CROWLEY, LOUISIANA
DECEMBER 16, 2003
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
CLAUDE COURVILLE
ABSENT: PAT DAIGLE
A motion was offered by Mr. Jimmie Pellerin, seconded by Mr. John Beard, to approve the Minutes of the December 2, 2003, Regular Police Jury Meeting. Motion carried.
APPOINTMENTS
RESOLUTION
BY: MRS CATHERINE LACOMBE AND MRS CECELIA BROUSSARD
BE IT RESOLVED: by the Acadia Parish Police Jury in regular session duly convened this 16th day of December, 2003, does hereby appoint MR. JOHN DUBOSE to the Acadia Parish Communications District to fill the unexpired term of Mr. Jeff Thibodeaux.
ADOPTED: DECEMBER 16, 2003
ATTEST:
/s/ Katry Martin /s/ Claude J. Courville
KATRY MARTIN CLAUDE J. COURVILLE
SECRETARY-TREASURER PRESIDENT
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 16th day of December, 2003, does hereby appoint MESSRS. ROBERT MCMANUS, JAMES RUMORE, NORMAND REED, ROLAND FAULK and LARRY LANDRY to the Acadia Parish Mosquito Control Advisory Board.
ADOPTED: DECEMBER 16, 2003
ATTEST:
/s/ Katry Martin /s/ Claude J. Courville
KATRY MARTIN CLAUDE J. COURVILLE
SECRETARY-TREASURER PRESIDENT
FINANCE
RESOLUTION
BY: MR JIMMIE PELLERIN AND MRS CATHERINE LACOMBE
BE IT RESOLVED: by the Acadia Parish Police Jury in regular session duly convened this 16th day of December, 2003, does hereby authorize the Secretary-Treasurer to adjust the 2003 Budget in the amounts presented in EXHIBIT A in all funds to comply with the requirements of governmental budgeting. Changes in budget amounts to be applied to the General Fund, Parish Transportation, Solid Waste, Sales Tax Emergency Operations, Health Unit Fund, Rice Arena, Law Enforcement Witness Fund, Industrial District #1, Criminal Court, Cooperative Extension, Parish Road Sinking Fund, Rural Sales Tax District #2 and Sales Tax District #2 Sinking Fund.
ADOPTED: DECEMBER 16, 2003
ATTEST:
/s/ Katry Martin /s/ Claude J. Courville
KATRY MARTIN CLAUDE J. COURVILLE
SECRETARY-TREASURER PRESIDENT
The following resolution was offered by John Humble, Jr. and seconded by Jimmie Pellerin:
RESOLUTION
A resolution providing for the incurring of debt and
issuance of Three Hundred Thousand Dollars
($300,000) of Certificates of Indebtedness, Series
2004, of Mosquito Control Sales Tax District No. 3 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 thereof in principal and interest; authorizing
the agreement with the Paying Agent; providing for
the employment of bond counsel; providing for the
acceptance of an offer for the purchase of said
Certificates; and providing for other matters in
connection therewith.
WHEREAS, the budget for Mosquito Control Sales Tax District No. 3 of the Parish of Acadia, State of Louisiana (the "Issuer"), for the fiscal year ending December 31, 2004, shows an excess of revenues over statutory, necessary and usual charges and all other expenses for such fiscal year sufficient to meet the maximum principal and interest requirements in any future year on the Certificates of Indebtedness authorized herein (the "Certificates"), and the Police Jury of the Parish of Acadia, State of Louisiana, acting as the governing authority (the “Governing Authority”) of the Issuer, will herein obligate itself and its successors in office to budget and set aside annually adequate funds for the payment of the Certificates in principal and interest in future years; and
WHEREAS, Sections 2921 to 2925, inclusive, of Title 33 of the Louisiana Revised Statutes of 1950, as amended (R.S. 33:2921-2925), authorize the Issuer to make and enter into contracts dedicating the excess of annual revenues of subsequent years above statutory, necessary and usual charges to the payment of the cost of public improvements which are to be borne by the Issuer under such contracts, provided all such dedications do not exceed the estimated excess of revenue above statutory, necessary, and usual charges for the year in which such contract is made; and
WHEREAS, pursuant to and in accordance with the foregoing, the Issuer now desires to incur debt and issue Three Hundred Thousand Dollars ($300,000) of its Certificates of Indebtedness, Series 2004, in the manner authorized and provided by the aforesaid Sections of the Louisiana Revised Statutes of 1950, as hereinafter provided, for the purpose of acquiring trucks and other equipment and facilities necessary to operate a mosquito control program in the Issuer, and paying the costs of issuance of the Certificates; and
WHEREAS, the Issuer is not now a party to any contract pledging or dedicating its excess annual revenues above statutory, necessary and usual charges; and
WHEREAS, it is the desire of the Issuer to fix the details necessary with respect to the issuance of the Certificates and to provide for the authorization and issuance thereof; and
WHEREAS, it is the further desire of the Issuer to provide for the sale of the Certificates to the Purchaser (hereinafter defined) at the price and in the manner hereinafter provided;
NOW, THEREFORE, BE IT RESOLVED by the Police Jury of the Parish of Acadia, State of Louisiana, acting as the governing authority of Mosquito Control Sales Tax District No. 3 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:
“Act” shall mean Sections 2921 to 2925, inclusive, of Title 33 of the Louisiana Revised Statutes of 1950, as amended.
"Additional Parity Obligations" shall mean any additional pari passu bonds and/or certificates of indebtedness which may hereafter be issued, pursuant to Section 9 hereof, on a parity with the Certificates.
"Agreement" shall mean the agreement to be entered into between the Issuer and the Paying Agent pursuant to this Resolution.
“Certificate” shall mean 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" shall mean the Issuer's Certificates of Indebtedness, Series 2004, authorized by this Resolution, in the total aggregate principal amount of Three Hundred Thousand Dollars ($300,000), whether initially delivered or issued in exchange for, upon transfer of, or in lieu of any Certificates previously issued.
"Certificate Register" shall mean the records kept by the Paying Agent at its principal corporate office in which registration of the Certificates and transfers of the Certificates shall be made as provided herein.
"Code" shall mean the Internal Revenue Code of 1986, as amended.
"Executive Officers" shall mean, collectively, the President and the Secretary-Treasurer of the Governing Authority.
"Fiscal Year(s)" shall mean 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" shall mean the Police Jury of the Parish of Acadia, State of Louisiana, or its successor in function.
"Government Securities" shall mean 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" in the case of Certificates No. R-1 through No. R-10, inclusive, of this issue of Certificates, shall mean February 1 and August 1 of each year during which the Certificates are outstanding, commencing on August 1, 2004.
"Issuer" shall mean Mosquito Control Sales Tax District No. 3 of the Parish of Acadia, State of Louisiana.
"Resolution" shall mean this resolution authorizing the issuance of the Certificates, as it may be supplemented and amended.
"Outstanding" when used with respect to the Certificates shall mean, as of the date of determination, any Certificate theretofore issued and delivered under this Resolution, except:
1. Any Certificate theretofore canceled by the Paying Agent or delivered
to the Paying Agent for cancellation;
2. Any Certificate for which payment sufficient funds or government
securities, or both, have been theretofore deposited in trust for the
owners of such Certificate with the effect specified in this Resolution
or by law;
3. Any Certificate in exchange for or in lieu of which another Certificate
has been registered and delivered pursuant to this Resolution; and
4. Any Certificate alleged to have been mutilated, destroyed, lost or
stolen which may have been paid as provided in this Resolution or by
law.
"Owner" when used with respect to any Certificate shall mean the Person in whose name such Certificate is registered in the Certificate Register.
"Paying Agent" or “Paying Agents” for the Certificates numbered. R-1 through No. R-10, inclusive, shall mean Bank of Commerce & Trust Company, of Crowley, Louisiana, or such successor Paying Agent which may be named by this Governing Authority, and for the Certificates numbered R-1A through No. R-5A, inclusive, shall mean the Secretary-Treasurer of the Governing Authority.
"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.
“Purchaser” or “Purchasers”, in the case of Certificates R-1 through R-10, inclusive, shall mean Bank of Commerce & Trust Company, of Crowley, Louisiana, and for the Certificates R-1A through R-5A, inclusive, shall mean the Louisiana Public Facilities Authority, in Baton Rouge, Louisiana.
"Record Date" for the interest payable on any Interest Payment Date shall mean the 15th calendar day of the month next preceding such Interest Payment Date.
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 the Act, there is hereby authorized the incurring of an indebtedness of Three Hundred Thousand Dollars ($300,000) for, on behalf of, and in the name of the Issuer, for the purpose of acquiring trucks and other equipment and facilities necessary to operate a mosquito control program in the Issuer, and paying the costs of issuance of the Certificates, and to represent said indebtedness, this Governing Authority does hereby authorize the issuance of Three Hundred Thousand Dollars ($300,000) of Certificates of Indebtedness, Series 2004, of the Issuer. The Certificates shall be in fully registered form, shall be dated February 1, 2004, shall be issued in the denomination of One Thousand Dollars ($1,000) each, or any integral multiple thereof within a single maturity, and shall be numbered as set forth below. Certificates R-1A through R-5A, inclusive, shall be non-interest bearing, and Certificates No. R-1 through R-10, inclusive, shall bear interest as set forth below, payable on each Interest Payment Date, commencing August 1, 2004. The Certificates shall be numbered and shall mature serially on February 1 of the years and in the principal amounts as follows:
Certificate Principal Interest Certificate Principal Interest
Numbers Year Amount Rate Numbers Year Amount Rate
R-1 2005 $17,000 3.90% R-5 2009 $20,000 3.90%
R-1A 2005 9,000 0.00 R-5A 2009 9,000 0.00
R-2 2006 18,000 3.90 R-6 2010 30,000 3.90
R-2A 2006 9,000 0.00 R-7 2011 31,000 3.90
R-3 2007 18,000 3.90 R-8 2012 33,000 3.90
R-3A 2007 9,000 0.00 R-9 2013 34,000 3.90
R-4 2008 19,000 3.90 R-10 2014 35,000 3.90
R-4A 2008 9,000 3.90
The principal of the Certificates, upon maturity or redemption, shall be payable at the principal office of the appropriate Paying Agent, upon presentation and surrender thereof, and interest on the Certificates, if any, shall be payable by check of the appropriate 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 maintained by such Paying Agent at the address shown on the Certificate. The Certificates No. R-1 through R-10, inclusive, 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 February 1, 2008, and thereafter, shall be callable for redemption by the Issuer in full, or in part, at any time on or after February 1, 2007 (but if in part, in the inverse order of their maturities, and if less than a full maturity, then by lot within such maturity), at the principal amount thereof and accrued interest, if any, to the date fixed for redemption. In the event a Certificate to be redeemed is of a denomination larger than One Thousand Dollars ($1,000), a portion of such Certificate ($1,000 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 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 to be kept at the principal office of each Paying Agent a register (the “Certificate Register”) in which registration of the Certificates and transfers thereof shall be made as provided herein. The Certificates may be transferred, registered and assigned only on the appropriate 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 instruments of transfer acceptable to the appropriate Paying Agent. A new Certificate will be delivered by the Paying Agent to the last assignee (the new Owner) in exchange for such transferred and assigned Certificate after receipt of the Certificate to be transferred in proper form. Such new Certificate shall be in authorized denomination of the same maturity and like principal amount.
SECTION 5. Form of Certificates. The Certificates and the endorsements to appear thereon shall be in substantially the following forms, respectively, to-wit:
* * * *
No. R-_____ Principal Amount $________
UNITED STATES OF AMERICA
STATE OF LOUISIANA
PARISH OF ACADIA
CERTIFICATE OF INDEBTEDNESS, SERIES 2004
MOSQUITO CONTROL SALES TAX DISTRICT NO. 3
OF THE PARISH OF ACADIA, STATE OF LOUISIANA
Certificate Maturity Interest
Date Date Rate
February 1, 2004 February 1, _____ %
MOSQUITO CONTROL SALES TAX DISTRICT NO. 3 OF THE PARISH OF ACADIA, STATE OF LOUISIANA (the "Issuer"), promises to pay, but solely from the source and as hereinafter provided, to:
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 on February 1 and August 1 of each year, commencing August 1, 2004 (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 States of America at the principal office of Bank of Commerce & Trust Company, 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.
* The foregoing paragraph of the Certificate Form is to be modified for Certificate Nos. R-1A through R-5A, inclusive, which shall be non-interest bearing Certificates, to read as follows:
or registered assigns, on the Maturity Date set forth above, the Principal Amount set forth above. The principal of this Certificate, upon maturity, is payable in lawful money of the United States of America by the Secretary-Treasurer of the Police Jury of the Parish of Acadia, State of Louisiana, 3rd Floor, Courthouse Circle, Crowley, Louisiana 70527 (the “Paying Agent”), upon presentation and surrender hereof.
This Certificate is one of an authorized issue aggregating in principal the sum of Three Hundred Thousand Dollars ($300,000) (the "Certificates") all of like tenor and effect except as to number, denomination, interest rate and maturity, said Certificates having been issued by the Issuer pursuant to a resolution adopted on December 16, 2003 (the "Resolution"), for the purpose of acquiring trucks and other equipment and facilities necessary to operate a mosquito control program in the Issuer, and paying the costs of issuance of the Certificates, under the authority conferred by Sections 2921 to 2925, inclusive, of Title 33 of the Louisiana Revised Statutes of 1950, as amended (R.S. 33:2921 - 2925), and other constitutional and statutory authority.
Those Certificates maturing on February 1, 2008, and thereafter, shall be callable for redemption by the Issuer in full, or in part, at any time on or after February 1, 2007 (but if in part, in the inverse order of their maturities, and if less than a full maturity, then by lot within such maturity), at the principal amount thereof and accrued interest, if any, to the date fixed for redemption. In the event a Certificate to be redeemed is of a denomination larger than One Thousand Dollars ($1,000), a portion of such Certificate ($1,000 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 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 authorized denomination of the same maturity and like principal amount. Neither the Issuer nor the Paying Agent shall be required to issue, register, transfer or exchange any Certificate during a period beginning (i) at the opening of business on the 15th calendar day of the month next preceding an Interest Payment Date and ending at the close of business on the Interest Payment Date or (ii) with respect to Certificates to be redeemed, at the opening of business fifteen (15) days before the date of the mailing of a notice of redemption of such Certificates and ending on the date of such redemption.
This Certificate and the issue of which it forms a part, are secured by and payable from a pledge and dedication of the excess of annual revenues of the Issuer above statutory, necessary and usual charges in each of the fiscal years during which the Certificates are outstanding, and revenues from any source which may be transferred to the General Fund of the Issuer to pay the debt service on the Certificates. The Issuer has covenanted and agreed to budget annually a sufficient sum of money to pay the principal of and the interest on this Certificate and the issue of which it forms a part, as the same respectively become due, including any principal and/or interest theretofore matured and then unpaid, and to levy and collect in each year for the full period of its authorization, the one-fourth of one percent (1/4%) sales and use tax authorized to be levied by the Issuer pursuant to an election held in the Issuer on July 19, 2003, and collect other revenues within the limits prescribed by law, sufficient to pay the principal of and the interest on the Certificates, after the payment in such years of all such statutory, necessary and usual charges. The Issuer, in the Resolution has also entered into certain other covenants and agreements with the registered owner of this Certificate, including a provision for the issuance of Additional Parity Obligations on a parity with 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 is issued in conformity with the requirements of the Constitution and statutes 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 corporate seal of the Issuer to be impressed hereon.
MOSQUITO CONTROL SALES TAX
DISTRICT NO. 3 OF THE 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.
____________________________
, 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 provisions of the Act, the Certificates shall be secured by and payable solely from a pledge and dedication of the excess of annual revenues of the Issuer above statutory, necessary and usual charges in each of the Fiscal Years during which the Certificates are outstanding, and revenues from any source which may be transferred to the General Fund of the Issuer to pay the debt service on the Certificates. There is hereby irrevocably pledged and dedicated to the payment of the Certificates, an amount of such excess of annual revenues sufficient to pay same in principal and interest as they respectively mature. Until the Certificates shall have been paid in full in principal and interest, this Governing Authority does hereby obligate the Issuer, itself and its successors in office, to budget annually a sum of money sufficient to pay the principal of and interest on the Certificates, including any principal and/or interest theretofore matured and then unpaid, and to levy and collect in each year for the full period of its authorization, the one-fourth of one percent (1/4%) sales and use tax authorized to be levied by the Issuer pursuant to an election held in the Issuer on July 19, 2003, and collect other revenues within the limits prescribed by law, sufficient to pay the principal of and interest on the Certificates, after payment in such years of all the said statutory, necessary and usual charges of the Issuer for the then current year. No further or additional pledges or dedications of the aforesaid excess of annual revenues shall be made which shall have priority over or parity with the pledge and dedication of such revenues herein made, except as provided in Section 9 hereof.
SECTION 8. Sinking Fund. (a) For the payment of the principal of and the interest on the Certificates and any Additional Parity Obligations, there is hereby created a special fund known as "Mosquito Control Sales Tax District No. 3 Bond Sinking Fund" (the “Sinking Fund”), said Sinking Fund to be maintained with the regularly designated fiscal agent bank of the Issuer. For the payment of the Certificates, the Issuer shall deposit in said Sinking Fund at least three (3) days in advance of the date on which each payment of principal and/or interest on the Certificates falls due, funds fully sufficient to permit the Paying Agents for the Certificates to promptly pay the maturing principal and/or interest falling due on such date.
(b) It shall be specifically understood and agreed, however, and this provision shall be a part of this contract, that after the funds have been budgeted out of the revenues of any Fiscal Year sufficient to pay the principal of and interest on the Certificates herein authorized for that Fiscal Year, then any excess of annual revenues remaining in that Fiscal Year shall be free for expenditure by the Issuer for any other lawful corporate purpose.
(c) All monies 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.
(d) All or any part of the monies in the Sinking Fund shall, at the written request of the Issuer, be invested in accordance with the provisions of the laws of the State of Louisiana, in which event all income derived from such investments shall be added to the General Fund of the Issuer.
SECTION 9. Parity Certificates. The Issuer shall issue no other certificates or obligations of any kind or nature payable from or enjoying a lien on the excess of annual revenues of the Issuer above the said statutory, necessary and usual charges, having priority over or parity with the Certificates herein authorized except that Additional Parity Obligations may hereafter be issued on a parity with the Certificates under the following conditions:
(i) The net excess of annual revenues of the Issuer (excess of revenues derived by the Issuer from the levy and collection of its one-fourth of one percent (1/4%) sales and use tax authorized to be levied by the Issuer pursuant to an election held in the Issuer on July 19, 2003, after deducting the costs of collection and administrative costs incurred by the Governing Authority, which shall include any fund balance carried forward from a prior year) for the Fiscal Year immediately preceding the issuance of Additional Parity Obligations must have been not less than 1.2 times the highest annual debt service requirements in any succeeding Fiscal Year on all certificates then outstanding which are payable from the excess of annual revenues of the Issuer (but not including certificates which have been refunded or provisions otherwise made for their full and complete payment and redemption), and the Additional Parity Obligations proposed to be issued;
(ii) The Issuer is in full compliance with all covenants and undertakings in connection with all its excess revenue certificates then outstanding and payable from the excess of annual revenues of the Issuer or any part thereof, and there are no delinquencies in payments required to be made to the Sinking Fund established and maintained for the security and payment of the Certificates;
(iii) The existence of the facts required by the foregoing paragraphs (a) and (b) must be determined and certified by the Secretary-Treasurer of the Governing Authority; and
(iv) The Additional Parity Obligations must be payable as to principal on February 1 of each year, commencing not more than two (2) years from the date thereof, and payable as to interest on February 1 and August 1 of each year following the date thereof.
SECTION 10. 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 such 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 six (6) 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 11. Application of Proceeds. The Executive Officers are hereby empowered, authorized and directed to do any and all things necessary and incidental to carry out all of the provisions of this Resolution, to cause the necessary Certificates to be 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 12. 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 13. Resolution a Contract. The provisions of this Resolution shall constitute a contract between the Issuer, or its successor, and the Owner or Owners from time to time of the Certificates, and any such Owner or Owners may at law or in equity, by suit, action, mandamus or other proceedings, enforce and compel the performance of all duties required to be performed by this Governing Authority or the Issuer as a result of issuing the Certificates.
No material modification or amendment of this Resolution, or of any Resolution amendatory hereof or supplemental hereto, may be made without the consent in writing of the Owners of two-thirds (2/3) of the aggregate principal amount of the Certificates then outstanding; provided, however, that no modification or amendment shall permit a change in the maturity or redemption provisions of the Certificates, or a reduction in the rate of interest thereon, or in the amount of the principal obligation thereof, or affecting the obligation of the Issuer to pay the principal of and the interest on the Certificates as the same shall come due from the revenues appropriated, pledged and dedicated to the payment thereof by this Resolution, or reduce the percentage of the Owners required to consent to any material modification or amendment of this Resolution, without the consent of the Owners of the Certificates.
SECTION 14. Severability; Application of Subsequently Enacted Laws. In case any one or more of the provisions of this Resolution or of the Certificates shall for any reason be held to be illegal or invalid, such illegality or invalidity shall not affect any other provisions of this Resolution or of the Certificates, but this Resolution and the Certificates shall be construed and enforced as if such illegal or invalid provisions had not been contained therein. Any constitutional or statutory provisions enacted after the date of this Resolution which validate or make legal any provision of this Resolution and/or the Certificates which would not otherwise be valid or legal, shall be deemed to apply to this Resolution and to the Certificates.
SECTION 15. 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 this Certificate is authorized by and is issued in conformity with the requirements of the Constitution and statutes of the State of Louisiana."
SECTION 16. 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 17. Notices to Owners. Wherever this Resolution provides for notice to Owners of Certificates of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to each Owner of such Certificates, at the address of such Owner as it appears in the Certificate Register. In any case where notice to Owners of Certificates is given by mail, neither the failure to mail such notice to any particular Owner of Certificates, nor any defect in any notice so mailed, shall affect the sufficiency of such notice with respect to all other Certificates. Where this Resolution provides for notice in any manner, such notice may be waived in writing by the Owner or Owners entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Owners shall be filed with the Paying Agent, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver.
SECTION 18. 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 19. Paying Agents; Bank Qualification. The Issuer will at all times maintain Paying Agents for the performance of the duties hereunder as Paying Agent and registrar for the Certificates. The designation of the initial Paying Agents in this Resolution is hereby confirmed and approved. The Issuer reserves the right to appoint successor Paying Agents. Every Paying Agent appointed hereunder, except the Paying Agent for Certificates No. R-1A through R-5A, inclusive, 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 Certificates are designated as “qualified tax-exempt obligations” within the meaning of Section 265(b)(3) 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 the calendar year 2004 will 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 20. Arbitrage. The Issuer covenants and agrees that, to the extent permitted by the laws of the State of Louisiana, it will comply with the requirements of the 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 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 21. Mutilated, Destroyed, Lost or Stolen Certificates. If (1) any mutilated Certificate is surrendered to the Paying Agent, or the Issuer and the Paying Agent receive evidence to their satisfaction of the destruction, loss or theft of any Certificate, and (2) there is delivered to the Issuer and the Paying Agent such security or indemnity as may be required by them to save each of them harmless, then, in the absence of notice to the Issuer or the Paying Agent that such Certificate has been acquired by a bona fide purchaser, the Issuer shall execute, and upon its request the Paying Agent shall register and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost, or stolen Certificate, a new Certificate of the same maturity and of like tenor, interest rate and principal amount, bearing a number not contemporaneously outstanding. In case any such mutilated, destroyed, lost or stolen Certificate has become or is about to become due and payable, the Issuer in its discretion may, instead of issuing a new Certificate, pay such Certificate. Upon the issuance of any new Certificate under this Section, the Issuer may require the payment by the Owner of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Paying Agent) connected therewith. Every new Certificate issued pursuant to this Section in lieu of any mutilated, destroyed, lost or stolen certificate shall constitute a replacement of the prior obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Certificate shall be at any time enforceable by anyone and shall be entitled to all the benefits of this Resolution equally and ratably with all other Outstanding Certificates. Any additional procedures set forth in the Agreement, authorized in this Resolution, shall also be available with respect to mutilated, destroyed, lost or stolen Certificates. The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement and payment of mutilated, destroyed, lost or stolen Certificates.
SECTION 22. Discharge of Resolution; Defeasance. If the Issuer shall pay or cause to be paid, or there shall otherwise be paid to the Owners, the principal (and redemption price) of and interest on the Certificates, at the times and in the manner stipulated in this Resolution, then the pledge of the money, securities, and funds pledged under this Resolution and all covenants, agreements, and other obligations of the Issuer to the Owners of the Certificates shall thereupon cease, terminate, and become void and be discharged and satisfied, and the Paying Agent shall pay over or deliver all money held by it under this Resolution to the Issuer.
Certificates or interest installments for the payment or redemption of which money shall have been set aside and shall be held in trust (through deposit by the Issuer of funds for such payment or redemption or otherwise) at the maturity or redemption date thereof shall be deemed to have been paid within the meaning and with the effect expressed above in this Section. Certificates shall be deemed to have been paid, prior to their maturity, within the meaning and with the effect expressed above in this Section if there shall have been deposited in trust either money in an amount which shall be sufficient, or Government Securities the principal of and the interest on which when due will provide money which, together with the money, if any, deposited in trust at the same time, shall be sufficient to pay when due the principal of, premium, if any, and interest to become due on such Certificates on and prior to the stated maturity or (if notice of the call for redemption has been duly given or waived or if irrevocable arrangements therefor have been made) redemption date thereof. Neither Government Securities nor money deposited in trust pursuant to this Section, nor principal or interest payments on any such Government Securities, shall be withdrawn or used for any such purpose other than, and shall be held in trust for, the payment of the principal (and redemption price) of and interest on such Certificates. Any cash received from such principal of and interest on such investment securities deposited in trust, if not needed for such purpose, shall, to the extent practicable, be reinvested in Government Securities (which may be non-interest bearing) maturing at times and in amounts sufficient to pay when due the principal, premium, if any, and interest on such Certificates on and prior to the maturity thereof, and interest earned from such reinvestments shall be paid over to the Issuer as received by the depositary, free and clear of any trust, lien, or pledge. Any payment for Government Securities purchased for the purpose of reinvestment as aforesaid shall be made only against delivery of such Government Securities.
SECTION 23. Disclosure Under SEC Rule 15c2-12. It is recognized that 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 [17 CFR §240.15c2-12(b)], because the Certificates are issued in aggregate principal amount of less than One Million Dollars ($1,000,000).
SECTION 24. Application to Louisiana State Bond Commission. Application is hereby formally made to the Louisiana State Bond Commission, for consent and authority to issue, sell and deliver the Certificates. A certified copy of this Resolution shall be submitted to the Louisiana State Bond Commission, together with a request for prompt consideration and approval of this application.
SECTION 25. Award of Certificates. The Issuer hereby accepts the offers of the Purchasers to purchase the Certificates attached as Exhibits “A” and “B” hereto. The Certificates shall be delivered to the Purchasers upon payment of the principal amount of the Certificates, and accrued interest, if any, to the date of delivery of the Certificates.
SECTION 26. Declaration of Official Intent Under Reg. 1.150-2. Prior to the delivery of the Certificates (hereinabove approved in an amount not to exceed $300,000) the Issuer anticipates that it may pay a portion of the costs of the project not to exceed $300,000 from other available funds of the Governing Authority. The project includes, specifically, acquiring trucks and other equipment and facilities necessary to operate a mosquito control program in the Issuer, 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 27. Employment of Bond Counsel. The law firm of Foley & Judell, L. L. P., Bond Counsel is hereby employed as Bond Counsel to the Issuer to handle all matters of a legal nature in connection with the negotiation, sale, issuance and delivery of the Certificates. The fee of Foley & Judell, L. L. P., in connection with said program of finance is hereby established and fixed at a rate not to exceed 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, including any and all expenses and costs in preparing an Official Statement for the Bonds, if necessary. 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 28. 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 29. 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.
The foregoing resolution having been submitted to a vote, the vote thereon was as follows:
YEAS: Claude Courville, Alton Stevenson, Catherine R. Lacombe, John W.
Humble, Sr., Jimmie Pellerin, John W. Beard, and Cecelia
Broussard.
NAYS: None.
ABSENT: Pat Daigle.
And the resolution was declared adopted on this, the 16th day of December, 2003.
/s/ Katry Martin /s/ Claude J. Courville
KATRY MARTIN CLAUDE J. COURVILLE
SECRETARY-TREASURER PRESIDENT
HEALTH
Legal Counsel André Doguet reported on the request to impose the cleanup of property located at McClelland Lane. He indicated the property in question could be condemned for health reasons under the existing Parish Ordinance. He advised that the property owners should be notified as well as any creditors.
A motion was offered by Mrs. Cecelia Broussard, seconded by Mr. John Beard, to authorize the Parish Enforcement Officer to notify property owners on McClelland Lane regarding the conditions relative to condemnation as well as the creditors involved in said property. Motion carried.
LEGISLATION
ORDINANCE #866
AN ORDINANCE AMENDING ORDINANCE #761, PERTAINING
TO PROVISIONS FOR SUBDIVISION AND MOBILE HOME
PARK DEVELOPMENT
BE IT ORDAINED by the Acadia Parish Police Jury; that the Acadia Parish Police Jury Code of Ordinances is hereby amended to add the following Ordinance:
SECTION I
DEFINITIONS
“Accommodations” means any tract of land developed or used for the purpose of locating residential units regardless whether the tract is rented independent of the residential unit or in combination.
SECTION II. All other Sections of Ordinance #761 shall remain in full force and effect. This Ordinance shall have full force & effect from and after the date of this adoption.
SECTION III. All Ordinance or parts of Ordinances contrary to or in conflict herewith are hereby repealed.
The Ordinance was offered by Mrs. Cecelia Broussard, seconded by Mrs. Catherine LaCombe, and after being read and considered section by section, was adopted as a whole by the following vote:
YEAS: Alton Stevenson, Catherine LaCombe, John Humble, Sr., Cecelia Broussard, Jimmie Pellerin, John Beard and Claude Courville.
NAYS: None.
ABSENT: Pat Daigle.
ADOPTED: December 16, 2003
ATTEST:
/s/ Katry Martin /s/ Claude J. Courville
KATRY MARTIN CLAUDE J. COURVILLE
SECRETARY-TREASURER PRESIDENT
PERSONNEL
A motion was offered by Mrs. Cecelia Broussard, seconded by Mrs. Catherine LaCombe, to authorize the hiring of Ms. Joni Kernan as a part-time Mosquito Control employee and Mr. John Perry and Ms. Rebecca Cormier as full-time Mosquito Control employees effective January 1, 2004, at an hourly salary of $6.25 providing all hiring requirements are met. Motion carried.
PUBLIC FACILITIES/BUILDING & GROUNDS
Legal Counsel reported on the satisfactory negotiations with Cajun Bag Company for space in the Crowley/Rayne Industrial Park.
No formal action was required.
PUBLIC WORKS/ROAD & BRIDGE
ORDINANCE #867
AN ORDINANCE MAKING IT UNLAWFUL FOR ANY PERSON TO OPERATE OR DRIVE A MOTOR VEHICLE UPON WOODY COVE ROAD IN ACADIA PARISH, LOUISIANA, AT A SPEED IN EXCESS OF TWENTY-FIVE MILES PER HOUR, AND, PROVIDING FOR THE PENALTIES FOR THE VIOLATION THEREOF.
SECTION 1. BE IT ORDAINED by the Police Jury of Acadia Parish, Louisiana, that it shall be unlawful for any person to operate or drive a motor vehicle in excess of twenty-five miles per hour on the following described Parish Road:
Woody Cove Road
SECTION 2. BE IT FURTHER ORDAINED that any person found guilty of operating or driving a motor vehicle in excess of twenty-five miles per hour on the Parish road described above, shall be guilty of a misdemeanor, and upon conviction therefore, shall be fined not more than Fifty Dollars ($50) or be imprisoned not more than ten (10) days or both.
SECTION 3. BE IT FURTHER ORDAINED that any laws or parts of laws in conflict are hereby repealed.
The Ordinance was offered by Mr. John Beard, and seconded by Mrs. Cecelia Broussard, after being read and considered section by section, was adopted as a whole by the following vote:
YEAS: Alton Stevenson, Catherine LaCombe, John Humble, Sr., Cecelia
Broussard, Jimmie Pellerin, John Beard and Claude Courville.
NAYS: None.
ABSENT: Pat Daigle.
ADOPTED: DECEMBER 16, 2003
ATTEST:
/s/ Katry Martin /s/ Claude J. Courville
KATRY MARTIN CLAUDE J. COURVILLE
SECRETARY-TREASURER PRESIDENT
Parish Bridge Inspector John Quebodeaux presented the list of Off-System Bridges recommended for replacement at a total estimated cost of $689,920.00.
A motion was offered by Mrs. Cecelia Broussard, seconded by Mrs. Catherine LaCombe, to approve the following list of bridges for replacement under the Federal Off-System Bridge Rehabilitation Program as recommended by the Parish Bridge Inspector: Wikoff Cove Road Bridge, Connie Road Bridge, Meche Road Bridge and Deer Park Road Bridge. Motion carried with one descending vote Mr. Claude Courville.
COMMENTS FROM THE PUBLIC
Parting comments were extended by outgoing members of the board as well as members of the media and the general public regarding the recent term in office.
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 JANUARY 12, 2004, AT THE HOUR OF 6:30 P.M.
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