CROWLEY, LOUISIANA
FEBRUARY 20, 2001
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
JIMMIE PELLERIN
JOHN BEARD
PAT DAIGLE
CLAUDE COURVILLE
ABSENT: CECELIA BROUSSARD
A motion was offered by Mr. John Humble, Sr., seconded by Mr. Pat Daigle, to amend the agenda to consider discussion on Indigo Road Bridge. Motion carried.
A motion was offered by Mr. Jimmie Pellerin, seconded by Mr. John Beard, to approve the Minutes of the February 6, 2001, Regular Police Jury Meeting. Motion carried.
APPOINTMENTS
RESOLUTION
BY: MRS CATHERINE LACOMBE AND MR ALTON STEVENSON
BE IT RESOLVED: by the Acadia Parish Police Jury in regular session duly convened this 20th day of February, 2001, does hereby appoint MR. NORMAN REED to the Acadia Airport District #1 to fill the unexpired term of Mr. Dan Guillory.
ADOPTED: FEBRUARY 20, 2001
ATTEST:
/s/ Katry Martin /s/ Claude J. Courville
KATRY MARTIN CLAUDE J. COURVILLE
SECRETARY-TREASURER PRESIDENT
COMMUNITY/ECONOMIC DEVELOPMENT
No action on the Enterprise Zone Program.
FINANCE
The following resolution was offered by Mr. John Humble, Sr., and seconded by Mrs. Catherine LaCombe:
RESOLUTION
A resolution approving the defeasance of the April 1,
2002 through April 1, 2005, inclusive, maturities of
Public Improvement Sales Tax Refunding Bonds, Series
ST-1996, dated April 1, 1996, of the Acadia Parish
Sales Tax District, State of Louisiana (the “District”),
approving and authorizing the execution of a
Defeasance and Escrow Deposit Agreement by and
between the District and The Trust Company of
Louisiana, a division of National Independent Trust
Company; a national banking association with limited
powers domiciled in the State of Louisiana; and
providing for other matters in connection therewith.
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 Acadia Parish Sales Tax District, State of Louisiana (the “District”), that:
SECTION 1. There is hereby authorized and approved the defeasance of the April 1, 2002 through April 1, 2005, inclusive, maturities of outstanding Public Improvement Sales Tax Refunding Bonds, Series ST-1996, dated April 1, 1996, in the aggregate principal amount of $1,050,000 (the “Bonds”).
SECTION 2. The Defeasance and Escrow Deposit Agreement attached hereto and identified as Exhibit “A” (the “Escrow Agreement”) is hereby approved, and the President and the Secretary-Treasurer of the Police Jury are hereby authorized to execute said Agreement for, on behalf of and in the name of the District, such Agreement to be in substantially the form appearing as Exhibit “A” hereto with such completions and additions as are necessary to carry out the intent of this resolution.
SECTION 3. In order to provide notice to the holders of the Bonds that such Bonds have been defeased, a Notice of Defeasance in substantially the form appearing as Exhibit “B” hereto shall be published one (1) time in the Daily Journal of Commerce, New Orleans, Louisiana, and sent by registered mail to Bank One, NA (Main Office Chicago), successor to Premier Bank, National Association, paying agent for the Bonds.
SECTION 4. The President and Secretary-Treasurer of the Police Jury are hereby authorized and directed to deposit with The Trust Company of Louisiana, a division of National Independent Trust Company, a national banking association with limited powers domiciled in the State of Louisiana (the “Escrow Agent”), sufficient moneys to purchase the government securities necessary and provide the necessary initial cash deposit to accomplish the aforesaid defeasance as described in the attached Defeasance and Escrow Deposit Agreement and are further authorized to pay the fees of the Escrow Agent and out-of-pocket expenses of special bond counsel and to take all other actions necessary to carry out the terms of such agreement and the defeasance and redemption provided for thereby.
This resolution having been submitted to a vote, the vote thereon was as follows:
YEAS: Alton Stevenson, Catherine LaCombe, John Humble, Sr., Jimmie
Pellerin, John Beard, Pat Daigle and Claude Courville.
NAYS: None.
ABSENT: Cecelia Broussard.
And the resolution was declared adopted on this, the 20th day of February, 2001.
/s/ Katry Martin /s/ Claude J. Courville
KATRY MARTIN CLAUDE J. COURVILLE
SECRETARY-TREASURER PRESIDENT
EXHIBIT A
ESCROW DEPOSIT AGREEMENT
This ESCROW DEPOSIT AGREEMENT, by and between the ACADIA PARISH SALES TAX DISTRICT, STATE OF LOUISIANA (the “District”), appearing herein through the hereinafter named officers and THE TRUST COMPANY OF LOUISIANA, a division of National Independent Trust Company, a national banking association with limited powers domiciled in the State of Louisiana, and duly authorized to exercise corporate trust powers, as escrow agent (the “Escrow Agent”), appearing herein through the hereinafter named officers, which shall be dated as of March 1, 2001:
W I T N E S S E T H :
WHEREAS, the District has heretofore duly authorized and issued its Public Improvement Sales Tax Refunding Bonds, Series ST-1996, of which 1,050,000 will remain outstanding after April 1, 2001 (the “ST-1996 Bonds"); and
WHEREAS, pursuant to the provisions of a resolution adopted on February 20, 2001 (the “Resolution”), the Police Jury of the Parish of Acadia, State of Louisiana (the “Police Jury”), acting as the governing authority of the District, had found and determined that the defeasance of the ST-1996 Bonds (maturing serially on April 1, 2002 through April 1, 2005, inclusive), would be financially advantageous to the District; and
NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth, and in order to provide for the aforesaid defeasance, the parties hereto agree as follows:
SECTION 1. Establishment of Escrow Fund. There is hereby created and established with the Escrow Agent a special and irrevocable escrow fund to be known as the “Acadia Parish Sales Tax District, State of Louisiana, Public Improvement Sales Tax Refunding Bonds, Series ST-1996 Escrow Fund” (herein called the “Escrow Fund”) to be held in trust by the Escrow Agent separate and apart from other funds of the District and the Escrow Agent.
SECTION 2. Deposit to Escrow Fund; Application of Moneys. The District will cause to be deposited with the Escrow Agent the sum of $ . Such sum will be applied exclusively to the purchase of the Government Obligations described in Section A hereto and to provide an initial cash deposit in the Escrow Fund of $ .
(a) Concurrently with such deposit, the Escrow Agent shall apply the moneys described above to the purchase of the obligations described in Schedule A attached hereto and the establishment of the initial cash deposit described above. The obligations listed in Schedule A hereto and any other direct obligations of the United States Government are hereinafter referred to as the “Escrow Obligations”. All documents evidencing the book entries of the Escrow Obligations shall be held by the Escrow Agent and appropriate evidence thereof shall be furnished by the Escrow Agent to the District. As shown in Schedule A attached hereto, the Escrow Obligations shall mature in principle amounts and pay interest in such amounts and at such times so that sufficient moneys will be available from such Escrow Obligations (together with other moneys on deposit in the Escrow Fund) to pay, as the same mature and become due, the principle of, and interest on the Bonds through their final maturity of April 1, 2005. The district has heretofore found and determined that the investments described in said Schedule A are adequate in yield and maturity date in order to provide the necessary moneys to accomplish the defeasance of the Bonds.
(b) The Escrow Agent shall collect and receive the interest accruing and payable on the Escrow Obligations and the maturing principle amounts of the Escrow Obligations as the same are paid and credit the same to the Escrow Fund, so that the interest on and the principle of the Escrow Obligations, as such are paid, will be available to make the payments required pursuant to Section 5 hereof.
(c) In the event there is a deficiency in the Escrow Fund, the Escrow Agent shall notify the District of such deficiency, and the District shall immediately remedy such deficiency by paying to the Escrow Agent the amount of such deficiency. The Escrow Agent shall not be liable for any such deficiency, except as may be caused by the Escrow Agent’s negligence or willful misconduct.
SECTION 3. Deposit to Escrow Fund Irrevocable. The deposit of the moneys in the Escrow Fund shall constitute an irrevocable deposit of said moneys in trust exclusively for the benefit of the owners of the Bonds and such moneys and Escrow Obligations, together with any income or interest earned thereon, shall be held in escrow and shall be applied solely to the payment of the principle of and interest on the Bonds, as the same mature and become due. Subject to the requirements set forth herein for the use of the Escrow Fund and the moneys and investments therein, the District covenants and agrees that the Escrow Agent shall have full and complete control and authority over and with respect to the Escrow Fund and moneys and investments therein and the District shall not exercise any control or authority over and with respect to the Escrow Fund and the moneys and investments therein.
SECTION 4. Use of Moneys. The Escrow Agent shall apply the moneys deposited in the Escrow Fund and the Escrow Obligations, together with any income or interest earned thereon, in accordance with the provisions hereof. The Escrow Agent shall have no power or duty to invest any moneys held hereunder, or to make substitutions of the Escrow Obligations held hereunder or to sell, transfer or otherwise dispose of the Escrow Obligations acquired hereunder. The liability of the Escrow Agent for the payment of the amounts to be paid hereunder shall be limited to the principle of and interest on the Escrow Obligations and cash available for such purposes in the Escrow Fund. Any amounts held as cash in the Escrow Fund shall be held in cash without any investment thereof, not as a time or demand deposit with any bank, savings and loan or other depository.
SECTIONS 5. Payments of the Bonds. The Escrow Agent shall receive the matured principle of and the interest on the Escrow Obligations as the same are payable. On or before each interest payment date on the Bonds, the Escrow Agent shall transmit to the District or the paying agent for the Bonds in immediately available funds, sufficient amounts for the payment of the interest on the Bonds due on said date and any principle of the bonds due on said date by reason of maturity in accordance with Schedule A attached hereto.
SECTION 6. Notice of Defeasance. Official notice of the defeasance of the Bonds shall be published one (1) time in the Daily Journal of Commerce, New Orleans, Louisiana, and sent by registered mail to Bank One, NA (Main Office Chicago), successor to Premier Bank, National Association, paying agent for the Bonds. The District will reimburse said paying agent and the Escrow Agent for any expenses incurred in connection with this Section from moneys other than those in the Escrow Fund.
SECTION 7. Remaining Moneys in Escrow Fund. Upon the retirement of the Bonds, any amounts remaining in the Escrow Fund shall be paid to the District as its property free and clear of the trust created by the Resolution and this Agreement and shall be transferred to the District.
SECTION 8. Rights of Owners of the Bonds. The escrow trust fund created hereby shall be irrevocable and the owners of the Bonds shall have a beneficial interest and a first, prior and paramount claim on all moneys and Escrow Obligations in the Escrow Fund until paid out, used and applied in accordance with this Agreement.
SECTION 9. Fees of Escrow Agent. In consideration of the services rendered by the Escrow Agent under this Agreement, the District has paid to the Escrow Agent its reasonable fees and expenses, and the Escrow Agent hereby acknowledges that it shall have no lien whatsoever upon any moneys in the Escrow Fund. In no event shall the District be liable to any person by reason of the transactions contemplated hereby other than to the Escrow Agent as set forth in this Section 9.
The Escrow Agent and its respective successors, assigns, agents and servants shall not be held to any personal liability whatsoever, in tort, contract, or otherwise, in connection with the execution and delivery of this Agreement, the establishment of the Escrow Fund, the acceptance of the moneys and securities deposited therein, the purchase of those Escrow Obligations listed in Schedule A, the retention of the Escrow Obligations or the proceeds thereof or any payment, transfer or other application of moneys or securities by the Escrow Agent in accordance with the provisions of this Agreement or by reason of any act, omission or error of the Escrow Agent made in good faith and without negligence in the conduct of its duties.
SECTION 10. Enforcement. The District, the Escrow Agent and the paying agent for the Bonds and the owners of the Bonds shall have the right to take all actions available under law or equity to enforce this Agreement or the terms hereof.
SECTION 11. Records and Reports. The Escrow Agent will keep books of record and account in which complete and correct entries shall be made of all transactions relating to the receipts, disbursements, allocations and application of the money and Escrow Obligations deposited to the Escrow Fund and all proceeds thereof. With respect to each investment of the proceeds of Escrow Obligations, the Escrow Agent shall record, to the extent applicable, the purchase price of such investment, its fair market value, its coupon rate, its yield to maturity, the frequency of its interest payment, its disposition price, the accrued interest due on its disposition date and its disposition date. Such books shall be available for inspection at reasonable hours and under reasonable conditions by the District and the owners of the Bonds.
SECTION 12. Successor Escrow Agents. If at any time Escrow Agent or its legal successor or successors should become unable, through operation of law or otherwise, to act as Escrow Agent hereunder, or if its property and affairs shall be taken under the control of any state or federal court or administrative body because of insolvency or bankruptcy or for any other reason, a vacancy shall forthwith exist in the office of Escrow Agent hereunder. In such event the District, by appropriate order, shall promptly appoint an escrow agent to fill such vacancy.
Any successor escrow agent shall execute, acknowledge and deliver to the District and the Escrow Agent an instrument accepting such appointment hereunder, and the Escrow Agent shall execute and deliver an instrument transferring to such successor escrow agent, subject to the terms of this Agreement, all the rights, powers and trusts of the Escrow Agent hereunder. Upon the request of any such successor escrow agent, the District, shall execute any and all instruments in writing for more fully and certainly vesting in and confirming to such successors escrow agent all such rights, powers and duties. The Escrow Agent shall pay over to its successor escrow agent a proportional part of the Escrow Agent’s fee hereunder.
The Escrow Agent may be removed at any time by an instrument or concurrent instrument in writing delivered to the Escrow Agent by the District.
SECTION 13. Amendments. This Agreement may be amended with the consent of the District and the Escrow Agent (i) to correct ambiguities, (ii) to strengthen any provision hereof which is for the benefit of the owners of the Bonds or (iii) to serve any provision hereof which is deemed to be illegal or unenforceable; and provided further that this Agreement shall not be amended unless the District shall deliver an opinion of nationally recognized bond counsel, that such amendments will not cause the Bonds to be “arbitrage bonds”.
SECTION 14. Successors Bound. All covenants, promises and agreements in this Agreement shall bind and inure to the benefit of the respective successors and assigns of the District, the Escrow Agent and the owners of the Bonds, whether so expressed or not.
SECTION 15. Louisiana Law Governing. This Agreement shall be governed by the applicable laws of the State of Louisiana.
SECTION 16. Termination. This Agreement shall terminate when all the Bonds have been paid as aforesaid and any remaining moneys have been paid to the District.
SECTION 17. Severability. If any one or more of the covenants or agreements provided in this Agreement on the part of the District or the Escrow Agent to be performed should be determined by a court of competent jurisdiction to be contrary to law, such covenant or agreement shall be deemed and construed to be severable from the remaining covenants and agreements herein contained and shall in no way affect the validity of the remaining provisions of this Agreement.
SECTION 18. Counterparts. This Agreement may be executed in several counterparts, all or any of which shall be regarded for all purposes as one original and shall constitute and be one and the same instrument.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first written.
ACADIA PARISH SALES TAX DISTRICT,
STATE OF LOUISIANA
3rd Floor, Courthouse Circle
Crowley, Louisiana 70527
By:
ATTEST: President
Acadia Parish Police Jury
(SEAL)
By:
Secretary-Treasurer
Acadia Parish Police Jury
THE TRUST COMPANY OF LOUISIANA
a division of National Independent Trust Company, a
national banking association with limited powers
domiciled in the State of Louisiana
107 N. Trenton
Ruston, Louisiana 71270
as Escrow Agent
By:
Title:
(SEAL)
SCHEDULE A
To Escrow Deposit Agreement
GOVERNMENT OBLIGATIONS
AND ESCROW FUND CASH FLOW
EXHIBIT B
TO DEFEASANCE RESOLUTION
NOTICE OF DEFEASANCE
PUBLIC IMPROVEMENT SALES TAX REFUNDING BONDS,
SERIES ST-1996
DATED APRIL 1, 1996
ACADIA PARISH SALES TAX DISTRICT, STATE OF LOUISIANA
NOTICE IS HEREBY GIVEN, pursuant to a resolution adopted on February 20, 2001, by the Police Jury of the Parish of Acadia, State of Louisiana (the “Police Jury”), acting as the governing authority of the Acadia Parish Sales Tax District, State of Louisiana (the “District”), that there has been deposited with THE TRUST COMPANY OF LOUISIANA, a division of National Independent Trust Company, a national banking association with limited powers domiciled in the State of Louisiana (the “Escrow Agent”), as Escrow Agent under a Defeasance and Escrow Deposit Agreement dated March 1, 2001 (the “Escrow Deposit Agreement”), between the Escrow Agent and the District, moneys which have been invested in direct, non-callable obligations of the United States of America, in an amount sufficient to assure the availability of sufficient funds to pay the principal of and interest through their maturity of the District’s Public Improvement Sales Tax Refunding Bonds, Series ST-1996, dated April 1, 1996, in the aggregate principal amount of $1,050,000, which mature serially on April 1, 2002 through April 1, 2005, inclusive (the “Defeased Bonds”).
In accordance with the provisions of Chapter 14 of Title 39 of the Louisiana Revised Statutes of 1950, as amended, the Defeased Bonds are defeased and deemed to be paid, and will no longer be secured by or entitled to the benefits of the District providing for their issuance.
ACADIA PARISH SALES TAX DISTRICT,
STATE OF LOUISIANA
By:
Secretary-Treasurer
Acadia Parish Police Jury
Dated: March 1, 2001
PERSONNEL
A motion was offered by Mr. John Humble, Sr., seconded by Mrs. Catherine LaCombe, to approve the Road Manager’s recommendation and authorize a 5% probationary pay increase for Mr. Kenneth Carrier effective February 1, 2001, following his employee evaluation. Motion carried.
PUBLIC WORKS/ROAD & BRIDGE
A motion was offered by Mr. Alton Stevenson, seconded by Mr. John Humble, Sr., to approve the request by the Town of Iota to waive the permit conditions to install a gas service line on Nickel Road. Motion carried.
RESOLUTION
BY MESSRS: JOHN BEARD AND JIMMIE PELLERIN
BE IT RESOLVED: by the Acadia Parish Police Jury in regular session duly convened this 20th day of February, 2001, does hereby authorize the Secretary-Treasurer to call for a public hearing on March 20, 2001, at 6:30 P.M., to receive comments on the abandonment of Alabama Road.
ADOPTED: FEBRUARY 20, 2001
ATTEST:
/s/ Katry Martin /s/ Claude J. Courville
KATRY MARTIN CLAUDE J. COURVILLE
SECRETARY-TREASURER PRESIDENT
A motion was offered by Mr. Pat Daigle, seconded by Mr. Alton Stevenson, to authorize the Parish Engineer to prepare a cost estimate to repair the bridge on Indigo Lane. Motion carried.
SOLID WASTE/ENVIRONMENTAL
RESOLUTION
BY: MRS CATHERINE LACOMBE AND MR JIMMIE PELLERIN
WHEREAS, pursuant to Section III-D, Article 9-C of the Contract for Collection and Disposal of Solid Waste between Browning-Ferris Industries and the Acadia Parish Police Jury, the result of a joint house count submitted by BFI indicates an increase of 413 homes bringing the total number of the residential house count to 21,636.
THEREFORE, BE IT RESOLVED by the Acadia Parish Police Jury in regular session duly convened this 20th day of February, 2001, does hereby concur with the results of the joint house count verifying the number of service units.
BE IT FURTHER RESOLVED that the effective date of the revised count submitted be in accordance with the Solid Waste Collection and Disposal Contract by and between Browning-Ferris Industries and the Acadia Parish Police Jury.
ADOPTED: FEBRUARY 20, 2001
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 January, 2001. The report indicated a gross receipt of $803,816.46, an increase of $256,833.83 from January, 2000.
A motion was offered by Mr. John Humble, Sr., seconded by Mrs. Catherine LaCombe, to adjourn into executive session to discuss pending litigation with the Acadia Parish Sheriff’s Office related to jail overcrowding. The following roll call vote was cast: Yeas: Alton Stevenson, Catherine LaCombe, John Humble, Sr., Jimmie Pellerin, John Beard, Pat Daigle and Claude Courville. Motion carried.
The Jury reconvened following executive session.
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 MARCH 6, 2001, AT THE HOUR OF 6:30 P.M.
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