment therefor, and paying the costs of issuance of the Certificates, under the authority conferred by Section 742.2 of Title 39 of the Louisiana Revised Statutes of 1950, as amended (R.S. 39:742.2), and other constitutional and statutory authority.
Those Certificates maturing on March 1, 2004 and thereafter, shall be callable for redemption by the Issuer in full at any time on or after March 1, 2003, or in part in the inverse order of their maturities, and if less than a full maturity, then by lot within such maturity, on any Interest Payment Date on or after March 1, 2003, at the principal amount thereof and accrued interest to the date fixed for redemption. In the event a Certificate to be redeemed is of a denomination larger than $5,000, a portion of such Certificate ($5,000 or any multiple thereof) may be redeemed. Any Certificate which is to be redeemed only in part shall be surrendered at the office of the Paying Agent and there shall be delivered to the owner of such Certificate, a new Certificate of the same maturity and of authorized denomination as requested by such owner in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Certificate so surrendered. Official notice of such call of any of the Certificates for redemption shall be given by means of first class mail, postage prepaid, by notice deposited in United State mails not less than thirty (30) days prior to the redemption date addressed to the registered owner of each Certificate to be redeemed at his address as shown on the Certificate Register.
The Issuer shall cause to be kept at the principal office of the Paying Agent a register (the “Certificate Register”) in which registration of the Certificates and of transfers of the Certificates shall be made as provided in the Resolution. This Certificate may be transferred, registered and assigned only on the Certificate Register, and such registration shall be at the expense of the Issuer. This Certificate may be assigned by the execution of the assignment form hereon or by other instrument of transfer and assignment acceptable to the Paying Agent. A new Certificate or Certificates will be delivered by the Paying Agent to the last assignee (the new registered owner) in exchange for this transferred and assigned Certificate after receipt of this Certificate to be transferred in proper form. Such new Certificate or Certificates 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 any Certificate during a period beginning at the opening of business on the 15th calendar day of the month next preceding an Interest Payment Date.
The Certificates, including this Certificate, are secured by an irrevocable pledge and dedication of 60% of the proceeds to be derived from the levy and collection of a tax of two and twelve-hundredths (2.12) mills (such tax being subject to millage rate adjustment from time to time due to reassessment) levied and to be levied in each of the years 2000 through 2009, inclusive, on all the property subject to taxation within the Issuer, pursuant to elections held in the Issuer on January 15, 1994 and July 15, 2000, respectively. For a complete statement of the tax revenues from which and conditions under which this Certificate is issued, reference is hereby made to the Resolution. The Issuer, in the Resolution, has also entered into certain other covenants and agreements with the registered owners of the Certificates for the terms of which reference is made to the Resolution.
This Certificate shall not be valid or become obligatory for any purpose or be entitled to any security or benefit under the Resolution until the certificate of registration hereon shall have been signed by the Paying Agent.
It is certified that this Certificate is authorized by and issued in conformity with the requirements of the Constitution and statues of the State of Louisiana. It is further certified, recited and declared that all acts, conditions and things required to exist, to happen and to be performed precedent to and in the issuance of this Certificate and the issue of which it forms a part to constitute the same legal binding and valid obligations of the Issuer have existed, have happened and have been performed in due time, form and manner as required by law, and that the indebtedness of the Issuer, including this Certificate and the issue of which it forms a part, does not exceed the limitations prescribed by the Constitution and statutes of the State of Louisiana.
IN WITNESS WHEREOF, the Police Jury of the Parish of Acadia, State of Louisiana, acting as the governing authority of the Issuer, has caused this Certificate to be executed in the name of the Issuer by the manual signatures of its President and its Secretary-Treasurer, and the Issuer’s corporate seal to be impressed hereon.
PARISH OF ACADIA, STATE OF LOUISIANA
Secretary-Treasurer President
Acadia Parish Police Jury Acadia Parish Police Jury
[SEAL]
* * * * * *
(FORM OF PAYING AGENT’S CERTIFICATE OF REGISTRATION)
This Certificate is one of the Certificates referred to in the within mentioned Resolution.
BANK OF COMMERCE & TRUST COMPANY,
Crowley, Louisiana,
as Paying Agent
Date of Registration: By:
Authorized Officer
* * * * * *
(FORM OF ASSIGNMENT)
FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
Please Insert Social Security
or other Identifying Number of Assignee
the within Certificate and all rights thereunder, and hereby irrevocably constitutes and appoints attorney or agent to transfer the within Certificate on the books kept for registration thereof, with full power of substitution in the premises.
Dated:
NOTICE: The signature to this
assignment must correspond with the
name as it appears upon the face of the
within Certificate in every particular,
without alteration or enlargement or any
change whatever.
* * * * * *
SECTION 6. Execution of Certificates. The Certificates 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 7. Pledge and Dedication of Revenues. Pursuant to the authority granted at special elections held within the boundaries of the Issuer on January 15, 1994 and July 15, 2000, this Governing Authority levied in the year 2000 and does hereby obligate itself and it successors in office to levy and collect annually in each of the years 2001 through 2009, inclusive, the Tax (such Tax being subject to millage rate adjustment from time to time due to reassessment), which elections provide that such proceeds may be used not only (i) for the purpose of constructing, improving, maintaining and operating the Parish’s Cooperative Extension Service Building and acquiring equipment and furnishings therefor, but also (ii) for the purpose of constructing improvements to and maintaining and operating the Parish’s Multi-Purpose Building and Arena, provided, however, that at least 40% of the annual Tax proceeds shall be budgeted for each of said purposes. This Governing Authority does hereby irrevocably and irrepealably dedicate, appropriate and pledge 60% of the annual tax income to be derived from the assessment, levy and collection of the Tax to pay the annual debt service on the Certificates. The Issuer shall issue no other Certificates or obligations of any kind or nature payable from or enjoying a lien on the revenues of the Tax having priority over or parity with the Certificates.
SECTION 8. Sinking Fund. For the payment of the principal of and the interest on the Certificates, there is hereby created a special fund to be known as “Parish of Acadia, State of Louisiana - Certificates of Indebtedness, Series 2000, Sinking Fund”, said Sinking Fund to be established and maintained with the regularly designated fiscal agent bank of the Issuer. The Issuer shall deposit in the Sinking Fund at least two (2) days in advance of the date on which each payment of principal and/or interest falls due, funds fully sufficient to promptly pay the maturing principal and/or interest so falling due on such date. Said fiscal agent bank shall make available from said Sinking Fund to the Paying Agent for the Certificates at least one (1) day in advance of the date on which each payment of principal and interest falls due, funds fully sufficient to pay promptly the principal and interest falling due on such date.
It shall be specifically understood and agreed, however, and this provision shall be a part of this contract, that after the funds have actually been budgeted out of the revenues derived from the levy and collection of the Tax in any Fiscal Year sufficient to pay the principal and interest on the Certificates for that Fiscal Year, then any excess of such revenues remaining in that Fiscal Year shall be free for expenditure by the Issuer for any purposes for which the Tax was voted.
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 Certificates, 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 transferred to the special operating fund designated Cooperative Extension Services Building Fund.
SECTION 9. Budget; Audit. As long as any of the Certificates are outstanding and unpaid in principal or interest, the Issuer shall prepare and adopt a budget prior to the beginning of each Fiscal Year and shall furnish a copy of each budget within thirty (30) days after its adoption to the Paying Agent and the Purchaser; the Issuer shall also furnish a copy of such budget to the Owners of any of the Certificates who request the same. Not later than three (3) months after the close of each Fiscal Year, the Issuer shall cause an audit of its books and accounts to be made by the Legislative Auditor or an independent firm of certified public accountants showing the receipts and disbursements made by the Issuer during the previous Fiscal Year. Such audit shall be available for inspection by the Owner of any of the Certificates, and a copy of such audit shall be furnished to the Purchaser.
SECTION 10. Application of Proceeds. The Executive Officers are hereby empowered, authorized and directed to do any and al things necessary and incidental to carry out all of the provisions of this Resolution, to cause the necessary Certificates to be typed or printed, to issue, execute and seal the Certificates, and to effect delivery thereof as hereinafter provided. The proceeds derived from the sale of the Certificates, except accrued interest, shall be deposited by the Issuer with its fiscal agent bank or banks to be used only for the purpose for which the Certificates are issued. Accrued interest, if any, derived from the sale of the Certificates shall be deposited in the Sinking Fund to be applied to the first interest payment.
SECTION 11. Certificates Legal Obligations. The Certificates 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, or its successor in law, and the Owner or Owners from time to time of the Certificates and the provisions of such contract shall be enforceable by appropriate proceedings to be taken by such Owner or Owners, either by law or in equity. No material modification or amendment of this Resolution, or any ordinance or resolution or enactment amendatory hereof or supplemental hereto, may be made without the consent in writing of the Owner or Owners of the Certificates then outstanding.
SECTION 13. Recital of Regularity. This Governing Authority having investigated the regularity of the proceedings had in connection with the Certificates and having determined the same to be regular, the Certificates shall contain the following recital, to-wit:
“It is certified that his Certificate is authorized by and is
issued in conformity with the requirements of the
Constitution and statutes of the State of Louisiana.”
SECTION 14. Effect of Registration. The Issuer, the Paying Agent, and any agent of either of them may treat the Owner in whose name any Certificate is registered as the Owner of such Certificate for the purpose of receiving payment of the principal (and redemption price) of and interest on such Certificate 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 15. Cancellation of Certificates. All Certificates 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 Certificates previously registered and delivered which the Issuer may have acquired in any manner whatsoever, and all Certificates so delivered shall be promptly canceled by the Paying Agent. All canceled Certificates held by the Paying Agent shall be disposed of as directed in writing by the Issuer.
SECTION 16. 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 the Certificates. 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 17. Arbitrage. The Issuer covenants and agrees that, to the extent permitted by the laws of Louisiana, it will comply with the requirements of the Internal Revenue Code of 1986 and any amendment thereto (the “Code”) in order to establish, maintain and preserve the exclusion from “gross income” of interest on the Certificates 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 Certificates 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 Certificates to be “arbitrage bonds” or would result in the inclusion of the interest on any of the Certificates in gross income under the Code, including, without limitation, (i) the failure to comply with the limitation on investment of Certificate proceeds or (ii) the failure to pay any required rebate of arbitrage earnings to the United States of America or (iii) the use of the proceeds of the Certificates in a manner which would cause the Certificates to be “private activity bonds”.
SECTION 18. Designation as “Qualified Tax-Exempt Obligation”. The Certificates are designated as “qualified tax-exempt obligations” within the meaning of Section 265(b)(3)(B) of the Code. In making this designation, the Issuer finds and determines that:
a. the Certificates are not “private activity bonds” within the meaning of
the Code; and
b. the reasonably anticipated amount of qualified tax-exempt obligations
which will be issued by the Issuer and all subordinate entities in
calendar year 2000 does not exceed $10,000,000.
The Executive Officers are hereby empowered, authorized and directed to take any and all action and to execute and deliver any instrument, document or certificate necessary to effectuate the purposes of this Section.
SECTION 19. Disclosure Under SEC Rule 15c2-12(b). The Issuer will not be required to comply with the continuing disclosure requirements described in the Rule 15c-2-12(b) of the Securities and Exchange Commission [17CFR §240.15c2-12(b)], because the aggregate principal amount of the Certificates is less than $1,000,000.
SECTION 20. Publication. A copy of this Resolution shall be published immediately after its adoption in one (1) issue of the official journal of the Issuer. If the validity of the issuance of the Certificates is not raised within thirty (30) days from the date of such publication, the Certificates shall be incontestable in the hands of bona fide purchasers thereof for value and no court shall have authority to inquire into the legality thereof.
SECTION 21. Award of Certificates. The Issuer hereby accepts the offer of the Purchaser to purchase the Certificates, attached as Exhibit “A” hereto. The Certificates shall be delivered to the Purchaser upon the payment of the principal amount thereof plus accrued interest from the date of the Certificates to the date of delivery thereof.
SECTION 22. Declaration of Official Intent Under Reg. 1.150-2. Prior to the delivery of the Certificates (hereinabove approved in the amount of $900,000) the Issuer anticipates that it may pay a portion of the costs of the project not to exceed $900,000 from other available funds of the Issuer. The project includes specifically constructing improvements to the Parish’s Multi-Purpose Building and Arena, acquiring equipment therefor, and paying the costs of issuance of the Certificates. Upon the issuance of the Certificates, the Issuer reasonably expects to reimburse any such expenditures of other available funds from a portion of the proceeds of the Certificates. This Section is intended to be a declaration of official intent within the meaning of Reg. 1.150-2.
SECTION 23. Headings. The headings of the various sections hereof are inserted for convenience of reference only and shall not control or affect the meaning or construction of any of the provisions hereof.
SECTION 24. Application to the Louisiana State Bond Commission. Application is hereby formally made to the Louisiana State Bond Commission, Baton Rouge, Louisiana, for consent and authority to issue, sell and deliver the Certificates.
SECTION 25. Employment of Bond Counsel. The law firm of Foley & Judell, L.L.P., Bond Counsel, is hereby employed as Bond Counsel to handle al matters of a legal nature in connection with the negotiation, sale, issuance and delivery of the Certificates. The fee of said special counsel in connection with said program of finance is hereby established and fixed at a rate not to exceed 90% of the rate for comprehensive legal and coordinate professional work for revenue bonds set by the Attorney General’s Fee Schedule which is in effect at the time of the delivery of the Certificates, plus “out-of-pocket” expenses. A certified copy of this Resolution shall be forwarded to the Attorney General of the State of Louisiana for his approval of the employment herein provided for.
SECTION 26. 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 27. Effective Date. This Resolution shall become effective immediately.
The foregoing having been submitted to a vote, the vote thereon was as follows:
YEAS: Alton Stevenson, Catherine LaCombe, John Humble, Sr., Cecelia
Broussard, Jimmie Pellerin, John Beard, Pat Daigle and Claude
Courville.
NAYS: None.
ABSENT: None.
And the Resolution was declared adopted on this, the 19th day of September, 2000.
/s/ Katry Martin /s/ Claude J. Courville
KATRY MARTIN CLAUDE J. COURVILLE
SECRETARY-TREASURER PRESIDENT
EXHIBIT A
COMMITMENT LETTER OF PURCHASER
September 19, 2000
Honorable Police Jury
Parish of Acadia
Crowley, Louisiana
RE: $900,000 of Certificates of
Indebtedness, Series 2000, of the
Parish of Acadia, State of Louisiana
Gentlemen:
We hereby agree to purchase $900,000 of Certificates of Indebtedness, Series 2000 (the “Certificates”), of the Parish of Acadia, State of Louisiana (the “Parish”). The Certificates shall be dated November 1, 2000, and shall bear interest from the date thereof or from the most recent interest payment date to which interest has been paid or duly provided for, at the rate of 5.58%, payable semiannually on March 1 and September 1 of each year, commencing March 1, 2001, and shall mature serially on March 1 of each year as follows:
YEAR PRINCIPAL
(MARCH 1) AMOUNT
2001 $ 70,000
2002 75,000
2003 75,000
2004 80,000
2005 85,000
2006 90,000
2007 95,000
2008 105,000
2009 110,000
2010 115,000
Those Certificates maturing on March 1, 2004 and thereafter, shall be callable for redemption by the Issuer in full at any time on or after March 1, 2003, or in part in the inverse order of their maturities, and if less than a full maturity, then by lot within such maturity, on any interest payment date on or after March 1, 2003, at the principal amount thereof and accrued interest to the date fixed for redemption, all as set forth in the resolution authorizing the issuance of the Certificates.
The Certificates shall be issued pursuant to the provisions of Section 742.2 of Title 39 of the Louisiana Revised Statutes of 1950, as amended (R.S. 39:742.2) (the “Act”), and other constitutional and statutory authority.
Please deliver to us at the time of delivery of the Certificates, the approving legal opinion of Foley & Judell, L.L.P., New Orleans, Louisiana, Bond Counsel to the Parish.
We will anticipate delivery to us of the Certificates and payment therefor on/or about November 8, 2000.
[PURCHASER]
BANK OF COMMERCE & TRUST CO.
By: /s/ John W. Sarver
Title: President & CEO
The following Resolution was offered by Mr. Jimmie Pellerin, seconded by Mrs. Cecelia Broussard:
RESOLUTION
A Resolution approving the issuance, sale and delivery
of Seven Hundred Sixty-Five Thousand Dollars
($765,000) of Certificates of Indebtedness, Series 2000,
of Fire Protection District No. 9 of the Parish of Acadia,
State of Louisiana, and other matters relating thereto.
WHEREAS, the Board of Commissioners of Fire Protection District No. 9 of the Parish of Acadia, State of Louisiana, by resolution adopted on September 11, 2000, has authorized the issuance of $765,000 of Certificates of Indebtedness, Series 2000 (the “Certificates”), for the purpose of acquiring, constructing and improving fire protection facilities and equipment for the Issuer, including the purchase of fire trucks, and paying the costs of issuance of the Certificates, under the authority conferred by Section 742.2 of Title 39 of the Louisiana Revised Statutes of 1950, as amended (R.S. 39:742.2) (the “Act”), and other constitutional and statutory authority.
WHEREAS, it is now the desire of the Police Jury of the Parish of Acadia, State of Louisiana, to approve the issuance of the Certificates;
NOW, THEREFORE, BE IT RESOLVED by the Police Jury of the Parish of Acadia, State of Louisiana (the “Police Jury”), acting as the governing authority of the Parish of Acadia, State of Louisiana:
SECTION 1. That, in compliance with the provisions of Article VI, Section 15 of the Constitution of the State of Louisiana of 1974, and in accordance with the request of the Board of Commissioners of Fire Protection District No. 9, of the Parish of Acadia, State of Louisiana, this Police Jury hereby approves the issuance of Seven Hundred Sixty-Five Thousand ($765,000) of Certificates of Indebtedness, Series 2000, of Fire Protection District No. 9 of the Parish of Acadia, State of Louisiana, said Certificates to be issued under the authority and for the purposes stated in the preamble hereto.
SECTION 2. That neither the Parish nor this Police Jury shall be liable in any manner for the payment of said Certificates.
The foregoing having been submitted to a vote, the vote thereon was as follows:
YEAS: Alton Stevenson, Catherine LaCombe, John Humble, Sr., Cecelia
Broussard, Jimmie Pellerin, John Beard, Pat Daigle and Claude
Courville.
NAYS: None.
ABSENT: None.
And the Resolution was declared adopted on this, the 19th day of September, 2000.
/s/ Katry Martin /s/ Claude J. Courville
KATRY MARTIN CLAUDE J. COURVILLE
SECRETARY-TREASURER PRESIDENT
HEALTH
Dr. Robert McManus, representing the Acadia Parish Medical Society, voiced concern over Community Health Care in Acadia Parish.
Of particular concern was the cost to the Jury and to the people of the Parish. He reminded the Jury that Lafayette General Hospital opened a clinic in Branch that did not last and that American Legion Hospital currently serve residents near Morse. He noted that the Parish Medical Society did not support such a move.
Members agreed that more information would be required before making any commitment. No formal action was taken.
TAX ASSESSMENTS
RESOLUTION
BY MESSRS: JOHN HUMBLE SR AND PAT DAIGLE
WHEREAS, the list of assessments for the Parish of Acadia in the dollar amount of $150,966,530.00 have been exposed for public review, and
WHEREAS, the Acadia Parish Police Jury did sit as a Board of Review as required by law and no protests were received.
THEREFORE, BE IT RESOLVED by the Acadia Parish Police Jury in regular session duly convened on this the 19th day of September, 2000, that valuation for the 2000 Taxes, Parish of Acadia, as set by the Acadia Parish Tax Assessor, be and the same is hereby accepted by the Police Jury of Acadia Parish.
ADOPTED: SEPTEMBER 19, 2000
ATTEST:
/s/ Katry Martin /s/ Claude J. Courville
KATRY MARTIN CLAUDE J. COURVILLE
SECRETARY-TREASURER PRESIDENT
RESOLUTION
BY: MR PAT DAIGLE AND MRS CATHERINE LACOMBE
BE IT RESOLVED: by the Acadia Parish Police Jury in regular session duly convened this 19th day of September, 2000, that the following millage(s) are hereby levied on the 2000 tax roll on all property subject to taxation by the Acadia Parish Police Jury:
TAXES ARE AS FOLLOWS TO-WIT:
Parish taxes on all property, except as provided
by the Constitution------------------------------------------ 4.25 Mills
Parish taxes, City of Crowley--------------------------------- 2.12 Mills
Parish taxes, City of Rayne----------------------------------- 2.12 Mills
Parish taxes, Town of Church Point--------------------------- 2.12 Mills
Parish taxes, Town of Iota----------------------------------- 2.12 Mills
Acadia Parish Library Tax (Maintenance)---------------------- 4.25 Mills
Acadia Parish Health Unit Maintenance------------------------ 2.12 Mills
Acadia Parish Road Maintenance Tax-------------------------- 3.18 Mills
Cooperative Extension Tax----------------------------------- 2.12 Mills
Acadia-Evangeline Fire Protection Commission------------------ 1.04 Mill
BE IT FURTHER RESOLVED that the proper administrative officials of the Parish of Acadia, State of Louisiana, be and they are hereby empowered, authorized, and directed to spread said taxes, as hereinabove set forth, upon the assessment roll of said Parish for the year 2000, and to make the collection of the taxes imposed for and on behalf of the District, according to law, and that the tax herein levied shall become a permanent lien and privilege on all the property subject to taxation as herein set forth, and the collection thereof shall be enforceable in the manner provided by law.
BE IT FURTHER RESOLVED that the foregoing Resolution was read in full, the roll was called on the adoption thereof, and the Resolution was adopted by the following votes:
YEAS: Alton Stevenson, Catherine LaCombe, John Humble, Sr., Cecelia
Broussard, Jimmie Pellerin, John Beard, Pat Daigle and Claude
Courville.
NAYS: None.
ABSENT: None.
ADOPTED: SEPTEMBER 19, 2000
ATTEST:
/s/ Katry Martin /s/ Claude J. Courville
KATRY MARTIN CLAUDE J. COURVILLE
SECRETARY-TREASURER PRESIDENT
PUBLIC FACILITIES/BUILDING & GROUNDS
A motion was offered by Mr. John Humble, Sr., seconded by Mrs. Catherine LaCombe, to authorize Mader-Miers Engineering, Parish Attorney, Secretary and Animal Control Officer, to determine the feasibility and cost associated with the location of the Parish Animal Shelter at the LeGros Memorial Airport. Motion carried.
PUBLIC WORKS/ROAD & BRIDGE
A motion was offered by Mrs. Cecelia Broussard, seconded by Mr. Alton Stevenson, to approve the Emergency Work Report for the month of August, 2000. Said expenditures to be in the amount of $310.57. Motion carried.
Mr. Eddie Rabilais, resident of Clearview Subdivision, requested assistance to improve the condition of the roads in Clearview Subdivision.
The Parish Road Manager Robert Bergeaux reported on the amount of funds spent on improvements in recent months.
The Parish Bridge Inspector John Quebodeaux reported on the status of the bridge located at the junction of Indigo and Morrow Roads. He stated that the bridge had been closed for a period of ten years and recommended removing that structure from the Federal Off-System Replacement Program.
Mr. Leo Spategens, resident of Roberts Cove, expressed serious concern over the safety of local residents as well as the inconvenience. He pointed out that 175 residents including 45 students and local farmers lived in the vicinity of the bridge that was closed. He pleaded with the Jury for any assistance possible to repair the bridge for local traffic.
Others speaking in favor of reopening the bridge were: A. J. Broussard, Dennis Leonard, Lyle Johnson and Mr. Ancelet.
Mr. Bill Nevitt, property owner, voiced objection to the opening of the bridge indicating that the amount of money to repair that bridge would be better spent in other areas.
A motion was offered by Mrs. Cecelia Broussard, seconded by Mr. Alton Stevenson, to accept the recommendation of Parish Bridge Inspector and remove the bridge on Indigo Road from the Federal Off-System Replacement Program. Motion carried.
A motion was offered by Mrs. Cecelia Broussard, seconded by Mr. Alton Stevenson, to authorize the purchase of culverts to replace the bridge located on Cricket Road as part of the Bridge Repair Program in Phase I. Motion carried.
A motion was offered by Mrs. Cecelia Broussard, seconded by Mr. John Humble, Sr., to refer the request for funding to repair the bridges on Nation and Benton Roads to the Road & Bridge Committee for further discussion. Motion carried.
RESOLUTION
BY: MRS CECELIA BROUSSARD AND MR JOHN HUMBLE SR
BE IT RESOLVED: by the Acadia Parish Police Jury in regular session duly convened this 19th day of September, 2000, does hereby empower, authorize and direct the President to execute Change Order #6 for the bridge repair project under contract with Coastal Timbers, Inc.
BE IT FURTHER RESOLVED that said change order in the amount of Five Thousand Eight Hundred Seventy-two and 00/100 ($5,872.00) Dollars be added for a total contract price of Two Hundred Nineteen Thousand Forty-five and 15/100 ($219,045.15) Dollars.
ADOPTED: SEPTEMBER 19, 2000
ATTEST:
/s/ Katry Martin /s/ Claude J. Courville
KATRY MARTIN CLAUDE J. COURVILLE
SECRETARY-TREASURER PRESIDENT
RESOLUTION OF ACCEPTANCE
The following resolution was offered by Mr. John Humble, Sr., duly seconded by Mr. Pat Daigle, and duly resolved and adopted on September 19, 2000.
A resolution authorizing and directing the President to execute for and on behalf of the Acadia Parish Police Jury, an Act of Acceptance for Coastal Timbers, Inc., Contractor, pertaining to the completion of the contract, bridge repairs on Red Bird Road and Castle Cove Road, in accordance with the plans and specifications contained in the contract documents pertaining thereto.
WHEREAS, Coastal Timbers, Inc., as Contractor, has completed the bridge repairs on Red Bird Road and Castle Cove Road in accordance with the plans and specifications contained in the contract documents pertaining thereto; and
WHEREAS, the Acadia Parish Police Jury desires to accept the completed work;
NOW, THEREFORE, BE IT RESOLVED by the Acadia Parish Police Jury that the President of said Acadia Parish Police Jury be, and is hereby empowered, authorized and directed to execute an Act of Acceptance for and on behalf of the Acadia Parish Police Jury accepting the work as being substantially completed, and that he be authorized and directed to have a copy of said acceptance recorded in the Conveyance Records of the Parish of Acadia, State of Louisiana.
ADOPTED: SEPTEMBER 19, 2000
ATTEST:
/s/ Katry Martin /s/ Claude J. Courville
KATRY MARTIN CLAUDE J. COURVILLE
SECRETARY-TREASURER PRESIDENT
The Sales Tax Report was presented for the month of August, 2000. The report indicated a gross receipt of $385,795.25, an increase of $43,244.91 from August, 1999.
COMMENTS FROM THE PUBLIC
President Courville announced the scheduling of a meeting to discuss the concept of Community Health Care Centers for Friday, September 29, 2000, at 10:00 A.M., in the Police Jury Meeting Room.
The President of the Acadiana Humane Society was introduced by Animal Control Officer Wayne Matlock.
Legal Counsel gave a status report on pending litigation.
THERE BEING NO FURTHER BUSINESS TO COME BEFORE THE MEETING, THE MOTION WAS OFFERED DULY SECONDED, THAT THE MEETING ADJOURN UNTIL THE NEXT REGULARLY SCHEDULED MEETING OF OCTOBER 3, 2000, AT THE HOUR OF 6:30 P.M.
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