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last updated: 03-05-2015
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Homes For Sale
Legals
Lost / Found
Unfurn. Houses
Work Wanted
Homes For Sale
For sale, located
in Mountain Home
Arkansas 4BR/2BA,
den with fire place,
full basement, asking
$110,000, call
870.425.1591.
Lost / Found
Found ring i n
Wal-mart parking
lot, call to identify
318.348.6004.

Found: Set of keys
in parking lot of Farrar
Funeral Home.

Found September
29, 2014. Call 368-
3043 to identify.

Found small floating
dock on Lake Darbonne,
call to identify,
318.283.3181.

Found ring in front
of American Legion
Hall call to describe,
318.368.8355.

Found a set of keys
between the Dean of
Flowers and the Gazette
office, please
come by the Gazette
office to identify or
call 318.368.9732.
Work Wanted
STUMP REMOVAL,
Free estimates
call James Stewart
318.243.1009 or
318.768.2554.
Legals
The following resolution was
offered by Danny A. Smith
and seconded by Sharon
Stewart:
RESOLUTION
A resolution providing for
the opening and tabulation
of the sealed and electronic
bids received for the
purchase of Fifteen Million
Dollars ($15,000,000) of
General Obligation School
Bonds, Series 2015, of
Consolidated School District
No. 1 of the Parish of
Union, State of Louisiana,
approving
the Official Notice
of Bond Sale and Official
Statement in connection
therewith, and authorizing
the President and the Secretary
of the Parish School
Board to sign copies thereof
as evidence of the approval
thereof.
BE IT RESOLVED by the
Parish School Board of
the Parish of Union, State
of Louisiana, acting as
the governing authority of
Consolidated School District
No. 1 of the Parish of Union,
State of Louisiana (the “Issuer”)
that:
SECTION 1. This Parish
School Board (the “Governing
Authority”) does
now proceed in open and
public session to open the
sealed and electronic bids
received for the purchase
of Fifteen Million Dollars
($15,000,000) of General
Obligation School Bonds,
Series 2015, of Consolidated
School District No. 1
of the Parish of Union, State
of Louisiana, authorized and
duly advertised for sale by
virtue of a resolution adopted
on January 12, 2015.
SECTION 2. The official
Notice of Bond Sale and
Official Statement prepared
in connection with the sale of
the aforementioned Bonds,
and the information contained
therein, are hereby
approved by this Governing
Authority and the President
and the Secretary of the
Governing Authority are
hereby authorized, empowered
and directed to sign
copies thereof as evidence
of the approval of the Issuer.
The foregoing resolution
having been submitted to a
vote, the vote thereon was
as follows:
School Board Members
Yea
Danny A. Smith
Frankie F. Futch
Shannon J. Barkley
John Ellis
Sharon Stewart
Challana Ray Dean
Nay-None
Absent
Robert C. James, Jr.
Judy Mabry
Clyde Hays
Abstaining-None
And the resolution was declared
adopted on this, the
12th day of February, 2015.
/s/ George Cannon
Secretary
/s/ Robert C. James,
Jr.
President
The bids received on February
12, 2015, for the
purchase of Fifteen Million
Dollars ($15,000,000) of
General Obligation School
Bonds, Series 2015, of
Consolidated School District
No. 1 of the Parish of
Union, State of Louisiana,
were thereupon opened
and read in public session
of the Governing Authority,
said bids being based upon
the maturity schedule set out
in the Official Statement and
hereinafter set out in these
proceedings,
said bids being
as follows, to‑wit:
Bidder/TIC
Robert W. Baird & Co., Inc.
3.174%
Fidelity Capital Markets
3.379
Crews & Associates, Inc.
3.428
The following resolution
was offered by John Ellis
and seconded by Challana
Ray Dean:
RESOLUTION
A resolution accepting the
bid of Robert W. Baird &
Co., Inc., of Milwaukee,
Wisconsin, for the purchase
of Fifteen Million Dollars
($15,000,000) of General
Obligation School Bonds,
Series 2015, of Consolidated
School District No. 1
of the Parish of Union, State
of Louisiana.
WHEREAS, pursuant to the
provisions of a Notice of
Bond Sale dated January
12, 2015, published in the
manner required by law, and
pursuant to the provisions
of a resolution adopted by
the Parish School Board of
the Parish of Union, State
of Louisiana, the governing
authority of Consolidated
School District No. 1 of the
Parish of Union, State of
Louisiana (the “Issuer”) on
January 12, 2015, bids were
solicited for the purchase
of Fifteen Million Dollars
($15,000,000) of General
Obligation School Bonds,
Series 2015, of the Issuer
(the “Bonds”), on February
12, 2015; and
WHEREAS, three (3) bids
were received for the purchase
of the Bonds; and
WHEREAS, this Parish
School Board has found
and determined
and does
hereby find and determine
that the bid submitted by
Robert W. Baird & Co., Inc.,
of Milwaukee, Wisconsin
(the “Purchaser”), complies
with all terms and conditions
prescribed by the Notice
of Bond Sale and Official
Statement; and
WHEREAS, this Parish
School Board desires to
accept said bid and to take
such action as may be
necessary to accomplish
the delivery of the Bonds to
the Purchaser;
NOW, THEREFORE, BE IT
RESOLVED by the Parish
School Board of the Parish
of Union, State of Louisiana
(the “Governing Authority”),
acting as the governing
authority of Consolidated
School District No. 1 of the
Parish of Union, State of
Louisiana, that:
SECTION 1. The bid of the
Purchaser for the purchase
of the Bonds, a copy of
which is annexed hereto as
Exhibit A, is hereby accepted
and the Bonds are hereby
awarded in compliance
with
the terms of the bid.
SECTION 2. In accordance
with the provisions of the
Preliminary Official Statement,
the acceptance and
award of each bid is conditioned
on the receipt by wire
on or before 3:30 p.m. tomorrow
of an amount equal to
1% of the principal amount of
the Bonds described in such
bid. In the event a good
faith deposit for the issue of
Bonds is not received timely,
this acceptance of such bid
and award of the sale of such
Bonds shall be void. The
amount of the good faith
deposit shall be deposited
and credited towards the
purchase price of the Bonds
without regard to any interest
earnings thereon.
SECTION 3. When the
Bonds have been properly
prepared, this Governing
Authority is hereby authorized
to deliver the Bonds
to the Purchaser upon the
payment of Fifteen Million
Dollars ($15,000,000), plus
the stipulated premium, if
any, less a credit of $150,000
for the amount of the good
faith deposit described
above.
SECTION 4. The Governing
Authority hereby finds that
due diligence has been exercised
in preparing the Bonds
for sale and in preparing the
Official Statement pertaining
to the Bonds, and in view of
that fact, the President and
Secretary of the Governing
Authority are hereby
authorized and directed to
execute and deliver to the
successful bidder, as set
forth herein, at the time of
closing, a certificate which
shall be substantially in the
form of the certificate annexed
hereto as Exhibit B.
SECTION 5. The foregoing
resolution shall take
effect immediately
upon its
adoption.
The foregoing resolution
having been submitted to a
vote, the vote thereon was
as follows:
School Board Members
Yea
Danny A. Smith
Frankie F. Futch
Shannon J. Barkley
John Ellis
Sharon Stewart
Challana Ray Dean
Nay-None
Absent
Robert C. James, Jr.
Judy Mabry
Clyde Hays
Abstaining-None
And the resolution was declared
adopted on this, the
12th day of February, 2015.
/s/ George Cannon
Secretary
/s/ Robert C. James,
Jr.
President
EXHIBIT “A”
COPY OF SUCCESSFUL
BID
A COPY IS ON FILE WITH
THE SCHOOL BOARD.
EXHIBIT “B”
OFFICIAL STATEMENT
CERTIFICATE
I, the undersigned Secretary
of the Parish School Board
of the Parish of Union, State
of Louisiana, with respect
to the Official Statement
(the “Official Statement”)
issued regarding the sale
of Fifteen Million Dollars
($15,000,000) of General
Obligation School Bonds,
Series 2015 (the “Bonds”),
of Consolidated School
District No. 1 of the Parish
of Union, State of Louisiana
(the “Issuer”), DO HEREBY
CERTIFY:
THAT, at the time of payment
for and delivery of
the Bonds and at the date
hereof, (i) the descriptions
and statements, including
financial data, of or pertaining
to Consolidated School
District No. 1 of the Parish
of Union, State of Louisiana
(the “Issuer”), on the date
of the Preliminary Official
Statement, on the date of
the Official Statement, on
the date of the sale of the
Bonds and on the date of
the delivery thereof, were
and are true in all material
respects, and, insofar as
such matters are concerned,
the Official Statement did
not and does not contain
an untrue statement of a
material fact or omit to state
a material fact required to be
stated therein or necessary
to make the statements
therein, in light of the circumstances
under which they
are made, not misleading,
(ii) insofar as the descriptions
and statements, including
financial data, of or
pertaining to governmental
and/or non‑governmental
entities other than the Issuer
and its activities,
contained
in the Official Statement are
concerned,
such descriptions,
statements and data
have been obtained from
sources which the governing
authority of the Issuer
believes to be reliable and
the said governing authority
has no reason to believe
that they are untrue or
incomplete in any material
respect, and (iii) there has
been no adverse material
change in the affairs of the
Issuer between the date of
the delivery of the Official
Statement and the date of
delivery of the Bonds.
Consolidated School District
No. 1 of the Parish of Union,
State of Louisiana
By: Secretary, Parish School
Board
Dated : 2015 (Date of
Delivery)
The following resolution was
offered by Danny A. Smith
and seconded by Frankie
F. Futch:
RESOLUTION
A resolution authorizing
the incurring of debt and
issuance of Fifteen Million
Dollars ($15,000,000) of
General Obligation School
Bonds, Series 2015,
of
Consolidated School District
No. 1 of the Parish
of Union, State of Louisiana;
prescribing
the form,
terms and conditions
of said
Bonds;
designating
the date,
denomination
and place of
payment
of said Bonds;
providing
for the payment
thereof in principal and
interest; and providing
for
other matters in connection
therewith.
BE IT RESOLVED by the
Parish School Board of
the Parish of Union, State
of Louisiana, acting as
the governing authority
of
Consolidated School District
No. 1 of the Parish of Union,
State of Louisiana, that:
SECTION 1. Definitions. As
used herein, the following
terms shall have the following
meanings, unless the
context otherwise requires:
“Agreement” means the
agreement to be entered
into between the Issuer and
the Paying Agent pursuant
to this Resolution.
“Bond” means any Bonds of
the Issuer authorized to be
issued by this Resolution,
whether initially delivered
or issued in exchange for,
upon transfer of, or in lieu of
any Bond previously issued.
“Bond Register” means the
records kept by the Paying
Agent at its principal corporate
trust office in which
registration of the Bonds and
transfers of the Bondsshall
be made as provided herein.
“Bonds” means the Issuer’s
General Obligation School
Bonds, Series 2015, authorized
by this Resolution in
the total aggregate principal
amount of Fifteen Million
Dollars ($15,000,000), authorized
at a special election
held on May 3, 2014.
“Code” means the Internal
Revenue Code of 1986, as
amended.
“Defeasance Obligations”
means cash or Government
Securities.
“Executive Officers” means,
collectively,
the President
and the Secretary of the
Governing Authority.
“Governing Authority”
means the Parish School
Board of the Parish of Union,
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.
AInsurer@ means, with
respect to the Bonds, Build
America Mutual Assurance
Company (ABAM@), a
New York domiciled mutual
insurance company, or any
successor thereto or assigned
thereof.
“Interest Payment Date”
means March 1 and September
1 of each year during
the period the Bonds are
outstanding, commencing
September 1, 2015.
“Issuer” means Consolidated
School District No. 1
of the Parish of Union, State
of Louisiana.
AMunicipal Bond Insurance
Policy@ or AInsurance
Policy@ shall mean the
municipal bond insurance
policy issued by the Insurer
guaranteeing the scheduled
payment of the principal of
and interest on the Bonds
when due as provided
therein.
“Outstanding” when used
with respect to Bonds
means, as of the date of
determination,
all Bonds
theretofore
issued and delivered
under this Resolution,
except:
1. Bonds theretofore canceled
by the Paying Agent
or delivered to the Paying
Agent for cancellation;
2. Bonds for payment or
redemption of which sufficient
Defeasance Obligations
have been theretofore
deposited in trust for the
owners of such Bonds, provided
that if such Bonds are
to be redeemed, irrevocable
notice of such redemption
has been duly given or
provided for pursuant to this
Resolution or waived;
3. Bonds in exchange for or
in lieu of which other Bonds
have been registered and
delivered
pursuant to this
Resolution; and
4. Bonds alleged to have
been mutilated, destroyed,
lost or stolen which have
been paid as provided in this
Resolution or by law.
“Owner” or “Owners” when
used with respect to any
Bond means the Person
in whose name such Bond
is registered in the Bond
Register.
“Paying Agent” means
Argent Trust Company,
N.A., in the City of Ruston,
Louisiana, until a successor
Paying Agent shall have
been appointed
pursuant
to the applicable provisions
of this Resolution and
thereafter “Paying Agent”
shall mean such successor
Paying Agent.
“Person” means any
individual, corporation,
partnership,
joint venture,
association, joint‑stock company,
trust, unincorporated
organization or government
or any agency or political
subdivision thereof.
“Purchaser” means Robert
W. Baird & Co., Inc., of
Milwaukee, Wisconsin, the
original purchaser
of the
Bonds.
“Record Date” for the interest
payable on any Interest
Payment Date means the
15th calendar day of the
month next preceding such
Interest Payment Date.
“Resolution” means this
resolution authorizing the
issuance of the Bonds, as it
may be supplemented and
amended.
SECTION 2. Authorization
of Bonds; Maturities. In
compliance with the terms
and provisions of Article VI,
Section 33 of the Constitution
of the State of Louisiana
of 1974, Sub-Part A, Part III,
Chapter 4, Title 39 of the
Louisiana Revised Statutes
of 1950, as amended, and
other constitutional and
statutory authority, authorized
at a special election
held on May 3, 2014, there
is hereby authorized the
incurring of an indebtedness
of Fifteen Million Dollars
($15,000,000) for, on behalf
of, and in the name of the
Issuer, for the purpose of
acquiring and/or improving
lands for building sites and
playgrounds, including construction
of necessary sidewalks
and streets adjacent
thereto; purchasing, erecting
and/or improving school
buildings and other school
related facilities within and
for the District, and acquiring
the necessary equipment
and furnishings therefor,
and specifically for those
facilities, technology and
security initiatives set forth
in the ACapital Improvement
Plan@ approved by the
School Board on January
13, 2014, title to which shall
be in the public. To represent
said indebtedness,
this Governing
Authority
does hereby authorize the
issuance of Fifteen Million
Dollars ($15,000,000) of
General Obligation School
Bonds, Series 2015, of
the Issuer. The Bonds
shall be in fully registered
form, shall be dated the
date of delivery, shall be
issued in the denomination
of Five Thousand Dollars
($5,000) or any integral
multiple thereof within a
single maturity and shall be
numbered from R‑1 upward.
The unpaid principal of the
Bonds shall bear interest
from the date thereof or
from the most recent Interest
Payment Date to which
interest has been paid or
duly provided for, payable on
each Interest Payment Date,
commencing September 1,
2015, at the following
rates
of interest and shall mature
serially on March 1 of each
year as follows:
Year
(Mar.
1)
Principal
Maturing
Interest
Rate
Per
Annum
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
$595,000
615,000
640,000
665,000
690,000
715,000
745,000
775,000
800,000
835,000
865,000
900,000
930,000
970,000
1,005,000
1,045,000
1,085,000
1,125,000
5.000%
5.000
5.000
5.000
5.000
2.250
3.000
3.000
3.000
3.000
3.000
3.125
3.125
3.250
3.250
3.250
3.375
3.375
The principal of the Bonds,
upon maturity or redemption,
shall be payable at
the principal corporate
trust
office of the Paying Agent,
upon presentation and surrender
thereof, and interest
on the Bonds shall be payable
by check mailed by the
Paying Agent to the Owner
(determined as of the close
of business on the Record
Date) at the address shown
on the Bond Register. Each
Bond delivered under this
Resolution upon transfer of,
in exchange for or in lieu of
any other Bond shall carry all
the rights to interest accrued
and unpaid, and to accrue,
which were carried by such
other Bond, and each such
Bond shall bear interest (as
herein set forth) so neither
gain nor loss in interest shall
result from such transfer,
exchange or substitution.
During any period after the
initial delivery of the Bonds in
book-entry-only form when
the Bonds are delivered in
multiple certificates form,
upon request of a registered
owner of at least $1,000,000
in principal amount of Bonds
outstanding, all payments
of principal, premium, if
any, and interest on the
Bonds will be made by wire
transfer in immediately
available funds to an account
designated by such
registered owner; CUSIP
number identification with
appropriate dollar amounts
for each CUSIP number will
accompany all payments
of principal, premium, and
interest, whether by check
or by wire transfer.
No Bond shall be entitled
to any right or benefit under
this Resolution, or be valid or
obligatory
for any purpose,
unless there appears on
such Bond a certificate of
registration,
substantially
in the form provided in this
Resolution, executed by the
Paying Agent by manual
signature.
SECTION 3. Book-Entry
Registration of Bonds. The
Bonds shall be initially issued
in the name of Cede
& Co., as nominee for The
Depository Trust Company
(“DTC”), as registered owner
of the Bonds, and held in the
custody of DTC. The Secretary
of the Issuer or any other
officer of the Issuer is authorized
to execute and deliver
a Letter of Representation to
DTC on behalf of the Issuer
with respect to the issuance
of the Bonds in “book-entry
only” format. The Paying
Agent is hereby directed
to execute said Letter of
Representation. The terms
and provisions of said Letter
of Representation shall
govern in the event of any
inconsistency between the
provisions of this Resolution
and said Letter of Representation.
Initially, a single
certificate will be issued and
delivered to DTC for each
maturity of the Bonds. The
Beneficial Owners will not
receive physical delivery of
Bond certificates except as
provided herein. Beneficial
Owners are expected to receive
a written confirmation
of their purchase providing
details of each Bond acquired.
For so long as DTC
shall continue to serve as
securities depository for the
Bonds as provided herein,
all transfers of beneficial
ownership interest will be
made by book-entry only,
and no investor or other
party purchasing, selling or
otherwise transferring beneficial
ownership of Bonds
is to receive, hold or deliver
any Bond certificate.
Notwithstanding anything
to the contrary herein, while
the Bonds are issued in
book-entry-only form, the
payment of principal of,
premium, if any, and interest
on the Bonds may be
payable by the Paying Agent
by wire transfer to DTC in
accordance with the Letter
of Representation.
For every transfer and exchange
of the Bonds, the
Beneficial Owner may be
charged a sum sufficient
to cover such Beneficial
Owner’s allocable share of
any tax, fee or other governmental
charge that may be
imposed in relation thereto.
Bond certificates are required
to be delivered to and
registered in the name of the
Beneficial Owner under the
following circumstances:
(a) DTC determines to
discontinue providing its
service with respect to the
Bonds. Such a determination
may be made at any time
by giving 30 days’ notice to
the Issuer and the Paying
Agent and discharging its
responsibilities with respect
thereto under applicable
law; or
(b) The Issuer determines
that continuation of the system
of book-entry transfer
through DTC (or a successor
securities depository) is not
in the best interests of the
Issuer and/or the Beneficial
Owners.
The Issuer and the Paying
Agent will recognize
DTC or its nominee as the
Bondholder for all purposes,
including notices and voting.
Neither the Issuer nor the
Paying Agent are responsible
for the performance by
DTC of any of its obligations,
including, without limitation,
the payment of moneys
received by DTC, the forwarding
of notices received
by DTC or the giving of any
consent or proxy in lieu of
consent.
Whenever during the term
of the Bonds the beneficial
ownership thereof is determined
by a book entry at
DTC, the requirements of
this Resolution of holding,
delivering or transferring
the Bonds shall be deemed
modified to require the appropriate
person to meet the
requirements of DTC as to
registering or transferring
the book entry to produce
the same effect.
If at any time DTC ceases
to hold the Bonds, all references
herein to DTC shall be
of no further force or effect.
SECTION
4. Redemption
Provisions. The Bonds maturing
on March 1, 2026, and
thereafter, will be callable for
redemption by the Issuer in
full or in part at any time on
or after March 1, 2025, and if
less than a full maturity, then
by lot within such maturity, at
the principal amount thereof,
plus accrued interest from
the most recent Interest
Payment Date to which interest
has been paid or duly
provided for. In the event a
Bond to be redeemed is of
a denomination larger than
$5,000, a portion of such
Bond ($5,000 or any multiple
thereof) may be redeemed.
Bonds are not required to
be redeemed in inverse
order of maturity. Official
notice of such call of any of
the Bondsfor
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 Bond to be redeemed
at his address as shown on
the Bond Register.
SECTION 5. Registration
and Transfer. The Issuer
shall cause the BondRegister
to be kept by the Paying
Agent. The Bonds may be
transferred, registered and
assigned only on the BondRegister,
and such registration
shall be at the expense
of the Issuer. A Bond may
be assigned by the execution
of an assignment form
on the Bondor
by other
instruments of transfer and
assignment acceptable
to
the Paying Agent. A new
Bond or Bonds will be delivered
by the Paying Agent to
the last assignee (the new
Owner) in exchange for such
transferred and assigned
Bonds after receipt of the
Bonds to be transferred
in proper form. Such new
Bondor
Bonds shall be in the
denomination of $5,000 or
any integral multiple thereof
within a single maturity. Neither
the Issuer nor the Paying
Agent shall be required
to issue, register, transfer
or exchange (i) any Bond
during a period beginning at
the opening of business on
a Record Date and ending
at the close of business on
the Interest Payment Date,
or (ii) any Bond called for
redemption prior to maturity
during a period beginning
at the opening of business
fifteen (15) days before the
date of the mailing of a notice
of redemption of such Bond
and ending on the date of
such redemption.
SECTION 6. Form of Bonds.
The Bonds and the endorsements
to appear thereon
shall be in substantially the
following forms, respectively,
to‑wit:
(FORM OF BOND)
Unless this Bond is presented
by an authorized
representative of the Depository
Trust Company,
a New York corporation
(“DTC”), to the Issuer or
their agent for registration of
transfer, exchange, or payment,
and any Bond issued
is registered in the name of
CEDE & CO. or in such other
name as is requested by an
authorized representative
of DTC (and any payment
is made to CEDE & CO.
or to such other entity as is
requested by an authorized
representative of DTC), ANY
TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR
VALUE OR OTHERWISE
BY OR TO ANY PERSON
IS WRONGFUL inasmuch
as the registered owner
hereof, CEDE & CO., has
an interest herein.
As provided in the Resolution
referred to herein,
until the termination
of the
system of book-entry-only
transfers through DTC and
notwithstanding any other
provision of the Resolution
to the contrary, this Bond
may be transferred, in
whole but not in part, only
to a nominee of DTC, or by
a nominee of DTC to DTC
or a nominee of DTC, or by
DTC or a nominee of DTC
to any successor securities
depository or any nominee
thereof.
No. R-_____
P r i n c i p a l A m o u n t
$_________
UNITED STATES OF
AMERICA
STATE OF LOUISIANA
PARISH OF UNION
GENERAL OBLIGATION
SCHOOL BOND, SERIES
2015
OF CONSOLIDATED
SCHOOL DISTRICT NO. 1
OF THE PARISH OF
UNION, STATE OF LOUISIANA
Maturity Date
March 1, Interest
Rate
%
Bond Date
, 2015
CUSIP Number
CONSOLIDATED SCHOOL
DISTRICT NO. 1 OF THE
PARISH OF UNION, STATE
OF LOUISIANA (the “Issuer”),
promises
to pay to:
REGISTERED OWNER:
CEDE & CO. (Tax Identification
#13-2555119)
PRINCIPAL AMOUNT:
DOLLARS
or registered assigns, on
the Maturity Date set forth
above, the Principal Amount
set forth above, together
with interest thereon from
the Bond Date set forth
above or the most recent
interest payment date to
which interest has been paid
or duly provided for, payable
on March 1 and September
1 of each year, commencing
September 1, 2015
(each an “Interest Payment
Date”), at the Interest
Rate
per annum set forth above
until said Principal Amount is
paid, unless this Bond shall
have been previously
called
for redemption and payment
shall have been duly
made or provided for. The
principal of and premium,
if any, on this Bond, upon
maturity or redemption,
shall
be payable at the principal
corporate trust office of
Argent Trust Company,
N.A., in the City of Ruston,
Louisiana, or successor
thereto (the “Paying Agent”)
upon presentation and
surrender hereof. Interest
on this Bond is payable by
check of the Paying Agent
mailed by the Paying Agent
to the registered owner at
the address as shown on
the registration books of the
Paying Agent maintained for
such purpose. The interest
so payable on any Interest
Payment Date will be paid to
the person in whose name
this Bond (or one or more
predecessor Bonds) is registered
at the close of business
on the Record Date (which
is the 15th calendar day of
the month next preceding an
Interest Payment Date). Any
interest not punctually paid
or duly provided for shall
be payable as provided in
the Resolution (hereinafter
defined).
During any period after the
initial delivery of the Bonds in
book-entry-only form when
the Bonds are delivered in
multiple certificates form,
upon request of a registered
owner of at least $1,000,000
in principal amount of Bonds
outstanding, all payment of
principal, premium, if any,
and interest on the Bonds
will be paid by wire transfer in
immediately available funds
to an account designated
by such registered owner;
CUSIP number identification
with appropriate dollar
amounts for each CUSIP
number must accompany all
payments of principal, premium,
and interest, whether
by check or by wire transfer.
FOR SO LONG AS THIS
BOND IS HELD IN BOOKENTRY
FORM REGISTERED
IN THE NAME
OF CEDE & CO. ON THE
REGISTRATION BOOKS
OF THE ISSUER KEPT
BY THE PAYING AGENT,
AS BOND REGISTRAR,
THIS BOND, IF CALLED
FOR PARTIAL REDEMPTION
IN ACCORDANCE
WITH THE RESOLUTION,
SHALL BECOME DUE
AND PAYABLE ON THE
REDEMPTION DATE DESIGNATED
IN THE NOTICE
OF REDEMPTION
GIVEN
IN ACCORDANCE WITH
THE RESOLUTION AT,
AND ONLY TO THE EXTENT
OF, THE REDEMPTION
PRICE, PLUS ACCRUED
INTEREST TO THE
SPECIFIED REDEMPTION
DATE; AND THIS BOND
SHALL BE PAID, TO THE
EXTENT SO REDEEMED,
(i) UPON PRESENTATION
AND SURRENDER
HEREOF AT THE OFFICE
SPECIFIED IN SUCH
NOTICE OR (ii) AT THE
WRITTEN REQUEST OF
CEDE & CO., BY CHECK
MAILED TO CEDE & CO.
BY THE PAYING AGENT
OR BY WIRE TRANSFER
TO CEDE & CO. BY THE
PAYING AGENT IF CEDE
& CO. AS BONDOWNER
SO ELECTS. IF, ON THE
REDEMPTION DATE,
MONEYS FOR THE REDEMPTION
OF BONDS OF
SUCH MATURITY TO BE
REDEEMED, TOGETHER
WITH INTEREST TO THE
REDEMPTION DATE,
SHALL BE HELD BY THE
PAYING AGENT SO AS TO
BE AVAILABLE THEREFOR
ON SUCH DATE, AND AFTER
NOTICE OF REDEMPTION
SHALL HAVE BEEN
GIVEN IN ACCORDANCE
WITH THE RESOLUTION,
THEN, FROM AND AFTER
THE REDEMPTION
DATE, THE AGGREGATE
PRINCIPAL AMOUNT OF
THIS BOND SHALL BE
IMMEDIATELY
REDUCED
BY AN AMOUNT EQUAL TO
THE AGGREGATE PRINCIPAL
AMOUNT THEREOF
SO REDEEMED, NOTWITHSTANDING
WHETHER
THIS BOND HAS BEEN
SURRENDERED TO THE
PAYING AGENT FOR CANCELLATION.
This Bond is one of an
authorized issue aggregating
in principal
the
sum of Fifteen Million Dollars
($15,000,000) (the
“Bonds”), all of like tenor and
effect except as to number,
denomination, interest rate
and maturity, the Bondshaving
been issued by the
Issuer pursuant to a resolution
adopted by its governing
authority
on February 12,
2015 (the “Resolution”), for
the purpose of acquiring
and/or improving lands for
building sites and playgrounds,
including construction
of necessary sidewalks
and streets adjacent thereto;
purchasing, erecting and/or
improving school buildings
and other school related
facilities within and for the
District, and acquiring the
necessary equipment and
furnishings therefor, and
specifically for those facilities,
technology and security
initiatives set forth in
the ACapital Improvement
Plan@ approved by the
School Board on January
13, 2014, title to which
shall be in the public, under
the authority conferred by
Article VI, Section 33 of the
Constitution of the State of
Louisiana of 1974, Sub-
Part A, Part III, Chapter 4,
Title 39 of the Louisiana
Revised Statutes of 1950,
as amended, and other
constitutional and statutory
authority, being the second
emission of bonds authorized
at a special election
held on May 3, 2014, the
result of which election has
been duly promulgated in
accordance with law.
The Bonds are issuable only
as fully registered bonds in
the denomination of $5,000
principal amount or any
integral multiple thereof,
exchangeable for an equal
aggregate principal amount
of bonds of the same maturity
of any other authorized
denomination.
Subject to the limitations of
and upon payment of the
charges provided in the
Resolution, the transfer of
this Bond may be registered
on the registration books
of the Paying Agent upon
surrender of this Bond at
the principal corporate trust
office of the Paying Agent as
registrar, accompanied by a
written instrument of transfer
in form and with guaranty of
signature satisfactory to the
Paying Agent, duly executed
by the registered owner or
his attorney duly authorized
in writing, and thereupon
a new bond or bonds of
the same maturity and of
authorized denomination
or denominations, for the
same aggregate principal
amount, will be issued to
the transferee. Prior to due
presentment for registration
of transfer of this Bond, the
Issuer and the Paying Agent
may deem and treat the
person in whose name this
Bond is registered as the
absolute owner hereof for
all purposes, whether or not
this Bond shall be overdue
and neither the Issuer nor
the Paying Agent shall be
bound by any notice to the
contrary.
The Bonds maturing on
March 1, 2026, and thereafter,
will be callable for
redemption by the Issuer in
full or in part at any time on
or after March 1, 2025, and if
less than a full maturity, then
by lot within such maturity, at
the principal amount thereof,
plus accrued interest from
the most recent Interest
Payment Date to which interest
has been paid or duly
provided for. In the event a
Bond to be redeemed is of
a denomination larger than
$5,000, a portion of such
Bond ($5,000 or any multiple
thereof) may be redeemed.
Bonds are not required to
be redeemed in inverse
order of maturity. Official
notice of such call of any of
the Bondsfor
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 Bond to be redeemed
at his address as shown on
the Bond Register.
The Resolution permits,
with certain exceptions
as therein provided, the
amendment thereof and the
modifications of the rights
and obligations of the Issuer
and the rights of the owners
of the Bonds at any time by
the Issuer with consent of the
owners of two-thirds (2/3)
of the aggregate principal
amount of all Bonds issued
under the Resolution, to be
determined in accordance
with the Resolution.
This Bond 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.
This Bond and the issue of
which it forms a part constitute
general obligations
of the Issuer, and the full
faith and credit of the Issuer
is pledged for the payment
of this Bond and the issue
of which it forms a part.
Said Bonds are secured
by a special ad valorem
tax to be imposed and collected
annually in excess
of all other taxes on all the
property subject to such
taxation within the territorial
limits of the Issuer, under
the Constitution and laws
of Louisiana, sufficient in
amount to pay the principal
of this Bond and the issue
of which it forms a part and
the interest thereon as they
severally mature.
This Bond and the issue of
which it forms a part have
been duly registered with
the Secretary of State of
the State of Louisiana as
provided by law.
It is hereby 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 Bond 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 Bond 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.
It is certified that this Bond
is authorized by and is
issued in conformity with
the requirements of the
Constitution and statutes
of this State.
IN WITNESS WHEREOF,
Consolidated School District
No. 1 of the Parish of
Union, State of Louisiana
has caused this Bond to
be executed in its name
by the manual or facsimile
signatures of the President
and Secretary of its governing
authority, the Parish
School Board of the Parish
of Union, State of Louisiana,
and the corporate seal of
said governing authority to
be impressed hereon.
CONSOLIDATED SCHOOL
DISTRICT NO. 1 OF THE
PARISH OF UNION, STATE
OF LOUISIANA
(facsimile)
Secretary,
Union Parish School Board
(facsimile)
President,
Union Parish School Board
(SEAL)
* * * * * * * *
(FORM OF SECRETARY
OF STATE ENDORSEMENT
- TO BE PRINTED
ON ALL BONDS)
OFFICE OF SECRETARY
OF STATE
STATE OF LOUISIANA
This Bond secured by a tax.
Registered on this the ____
day of ________, 2015.
Secretary of State
* * * * * * * *
(FORM OF PAYING
AGENT’S CERTIFICATE
OF REGISTRATION
‑TO BE
PRINTED
ON ALL BONDS)
This Bond is one of the
Bonds referred to in the within‑mentioned
Resolution.
ARGENT TRUST COMPANY,
N.A.,
as Paying Agent
Date of Registration:
_____________
By:__________________
_____________________
Authorized Officer
* * * * * *
STATEMENT OF INSURANCE
(TO BE INSERTED IN
BONDS)
Build America Mutual Assurance
Company (ABAM@),
New York, New York, has
delivered its municipal bond
insurance policy (the APolicy@)
with respect to the
scheduled payments due
of principal of and interest
on this Bond to ARGENT
TRUST COMPANY, N.A.,
Ruston, Louisiana, or its
successor, as paying agent
for the Bonds (the APaying
Agent@). Said Policy is
on file and available for
inspection at the principal
office of the Paying Agent
and a copy thereof may be
obtained from BAM or the
Paying Agent. All payments
required to be made under
the Policy shall be made
in accordance with the
provisions thereof. By its
purchase of these Bonds,
the owner acknowledges
and consents to the subrogation
and all other rights of
BAM as more fully set forth
in the Policy.
* * * * * *
(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 Bond and all rights
thereunder, and hereby
irrevocably constitutes and
appoints ______________
_____________________
_____________________
attorney or agent to transfer
the within Bond 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 Bond in every
particular, without alteration
or enlargement
or any
change whatever.
* * * * * * * * *
(FORM OF LEGAL OPINION
CERTIFICATE ‑TO BE
PRINTED ON ALL BONDS)
I, the undersigned Secretary
of the Parish School Board of
the Parish of Union, State of
Louisiana, do hereby certify
that the following is a true
copy of the complete legal
opinion of Foley & Judell,
L.L.P., the original of which
was manually executed,
dated and issued as of the
date of payment for and delivery
of the original Bondsof
the issue described therein
and was delivered to Robert
W. Baird & Co., Inc., of
Milwaukee, Wisconsin, the
original purchaser thereof:
(Bond Printer Shall Insert
Legal Opinion)
I further certify that an executed
copy of the above
legal opinion is on file in my
office, and that an executed
copy thereof has been furnished
to the Paying Agent
for this Bond.
(facsimile)
Secretary,
Union Parish School Board
* * * * * * * * *
SECTION 7. Execution of
Bonds. The Bondsshall
be signed by the Executive
Officers for, on behalf of, in
the name of and under the
corporate seal of the Issuer,
and the Legal Opinion Certificate
shall be signed by the
Secretary of the Governing
Authority, which signatures
and corporate seal may be
either manual or facsimile.
SECTION 8. Registration of
Bonds. The Bonds shall be
registered with the Secretary
of State of the State of Louisiana
as provided by law and
shall bear the endorsement
of the Secretary of State in
substantially the form set
forth herein, provided that
such endorsement shall be
manually signed only on the
Bonds initially delivered to
the Purchaser, and Bonds
subsequently exchanged
therefor as permitted in this
Resolution may bear the
facsimile signature of said
Secretary of State.
SECTION 9. Pledge of Full
Faith and Credit. The Bonds
shall constitute general obligations
of the Issuer, and
the full faith and credit of the
Issuer is hereby pledged
for their payment. This
Governing Authority does hereby obligate itself and
is bound under the terms
and provisions of law and
the election authorizing the
Bonds to impose and collect
annually in excess of all
other taxes a tax on all of the
property subject to taxation
within the territorial limits
of the Issuer, sufficient to
pay the principal of and the
interest on the Bonds falling
due each year, said tax to be
levied and collected by the
same officers, in the same
manner and at the same time
as other taxes are levied and
collected within the territorial
limits of the Issuer.
SECTION 10. Sinking
Fund. For the payment
of the principal of and the
interest on the Bonds, the
Issuer has established a
special fund, held by the
regularly designated fiscal
agent of the Issuer (the
“Sinking Fund”), into which
the Issuer will deposit the
proceeds of the aforesaid
special tax and no other
moneys whatsoever (other
than investment earnings
thereon). The depository
for the Sinking Fund shall
transfer from the Sinking
Fund to the Paying Agent at
least two (2) days in advance
of each Interest Payment
Date, funds fully sufficient
to pay promptly the principal
and interest falling due on
such date.
All moneys deposited with
the regularly designated
fiscal agent bank or banks
of the Issuer or the Paying
Agent under the terms of this
Resolution shall constitute
sacred funds for the benefit
of the Owners of the Bonds,
and shall be secured by
said fiduciaries at all times
to the full extent thereof in
the manner required by law
for the securing of deposits
of public funds.
All or any part of the moneys
in the Sinking Fund shall,
at the written request of
the Issuer, be invested in
accordance with the provisions
of the laws of the State
of Louisiana, in which event
all income derived from such
investments
shall be added
only to the Sinking Fund.
SECTION 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 Bondsto
be
printed, to issue, execute
and seal the Bonds, and
to effect delivery thereof as
hereinafter provided. The
proceeds derived from the
sale of the Bonds,
except
accrued interest, shall be
deposited by the Issuer
in a bank or banks to be
used only for the purpose
for which the Bonds are
issued. Accrued interest, if
any, derived from the sale of
the Bonds shall be deposited
in the Sinking Fund to be
applied to the first interest
payment.
SECTION 12. Bonds Legal
Obligations. The Bonds
shall constitute legal, binding
and valid obligations
of the Issuer, and shall be
the only representations of
the indebtedness as herein
authorized and created.
SECTION 13. Resolution
a Contract. The provisions
of this Resolution
shall constitute a contract
between the Issuer and its
successors, and the Owner
or Owners from time to time
of the Bonds and any such
Owner or Owners may at
law or in equity, by suit,
action, mandamus or other
proceedings, enforce and
compel the performance
of all duties required to be
performed by the Governing
Authority or the Issuer as a
result of issuing the Bonds.
No material modification or
amendment
of this Resolution,
or of any resolution
amendatory hereof or
supplemental
hereto, may
be made without the consent
in writing of the Owners of
two‑thirds (2/3) of the aggregate
principal amount of
the Bonds then outstanding;
provided, however, that no
modification or amendment
shall permit a change in
the maturity or redemption
provisions of the Bonds,
or a reduction in the rate of
interest thereon, or in the
amount of the principal obligation
thereof, or affecting
the obligation of the Issuer to
pay the principal of and the
interest on the Bonds as the
same shall come due from
the revenues appropriated,
pledged and dedicated to
the payment thereof by this
Resolution, or reduce the
percentage of the Owners
required to consent to any
material modification or
amendment of this Resolution,
without the consent of
the Owners of the Bonds.
Any amendment or supplement
to the Bond Resolution
shall be subject to the prior
written consent of the Insurer.
Any rating agency rating
the Bonds must receive
notice of each amendment
and a copy thereof at least
fifteen(15) days in advance
of its execution or adoption.
The Insurer shall be
provided with a full transcript
of all proceedings relating to
the execution of any such
amendment or supplement.
A supplemental resolution,
upon the filing with the
Paying Agent of a certified
copy thereof, shall become
fully effective in accordance
with its terms.
SECTION
14. Severability;
Application of Subsequently
Enacted Laws. In case any
one or more of the provisions
of this Resolution or
of the Bonds shall for any
reason be held to be illegal
or invalid, such illegality or
invalidity shall not affect
any other provisions of this
Resolution or of the Bonds,
but this Resolution and the
Bondsshall
be construed
and enforced as if such illegal
or invalid provisions had
not been contained therein.
Any constitutional
or statutory
provisions
enacted after
the date of this Resolution
which validate
or make legal
any provision of the Resolution
and/or the Bondswhich
would not otherwise be valid
or legal, shall be deemed to
apply to this Resolution and
to the Bonds.
SECTION 15. Recital
of Regularity. This Governing
Authority having
investigated
the regularity
of the proceedings had in
connection with the Bonds
herein authorized and having
determined
the same
to be regular, the Bonds
shall contain the following
recital, to‑wit:
“It is certified that this Bondis
authorized by and is
issued in conformity with
the requirements
of the
Constitution and statutes
of this State.”
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 Bond is registered
as the Owner of such Bond
for the purpose of receiving
payment of the principal
(and redemption price) of
and interest on such Bond
and for all other purposes
whatsoever,
and to the extent
permitted by law, neither
the Issuer, the Paying Agent,
nor any agent of either of
them shall be affected by
notice to the contrary.
SECTION
17. Notices to
Owners. Wherever this
Resolution provides
for
notice to Owners of Bondsof
any event, such notice shall
be sufficiently given (unless
otherwise herein expressly
provided) if in writing and
mailed, first‑class postage
prepaid, to each Owner of
such Bonds, at the address
of such Owner as it appears
in the Bond Register. In any
case where notice to Owners
of Bonds is given by mail,
neither the failure to mail
such notice to any particular
Owner of Bonds, nor any defect
in any notice so mailed,
shall affect the sufficiency
of such notice with respect
to all other Bonds. Where
this Resolution provides for
notice in any manner, such
notice may be waived in
writing by the Owner or Owners
entitled to receive such
notice, either before or after
the event, and such waiver
shall be the equivalent of
such notice. Waivers of
notice by Owners shall be
filed with the Paying Agent,
but such filing shall not be
a condition precedent to the
validity of any action taken in
reliance upon such waiver.
SECTION 18. Cancellation
of Bonds. All Bondssurrendered
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 Bondspreviously
registered and
delivered which the Issuer
may have acquired in any
manner whatsoever, and
all Bonds so delivered shall
be promptly canceled by the
Paying Agent. All canceled
Bonds held by the Paying
Agent shall be disposed
of as directed in writing by
the Issuer.
SECTION 19. Mutilated,
Destroyed, Lost or Stolen
Bonds. If (a) any mutilated
Bondis
surrendered
to the Paying Agent, or
the Issuer and the Paying
Agent receive evidence
to their satisfaction
of the
destruction, loss or theft
of any Bond, and (b) there
is delivered to the Issuer
and the Paying Agent such
security or indemnity as
may be required by them
to save each of them harmless,
then, in the absence of
notice to the Issuer or the
Paying Agent that such Bond
has been acquired by a bona
fide purchaser, the Issuer
shall execute, and upon its
request the Paying Agent
shall register and deliver, in
exchange for or in lieu of any
such mutilated, destroyed,
lost, or stolen Bond, a new
Bond of the same maturity
and of like tenor, interest
rate and principal amount,
bearing a number not
contemporaneously outstanding.
In case any such
mutilated, destroyed, lost
or stolen Bond has become
or is about to become due
and payable, the Issuer in
its discretion may, instead
of issuing a new Bond, pay
such Bond. Upon the issuance
of any new Bond under
this Section, the Issuer may
require the payment by the
Owner of a sum sufficient
to cover any tax or other
governmental charge that
may be imposed in relation
thereto and any other expenses
(including the fees
and expenses of the Paying
Agent) connected therewith.
Every new Bond issued pursuant
to this Section in lieu
of any mutilated, destroyed,
lost or stolen bond shall
constitute a replacement
of the prior obligation of the
Issuer, whether or not the
mutilated, destroyed, lost or
stolen Bond shall be at any
time enforceable by anyone
and shall be entitled to all the
benefits of this Resolution
equally and ratably with all
other Outstanding Bonds.
Any additional procedures
set forth in the Agreement,
authorized in this Resolution,
shall also be available
with respect to mutilated,
destroyed,
lost or stolen
Bonds. The provisions of
this Section are exclusive
and shall preclude (to the
extent lawful) all other
rights and remedies with
respect to the replacement
and payment of mutilated,
destroyed,
lost or stolen
Bonds.
SECTION
20. Discharge
of Resolution; Defeasance.
If the Issuer shall pay or
cause to be paid, or there
shall otherwise
be paid to
the Owners, the principal
(and redemption price) of
and interest on the Bonds, at
the times and in the manner
stipulated in this Resolution,
then the pledge of the
money, securities, and funds
pledged under this Resolution
and all covenants,
agreements, and other obligations
of the Issuer to the
Owners of the Bonds shall
thereupon cease, terminate,
and become void and be
discharged and satisfied,
and the Paying Agent shall
pay over or deliver all money
held by it under this Resolution
to the Issuer.
Bonds or interest installments
for the payment
or redemption of which
money shall have been set
aside and shall be held in
trust (through deposit by
the Governing Authority of
funds for such payment or
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. Bonds shall
be deemed to have been
paid, prior to their maturity,
within the meaning and with
the effect expressed above
in this Section if they have
been defeased pursuant to
Chapter 14-A of Title 39 of
the Louisiana Revised Statutes
of 1950, as amended,
or any successor provisions
thereto.
SECTION 21. Successor
Paying Agent; Paying Agent
Agreement. The Issuer will
at all times maintain a Paying
Agent meeting the qualifications
hereinafter described
for the performance
of the
duties hereunder for the
Bonds. The designation
of the initial Paying Agent
in this Resolution is hereby
confirmed and approved.
The Issuer reserves the
right to appoint a successor
Paying Agent by (a)
filing with the Person then
performing such function a
certified copy of a resolution
or ordinance giving notice
of the termination of the
Agreement and appointing
a successor and (b) causing
notice to be given to each
Owner. Every Paying Agent
appointed hereunder shall at
all times be a bank or trust
company organized and
doing business under the
laws of the United States
of America or of any State,
authorized under such laws
to exercise
trust powers,
and subject to supervision
or examination by Federal
or State authority. The Executive
Officers are hereby
authorized and directed
to execute an appropriate
Agreement
with the Paying
Agent for and on behalf of
the Issuer in such form as
may be satisfactory to said
officers, the signatures
of said officers on such
Agreement to be conclusive
evidence
of the due exercise
of the authority granted
hereunder.
The Insurer shall be furnished
with written notice
of the resignation or removal
of the Paying Agent and the
appointment of any successor
thereto.
SECTION 22. Non-Arbitrage.
The Issuer covenants
and agrees that, to the extent
permitted
by the laws of the
State of Louisiana, it will
comply with the requirements
of the Code in order
to establish, maintain and
preserve the exclusion from
“gross income” of interest on
the Bonds under the Code.
The Issuer further covenants
and agrees that it will not
take any action, fail to take
any action, or permit any
action within its control to be
taken, or permit at any time
or times any of the proceeds
of the Bonds or any other
funds of the Issuer to be
used directly or indirectly
in any manner, the effect
of which would be to cause
the Bonds to be “arbitrage
bonds” or would result in
the inclusion of the interest
on any of the Bonds in gross
income under the Code,
including, without limitation,
(i) the failure to comply with
the limitation on investment
of Bondproceeds,
(ii) the
failure to pay any required
rebate of arbitrage earnings
to the United States of
America or (iii) the use of the
proceeds of the Bonds in a
manner which would cause
the Bonds to be “private
activity bonds”.
SECTION 23. Not Qualified
Tax-Exempt Obligations.
The Bonds are not designated
as “qualified tax‑exempt
obligations”
within the
meaning of Section 265(b)
(3) of the Code.
SECTION 24. Execution of
Documents. In connection
with the issuance and sale of
the Bonds, the Executive Officers
are each authorized,
empowered and directed
to execute on behalf of the
Issuer such documents, certificates
and instruments as
they may deem necessary,
upon the advice of bond
counsel, to effect the transactions
contemplated by this
Resolution, the signatures
of such persons on such
documents, certificates and
instruments to be conclusive
evidence of the due exercise
of the authority granted
hereunder.
SECTION 25. Publication. A
copy of this Resolution shall
be published immediately
after its adoption in one issue
of the official journal of
the Issuer.SECTION
26. Paying Agent
Compliance as to Payments
Pursuant to the Insurance
Policy. As long as the Insurance
Policy is in full force
and effect, the Issuer and
any Paying Agent agree to
comply with the following
provisions:
(a) At least two (2) Business
Days (as defined in the
Insurance Policy) prior to
each payment date on the
Obligations (the AInterest
Payment Date@), the Paying
Agent, will determine
whether there will be sufficient
funds in the funds
and accounts established
under the Resolution to pay
all principal of and interest
on the Obligations due on
such Interest Payment Date
and shall immediately notify
the Insurer or its designee
(the AFiscal Agent@) on
the same Business Day
by telephone or electronic
mail, confirmed in writing
by registered or certified
mail, of the amount of any
deficiency. Such notice shall
specify the amount of the
anticipated deficiency, the
Obligations to which such
deficiency is applicable
and whether such Obligations
will be deficient as to
principal or interest or both.
If the deficiency is made up
in whole or in part prior to
or on the Interest Payment
Date, the Paying Agent shall
so notify the Insurer or its
designee.
(b) The Paying Agent, shall
after giving notice to the
Insurer as provided above,
make available to the Insurer
and, at the Insurer=s direction,
to any Fiscal Agent,
the registration books of
the Issuer maintained by the
Paying Agent and all records
relating to the funds maintained
under the Resolution.
(c) The Paying Agent shall
provide the Insurer and
any Fiscal Agent with a
list of registered owners
of Obligations entitled to
receive principal or interest
payments from the Insurer
under the terms of the Policy,
and shall make arrangements
with the Insurer, the
Fiscal Agent or another
designee of the Insurer to (i)
mail checks or drafts to the
registered owners of Obligations
entitled to receive full
or partial interest payments
from the Insurer and (ii) pay
principal upon Obligations
surrendered to the Insurer,
the Fiscal Agent or another
designee of the Insurer by
the registered owners of
Obligations entitled to receive
full or partial principal
payments from the Insurer.
(d) The Paying Agent, shall,
at the time it provides
notice to the Insurer of any
deficiency pursuant to (a)
above, notify registered
owners of Obligations entitled
to receive the payment
of principal or interest
thereon from the Insurer (i)
as to such deficiency and
its entitlement to receive
principal or interest, as applicable,
(ii) that the Insurer
will remit to them all or a part
of the interest payments due
on the related payment date
upon proof of the Holder=s
entitlement thereto and
delivery to the Insurer or
any Fiscal Agent, in form
satisfactory to the Insurer, of
an appropriate assignment
of the registered owner=s
right to payment, (iii) that, if
they are entitled to receive
partial payment of principal
from the Insurer, they must
surrender the related Obligations
for payment first to
the Paying Agent, which will
note on such Obligations the
portion of the principal paid
by the Paying Agent and
second to the Insurer or its
designee, together with the
an appropriate assignment,
in form satisfactory to the
Insurer, to permit ownership
of such Obligations to be
registered in the name of the
Insurer, which will then pay
the unpaid portion of principal,
and (iv) that, if they are
entitled to receive full payment
of principal from the
Insurer, they must surrender
the related Obligations for
payment to the Insurer or
its designee, rather than the
Paying Agent, together with
an appropriate assignment,
in form satisfactory to the
Insurer, to permit ownership
of such Obligations to be
registered in the name of
the Insurer.
(e) In the event that the
Paying Agent has notice that
any payment of principal of
or interest on a Bond which
has become Due for Payment
and which is made to
a Holder by or on behalf of
the Issuer has been deemed
a preferential transfer and
theretofore recovered from
its registered owner pursuant
to the United States
Bankruptcy Code by a
trustee in bankruptcy in
accordance with the final,
nonappealable order of a
court having competent jurisdiction,
the Paying Agent
shall, at the time the Insurer
is notified pursuant to (a)
above, notify all registered
owners that in the event
that any registered owner=s
payment is so recovered,
such registered owner will
be entitled to payment from
the Insurer to the extent of
such recovery if sufficient
funds are not otherwise
available, and the Paying
Agent shall furnish to the
Insurer its records evidencing
the payments of principal
of and interest on the Obligations
which have been
made by the Paying Agent
and subsequently recovered
from registered owners and
the dates on which such
payments were made.
(f) In addition to those rights
granted to the Insurer under
the Resolution and hereunder,
the Insurer shall, to the
extent it makes any payment
of principal or interest on
the Obligations, become
subrogated to the rights of
the recipients of such payments
in accordance with
the terms of the Policy, and
to evidence such subrogation
(i) in the case of claims
for past due interest, the
Paying Agent shall note the
Insurer=s rights as subrogee
on the registration books of
the Issuer maintained by the
Paying Agent upon receipt
from the Insurer of proof of
payment of interest thereon
to the registered holders of
the Obligations, and (ii) in the
case of claims for past due
principal, the Paying Agent
shall note the Insurer=s
rights as subrogee on the
registration books of the Issuer
maintained by the Paying
Agent upon surrender of
the Obligations together with
receipt of proof of payment
of principal thereof.
SECTION 27. Continuing
Disclosure. The Executive
Officers are hereby empowered
and directed to execute
an appropriate Continuing
Disclosure Certificate (substantially
in the form set
forth in Appendix H of the
Official Statement issued
in connection with the sale
and issuance of the Bonds)
pursuant to S.E.C. Rule
15c2-12(b)(5).
SECTION 28. Section
Headings. The headings of
the various sections hereof
are inserted for convenience
of reference only and shall
not control or affect the
meaning or construction of
any of the provisions hereof.
SECTION 29. Effective
Date. This Resolution
shall become effective immediately.
The foregoing resolution
having been submitted to a
vote, the vote thereon was
as follows:
School Board Members
Yea
Danny A. Smith
Frankie F. Futch
Shannon J. Barkley
John Ellis
Sharon Stewart
Challana Ray Dean
Nay-None
Absent
Robert C. James, Jr.
Judy Mabry
Clyde Hays
Abstaining-None
And the resolution was declared
adopted on this, the
12th day of February, 2015.
/s/ George Cannon
Secretary
/s/ Robert C. James,
Jr.
President
3/5/15

D’Arbonne Storage, LLC
1106 Sterlington Hwy,
Farmerville, Louisiana, will
have a lien sale at 9:00
a.m. on March 14, 2015
which will include the following
units to be auctioned off
at a public auction:
1) Ricky Bergeron, #417 - 10
x 10, Dirt bike, fishing equipment,
hunting gear.
2) Shannon Hill #223 - 10 x
10, Household goods, tubs,
clothes.
3) Stephen Cross #409 -
Household goods, furniture
and mattresses.
Cash only to highest bidder.
Please call day of sale to
insure we will still have it
- 318-368-7201.
3/5/15

PUBLIC NOTICE
The East Union Hospital
Service District
Proposed 2015-2016
Budget will be available
for public inspection
beginning February
17, 2015 thru March
9, 2015, from 8 a.m.
to 4 p.m., Monday thru
Friday. The budget will
be posted at the Union
General Hospital and
can be located on the
conference room door.
A Public Hearing on the
proposed budget shall
be held on March 9,
2015 at 6:30 p.m. in the
conference room of the
Union General Hospital.
2/26/15, 3/5/15

We are required to monitor
your drinking water for disinfection
byproducts (total
trihalomethanes [TTHM]
and haloacetic acids-five
[HAA5]) every 90 days from
the peak historical month
(June). Results of regular
monitoring are an indicator
of whether or not your
drinking water meets health
standards. During the monitoring
period of June 2014,
and the monitoring period of
October through December,
2014, the Cox Ferry Water
System did not monitor, did
not complete all monitoring,
or did not report the results
for total trihalomethanes
(TTHMs) and haloacetic
acids-five (HAA5), and
therefore we cannot be sure
of the quality of your drinking
water during that time.
This violation occurred because
of the failure to collect
the required samples for total
trihalomethanes (TTHMs)
and haloacetic acids-five
(HAA5) from the water system’s
distribution system.
Please share this information
with all the other
people who drink this water,
especially those who may
not have received this notice
directly (for example,
people in apartments, nursing
homes, schools, and
businesses). You can do
this by posting this notice
in a public place or distributing
copies by hand or mail.
Necessary action has been
taken to prevent this violation
from recurring. This included
informing the responsible
reporting entity that quarterly
reporting is mandatory.
If you require additional
information, contact Ben
Bridges, Southern Environmental
Group, at (318)
245-7121.
Cox Ferry Association
Cox Ferry Water System
Downsville, LA
PWS ID #1111027
3/5/15

PUBLIC NOTICE
The Union Parish School
Board will meet in Regular
Session at the Union Parish
School Board Office, 1206
Marion Highway, Farmerville,
LA, on Monday, March
9, 2015 at 6:00 p.m.
3/5/15

The Downsville Water System
is currently in violation
of the Maximum contaminant
level (MCL) for total
trihalomethanes as set forth
by the State [Part XII of the
Louisiana State Sanitary
Code (LAC 51:XII)] and the
Federal Primary Drinking
Water Regulations (40 CFR
Part 141).
The United States Environmental
Protection Agency
(EPA) and the Louisiana
Department of Health and
Hospitals (LDHH) set drinking
water standards and
requires the disinfection
of drinking water. Where
disinfection is used in the
treatment of drinking water,
disinfectants combine with
naturally occurring organic
and inorganic matter present
in water to form chemicals
called disinfections byproducts
(DPBs). EPA and LDHH
set standards for controlling
the levels of disinfectants
and DBPs in drinking water,
including trihalomethanes
(THMs) and haloacetic acid
(HAAs). Some people who
drink water containing THMs
in excess of the MCL over
many years may experience
problems with their liver,
kidneys, or central nervous
system, and may have an
increased risk of getting
cancer.
In December 1998, EPS set
enforceable drinking water
standards for TTHMs at 80
parts per billion (ppb) and for
HAA5 at 60 parts per billion
(ppb) to reduce the risk of
cancer or other adverse
health effects. Compliance
with the TTHMs and
HAA5 standard for public
water systems serving less
than 10,000 individuals
initially became effective
and enforceable on January
1, 2004. Compliance
with the TTHMs standard
is determined by calculating
a locational running
annual average (LRAA) of
quarterly TTHMs sample
results. Compliance calculations
performed for the
third quarter of 2014 show
that the system’s current
TTHMs LRAA are 90 ppb
at DBP02 – Sue Calhoun
Rd & Hwy. 145 and 83 ppb
at DBP03 – 4787 Hwy. 151;
thus, the system is currently
in violation of the TTHMs
standard.
Please share this information
with all the other people
who drink this water, especially
those who may not
have received this notice directly
(for example, people in
apartment, nursing homes,
schools and businesses).
You can do this by posting
this notice in a public place
or distributing copies by
hand or mail.
This is not an emergency. If
it had been, you would have
been notified immediately.
EPA and LDHH do not consider
this violation to have
any serious adverse health
effects on human health
as a result of short-term
exposure; however, continued
long-term exposure
to TTHMs level above the
standard (e.g. 20 years of
exposure) has the potential
to have serious adverse
effects on human health.
3/5/15

We are required to monitor
your drinking water for disinfection
byproducts (total
trihalomethanes [TTHM]
and haloacetic acids-five
[HAA5] every 90 days from
the peak historical month
(August). Results of regular
monitoring are an indicator
of whether or not your
drinking water meets health
standards. During the monitoring
period of January thru
December, 2014 the Union
Parish Waterworks District
1 Water System did not
monitor, did not complete
all monitoring, or did not
report the results for total
trihalomethanes (TTHMs)
and haloacetic acids-five
(HAA5), and there fore we
cannot be sure of the quality
of your drinking water during
that time.
This violation occurred because
of the failure to collect
the required samples for total
trihalomthanes (TTHMs)
and haloacetic acids (HAA5)
from the water system’s
distribution system.
Please share this information
with all the other people
who drink this water, especially
those who may not
have received this notice directly
(for example, people in
apartments, nursing homes,
schools, and businesses).
You can do this by posting
this notice in a public place
or distributing copies by
hand or mail.
Necessary action has been
taken to prevent this violation
from recurring.
Bobby Grier 318-368-2371.
3/5/15

Town of Farmerville
Regular Meeting
February 9, 2015
The Farmerville Town Council
met in regular session
at Farmerville Town Hall,
located at 407 South Main
Street, Farmerville, Louisiana,
on February 9, 2015.
The council members present
were Mayor M. Stein
Baughman, Jr., Alderman,
Lavelle Maine, Caroline
Gatson, Wayne “Pone”
Jones, and Gerome Nation.
Alderman Jerry Taylor was
absent.
The roll was called and with
a quorum present Mayor
Baughman called the meeting
to order.
At this time Mayor Baughman
offered the public the
opportunity to voice their
opinion on all agenda items.
On motion by Gatson,
seconded by Nation and
unanimously approved to
approve the minutes from
the January 12, 2015 regular
meeting.
On motion by Maine, seconded
by Gatson and unanimously
approved to approve
the payables for January.
On motion by Nation,
seconded by Jones and
unanimously approved to
authorize the mayor to sign
contract with MML&H for
the Engineering on Downtown
Sidewalk Improvement
Project.
On motion by Nation, seconded
by Jones and unanimously
approved to approve
a new Class “A” Beer Outlet
license for Main Street Grill
located at 712 North Main St.
At this time Alderman Maine
introduced Ordinance No
01-15 pertaining to Alcohol
sales in Restaurants and
Sports Bars. A public hearing
will be held at the next regular
council meeting to hear
the views and opinion on the
adoption of this ordinance.
On motion by Jones seconded
by Gatson and unanimously
approved to adopt
Resolution No 02-15, pertaining
to Loan Resolution
for USDA.
There being no further business
to come before the
council, Mayor Baughman
adjourned this meeting the
9th day of February, 2015.
Upon motion by Nation,
seconded by Main.
Gay Nell Pepper, Town Clerk
M. Stein Baughman, Jr,
Mayor
3/5/15

Unfurn. Houses
For rent, unfurnished
2/BR house 630 N.
Spillway Rd., call
318.348.6089.