RECORD OF BOARD PROCEEDINGS (MINUTES) Bowling Green, Kentucky. 12 September 2016

Transcription

1 RECORD OF BOARD PROCEEDINGS (MINUTES) Bowling Green, Kentucky 12 September 2016 The Bowling Green Independent School Board of Education met at Bowling Green, Kentucky at 6:30 o clock p.m. on the 12 th day of September 2016 with the following members present: (1) Ms. Deborah Williams, Chair (2) Ms. Christine Dressler, Vice Chair (3) Mr. Frank H. Moore, Jr. (4) Ms. Jane G. Wilson (5) Mr. Michael K. Bishop Others Attending: Aaron Mudd The Daily News; School and District Administrators, Jarrod Shive, Community Education; Western Kentucky University Students; Regina Jackson, English, Lucas, Priest and Owsley, Attorneys; Laith Ross, Ross Tarrant Architects; Tim Geegan, Alliance Corporation, Parker-Bennett-Curry Elementary School Students and Parents PUBLIC HEARING: A public hearing was conducted on Monday, September 12 at 6:00 p.m. to discuss the proposed tax rate as required by House Bill 44. The hearing was properly advertised. Data on file in the Superintendent s Office. The Bowling Green Board of Education met in regular session at 6:30 p.m. on Monday, September 12, The meeting was held in the Joel C. Brown Administration Building, located at 1211 Center Street, Bowling Green, Kentucky. THE BOARD: Viewed Parker-Bennett-Curry Elementary School s Spotlight on Learning Recognized Tony Rose and Crew for Stuff the Bus Received a Community Education Update from Jarrod Shive Received Working Budget information ORDER # ORDER # APPROVE MINUTES Motion was made by Ms. Wilson and seconded by Mr. Moore to waive the reading and approve the minutes of the Bowling Green Independent School District for the regular meeting of August 8, 2016, as presented. APPROVE MONTHLY FINANCIAL REPORT Motion was made by Mr. Moore and seconded by Mr. Bishop to approve the Monthly Financial Report for August 2016 for the Bowling Green Independent School District General Fund, Bowling Green Junior High School (July and August) and Bowling Green Senior High School, as presented.

2 ORDER # APPROVE PAYMENT OF BILLS Motion was made by Ms. Wilson and seconded by Mr. Bishop to approve payment of bills as presented for the following: BOWLING GREEN INDPENDENT SCHOOL DISTRICT GENERAL FUND CHECK # DESCRIPTION AMOUNT Prior Boards $ 52, August Bills $ 614, EFT Prior Boards $ 130, Bank Drafts Comfuel $ 8, CERS Retirement $ 64, Kentucky State Treasurer (Fed Health Ins Match) $ 28, TSA $ 25, CHECK # ADVICE # PAYROLL DATE /12/ /26/16 Total Payrolls: $ 2,108, CHECK # DESCRIPTION AMOUNT Bowling Green Junior High School Activity Fund July Bills $ 7, August Bills 10, Bowling Green Senior High School Activity Fund August Bills $ 10, ORDER # APPROVE WORKING BUDGET FY 2017 Motion was made by Mr. Moore and seconded by Ms. Dressler to approve the Working Budget for the school year, as presented. A copy of which is on file in the Superintendent s office. ORDER # LEVYING OF TAX RATE Motion was made by Mr. Moore and seconded by Ms. Dressler to levy the school tax rate of: Real and Personal Property General Fund 67.3 cents per $100 Building Fund 10.8 cents per $100 TOTAL 78.1 cents per $100 Automobiles 60.2 cents per $100 Gross Utility Tax 3% requesting the State Department to approve same and publish same in the newspaper according to law, as presented.

3 ORDER # ORDER # ORDER # ORDER # ORDER # DECLARE MISCELLANEOUS ITEMS SURPLUS Motion was made by Ms. Dressler and seconded by Mr. Moore to declare miscellaneous items as surplus property to be disposed of or sold on GovDeals.com, as presented. List available in Superintendent s office. CERTIFIED STAFF EVALUATION APPEALS COMMITTEE Motion was made by Ms. Dressler and seconded by Ms. Wilson to acknowledge the election of Tiffany Lowder and Keely P Pool to the Certified Staff Evaluation Appeals Committee with Reneta Dieme, Dero Downing, and Julie Grim as second alternates, Jon Lawson as Board appointed administrator and Jennifer Davis as Board appointed administrator alternate, effective for the school year, as presented. ACCEPT DONATION Motion was made by Ms. Wilson and seconded by Mr. Bishop to approve a donation from Eyeconic TV for two digital monitors and a computer, as presented. APPROVE CONTRACT FOR ARCHITECTURAL SERVICES Motion was made by Mr. Moore and seconded by Ms. Wilson to approve an Owner/Architect agreement with Ross Tarrant Architects for renovation, remodeling, and new construction at Bowling Green High School, as presented. APPROVE CONTRACT FOR CONSTRUCTION MANAGEMENT SERVICES Motion was made by Mr. Bishop and seconded by Ms. Wilson to approve a contract with Alliance Corporation for construction management services for renovation, remodeling, and new construction at Bowling Green High School. Fees for the above services to be in accordance with the proposal submitted. ORDER # APPROVE SCHOOL ACTIVITY FUND FUNDRAISERS Motion was made by Ms. Wilson and seconded by Mr. Moore to approve the following school activity fund fundraisers, as presented: School Fundraiser Parker-Bennett-Curry Elementary Book Fairs, Fall and Spring W.R. McNeill Elementary Book Fair, Aug 10 - Sept 8, 2016 W.R. McNeill Elementary Book Fair, Nov 10-18, 2016 Bowling Green Junior High Spring Dance, April 18, 2017

4 ORDER # APPROVE BOWLING GREEN INDEPENDENT SCHOOL DISTRICT STUDENT/CLUB TRAVEL Motion was made by Ms. Wilson and seconded by Mr. Moore to approve the following student travel, overnight, out of state, and/or travel by commercial carrier, as presented: School Club Event Destination Date(s) BGHS Speech Team Retreat Bee Springs, KY Aug 26-27, 2016 BGHS Speech Team KESDA State Tournament Lexington, KY Feb 22-25, 2017 BGHS Speech Team KHSSL State Tournament Lexington, KY Mar 9-11, 2017 BGHS Speech Team NCFL Tournament Louisville, KY May 26, 28, 2017 BGHS Speech Team NSDA Tournament Birmingham, Al June 18-23, 2017 BGHS Cross Country Trinity Invitational Louisville, KY Sept 16-17, 2016 BGHS Cross Country Lexington Catholic Invitational Lexington, KY Oct 14-15, 2016 BGJHS Junior Games Brentwood, TN April 22, 2016 PG 5th Grade Space Camp Huntsville, AL March 5-10, 2017 ORDER # APPROVE REQUEST FOR USE OF BOWLING GREEN INDEPENDENT SCHOOL DISTRICT FACILITIES Motion was made by Ms. Dressler and seconded by Ms. Wilson to approve the following request for facilities use, as presented. Facility Requesting Organization Date(s) of Event WRM Medical Center 10K Oct 15, 2016 ORDER # APPROVE PERSONNEL POSITIONS Upon the recommendation of the Superintendent, motion was made by Ms. Dressler and seconded by Mr. Moore to approve the following personnel position items: CREATE CERTIFIED: Teacher (General Fund), McNeill Elementary School, effective October 10, 2016: Teacher (General Fund), Bowling Green Junior High School, effective October 10, 2016; Teacher (General Fund), Bowling Green High School, effective October 10, 2016; DELETE CLASSIFIED: Instructional Assistant Entry Level, Potter Gray Elementary School, effective September 13, ORDER # PERSONNEL ACTIONS As required by KRS l60.390(2), the Superintendent hereby notifies the Board of Education of the following personnel actions completed since the August 8, 2016 Board Meeting: RESIGNATION: Byron Hunt, Custodian, Maintenance Department, effective August 30, 2016; Bradley Robinson, Bus Driver, Transportation Department, effective August 26, 2016; Jessica Stockton, Bus Monitor, Transportation Department, effective June 30, 2016; Edward Tylor Waddell, Instructional Assistant Sp Ed, Bowling Green Junior High School, effective June 30, 2016;

5 ORDER # PERSONNEL ACTIONS (continued) TRANSFER: Gaila Adams, Instructional Assistant to Instructional Assistant Entry Level, Parker-Bennett-Curry Elementary School, effective August 8, 2016; Robin Carey, Substitute Bus Monitor to Bus Monitor, Transportation Department, effective August 29, 2016; Cody Clifton, Instructional Assistant Entry Level to Instructional Assistant, Parker-Bennett-Curry Elementary School, effective August 8, 2016; Michelle Evans, Substitute Bus Driver to Full-time Substitute Bus Driver, Transportation Department, effective August 29, 2016; Montoria Hill, Full-time Substitute Bus Driver to Bus Driver, Transportation Department, effective August 29, 2016; EMPLOYMENT: Joe Blair, Instructional Assistant Sp Ed,. T. C. Cherry Elementary School, effective August 8, 2016; Lakisha Brown, Substitute Custodian, Maintenance Department, effective August 22, 2016; Montoria Hill, Substitute Cafeteria Foodhandler, Food Service Department, effective August 22, 2016; Alex Huntsman, Student Worker, Bowling Green Junior High School, effective August 12, 2016; Crystal Kiehl, Fixed Asset/Inventory Specialist, Central Office, effective August 29, 2016; Robin Lawrence, Substitute Cafeteria Foodhandler, Food Service Department, effective September 6, 2016; Extended Employment/Increments Employment: Nick Baisch, ½ Assistant Athletic Director, Bowling Green High School, effective August 22, 2016; Jennifer Graham, School Technology Specialist, Potter Gray Elementary School, effective July 1, 2016; Shelby Gribbins, ½ Assistant Athletic Director, Bowling Green High School, effective August 22, 2016; James Kanan, Cross Country Assistant, Bowling Green High School, effective August 8, 2016; Leah Krisher, ½ Guidance Department Head, Bowling Green High School, effective August 8, 2016; Scott McCann, Bowling Coach, Bowling Green High School, effective August 8, 2016; Robert Proctor, Freshman Football Parapro, Bowling Green High School, effective August 8, 2016; Karen Swiney, ½ Guidance Department Head, Bowling Green High School, effective August 8, 2016; Adam Whitt, Baseball Assistant Coach, Bowling Green High School, effective August 24, 2016; Craig Widener, Girls Soccer Parapro, Bowling Green High School, effective August 22, 2016; Resignation: Houston Bunton, Boys Basketball Parapro, Bowling Green Junior High School, effective June 30, 2016; David Cross, Girls Soccer Parapro, Bowling Green High School, effective August 22, 2016; Wanda Faulkner, Academic Team Varsity Coach, Bowling Green High School, effective June 30, 2016; Katie Steele, School Technology Specialist Coordinator, T.C. Cherry Elementary School, effective August 22, 2016.

6 ORDER # APPROVE SHORTENED SCHOOL WEEK FOR STUDENT # Motion was made by Mr. Moore and seconded by Ms. Dressler to approve a shortened school week for student # based on the determination of the student s Admissions and Release Committee that a shortened school day is necessary and in the student s best interest, as presented ORDER # APPROVE SHORTENED SCHOOL WEEK FOR STUDENT # Motion was made by Mr. Moore and seconded by Ms. Dressler to approve a shortened school week for student # based on the determination of the student s Admissions and Release Committee that a shortened school day is necessary and in the student s best interest, as presented ORDER # ORDER # ORDER # ORDER # APPROVE DISTRICT ASSURANCES Motion was made by Ms. Wilson and seconded by Mr. Moore to approve the Bowling Green Independent School District Assurances, as presented. MOTION TO RECESS Motion was made by Mr. Bishop and seconded by Mr. Moore to recess the Bowling Green Independent School District Board of Education meeting to conduct the Bowling Green Independent School District Finance Corporation meeting. MOTION TO RESUME BOARD OF EDUCATION MEETING Motion was made by Mr. Bishop and seconded by Mr. Moore to resume the Board of Education meeting. APPROVE RESOLUTION Thereupon, there were presented to the Board of Education certain instruments in connection with the proposed issuance and sale of $7,330,000 (not to exceed $7,330,000 and minus any such amount that is deemed to be in the interest of the Corporation) of Bowling Green Independent School District Finance Corporation School Building Refunding Revenue Bonds, Series 2016B, dated the date of delivery (the "Bonds"). After said instruments had been duly considered, a motion was made by Mr. Bishop and seconded by Ms. Wilson that the following Resolution be adopted:

7 * * * * RESOLUTION OF THE BOARD OF EDUCATION OF THE BOWLING GREEN INDEPENDENT SCHOOL DISTRICT (THE "BOARD OF EDUCATION"), INITIATING THE REFINANCING PROCESS IN ORDER TO REFUND AND RETIRE CERTAIN SCHOOL BUILDING REVENUE BONDS ORIGINALLY ISSUED TO FINANCE CONSTRUCTION OF A NEW TC CHERRY ELEMENTARY SCHOOL (THE PROJECT ); AUTHORIZING AND APPROVING THE EXECUTION OF A CONTRACT, LEASE AND OPTION WITH THE BOWLING GREEN INDEPENDENT SCHOOL DISTRICT FINANCE CORPORATION (THE CORPORATION ) AND ANY FURTHER NECESSARY INSTRUMENTS; AND APPROVING THE PLAN OF REFINANCING SAID PROJECT GENERALLY. WHEREAS, the Board of Education (hereinafter referred to as the "Board" or the Board of Education ) in carrying out of the duties and authority vested in it determined that it was necessary to finance certain school facilities in the District through the issuance of $9,970,000 Bowling Green Independent School District Finance Corporation School Building Revenue Bonds, Series 2008, dated July 9, 2008 (the "Prior Issue"), and WHEREAS, the financing program represented by the Prior Issue was implemented through the Bowling Green Independent School District Finance Corporation (the "Corporation"). The Bonds of the Prior Issue were issued in the name of the Corporation and the Project leased to the Board under an agreement styled Contract, Lease and Option, dated as of July 1, 2008 (the "Prior Lease") at sufficient rentals to amortize the Bonds of the Prior Issue as the same became due, and WHEREAS, the present conditions of the municipal bond market are currently much more favorable than on the date on which the Bonds of the Prior Issue were sold, making it possible for the Board to realize a substantial savings in interest costs by refinancing a portion of the debt represented by the Prior Issue through the issuance of approximately $7,330,000 of Bowling Green Independent School District Finance Corporation School Building Refunding Revenue Bonds, Series 2016B, dated as of the date of delivery (the "Refunding Bonds"), and WHEREAS, the Commission will by Resolution authorize the Board to proceed with the issuance of the Refunding Bonds through the Board of Directors of the Bowling Green Independent School District Finance Corporation pursuant to the provisions of KRS through and (the "School Bond Act"), and WHEREAS, it is desired by the Board that the Corporation authorize, issue and sell said Refunding Bonds for the purpose of obtaining sufficient funds to provide for the retirement of a portion of the Bonds of the Prior Issue in order that the Board and Commission may realize substantial savings in interest costs by obtaining the benefit of lower interest rates now prevalent in the municipal bond market, and WHEREAS, the Corporation has acknowledged its willingness to cooperate with the Board and to authorize the Refunding Bonds in accordance with the provisions of the KRS through and (the "School Bond Act"), and

8 WHEREAS, upon the deposit of sufficient funds to provide for the orderly retirement of the Bonds of the Prior Issue maturing August 1, 2021 (partial refunding of the August 1, 2021 maturity) and thereafter (the "Defeased Bonds") prior to their stated maturities in a special defeasance account, the rights of the Registered Owners of the Defeased Bonds in and to the school property originally financed therefrom and in and to the income and revenues derived therefrom by the Corporation under the Prior Lease will be terminated, and WHEREAS, the Bonds of the Prior Issue maturing on August 1 in each of the years 2017 through and including a portion of the 2021 maturity and the interest thereon (the "Remaining Bonds") shall mature as originally scheduled and be paid from rentals due under the Prior Lease, and WHEREAS, it is necessary that the Board enter into a Contract, Lease and Option with the Corporation in substitution of the Prior Lease as to the Defeased Bonds in order to provide for the orderly payment of the Refunding Bonds and the rights and security interests of the Registered Owners of the Refunding Bonds, and NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF EDUCATION OF THE BOWLING GREEN INDEPENDENT SCHOOL DISTRICT, AS FOLLOWS: 1. That the Chairperson is hereby authorized and instructed to request the Secretary of the Board of Education to execute a Contract, Lease, and Option with the Corporation with respect to the Project Property, a copy of the form of which Contract, Lease, and Option, containing a description of said Property is hereby made a part of this Resolution and of the records of the meeting at which this Resolution was proposed. 2. That upon the effective date of the 2016B Lease, which effective date is to be the date on which the Refunding Bonds are issued and delivered and the proceeds thereof deposited in a special defeasance account to be used exclusively for the retirement of the Defeased Bonds, the Prior Lease shall terminate as to the Defeased Bonds and all of the rights of the Registered Owners of the Defeased Bonds in and to the subject school Project shall likewise terminate and thereafter neither the statutory mortgage lien nor the pledge of the revenues from the rental of such school properties under the Prior Lease shall constitute security and source of payment for the Bonds of the Prior Issue so defeased and the Registered Owners of such Bonds shall be paid from and secured by the deposits and investments in the Prior Bond Fund exclusively. 3. That the Chairperson is authorized and directed to execute all other and further instruments necessary and desirable in carrying out the plan of authorizing the issuance, sale and delivery of said Bonds. 4. That the public sale of the face amount of said Refunding Bonds is hereby authorized, approved, ratified and confirmed in accordance with a Bond Resolution to be adopted by the Board of Directors of the Corporation, a copy of which Bond Resolution is attached hereto and made a part of this Resolution and of the Minutes of the meeting at which it is adopted. That the designation of Branch Banking & Trust Company, as the Registrar, Transfer Agent and Escrow Agent for the Refunding Bonds and as Escrow Agent and depository for funds relating to the Refunding Bonds is hereby approved. 5. That the Secretary of the Board of Education is further authorized, on behalf of the Board of Education, to sign the Official Statement to be distributed to prospective bidders for the Refunding Bonds, in such form as may be submitted by J.J.B. Hilliard, W.L. Lyons, LLC, the Fiscal Agent of the Board of Education in connection with said bond issue.

9 6. That the Secretary of the Board of Education be and is hereby authorized and directed to file a certified copy of this Resolution (together with the aforesaid Lease) with the Secretary of the Corporation, with the request that they be brought to the attention of the Board of Directors of the Corporation at its next meeting, and same shall constitute the authorization and direction to the Corporation to take all action necessary and appropriate (1) to provide for the authorization and sale of $7,330,000 (not to exceed $7,330,000 and minus any such amount that is deemed to be in the interest of the Corporation) of the Refunding Bonds in accordance with the provisions of the Bond Resolution of the Corporation; (2) to provide that the proceeds of the sale of said Refunding Bonds be set apart and held separate from all other funds of the Corporation for the purpose of retiring the Prior Issue and cost of issuance of said Refunding Bonds; and (3) to accept and execute the proposed Contract, Lease, and Option. 7. That pursuant to the provisions of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended, (the "Code") the Board, by the adoption of this Resolution, hereby designates the Refunding Bonds as "qualified tax-exempt obligations" within the meaning of the Code and certifies that it does not reasonably anticipate that the total principal amount of qualified tax-exempt obligations which will be issued by the Board (or the Corporation acting on its behalf) during the calendar year ending December 31, 2016 will exceed $10,000, That this Resolution shall take effect from and after its passage and approval. 9. The Board of Education hereby agrees, in accordance with the provisions of Rule 15c2-12, as amended and interpreted from time to time (the "Rule"), promulgated by the Securities and Exchange Commission (the "Commission") pursuant to the Securities Exchange Act of 1934, to provide or cause to be provided to each Repository (as defined below), certain audited financial statements prepared in accordance with the comprehensive cash basis of accounting prescribed by the Commonwealth of Kentucky whereby certain revenues and the related assets are recognized when received rather than when earned, and certain expenses are recognized when paid rather than when a liability is incurred, and financial information and operating data (commencing with the fiscal year ended June 30, 2016) consistent with the information provided in Appendix A to the Official Statement pursuant to which the Refunding Bonds are being offered for sale. National Repository means the Municipal Securities Rulemaking Board ( Repository means National Repository and each State Repository. State Repository shall mean any public or private repository or entity designated by the Commonwealth of Kentucky as a state repository for the purpose of the Rule and recognized as such by the Commission. As of the date hereof, there is no State Repository. The Board of Education reserves the right to modify from time to time the specific types of information provided or the format of the presentation of such information, to the extent necessary or appropriate in the judgment of the Board of Education; provided that the Board of Education agrees that any such modification will be done in a manner consistent with the Rule. The annual information and operating data, including audited financial statements, will be made available on or before 180 days after the end of each fiscal year (June 30). The annual financial information and operating data will be made available, in addition to each Repository, to each holder or beneficial owner of Refunding Bonds who makes request for such information.

10 The Board of Education agrees to provide or cause to be provided, in a timely manner not in excess of ten business days after the occurrence of the event, to each Repository, notice of any of the following events with respect to the Refunding Bonds: [a] [b] [c] [d] [e] [f] [g] [h] [i] [j] [k] [l] Principal and interest payment delinquencies Non-payment related defaults, if material Unscheduled draws on debt service reserves reflecting financial Unscheduled draws on credit enhancements reflecting financial Substitution of credit or liquidity providers, or their failure to Adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701-TEB) or other material notices or determinations with respect to the tax status of the Notes, or other material events affecting the tax status of the Refunding Bonds Modifications to the rights of security holders, if material Bond calls, if material, and tender offers Defeasances Release, substitution or sale of property securing repayment of the Refunding Bonds, if material Rating changes Bankruptcy, insolvency, receivership or similar event of the obligated person NOTE: This event is considered to occur when any of the following occur: the appointment of a receiver, fiscal agent or similar officer for an obligated person in a proceeding under the U.S. Bankruptcy Code or in any other proceeding under state or federal law in which a court or governmental authority has assumed jurisdiction over substantially all of the assets or business of the obligated person, or if such jurisdiction has been assumed by leaving the existing governing body and officials or officers in possession but subject to the supervision and orders of a court or governmental authority, or the entry of an order confirming a plan of reorganization, arrangement or liquidation by a court or governmental authority having supervision or jurisdiction over substantially all of the assets or business of the obligated person. [m] [n] The consummation of a merger, consolidation, or acquisition involving an obligated person or the sale of all or substantially all of the assets of the obligated person, other than in the ordinary course of business, the entry into a definitive agreement to undertake such an action or the termination of a definitive agreement relating to any such actions, other than pursuant to its terms, if material Appointment of a successor or additional trustee or the change of name of a trustee, if material. The Board of Education may from time to time choose to provide notice of the occurrence of certain other events, in addition to those listed above, if such other event is material with respect to the Refunding Bonds, but the Board of Education does not undertake to commit to provide any such notice of the occurrence of any material event except those events listed above.

11 The Board has filed all of its financial reports as required by its Continuing Disclosure Undertaking Agreements, however the financial reports for fiscal years 2010 through 2013 and 2015 were filed with Repository after the required deadline. The Board hereby reaffirms the following procedures to assure on-going compliance with the Rule: (i) (ii) (iii) (iv) (v) the Board's Finance Officer shall be responsible for providing or causing to provide the information to be filed with Repository; the Board's Finance Officer will consult by October 1 of each year with the auditor for the Corporation and the Board to determine if the audited financial statements for the Issuer and the Board will be completed on or before December 1 of each year; within 15 business days of the receipt and completion of the Annual Report, the Board's Finance Officer shall file or caused to be filed the Annual Report with Repository; the Board's Finance Officer will create an internal tickler system to cause compliance with the reporting requirements of the Rule; and each year, the Board's Finance Officer will report to the Corporation and the Board that the reporting requirements of the Rule have been met or if unable to be met the reasons therefor and the information reported to Repository relating to the failure to meet the reporting requirements of the Rule. The Board of Education reserves the right to terminate its obligation to provide annual financial information and notices of material events, as set forth above, if and when the Board of Education no longer remains an obligated person with respect to the Refunding Bonds within the meaning of the Rule. The Board of Education agrees that its undertaking pursuant to the Rule is intended to be for the benefit of the holders or beneficial owners of the Refunding Bonds, and shall be enforceable by such holders or beneficial owners; provided that the right to enforce the provisions of this undertaking shall be limited to a right to obtain specific enforcement of the Board of Education's obligations hereunder and any failure by the Board of Education to comply with the provisions of this undertaking shall not be an event of default with respect to the Refunding Bonds under the Resolution. Upon a vote being taken upon a motion to adopt the above Resolution, the result was as follows: YearsFortheMotion NaysAgainsttheMotion Deborah Williams Michael Bishop Christine Dressler Frank H. Moore, Jr. Jane Wilson The Chairperson thereupon declared that said motion had carried and that said Resolution had been adopted.

12 ORDER # ADJOURNMENT Motion was made by Ms. Wilson to adjourn the meeting. CHAIRMAN SECRETARY October 17, 2016

13 CERTIFICATE I, Gary Fields, Secretary of the Board of Education of the Bowling Green Independent School District, do hereby certify (1) that the foregoing (with items hereto attached) constitutes a true, correct and complete excerpt from the transcript of the record of the proceedings of said Board of Education held on September 12, 2016, insofar as such proceedings relate to the matter of refinancing a portion of the Corporation s outstanding School Building Revenue Bonds, Series 2008, dated as of July 9, 2008, (2) that the copies of the instruments referred to in said proceedings, which are attached to these minutes, are true copies of said instruments as read and approved by said Board of Education at said meeting, and (3) that the foregoing minutes and foregoing instruments have all been duly recorded in the official minutes and records of this Board of Education. WITNESS my signature this 12 th day of September, SECRETARY, Board of Education