The Franklin Sun: Public Notices: Thursday, October 11th, 2007



Today is Saturday, May 18th, 2013	Subscribe Today!

Main Menu

• Home
• Links of Interest
• Photo Gallery
• Polls & Surveys
• Public Notices
• Read Our E-Edition
• Recommend Us
• RSS Feeds
• Search Our Site
• Site Statistics
• Story Archives
• Top 5 Most Popular
• Contact Us

Ads by Google

Current Poll

Are you keeping your New Year's resolutions?

View Results

Public Notices: Thursday, October 11th, 2007

Public & Legal Notices may be submitted to us at legals@franklinsun.com.

Public Notices Published Thursday, October 11th, 2007

Winnsboro, Louisiana
September 10, 2007
The Franklin Parish School Board met for its regular scheduled meeting on Monday, September 10, 2007 at 5:30 p.m. in the Franklin Parish School Board Complex.
Present for the meeting were Mr. Tim Eubanks, Mrs. Dorothy Brown, Mr. Eddie Ray Bryan, Mr. Ronnie Hatton, Mr. Jesse Young and Mr. Richard Kelly.
Absent from the meeting was Mrs. Louise Johnson.
President Eddie Ray Bryan called the meeting to order Chaplain Richard Kelly led in Prayer and President Bryan led in the Pledge of Allegiance.
MOTION TO APPROVE FINAL AGENDA
ORDINANCE # 2007-09-0003
BE IT ORDAINED, ETC. that the Franklin Parish School Board approve the final agenda as listed.
FRANKLIN PARISH SCHOOL BOARD COMPLEX BOARD ROOM
7293 PRAIRIE ROAD
WINNSBORO, LA 71295
AGENDA FOR
SEPTEMBER 10, 2007 at 5:30 P.M.
CALL TO ORDER: President
INVOCATION: Chaplain
PLEDGE OF ALLEGIANCE: President
I. Approval of Agenda
II. Approval of minutes from August 6 and 20, 2007 meetings.
III. Recognition of Visitors
Agricultural Extension Office Speaker
IV. Business
A. Pam McBroom, Head Start Report
B. Adopt resolution for the adjusted millage rate(s) for tax year 2007.
C. Adopt 2007-2008 General Fund Consolidated Budget. (Whitten)
D. Consider payment of monthly invoices. (Whitten)
E. Consider 2007-2008 NCLB/IDEA Combined Application. (Sharp)
F. Consider Professional Growth Award for Winnsboro Elementary.
G. Consider policy for verification of previous employment for teachers. (Whitten)
H. Consider payment for school choice bus driver.
V. Bids
A. Consider bid(s) for old driver education car.
B. Consider bid(s) for land lease on Section 21 at Turkey Creek.
VI. Superintendentís Report
VII. Presidentís Report
VIII. Approval of Personnel
A. Consider instructional and support personnel matters.
IX. Adjourn
MOTION: Mrs. Dorothy Brown SECOND: Mr. Jesse Young
YEAS: Mr. Tim Eubanks, Mrs. Dorothy Brown, Mr. Eddie Ray Bryan, Mr. Ronnie Hatton, Mr. Jesse Young and Mr. Richard Kelly
NAYS: None
ABSENT AND/OR NOT VOTING: Mrs. Louise Johnson
The motion was approved.
Dr. Lanny Johnson, Secretary-Treasurer Mr. Eddie Ray Bryan, President
Franklin Parish School Board Franklin Parish School Board
MOTION TO APPROVE MINUTES FROM AUGUST 6 AND 20, 2007 MEETINGS
ORDINANCE # 2007-09-0004
BE IT ORDAINED, ETC., that the Franklin Parish School Board approve the minutes from the August 6 and 20, 2007 meetings.
MOTION: Mr. Tim Eubanks SEC OND: Mrs. Dorothy Brown
YEAS: Mr. Tim Eubanks, Mrs. Dorothy Brown, Mr. Eddie Ray Bryan, Mr. Ronnie Hatton, Mr. Jesse Young and Mr. Richard Kelly
NAYS: None
ABSENT AND/OR NOT VOTING: Mrs. Louise Johnson
The motion was approved.
Dr. Lanny Johnson, Secretary-Treasurer Mr. Eddie Ray Bryan, President
Franklin Parish School Board Franklin Parish School Board
AGRICULTURE EXTENSION OFFICER SPEAKER
Ms. Kori Myers gave an update on the projects and activities of the Agriculture Extension Office. Ms. Myers informed the Board that this will be her last meeting in Franklin Parish. She will be transferring to another parish.
PAM MCBROOM, HEAD START REPORT
Mrs. Pam McBroom gave an update of the activities and projects of the Head Start Program. Mrs. McBroom gave each board member a financial report.
ADOPT RESOLUTION FOR THE ADJUSTEDMILLAGE RATE FOR TAX EYAR 2007
ORDINANCE # 2007-09-0005
BE IT ORDAINED, ETC., that the Franklin Parish School Board adopt resolution for the adjusted millage rate for tax year 2007.
RESOLUTION
BE IT RESOLVED, that the following millage is here by levied on the 2007 tax roll on all property subject to taxation by the FRANKLIN PARISH SCHOOL BOARD.
AID TO EDUCATION 4.45
CONSTITUTIONAL 4.41
MAINTENANCE & OPERATIONAL 15.00
TOTAL MILLAGE 23.86
BE IT FURTHER RESOLVED that this proper administrative officials of the Parish of FRANKLIN, State of LOUISIANA, be and they are hereby empowered, authorized, and directed to spread said taxes, as hereinabove set forth, upon the assessment roll of said Parish for the year 2007, and to make the collections of the taxes imposed for and on behalf of the taxing authority, according to law, and that the taxes herein levied shall become a permanent lien and privilege on all property subject to taxation as herein set forth, and collection thereof shall be enforceable in a manner provided by law.
The foregoing resolution was read in full, the roll was called on the adoption thereof, and the resolution was adopted by the following votes:
MOTION: Mrs. Dorothy Brown SECOND: Mr. Jesse Young
YEAS: Mr. Tim Eubanks, Mrs. Dorothy Brown, Mr. Eddie Ray Bryan, Mr. Ronnie Hatton, Mr. Jesse Young and Mr. Richard Kelly
NAYS: None
ABSENT AND/OR NOT VOTING: Mrs. Louise Johnson
The motion was approved.
Dr. Lanny Johnson, Secretary-Treasurer Mr. Eddie Ray Bryan, President
Franklin Parish School Board Franklin Parish School Board
ADOPT 2007-2008 GENERAL FUND CONSOLIDATED BUDGET
ORDINANCE # 2007-09-0006
BE IT ORDAINED, ETC., that the Franklin Parish School Board adopt the 2007-2008 General Fund Consolidated Budget as listed.
CONSOLIDATED BEGINNING BUDGET 07/08FRANKLIN PARISH SCHOOL BOARD BEGINNING BUDGET2007 - 2008†† †††GeneralLocalStateFederal Child FundFundsGrantsGrantsNutritionTOTALRevenues††††††Local Sources1,985,3512,261,40500130,0004,376,756State Sources (Other than MFP)379,3910310,588090,000779,979MFP(excluding School Lunch)17,067,693000017,067,693MFP (School Lunch)50,100000050,100Federal Sources52,190005,586,5491,300,0006,938,739Total Revenues19,534,7252,261,405310,5885,586,5491,520,00029,213,267 Other Sources of Funds462,00000084,500546,500 Total Revenue & Other Sources19,996,7252,261,405310,5885,586,5491,604,50029,759,767 Expenditures Instruction: Regular Programs - Elem & Sec9,842,7601,128,39883,7500011,054,908Special Education1,990,788251,8130531,31302,773,914Vocation Education221,26236,324079,2340336,820Other Instructional Programs456,22459,293101,383551,19301,168,093Special Programs039,871119,4552,155,88602,315,212Adult/Continuing Education000000Community College Programs000000Total Instruction12,511,0341,515,699304,5883,317,626017,648,947 Support Services Program: Pupil Support705,02271,6000280,38701,057,009Instructional Staff Services822,28777,8596,0001,174,66602,080,812General Administration561,600144,684014,1470720,431School Administration1,511,096142,3590001,653,455Business Services407,66535,661070,2980513,624Operations & Maintenance of Plant1,492,61488,358047,62101,628,593Student Transportation1,796,192112,2130230,59902,139,004Central Services29,528000029,528Total Support Services7,326,004672,7346,0001,817,71809,822,456 Operations of Non-Instructional Services: Food Service93,08779,997010,5001,604,5001,788,084Enterprise Operations00000Community Service Operations3,50000003,500Total Operation Of Non-Instruc Service96,58779,997010,5001,604,5001,791,584 Facility Acquisition & Construction 13,000000013,000Debt Service000000Total Expenditures19,946,6252,268,430310,5885,145,8441,604,50029,275,987 Other Uses of Funds50,10000440,7050490,805 0Total Expenditures & Other Uses of Funds19,996,7252,268,430310,5885,586,5491,604,50029,766,792 Excess (Deficiency) of Rev & Other Sources0000 Over Expenditures & Other Uses0-7,025000-7,025 Residual Equity Transfer In000000Residual Equity Transfer Out**000000Prior Year Adjustment Balances at Beginning of Year3,659,856490,84000498,1614,150,696Balances at End of Year3,659,856483,81500498,1614,143,671
Winnsboro, Louisiana
September 10, 2007
CONSOLIDATED BEGINNING BUDGET 07/08FRANKLIN PARISH SCHOOL BOARD BEGINNING BUDGET2007 - 2008†† †††Maint. Sales Tax1% SalesLocalTotalFundsCollectionsTaxGrantsRevenuesOfficeLocal Sources0114,0482,147,35902,261,405State Sources (Other than MFP)MFP(excluding School Lunch)MFP (School Lunch)Federal SourcesTotal Revenues0114,0462,147,35902,261,405Other Sources of Funds00000Total Revenue & Other Sources0114,0462,147,35902,261,405ExpendituresInstruction:Regular Programs - Elem & Sec1,128,39801,128,398Special Education251,813251,813Vocation Education36,32436,324Other Instructional Programs59,29359,293Special Programs39,87139,871Adult/Continuing EducationCommunity College ProgramsTotal Instruction1,515,69901,515,699Support Services Program:Pupil Support0071,600071,600Instructional Staff Services77,85977,859General Administration106,70537,9790144,684School Administration142,359142,359Business Services0 7,34128,320035,661Operations & Maintenance of Plant7,025081,333088,358Student Transportation00112,2130112,213Central ServicesTotal Support Services7,025114,046551,6630872,734Operations of Non-Instructional Services:Food Service79,99779,997Enterprise OperationsCommunity Service OperationsTotal Operation Of Non-Instruc Service79,99779,997Facility Acquisition & Construction Debt ServiceTotal Expenditures7,025114,0462,147,35902,268,430Other Uses of FundsTotal Expenditures & Other Uses of Funds7,025114,0462,147,35902,268,430Excess (Deficiency) of Rev & Other Sources Over Expenditures & Other Uses-7,025000-7,025Residual Equity Transfer InResidual Equity Transfer Out**Prior Year AdjustmentBalances at Beginning of Year26,19058,053383,0490467,292Balances at End of Year19,16558,053383,0490460,267
CONSOLIDATED BEGINNING BUDGET 07/08FRANKLIN PARISH SCHOOL BOARD BEGINNING BUDGET2007 ñ 2008†† †††8GOtherTotalGrantsStateRevenuesGrantsLocal Sources0State Sources (Other than MFP)173,228137,360310,588MFP(excluding School Lunch)MFP (School Lunch)Federal SourcesTotal Revenues173,228137,360310,588Other Sources of FundsTotal Revenue & Other Sources173,228137,360310,588ExpendituresInstruction:Regular Programs - Elem & Sec83,75083,750Special EducationVocation EducationOther Instructional Programs47,77353,610101,838Special Programs119,455119,455Adult/Continuing EducationCommunity College ProgramsTotal Instruction167,228137,360304,588Support Services Program:Pupil SupportInstructional Staff Services6,0006,000General AdministrationSchool AdministrationBusiness ServicesOperations & Maintenance of PlantStudent TransportationCentral ServicesTotal Support Services6,0006,000Operations of Non-Instructional Services:Food ServiceEnterprise OperationsCommunity Service OperationsTotal Operation Of Non-Instruc ServiceFacility Acquisition & Construction Debt ServiceTotal Expenditures173,228137,360310,588Other Uses of FundsTotal Expenditures & Other Uses of Funds173,228137,360310,588Excess (Deficiency) of Rev & Other Sources Over Expenditures & Other UsesResidual Equity Transfer InResidual Equity Transfer Out**Prior Year AdjustmentBalances at Beginning of YearBalances at End of Year
CONSOLIDATED BEGINNING BUDGET 07/08FRANKLIN PARISH SCHOOL BOARD BEGINNING BUDGET2007 - 2008†† †††HeadMath21stREAPReadingVocationalTechnologyStartScienceCenturyGrantFirstGrantGrantsRevenuesLocal SourcesState Sources (Other than MFP)MFP(excluding School Lunch)MFP (School Lunch)Federal Sources925,621149,524630,00045,594228,51379,234140,269Total Revenues925,621149,524630,00045,594228,51379,234140,269Other Sources of FundsTotal Revenue & Other Sources925,621149,524630,00045,594228,51379,234140,269ExpendituresInstruction:Regular Programs - Elem & SecSpecial EducationVocation Education79,234Other Instructional Programs373,00040,77860,82976,586Special Programs441,225Adult/Continuing EducationCommunity College ProgramsTotal Instruction441,225373,00040,77860,82979,23476,586Support Services Program:Pupil Support191,945Instructional Staff Services85,111138,44874,600159,95949,586General Administration7,147School AdministrationBusiness Services44,4487,500Operations & Maintenance of Plant38,796Student Transportation106,449111,900Central ServicesTotal Support Services473,896138,448194,0000159,959049,586Operations of Non-Instructional Services:Food Service10,500Enterprise OperationsCommunity Service OperationsTotal Operation Of Non-Instruc Service10,500Facility Acquisition & Construction Debt ServiceTotal Expenditures925,621138,448567,00040,778220,78879,234126,172Other Uses of Funds011,07663,0004,8167,725014,097Total Expenditures & Other Uses of Funds925,621149,524630,00045,594228,51379,234140,269Excess (Deficiency) of Rev & Other Sources Over Expenditures & Other UsesResidual Equity Transfer InResidual Equity Transfer Out**Prior Year AdjustmentBalances at Beginning of YearBalances at End of Year
CONSOLIDATED BEGINNING BUDGET 07/08FRANKLIN PARISH SCHOOL BOARD BEGINNING BUDGET2007 - 2008†† †††Title ITitle IITitle IVSchoolTitle VImp.RevenuesLocal SourcesState Sources (Other than MFP)MFP(excluding School Lunch)MFP (School Lunch)Federal Sources1,998,098396,86628,851257,9065,570Total Revenues1,998,098396,86628,851257,9065,570Other Sources of FundsTotal Revenue & Other Sources1,998,098396,86628,851257,9065,570ExpendituresInstruction:Regular Programs - Elem & SecSpecial EducationVocation EducationOther Instructional ProgramsSpecial Programs1,393,96373,40012,509231,4473,342Adult/Continuing EducationCommunity College ProgramsTotal Instruction1,393,96373,40012,509231,4473,342Support Services Program:Pupil Support88,442Instructional Staff Services269,502281,77215,7761,653General Administration5,000School AdministrationBusiness Services15,000750Operations & Maintenance of Plant7,800Student Transportation12,250Central ServicesTotal Support Services397,994282,52215,7761,653Operations of Non-Instructional Services:Food ServiceEnterprise OperationsCommunity Service OperationsTotal Operation Of Non-Instruc ServiceFacility Acquisition & Construction Debt ServiceTotal Expenditures1,791,957355,92228,285231,4474,995Other Uses of Funds206,14140,94456626,459575Total Expenditures & Other Uses of Funds1,998,098396,86628,851257,9065,570Excess (Deficiency) of Rev & Other Sources Over Expenditures & Other UsesResidual Equity Transfer InResidual Equity Transfer Out**Prior Year AdjustmentBalances at Beginning of YearBalances at End of Year
CONSOLIDATED BEGINNING BUDGET 07/08FRANKLIN PARISH SCHOOL BOARD BEGINNING BUDGET2007 - 2008†† †††IDEAE.C.PreschoolFAPERevenuesLocal SourcesState Sources (Other than MFP)MFP(excluding School Lunch)MFP (School Lunch)Federal Sources700,5035,586,549Total Revenues700,5035,586,549Other Sources of FundsTotal Revenue & Other Sources700,5035,586,549ExpendituresInstruction:Regular Programs - Elem & SecSpecial Education531,313531,313Vocation Education79,234Other Instructional Programs551,193Special Programs2,155,886Adult/Continuing EducationCommunity College ProgramsTotal Instruction531,3133,317,626Support Services Program:Pupil Support280,387Instructional Staff Services98,2591,174,666General Administration2,00014,147School AdministrationBusiness Services2,60070,298Operations & Maintenance of Plant1,02547,621Student Transportation230,599Central ServicesTotal Support Services103,8841,817,718Operations of Non-Instructional Services:Food Service10,500Enterprise OperationsCommunity Service OperationsTotal Operation Of Non-Instruc Service10,500Facility Acquisition & Construction Debt ServiceTotal Expenditures635,1975,145,844Other Uses of Funds65,306440,705Total Expenditures & Other Uses of Funds700,5035,586,549Excess (Deficiency) of Rev & Other Sources Over Expenditures & Other UsesResidual Equity Transfer InResidual Equity Transfer Out**Prior Year AdjustmentBalances at Beginning of YearBalances at End of Year
MOTION: Mrs. Dorothy Brown SECOND: Mr. Jesse Young
YEAS: Mr. Tim Eubanks, Mrs. Dorothy Brown, Mr. Eddie Ray Bryan, Mr. Ronnie Hatton, Mr. Jesse Young, and Mr. Richard Kelly
NAYS: None
ABSENT AND/OR NOT VOTING: Mrs. Louise Johnson
The motion was approved.
Dr. Lanny Johnson, Secretary-Treasurer Mr. Eddie Ray Bryan, President
Franklin Parish School Board Franklin Parish School Board
MOTION TO CONSIDER PAYMENT OF MONTHLY INVOICES
ORDINANCE # 2007-09-0007
BE IT ORDAINED, ETC., that the Franklin Parish School Board approve the payment of monthly invoices.
MOTION: Mr. Tim Eubanks SECOND: Mr. Jesse Young
YEAS: Mr. Tim Eubanks, Mrs. Dorothy Brown, Mr. Eddie Ray Bryan, Mr. Ronnie Hatton, Mr. Jesse Young and Mr. Richard Kelly
NAYS: None
ABSENT AND/OR NOT VOTING: Mrs. Louise Johnson
The motion was approved.
Dr. Lanny Johnson, Secretary-Treasurer Mr. Eddie Ray Bryan, President
Franklin Parish School Board Franklin Parish School Board
MOTION TO APPROVE 2007-2008 NCLB/IDEA COMBINED APPLICATION
ORDINANCE # 2007-09-0008
BE IT ORDAINED, ETC., that the Franklin Parish School Board approve the 2007-2008 NCLB/IDEA Combined application.
MOTION: Mrs. Dorothy Brown SECOND: Mr. Jesse Young
YEAS: Mr. Tim Eubanks, Mrs. Dorothy Brown, Mr. Eddie Ray Bryan, Mr. Ronnie Hatton, Mr. Jesse Young and Mr. Richard Kelly
NAYS: None
ABSENT AND/OR NOT VOTING: Mrs. Louise Johnson
The motion was approved.
Dr. Lanny Johnson, Secretary-Treasurer Mr. Eddie Ray Bryan, President
Franklin Parish School Board Franklin Parish School Board
MOTION TO APPROVE PROFESSIONAL GROWHT PLAN AWARD FOR WES
ORDINANCE # 2007-09-0009
BE IT ORDAINED, ETC., that the Franklin Parish School Board approve Franklin Parish School Board
Contract for Professional Growth Award (PGA)
The following agreement is entered into the Franklin Parish School Board, hereinafter referred to as ìthe Board,î and an employee of the Franklin Parish School Board, hereinafter referred to as ìEmployee,î to render professional services at Winnsboro Elementary School 1310 Warren Street, Winnsboro, La.71295, for the position of certified teacher.
Length of Contract:
The contract is for the period of August 15, 2007 through May 22, 2008.
Eligibility Requirements:
In order to qualify under this agreement, the Employee must be employed solely at Winnsboro Elementary School as a certified/highly qualified teacher for the 2007-2008 school year. Employees hired after the beginning date of the 2007-2008 school year may receive a partial Professional Growth Award, prorated with regard to the amount of participation in professional activities. Teachers on sabbatical are not eligible to receive the Professional Growth Award due to the fact that they will not be available for classroom observations that are a vital part of the professional development process. Teachers leaving Winnsboro Elementary School for personal or professional reasons before the completion of a year will not be eligible for the Professional Growth Award.
Employee Duties:
In addition to the duties of teacher for the Franklin Parish School Board outlined in the Job Description for the position held, the Employee must:
Attend school regularly. Ten absences will be allowed for the year to prevent deduction from the additional $3500.00. After ten absences teachers will be docked $ 50.00 per day and $25.00 per one-half day from the $3500.00. After fifteen absences teachers will be docked $100.00 per day and $50.00 per one-half day. Any absence less than one-half day will be considered as one-half day in determining amount of the Professional Growth Award.
Increase student achievement as indicated on 2007-2008 DIBELS for K-2 students and a comparison of 2007 and 2008 LEAP and iLEAP percent scoring proficient or above for students in grades 3, 4, and 5. Failure to attain an increase in student achievement as indicated above will result in a deduction of $500.00 from the PGA providing other requirements are met.
4. Update and maintain Teacher Web page on WES website weekly to improve
parent/teacher communication. Copies of portfolio entries / web updates will be
documented in teacher portfolio and submitted to principal each six weeks.
5. Record studentsí attendance and assessment data in JGradebook weekly allowing
computer generated mid-six weekís progress reports and six week report cards.
Student transcripts in teacher portfolios will document use of JGradeBook.
6. Attend job embedded professional development and utilize United Streaming,
BrainPop, EdHelper, and other educational websites in daily lessons. Copies of
lesson plans and Informal/Formal observations in Teacher Portfolio will
document compliance.
7. Teachers will attend LINCS/Reading First schoolwide meetings bi-monthly and
grade level team meetings bi-weekly. Teachers will be prepared and present to
their groups on assigned dates. Presentations/PowerPoints/LINCS Logs will
document compliance.
Compensation
The Employee will be paid Three Thousand, Five Hundred and no/100 ($3500.00) Dollars (before deductions) for the 2007-2008 school year in addition to his/her base salary as a teacher at Winnsboro Elementary School during this contract. This sum will be paid in one payment of $3500.00 by June 15, 2008. Monies will be provided through Federal Funds.
All other benefits available to teachers with the Franklin Parish School System will be paid and accrued to the Employee, including seniority.
Termination of Agreement:
This agreement will terminate upon the following occurrences:
This agreement will terminate if the supplemental salary funding is eliminated or if the program is ended due to lack of sufficient participation.
Employee shall be removed from this position for any of the following reasons.
Any cause sufficient to warrant demotion, suspension and/or termination under tenure laws for the state of Louisiana.
An evaluation of ìNeeds Improvementî requiring intensive assistance
Intensive assistance cannot be preformed at Winnsboro Elementary School and the Employee must be transferred to another school to perform it
Failure to participate in the required extended day schedule
Any other cause sufficient to warrant transfer out of the school, but not
for demotion or termination under (1) above, as determined by the
principal.
Procedure for removal under paragraph (2) above:
The policies and procedures of the Franklin Parish School Board and the laws of the state of Louisiana will be followed for removal for any cause sufficient to warrant a demotion, suspension and/or termination of employment under the tenure laws for the State of Louisiana.
The parties acknowledge that ìdemotionî under the teacher tenure does not apply to a transfer to another position as a teacher in the system resulting in the loss of supplemental payments granted under this contract.
The standard policies and procedures for the imposition of an intensive assistance program will be followed upon an evaluation of the Employee stating that the Employee ìNeeds Improvementî;
For any reason, a special personnel conference will be conducted by the principal stating the reasons for the desired transfer from the school. The Employee will be given the opportunity to respond to the complaint(s). The Principal will them state the recommended action to be taken.
MOTION: Mrs. Dorothy Brown SECOND: Mr. Richard Kelly
YEAS: Mr. Tim Eubanks, Mrs. Dorothy Brown, Mr. Eddie Ray Bryan, Mr. Ronnie Hatton, Mr. Jesse Young and Mr. Richard Kelly
NAYS: None
ABSENT AND/OR NOT VOTING: Mrs. Louise Johnson
The motion was approved.
Dr. Lanny Johnson, Secretary-Treasurer Mr. Eddie Ray Bryan, President
Franklin Parish School Board Franklin Parish School Board
MOTION TO CONSIDER POLICY FOR VERIFICATION OF PREVIOUS EMPLOYMENT FOR TEACHERS
ORDINANCE # 2007-09-0010
BE IT ORDAINED, ETC., that the Franklin Parish School Board approve the policy for verification of previous employment for teachers.
Policy for Verification of Previous Employment for Certified Teachers
Upon employment with Franklin Parish School Board, certified teachers are given Verification of Experience forms for prior experience. It is the responsibility of the teacher to send these forms to previous employers. These forms must be turned in to Franklin Parish School Board within four weeks of employment date in order to receive credit for years of experience. Prior experience is to be calculated by the year. If less than a year of service is verified, it must be at least 51% of that year in order to receive credit for the year. Several partial years can not be added together to receive a full year of service credit. If all of the years are not verified with the appropriate time, for the current year, once the verifications are received, the years of service will be added to the salary for the next year.
MOTION: Mr. Tim Eubanks SECOND: Mrs. Dorothy Brown
YEAS: Mr. Tim Eubanks, Mrs. Dorothy Brown, Mr. Eddie Ray Bryan, Mr. Ronnie Hatton, Mr. Jesse Young and Mr. Richard Kelly
NAYS: None
ABSENT AND/OR NOT VOTING: Mrs. Louise Johnson
The motion was approved.
Dr. Lanny Johnson, Secretary-Treasurer Mr. Eddie Ray Bryan, President
Franklin Parish School Board Franklin Parish School Board
MOTION TO CONSIDER PAYMENT FOR SCHOOL CHOICE BUS DRIVER
ORDINANCE # 2007-09-0011
BE IT ORDAINED, ETC., that the Franklin Parish School Board approve the payment for school choice bus driver as listed.
Contract bus driverís fee for school choice transportation will be increased to $2.50 per mile plus fuel adjustment. Mileage will be determined from the parish mileage map. The increase is to be effective September 4, 2007.
MOTION: Mr. Richard Kelly SECOND: Mr. Jesse Young
YEAS: Mr. Tim Eubanks, Mrs. Dorothy Brown, Mr. Eddie Ray Bryan, Mr. Ronnie Hatton, Mr. Jesse Young and Mr. Richard Kelly
NAYS: None
ABSENT AND/OR NOT VOTING: Mrs. Louise Johnson
The motion was approved.
Dr. Lanny Johnson, Secretary-Treasurer Mr. Eddie Ray Bryan, President
Franklin Parish School Board Franklin Parish School Board
MOTION TO CONSIDER BID FOR OLD DRIVER EDUCATION CAR
ORDINANCE # 2007-09-0012
BE IT ORDAINED, ETC., that the Franklin Parish School Board approve the bid of $300.00 for the old driver education car. Bid was submitted for Barbara Sipley by Penny Lee.
MOTION: Mr. Jesse Young SECOND: Mr. Ronnie Hatton
YEAS: Mr. Tim Eubanks, Mrs. Dorothy Brown, Mr. Eddie Ray Bryan, Mr. Ronnie Hatton, Mr. Jesse Young and Mr. Richard Kelly
NAYS: None
ABSENT AND/OR NOT VOTING: Mrs. Louise Johnson
The motion was approved.
Dr. Lanny Johnson, Secretary-Treasurer Mr. Eddie Ray Bryan, President
Franklin Parish School Board Franklin Parish School Board
MOTION TO CONSIDER BID FOR LAND LEASE ON SECTION 21 AT TURKEY CREEK
ORDINANCE # 2007-09-0013
BE IT ORDAINED, ETC., that the Franklin Parish School Board approve the bid from Rusty Roberts at a cost of $27.00 per acre for a total cost of $1,161.00. This lease is for one year.
MOTION: Mr. Jesse Young SECOND: Mr. Tim Eubanks
YEAS: Mr. Tim Eubanks, Mrs. Dorothy Brown, Mr. Eddie Ray Bryan, Mr. Ronnie Hatton, Mr. Jesse Young and Mr. Richard Kelly
NAYS: None
ABSENT AND/OR NOT VOTING: Mrs. Louise Johnson The motion was approved.
Dr. Lanny Johnson, Secretary-Treasurer Mr. Eddie Ray Bryan, President
Franklin Parish School Board Franklin Parish School Board
SUPERINTENDENTíS REPORT
Dr. Lanny Johnson announced that the has asked the architects to come and meet with the Board Members on Monday, September 17, 2007 at 5:00 p.m. to present the preliminary plans for Franklin Parish High School.
PRESIDENTíS REPORT
President Bryan addressed several issues. The first item was a problem with school janitorial supplies, next was that the Board and people went out to public for support on the tax and that we need to support the business of Franklin Parish. Another item brought up was using items on state contract.
MOTION TO CONSIDER INSTRUCTIONAL AND SUPPORT PERSONNEL MATTERS
ORDINANCE # 2007-09-0014
BE IT ORDAINED, ETC., that the Franklin Parish School Board approve the instructional and support personnel matters as listed.
INSTRUCTIONAL PERSONNEL
NEW HIRES
NameSchoolPositionEffect. DateReasonDean, EvelynWESReg. ed.08.15.07Douglas, TanyaHGW LCBehav. Interventionist08.31.07Edwards, GladysWESPE Tea.08.15.07Haring, Sara T.WESSpeech Therapist08.29.07Harrington, EasterCrowvilleReg. ed.08.20.07Hays, Peggy HFortReg. ed.08.15.07Honeywood, TamekaCrowvilleKind. 08.15.07Johnson, JudyWESCounselor08.07.0711 monthsJohnson, MelissaHGWLCGED tea08.15.07Lewis, AvaWESReg. ed.08.15.07Lyons, EarlineBaskinReg. ed.09.04.07Moore, FlorenceWESTitle I Pre-K08.28.07Replace K. HendersonMoore, MaryFortReg. ed.08.15.07Swayzer, DorothyGilbertReg. ed08.20.07Wollerson, RanaFPHSSpanish 08.15.07Contracted servicesWomack, SarahCrowvilleReg. ed.08.17.07Sheffield, Megan LFPHSBand09.04.07Contracted servicesRESIGNATIONS
NameSchoolPositionEffect. DateReasonAlderman, DonnaWESSp. ed. tea08.14.07RelocationCanada, BarbaraFortSp. ed. tea08.14.07RelocationCrum, RickyFort08.14.07RetirementGonzalez, KathyFPHSTeacher08.14.07RelocationHarrell, SharonFortTeacher08.14.07RelocationJynes, LindaGilbertTeacher08.14.07No ShowNorris, PamWESTeacher08.14.07RelocationParr, DebbieFort Nec.Teacher08.14.07RelocationPorter, SueGilbertSp. ed. tea08.14.07RelocationPotter, JaniceGilbertTeacher08.14.07RelocationWiley, GingerWESTeacher08.14.07RelocationWilliams, RobertWESTeacher08.14.07RelocationTRANSFER
NameSchool PositionEffect. DateFowler, JuanitaFPHS10 mon. counselor to 11 mon. counselor07.31.07Henderson, KimWES to Fort Nec.Title I Pre-K08.21.07Moore, FlorenceWES to WESTitle I Pre-K to G.F. Kindergarten09.04.07Pace, TerriFort Nec.Title I Prek-K to Lib./Comp. Lab08.15.07Prescott, AliceBaskin to WESTeacher to Adm. Assistant08.13.07Roberts, AliciaWESRead 1st to Reg. Ed.08.13.07Whittington, ToneshaGilbertReg. ed to Sp. Ed.08.15.07`Wilson, DorothyWES to WESG.F. Kindergarten to Title I Pre-K09.04.07Wright, CarolynCentral OfficeTitle I to Gen. fund07.30.07
TERMINATION
NameSchool PositionEffect. DateReasonPowell, PatriciaHGWLCTeacher08.14.07Non certifiedStraughter, PatrickFPHSTeacher/coach08.27.07Willful neglectLEAVE WITHOUT PAY
NameSchoolPositionEffect. DateReasonHaring, SaraWESSp. Therapist11/14-16/07 (3 days)SUPPORT PERSONNEL
NEW HIRES
NameSchoolPositionEffect. DateReasonMoore, ThomasGilbertBus driver ñ Rt. 74Replace R. SmartPeters, CrystalHead StartTeacher Assistant09.11.07Pickron, SharlettaHead StartTeacher Assistant09.11.07Robinson, BerniceHead StartReceptionist09.11.07Replace C. TownsendRose, HenryWESBus driver ñ Rt. 12Replace J. EatonSmith, GregBaskinBus driver ñ Rt. 13Replace A. HoardTRANSFER
NameSchool PositionEffect. DateSmith, GeronicaCrowville to WESSp. ed. IDEA para09.11.07RESIGNATIONS
NameSchoolPositionEffect. DateReasonColeman, ShemekaBaskinPara08.14.07RelocationGipson, SteveGilbertAsst. janitor09.05.07PersonalGuillot, LonelGilbertBus driver08.23.07RelocationHoard, AlonzoBaskinBus driver08.16.07RetirementJackson, KimBaskinSch. clerk08.14.07RelocationJohnson, BettyWESPara10.01.07RetirementKunzler, JuliaCrowvillePara08.16.07RelocationSUBSTITUTES
NameSchoolPositionEffect. DateBd mtg dateAdams, ToshaFPHSD-D sub08.15.0709.10.07Beam, JustinBaskinD-D sub08.15.0709.10.07Bougeious, AmyBaskinSub. para08.15.0709.10.07Bradley, DonyaBaskinD-D sub08.15.0709.10.07Cameron, AntoinetteWESD-D sub08.15.0709.10.07Coleman, ShemekaBaskinD-D sub08.15.0709.10.07Denny, DanielleWESD-D sp. ed para08.20.0709.10.07Douglas, FelishaWESD-D sub08.15.0709.10.07Doyle, JackieGilbertD-D sub08.15.0709.10.07Jackson, GwenFortD-D sub08.15.0709.10.07Jeselink, ChristalWESD-D sub 08.15.0709.10.07Johnson, Mary LeeWESD-D sub08.15.0709.10.07Kennedy, LizzieGilbertD-D sub08.15.0709.10.07Lee, LulaFortD-D sub08.15.0709.10.07Marzell, ShedrickBaskinD-D sub08.15.0709.10.07McDowell, Sharrick S.WESD-D sub08.15.0709.10.07Oliver, EdithWESD-D sub08.15.0709.10.07Peoples, JessicaGilbertD-D sub08.15.0709.10.07Powell, LindaWESD-D sub08.15.0709.10.07Powell, PatriciaGilbertD-D sub08.15.0709.10.07Robinson, MelissaHGWLCD-D sub08.15.0709.10.07Russell, OpheliaGilbertD-D sub08.15.0709.10.07Scott, AnathanFortD-D sub08.15.0709.10.07Thomas, AmeldaWESD-D sub08.15.0709.10.07Reg. substitutesArchibald, JeanCrow., FPHSSub. tea08.20.0709.10.07Armstrong, TammaFPHSSub. tea08.20.0709.10.07Barton, DedraGilbertSub. tea08.20.0709.10.07Branson, RutranaParish-wideSub. tea08.20.0709.10.07Burns, JamarWíboro SchoolsSub. tea08.20.0709.10.07Butler, JacquelynParish-wideSub. tea08.20.0709.10.07Carson, HeatherParish-wideSub. tea08.20.0709.10.07Chaudoin, JenniferGilbertSub. tea08.20.0709.10.07Clay, RonnieHGWLCSub. tea08.20.0709.10.07Cockerham, AprilBaskin, Crow., FPHSSub. tea08.20.0709.10.07Winnsboro, Louisiana
September 10, 2007
Cooper, GladysHGWLC, Crow., WESSub. tea08.20.0709.10.07Crain, HeatherBaskin, Crow.Sub. tea08.20.0709.10.07Davis, EnuchParish-wideSub. tea08.20.0709.10.07Davis, LacyFort, GilbertSub. tea08.20.0709.10.07Davis, RosemaryBaskin, Crow., WES, HGWLCSub. tea08.20.0709.10.07Denny, DanielleParish-wideSub. tea08.20.0709.10.07Doyle, RachelGilbert, WES, FPHSSub. tea08.20.0709.10.07Dunaway, KathleenGilbertSub. tea08.20.0709.10.07Evans, AmandaParish-wideSub. tea08.20.0709.10.07Ferrington, Natalie Crow., WESSub. tea09.10.0709.10.07Ferrington, TawiaGilbertSub. tea08.20.0709.10.07Gill, RhondaBaskin, CrowSub. tea08.20.0709.10.07Harrod, Mary BCrow., WESSub. tea08.20.0709.10.07Holloway, KarenGilbertSub. tea08.20.0709.10.07Howard, ChristinaBaskin, Crow., WESSub. tea08.20.0709.10.07Ingram, AmandaParish-wideSub. tea09.10.0709.10.07Jackson, ChristinaBaskin, Crow., WESSub. tea08.20.0709.10.07Killingsworth, GaryParish-wideSub. tea08.20.0709.10.07Kincaid, JoyceGilbert, FortSub. tea08.20.0709.10.07Kinder, CliffordParish-wideSub. tea08.20.0709.10.07Kunzler, JuliaCrow., LINCSSub. tea08.20.0709.10.07Lindsey, J. ReneeCrowville, FPHSSub. tea08.20.0709.10.07Lindsey, J. ReneeCrow., FPHSSub. tea08.20.0709.10.07Lowe, TammyBaskin, Crow., WES, FPHSSub. tea08.20.0709.10.07Matthews, KatherineWES. HGWLCSub. tea08.20.0709.10.07McCall, ChassitieFort, Gilbert, WESSub. tea08.20.0709.10.07McCottrey, BerthaParish-wideSub. tea08.20.0709.10.07McGhee, CarrieBaskin, Fort, WES, HWLC, FPHSSub. tea08.20.0709.10.07McMurray, SandraFortSub. tea08.20.0709.10.07Mejias, TheresaCrow., WES, FPHSSub. tea09.10.0709.10.07Mock, NonaBaskinSub. tea08.20.0709.10.07Moore, ThomasParish-wideSub. tea08.20.0709.10.07Punchard, AmandaHead Start, Crow.Sub. tea08.20.0709.10.07Thomas, WillieFPHSSub. tea08.20.0709.10.07Thompson, RustyParish-wideSub. tea08.20.0709.10.07Wallace, AlainaCrow., Gilbert. WESSub. tea08.20.0709.10.07White, NikishHead Start, Crow.Sub. tea/para09.10.0709.10.07White, PaulaParish-wideSub. tea08.20.0709.10.07Williams, FayParish-wideSub. tea08.20.0709.10.07Williams, YolandaHead StartSub. tea08.20.0709.10.07Woods, OneidaBaskin, Crow., Head StartSub. tea08.20.0709.10.07Young, JesseGilb., Crow., FPHS(volunteer only)08.20.0709.10.07Young, LeslieFPHS(volunteer only)08.20.0709.10.07Sub. bus drivers
NameSchoolPositionEffect. DateBd mtg dateStephens, SonnyParish-wideSub. bus driver08.20.0709.10.07Thibodeaux, DebbieParish-wideSub. bus driver08.20.0709.10.07Albritton, DenaParish-wideSub. bus driver08.20.0709.10.07Biggs, JimmyParish-wideSub. bus driver08.20.0709.10.07Bracy, RobertParish-wideSub. bus driver08.20.0709.10.07Douglas, WilliamParish-wideSub. bus driver08.20.0709.10.07Hessler, RobertParish-wideSub. bus driver08.20.0709.10.07Jenkins, AngelaParish-wideSub. bus driver08.20.0709.10.07Johnson, WilmaParish-wideSub. bus driver08.20.0709.10.07Lively, RonaldParish-wideSub. bus driver08.20.0709.10.07Sub. cafeteria
NameSchoolPositionEffect. DateBd mtg dateDumore, BlancaWESSub. caft.08.20.0709.10.07Sandoval, M.HerlindaCrow., WESESub. caft08.20.0709.10.07Savage, ChristaGilbertSub. tea08.20.0709.10.07Searcy, MaryBaskinSub. caft.08.20.0709.10.07Shaw, PrisicillaBaskin, Crow., FPHSSub. caft.08.20.0709.10.07Thomas, VelmaBaskin, WES, FPHSSub. caft.08.20.0709.10.07
Winnsboro, Louisiana
September 10, 2007
Sub. janitors
NameSchoolPositionEffect. DateBd mtg dateLynch, PaulineFPHSSub. janitor08.20.0709.10.07Spears, WilliamBaskinSub. janitor08.24.0709.10.07PERMISSION TO ADVERTISE: Bus Driver for Route 45, Wisner (Joyce Roberts), Bus Driver for Route 70, Gilbert (Buddy Guillot), Secretary/clerk at Baskin School
MOTION: Mr. Richard Kelly SECOND: Mrs. Dorothy Brown
YEAS: Mr. Tim Eubanks, Mrs. Dorothy Brown, Mr. Eddie Ray Bryan, Mr. Ronnie Hatton, Mr. Jesse Young and Mr. Richard Kelly
NAYS: None
ABSENT AND/OR NOT VOTING: Mrs. Louise Johnson
The motion was approved.
Dr. Lanny Johnson, Secretary-Treasurer Mr. Eddie Ray Bryan, President
Franklin Parish School Board Franklin Parish School Board
MOTION TO ADJOURN
ORDINANCE # 2007-09-0015
BE IT ORDAINED, ETC., that the there being no further business to discuss the meeting is adjourned.
MOTION: Mr. Jesse Young SECOND: Mr. Ronnie Hatton
YEAS: Mr. Tim Eubanks, Mrs. Dorothy Brown, Mr. Eddie Ray Bryan, Mr. Ronnie Hatton, Mr. Jesse Young and Mr. Richard Kelly
NAYS: None
ABSENT AND/OR NOT VOTING: Mrs. Louise Johnson
The motion was approved.
Dr. Lanny Johnson, Secretary-Treasurer Mr. Eddie Ray Bryan, President
Franklin Parish School Board Franklin Parish School Board

The following resolution was offered by Mr. Jesse Young and seconded by Mrs. Dorothy Brown:¬
RESOLUTION

A resolution providing for the incurring of debt and issuance of One Million Five Hundred Thousand Dollars ($1,500,000) of Limited Tax Certificates of Indebtedness, Series 2007B, of Franklin Parish School District of the Parish of Franklin, State of Louisi¬ana; prescrib¬ing the form, terms and condi¬tions thereof and provid¬ing for the pay¬ment thereof; awarding such Certifi¬cates to the pur¬chasers thereof; and providing for other mat¬ters in connection therewith.
WHEREAS, pursuant to the proposition approved by the voters of Franklin Parish School District of the Parish of Franklin, State of Louisiana (the "Issuer"), at an election held on May 5, 2007, the Issuer was authorized to levy a special tax of 15 mills (such rate being subject to adjustment from time to time due to reassess¬ment) through the year 2016, for the purpose of renovating, improving, operating, repairing and/or supporting schools and school related facilities, equipment and programs as set out in a proposition approved by the voters on May 5, 2007, and paying the costs of issuance of the Certificates (the "Tax"); and
WHEREAS, pursuant to and in accordance with Section 1430 of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority, the Issuer now desires to incur debt and issue its Limited Tax Certificates of ¬Indebted¬ness, Series 2007B, in the principal amount of One Million Five Hundred Thousand Dollars ($1,500,000) (the "Series 2007B Certifi¬cates") for the purpose of renovating, improving, repairing and supporting schools and school related facilities and equipment for the Issuer as authorized by the voters at an election held on May 5, 2007, and paying the costs of issuance thereof; and
WHEREAS, other than the Series 2007B Certificates herein authorized and the Series 2007A Certificates (hereinafter defined), the Issuer will have no outstanding obligations as of the date of delivery of the Certificates of any kind or nature payable from or enjoying a lien on the Tax herein pledged; and
WHEREAS, the Series 2007B Certificates shall be issued on a complete parity with the Series 2007A Certificates; and
WHEREAS, the maturities of the Series 2007B Certificates and the Series 2007A Certificates have been arranged so that the combined principal and interest requirements for any calendar year on said Certificates does not exceed 75% of the revenues estimated to be received by the Issuer from the Tax in the year 2007 (which is hereby estimated to be at least $809,000); and
WHEREAS, it is the desire of the Issuer to fix the details necessary with respect to the issuance of the Series 2007B Certificates and to provide for the authorization and issuance thereof; and
WHEREAS, it is the further desire of the Issuer to provide for the sale of the Series 2007B Certificates to the Purchaser (hereinafter defined) at the price and in the manner hereinaf¬ter provid¬ed;
NOW, THEREFORE, BE IT RESOLVED by the Parish School Board of the Parish of Franklin, State of Louisiana, acting as the governing authority of Franklin Parish School District of the Parish of Franklin, State of Louisiana, that:

SECTION l Definitions. As used herein, the following terms shall have the following meanings, unless the context otherwise requires:
"Act" means Section1430 of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority.
"Agreement" means the agreement to be entered into between the Issuer and the Paying Agent pursuant to this Resolution.
"Certificate" means any certificate of indebtedness of the Issuer authorized to be issued by this Resolution, whether initially delivered or issued in exchange for, upon transfer of, or in lieu of any certificate previously issued.
"Certificates" or (Series 2007B Certificates( means the Issuer's Limited Tax Certificates of Indebtedness, Series 2007B, autho¬rized by this Resolution, in the total aggregate principal amount of One Million Five Hundred Thousand ¬Dollars ($1,500,000).
"Certificate Register" means the records kept by the Paying Agent at its principal corporate office in which registra¬tion of the Certificates and transfers of the Certifi¬cates shall be made as provided herein.
"Code" means the Internal Revenue Code of 1986, as amended.
"Executive Officers" means ¬the President and the Secretary of the Governing Authority.
"Fiscal Year" means the one-year accounting period beginning July 1 of each year, or such other accounting period as may be designated by the Governing Authority as the fiscal year of the Issuer.
"Governing Authority" means the Parish School Board of the Parish of Franklin, State of Louisiana.
"Government Securities" means direct obligations of, or obliga¬tions the principal of and interest on which are uncondi¬tion¬ally guaranteed by the United States of America, which are non callable prior to their maturity, may be United States Treasury obligations such as the State and Local Government Series and may be in book entry form.
"Interest Payment Dates" means April 19 and October 19 of each year, commencing April 19, 2008.
"Issuer" means Franklin Parish School District of the Parish of Franklin, State of Louisiana.
"Outstanding" when used with respect to the Certificates means, as of the date of determination, any Certificate thereto¬fore issued and delivered under this Resolution, except:
1. Any Certificate theretofore canceled by the Paying Agent or delivered to the Paying Agent for cancella¬tion;
2. Certificates for which payment or redemption suffi¬cient funds or government securities, or both, have been theretofore deposited in trust for the owners of such Certificates with the effect specified in this Resolution or by law;
3. Any Certificate in exchange for or in lieu of which another Certificate has been registered and deliv¬ered pursuant to this Resolution; and
4. Any Certificate alleged to have been mutilated, de¬stroy¬ed, lost or stolen which may have been paid as provided in this Resolution or by law.
"Outstanding Parity Certificate Resolution" means the resolution adopted by the Governing Authority on October 1, 2007, authorizing the issuance of the Series 2007A Certificates.
"Outstanding Parity Certificates" or (Series 2007A Certificates( means as of the date of delivery of the Certificates, the Issuer's $3,939,100 of Limited Tax Certificates of Indebtedness (Taxable QZAB), Series 2007A, maturing serially on October 19, 2008 through October 19, 2017, inclusive.
"Owner" when used with respect to any Certificate means the Person in whose name such Certificate is registered in the Certificate Register.
"Paying Agent" means Regions Bank, in Baton Rouge, Louisiana, until a successor Paying Agent shall have been ap¬pointed pursuant to the applicable provisions of this Resolution and thereafter "Paying Agent" shall mean such successor Paying Agent.
"Person" means any individual, corporation, partner¬ship, joint venture, association, joint stock company, trust, unincorpo¬rated organization or government or any agency or political subdivision thereof.
"Purchaser" means Regions Bank, in Monroe, Louisiana, ¬the original purchaser of the Certificates, and its successors, assigns and transferees.
"Resolution" means this resolution authorizing the issuance of the Certificates, as it may be supplemented and amended.
"Tax" means the special ad valorem tax of 15 mills (such rate being subject to adjustment from time to time due to reassess¬ment) for the purpose of renovating, improving, operating, repairing and/or supporting schools and school related facilities, equipment and programs as set out in a proposition approved by the voters on May 5, 2007, and paying the costs of issuance of the Certificates, to be levied and collected annually through the year 2016.
SECTION 2. Authorization of Certificates; Maturities. Subject to the approval of the State Bond Commission and in compliance with the terms and provisions of the Act and other constitu¬tional and statutory authority, there is hereby authorized the incurring of an indebted¬ness of One Million Five Hundred Thousand Dollars ($1,500,000) for, on behalf of, and in the name of the Issuer, for the purpose of renovating, improving, repairing and supporting schools and school related facilities and equipment for the Issuer as authorized by the voters at an election held on May 5, 2007, and paying the costs of issuance thereof, and to represent said indebted¬ness this Govern¬ing Authority does hereby authorize the issuance of its Limited Tax Certificates of Indebtedness, Series 2007B, in the principal amount of One Million Five Hundred Thousand Dollars ($1,500,000). The Certificates shall be in fully registered form, shall be dated the date of delivery thereof, shall be issued in denomina¬tions corresponding to the principal amount of each maturity (one Certificate per maturity), and shall be numbered from R-1 upward. The Certifi¬cates 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 April 19, 2008, at the following rates of interest per annum and shall become due and payable and mature serially on October 19 of the years and in the amounts, as follows:
Certificate Year Principal Interest Rate
Number (October 19) Amount Per Annum

R-1 2008 $117,000 4.05%
R-2 2009 123,000 4.05
R-3 2010 130,000 4.05
R-4 2011 137,000 4.05
R-5 2012 145,000 4.05
R-6 2013 152,000 4.05
R-7 2014 161,000 4.05
R-8 2015 169,000 4.05
R-9 2016 178,000 4.05
R-10 2017 188,000 4.05
The principal of the Certificates upon maturity or redemption, subject to Section 3 below, shall be payable at the principal office of the Paying Agent, upon presentation and surrender thereof, and interest on the Certifi¬cates shall be payable by check of the Paying Agent mailed by the Paying Agent to the Owner (determined as of the close of business on the Record Date) at the address shown on the Certifi¬cate Register. Each Certificate delivered under this Resolution upon transfer of, in exchange for or in lieu of any other Certifi¬cate shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Certifi¬cate, and each such Certificate shall bear interest (as herein set forth) so neither gain nor loss in interest shall result from such transfer, exchange or substitution.
No Certificate shall be entitled to any right or benefit under this Resolution, or be valid or obliga¬tory for any purpose, unless there appears on such Certificate a certificate of registra¬tion, substantially in the form provided in this Resolution, executed by the Paying Agent by manual signature.
The Certificate is hereby issued on a parity with the Outstanding Parity Certificates, and the Certificates shall rank equally with and enjoy complete parity of lien with the Outstanding Parity Certificates on the revenues pledged to the payment therefor or other funds specially applicable to the payment of said Outstanding Parity Certificates, including funds established under the resolution authorizing the issuance of the Outstanding Parity Certificates (the "Outstanding Parity Certificate Resolution").
SEC¬TION 3. Redemption Provisions. The Certificates are not callable for redemption prior to their stated dates of maturity. However, in the event the IRS issues a ruling notice or final determination affecting the tax-exempt or bank-qualification of the Certificates as a result of an action of the Issuer or a breach or inaccuracy of any covenants or representations of the Issuer in connection with the financing, the Issuer shall use its best efforts to refund, in accordance with Section 9 or otherwise, the outstanding Certificates at the earliest possible date.
SECTION 4. Registration and Transfer. The Issuer shall cause the Certifi¬cate Register to be kept by the Paying Agent. The Certificates may be transferred, registered and assigned only on the Certifi¬cate Register, and such registra¬tion shall be at the expense of the Issuer. A Certificate may be assigned by the execution of an assignment form on the Certifi¬cate or by other instru¬ments of transfer and assignment accept¬able to the Paying Agent. A new Certificate or Certificates will be delivered by the Paying Agent to the last assignee (the new Owner) in exchange for such transferred and assigned Certificates after receipt of the Certificates to be transferred in proper form. Such new Certifi¬cate or Certificates shall be in an authorized denomination of the same maturity and like principal.

SECTION 4. Form of Certificates. The Certificates and the endorsements to appear thereon shall be in substantially the following forms, respectively, to wit:

[FORM OF CERTIFICATE]
No. R-____ Principal Amount $________

UNITED STATES OF AMERICA
STATE OF LOUISIANA
PARISH OF FRANKLIN

LIMITED TAX CERTIFICATE OF INDEBTEDNESS, SERIES 2007B
OF FRANKLIN PARISH SCHOOL DISTRICT OF THE
PARISH OF FRANKLIN, STATE OF LOUISIANA

Certificate Maturity Interest
Date Date Rate

October 19, 2007 October 19, _____ 4.05%

Franklin Parish School District of the Parish of Franklin, State of Louisiana (the "Issuer"), promis¬es to pay, but solely from the source and as hereinafter provided, to:

___________________________________________

or registered assigns, on the Maturity Date set forth above, the Principal Amount set forth above, together with interest thereon from the Certificate Date set forth above or the most recent interest payment date to which interest has been paid or duly provided for, payable on April 19 and October 19 of each year, commenc¬ing April 19, 2008 (each an "Interest Payment Date"), at the Inter¬est Rate per annum set forth above until said Principal Amount is paid. The principal of this Certificate, upon maturity or redemption subject to the provisions of Section 3 of the Resolution, ¬is payable in lawful money of the United States of America at the principal office of Regions Bank, in Baton Rouge, Louisiana, ¬¬or successor thereto (the "Paying Agent"), upon presentation and surrender hereof. Interest on this Certifi¬cate is payable by check mailed by the Paying Agent to the registered owner (deter¬mined as of the close of business on the 15th calendar day of the month next preced¬ing each Interest Payment Date) at the address as shown on the registra¬tion books of the Paying Agent.
This Certificate is one of an authorized issue aggregat¬ing in principal the sum of One Million Five Hundred Thousand Dollars ($1,500,000) of Limited Tax Certificates of Indebtedness, Series 2007B, of the Issuer (the "Certificates") all of like tenor and effect except as to number, denomination, interest rate and maturity, said Certifi¬cates having been issued by the Issuer pursuant to a resolution adopted by its governing authority on October 1, 2007 (the "Resolution"), for the purpose of renovating, improving, repairing and supporting schools and school related facilities and equipment for the Issuer as authorized by the voters at an election held on May 5, 2007, and paying the costs of issuance thereof, under the authority conferred by Section1430 of Title 39 of the ¬Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority.
This Certificate is issued on a complete parity with the Issuer's Limited Tax Certificates of Indebtedness (Taxable QZAB), Series 2007A, final maturity October 19, 2017 (the "Outstanding Parity Certificates").
The Certificates are not callable for redemption prior to their stated dates of maturity. However, in the event the IRS issues a ruling notice or final determination affecting the tax-exempt or bank-qualification of the Certificates as a result of an action of the Issuer or a breach or inaccuracy of any covenants or representations of the Issuer in connection with the financing, the Issuer shall use its best efforts to refund, in accordance with Section 9 of the Resolution or otherwise, the outstanding Certificates at the earliest possible date.
The Issuer shall cause to be kept at the principal office of the Paying Agent a register (the "Certificate Register") in which registration of the Certificates and of transfers of the Certificates shall be made as provided in the Resolution. This Certificate may be transferred, registered and assigned only on the Certificate Register, and such registra¬tion shall be at the expense of the Issuer. This Certificate may be assigned by the execution of the assignment form hereon or by other instrument of transfer and assignment acceptable to the Paying Agent.
This Certificate, equally with the Outstanding Parity Certificates, is secured by an irrevocable pledge and dedication of the funds to be derived by the Issuer from the levy and collection of a special 15 mills tax (such rate being subject to adjustment from time to time due to reassessment) authorized to be levied through the year 2016 (the "Tax") on all the property subject to taxation within the corporate boundaries of the Issuer pursuant to an election held therein on May 5, 2007. For a more complete statement of the Tax revenues from which and conditions under which this Certificate is issued, reference is hereby made to the Resolution. The Issuer, in the Resolution, ¬has also entered into certain other covenants and agreements with the registered owner of this Certificate, including provisions for the issuance of additional certificates of indebtedness payable from the proceeds of the Tax on a parity with this Certificate and the Outstanding Parity Certificates, for the terms of which reference is made to the Resolution.
This Certificate shall not be valid or become obligato¬ry for any purpose or be entitled to any security or benefit under the Resolution until the certifi¬cate of registration hereon shall have been signed by the Paying Agent.
It is certified that this Certificate is authorized by and issued in conformity with the requirements of the Constitu¬tion and statutes of this State. It is further certified, recited and declared that all acts, conditions and things re¬quired to exist, to happen and to be performed precedent to and in the issuance of this Certificate and the issue of which it forms a part to constitute the same legal, binding and valid obligations of the Issuer have existed, have happened and have been performed in due time, form and manner as required by law, and that the indebtedness of the Issuer, including this Certifi¬cate and the issue of which it forms a part, does not exceed the limitations prescribed by the Constitu¬tion and statutes of the State of Louisiana.
IN WITNESS WHEREOF, the Parish School Board of the Parish of Franklin, State of Louisiana, acting as the governing authority of the Issuer, has caused this Certifi¬cate to be executed on behalf of the Issuer by the manual or facsimile signature of its President and attested by its Secretary and its corporate seal to be impressed hereon.
FRANKLIN PARISH SCHOOL DISTRICT OF THE PARISH OF FRANKLIN, STATE OF LOUISIANA

Secretary, Parish School Board President, Parish School Board

(SEAL)
* * * * * *
(FORM OF PAYING AGENT'S CERTIFICATE OF REGISTRATION)
This Certificate is one of the Certificates referred to in the within mentioned Resolution.

Regions Bank
Baton Rouge, Louisiana

Date of Registration: By:
Authorized Officer

* * * * * *

(FORM OF ASSIGNMENT)

FOR VALUE RE¬CEIVED, the undersigned hereby sells, assigns and transfers unto

Please Insert Social Security
or other Identifying Number of Assignee
the within Certificate and all rights thereunder, and hereby irrevocably constitutes and appoints

attorney or agent to transfer the within Certificate on the books kept for registration thereof, with full power of substitution in the premises.

Dated:
NOTICE: The signature to this assign¬ment must corre¬spond with the name as it appears upon the face of the within Certificate in every particular, without alteration or enlarge¬ment or any change whatever.

* * * * *

SECTION 6. Execution of Certificates. The Certifi¬cates shall be signed by the Executive Officers for, on behalf of, in the name of and under the corporate seal of the Issuer, which signa¬tures and corporate seal may be either manual or facsimile.
SECTION 7. Pledge and Dedication of Revenues. Pursuant to the Act, the Certificates, equally with the Outstanding Parity Certificates, shall be secured by and payable from an irrevocable pledge and dedication of the avails or proceeds of the Tax. This Governing Authority does hereby obligate itself and its successors in office to impose and collect the Tax annually through the year 2016, so long as the Certificates and the Outstanding Parity Certificates are outstanding, as provided in the proposition authorizing the Tax, and does hereby irrevocably and irrepealably dedicate, appropriate and pledge the annual income to be derived from the assessment, levy and collec¬tion of the Tax in each of the years through 2016, inclusive, to the payment of the Certificates and the Outstanding Parity Certificates.
SECTION 8. Sinking Fund. For the payment of the principal of and the interest on the Certificates, the Outstanding Parity Certificates and any additional parity certificates of indebtedness, there is hereby created a special fund known as "Franklin Parish School District, Limited Tax Certificates of Indebtedness, Sinking Fund", said Sinking Fund to be ¬maintained with the regularly designated fiscal agent bank of the Issuer. The Issuer shall deposit in the Sinking Fund at least one (1) day in advance of the date on which each payment of principal and/or interest on the Certificates and the Outstanding Parity Certificates fall due, funds fully sufficient to promptly pay principal of and/or interest so falling due on such date. Said fiscal agent bank shall make available from the Sinking Fund to the Paying Agent funds fully sufficient to pay promptly principal and/or interest falling due on such date.
(b) All moneys deposited with the regularly designated fiscal agent bank of the Issuer or the Paying Agent under the terms of this Resolution shall constitute dedicated funds for the benefit of the Owners of the Certificates and the Outstanding Parity Certificates, and shall be secured by said fiduciaries at all times to the full extent thereof in the manner required by law for the securing of depos¬its of public funds.
(c) 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 provi¬sions of the laws of the State of Louisiana.
SECTION 9. Parity Certificates. The Issuer shall issue no other certificates or obligations of any kind or nature payable from or enjoying a lien on the revenues of the Tax having priority over or parity with the Certificates and the Outstanding Parity Certificates, except that addition¬al certificates may hereafter be issued on a parity with the Certificates and the Outstanding Parity Certificates under the following conditions:
(1) The Certificates herein authorized or any part thereof, including the interest thereon, may be refunded, and the refunding certificates so issued shall enjoy complete equality of lien with the portion of the Certificates which is not refunded, if there be any, and the refunding certificates shall continue to enjoy whatever priority of lien over subsequent issues may have been enjoyed by the Certificates refunded; provided, however, that if only a portion of the Certificates outstanding is so refunded and the refunding certificates require total principal and interest payments during any year in excess of the principal and interest which would have been required in such year to pay the Certificates refunded thereby, then such Certificates may not be refunded without the consent of the Owner of the unrefunded portion of the Certificates issued hereunder (provided such consent shall not be required if such refunding certificates meet the requirements set forth in clause 2 of this Sec¬tion).
(2) Additional certificates of indebtedness may be issued on and enjoy a full and complete parity with the Certificates and the Outstanding Parity Certificates with respect to the Tax, provided that the combined principal and interest requirements for any calendar year on the Certificates, the Outstanding Parity Certificates and the said additional certifi¬cates of indebted¬ness may not exceed 75% of the revenues estimated to be realized from the levy of the Tax in the year in which such additional certificates of indebtedness are issued; it being provided, however, that the proceeds of said additional certificates of indebted¬ness are to be expended only for the purposes for which the Tax is levied.
(3) Junior and subordinate certificates of indebtedness may be issued without restriction.
(4) The Issuer must be in full compliance with all covenants and undertakings in connection with the Certificates and the Outstanding Parity Certificates and there must be no delinquencies in payments required to be made in connection there¬with, unless the Owners waive such non-compliance or delinquency.
(5) The additional certificates must be payable as to principal on October 19th of each year, commencing not more than 2 years from the date thereof, and payable as to interest on April 19 and October 19 of each year.
SECTION 10. Budget. As long as any of the Certificates are outstanding and unpaid in principal or interest, the Issuer shall prepare and adopt a budget prior to the begin¬ning of each Fiscal Year and shall furnish a copy of such budget within thirty (30) days after its adoption to the Purchaser.
SECTION 11. Application of Proceeds. The Executive Officers are hereby empowered, authorized and directed to do any and all things necessary and incidental to carry out all of the provisions of this Resolution, to cause the Certificates to be prepared or printed, to issue, execute and seal the Certificates, and to effect delivery thereof as hereinafter provided. The proceeds derived from the sale of the Certificates shall be deposited by the Issuer with its fiscal agent bank or banks to be used only for the purpose for which the Certificates are issued.
SECTION 12. Certificates Legal Obligations. The Certificates shall constitute legal, binding and valid obliga¬tions of the Issuer, and its successors in office, and shall be the only representation of the indebted¬ness as herein authorized and created.
SECTION 13. Resolution a Contract. The provisions of this Resolution shall constitute a contract between the Issuer, or its successor, and the Owners from time to time of the Certificates and any such Owner 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 Certificates.
SECTION 14. Amendment to Resolution. No material modification or amend¬ment of this Resolution, or of any resolution amendatory hereof or supple¬mental hereto, may be made without the consent in writing of the Owners of two thirds (2/3) of the aggregate principal amount of the Certificates then outstanding; provided, however, that no modifica¬tion or amendment shall permit a change in the maturity or redemption provisions of the Certifi¬cates, or a reduction in the rate of interest thereon, or in the amount of the principal obligation thereof, or affecting the obligation of the Issuer to pay the principal of and the interest on the Certificates as the same shall come due from the revenues appro¬priated, pledged and dedicated to the payment thereof by this Resolution, or reduce the percentage of the Owners required to consent to any material modification or amendment of this Resolution, without the consent of the Owners of the Certificates.
SECTION 15. Recital of Regularity. This Governing Authority having investi¬gated the regularity of the proceedings had in connection with the Certificates herein authorized and having determined the same to be regular, the Certificates shall contain the following recital, to wit:
"It is certified that this Certif¬i¬cate is 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 Certificate is regis¬tered as the Owner of such Certificate for the purpose of receiv¬ing payment of the principal (and redemption price) of and interest on such Certificate and for all other purposes whatsoev¬er, 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.
SECT¬ION 17. Notices to Owners. Wherever this Resolution pro¬vides for notice to the Owners of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first class postage prepaid, to each Owner at the address of such Owner as it appears in the Certificate Register. Where this Resolution provides for notice in any manner, such notice may be waived in writing by the Owner 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 and the Issuer, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver.
SECTION 18. Cancellation of Certificates. All Certif¬icates surrendered for payment shall be prompt¬ly canceled by either the Paying Agent or the Issuer. All canceled Certificates held by the Paying Agent shall be disposed of as directed in writing by the Issuer.
SECTION 19. Mutilated, Destroyed, Lost or Stolen Certificates. If (1) any mutilated Certifi¬cate is surrendered to the Paying Agent, or the Issuer and the Paying Agent receive evidence to their satisfac¬tion of the destruction, loss or theft of any Certificate, and (2) there is delivered to the Issuer and the Paying Agent such security or indemnity as may be required by them to save each of them harm¬less, then, in the absence of notice to the Issuer or the Paying Agent that such Certificate has been acquired by a bona fide purchaser, the Issuer shall execute, and upon its request the Paying Agent shall register and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost, or stolen Certificate, a new Certificate of the same maturity and of like tenor, interest rate and principal amou¬nt, bearing a number not contemporaneously outstanding. In case any such mutilated, destroyed, lost or stolen Certificate has become or is about to become due and payable, the Issuer in its discretion may, instead of issuing a new Certificate, pay such Certificate. Upon the issuance of any new Certificate under this Section, the Issuer may require the payment by the Owner of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Paying Agent) connected therewith. Every new Certificate issued pursuant to this Section in lieu of any mutilated, de¬stroyed, lost or stolen certificate shall constitute a replacement of the prior obligation of the Issuer, whether or not the mutilat¬ed, destroyed, lost or stolen Certificate shall be at any time enforceable by anyone and shall be entitled to all the benefits of this Resolution equally and ratably with any other Outstanding Certificates. Any additional procedures set forth in the Agree¬ment, authorized in this Resolution, shall also be available with respect to any mutilated, de¬stroyed, lost or stolen Certificate. The provi¬sions 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 any mutilated, de¬stroyed, lost or stolen Certificate.
SEC¬TION 20. Discharge of Resolution; Defeasance. If the Issuer shall pay or cause to be paid, or there shall other¬wise be paid to the Owner, the principal of and interest on the Certifi¬cates, 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 cove¬nants, agree¬ments, and other obligations of the Issuer to the Owner shall thereupon cease, terminate, and become void and be discharged and satisfied, and the Paying Agent shall pay over or deliver all money held by it under this Resolution to the Issuer.
Certificates or interest installments for the payment or redemption of which money shall have been set aside and shall be held in trust (through deposit by the Issuer of funds for such payment or otherwise) at the maturi¬ty date thereof shall be deemed to have been paid within the meaning and with the effect expressed above in this Section if they are defeased in the manner provided by Chapter 14 of Title 39 of the Louisiana Revised Statutes of 1950, as amended.
SECTION 21. Successor Paying Agent; Paying Agent Agreement. The Issuer will at all times maintain a Paying Agent meeting the qualifica¬tions hereinafter described for the perfor¬mance of the duties hereunder for the Certificates. The designa¬tion 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 resolutions giving notice of the termination of the Agreement and appointing a successor and (b) causing notice to be given to the 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 exer¬cise trust powers, and subject to supervi¬sion or examination by Federal or State authority. The Executive Officers are hereby authorized and directed to execute an appropri¬ate Agree¬ment with the Paying Agent for and on behalf of the Issuer in such form as may be satisfactory to said officers, the signa¬tures of said officers on such Agreement to be conclu¬sive evi¬dence of the due exercise of the authority granted hereunder.
SECTION 22. Disclosure Under SEC Rule 15c2-12. It is recognized that the Issuer will not be required to comply with the continuing disclosure requirements described in the Rule 15c-2-12(b) of the Securities and Exchange Commission 17 CFR (240.15c2-12(b), because:
(a) the Certificates are not being purchased by a broker, dealer or municipal securities dealer acting as an underwriter in a primary offering of municipal securities, and
(b) the Certificates are being sold to only one financial institution(i.e., no more than thirty-five persons), which (i) have such knowledge and experience in financial and business matters that they are capable of evaluating the merits and risks of the prospective investment in the Certificates and (ii) are not purchasing the Certificates for more than one account or with a view to distributing the Certificates.
SECTION 23. Arbitrage. The Issuer covenants and agrees that, to the extent permit¬ted by the laws of the State of Louisi¬ana, it will comply with the requirements of the Inter¬nal Revenue Code of 1986 and any amendment thereto (the "Code") in order to establish, maintain and preserve the exclusion from "gross income" of interest on the Certificates under the Code. The Issuer further covenants and agrees that it will not take any action, fail to take any action, or permit any action within its control to be taken, or permit at any time or times any of the proceeds of the Certificates or any other funds of the Issuer to be used directly or indirectly in any manner, the effect of which would be to cause the Certificates to be an "arbitrage bond" or would result in the inclusion of the interest on the Certificates in gross income under the Code, including, without limitation, (i) the failure to comply with the limitation on investment of Certifi¬cate proceeds or (ii) the failure to pay any required rebate of arbitrage earnings to the United States of America or (iii) the use of the proceeds of the Certificates in a manner which would cause the Certificates to be a "private activity bond".
SECTION 24. Designation as "Qualified Tax-Exempt Obligations". The Certif¬icates are designated as "qualified tax exe¬mpt obliga¬tions" within the meaning of Section 265(b)(3) of the Code. In making this designation, the Issuer finds and deter¬mines that:
(a) the Certificates are not "private activity bonds" within the meaning of the Code; and
(b) the reasonably anticipated amount of qualified tax exempt obligations which will be issued by the Issuer and all subordi¬nate entities in calendar year 2007 does not exceed $10,000,000.
The Executive Officers are hereby empow¬ered, autho¬rized and directed to take any and all action and to execute and deliver any instrument, document or certificate necessary to effectuate the purposes of this Section.
SECTION 25. Publication. A copy of this Resolution shall be published immediately in one (1) issue of the official journal of the Issuer.
SECTION 26. Award of Certificates. The Issuer hereby accepts the offer of the Purchaser to purchase the Certificates, attached as Exhibit "A" hereto. All of the provisions of said offer attached as Exhibit A hereto are agreed to and incorporated herein by reference. The Certificates shall be delivered to the Purchas¬er upon the payment of the principal amount thereof.
SECTION 27. Severability; Application of Subsequently Enacted Laws. In case any one or more of the provisions of this Resolution or of the Certificates shall for any reason be held to be illegal or invalid, such illegality or invalidity shall not affect any other provisions of this Resolution or of the Certificates, but this Resolution and the Certificates shall be construed and enforced as if such illegal or invalid provisions had not been contained therein. Any constitu¬tional or statutory provi¬sions enacted after the date of this Resolution which vali¬date or make legal any provision of the Resolution and/or the Certificates which would not otherwise be valid or legal, shall be deemed to apply to this Resolution and to the Certificates.
SECTION 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.
This resolution having been submitted to a vote, the vote thereon was as follows:
Member Yea Nay Absent Abstaining

Eddie Ray Bryan x _____ _____ _____
Ronnie Hatton x _____ _____
Jesse Young x _____ _____
Richard Kelly x _____ _____
Louise Johnson x _____ _____
Tim Eubanks x _____ _____
Dorothy Brown x _____ _____

And the resolution was declared adopted on this, the 1st day of October, 2007.
/s/ Lanny Johnson /s/ Eddie Ray Bryan
Secretary President
EXHIBIT A
COMMITMENT LETTER

STATE OF LOUISIANA
PARISH OF FRANKLIN
I, the undersigned Secretary of the Parish School Board of the Parish of Franklin, State of Louisiana, acting as the governing authority of Franklin Parish School District of the Parish of Franklin, State of Louisiana (the (Issuer() do hereby certify that the foregoing ______ (___) pages constitute a true and correct copy of a resolution adopted by the Parish School Board on October 1, 2007, providing for the incurring of debt and issuance of One Million Five Hundred Thousand Dollars ($1,500,000) of Limited Tax Certificates of Indebtedness, Series 2007B, of Franklin Parish School District of the Parish of Franklin, State of Louisi¬ana; prescrib¬ing the form, terms and condi¬tions thereof and provid¬ing for the pay¬ment thereof; awarding such Certifi¬cates to the pur¬chasers thereof; and providing for other mat¬ters in connection therewith.
IN FAITH WHEREOF, witness my official signature and the impress of the official seal of said Issuer on this, the 1st day of October, 2007.

____________________________________
Secretary
(SEAL)
10/10 1tb
The following resolution was offered by Mr. Richard Kelly and seconded by Mr. Jesse Young: ¬
RESOLUTION

A resolution providing for the incurring of debt and issuance of Three Million Nine Hundred Thirty Three Thousand Six Hundred Dollars ($3,933,600) of Limited Tax Certificates of Indebtedness (Taxable QZAB), Series 2007A, of Franklin Parish School District of the Parish of Franklin, State of Louisi¬ana; prescrib¬ing the form, terms and condi¬tions thereof and provid¬ing for the pay¬ment thereof; awarding such Certifi¬cates to the pur¬chasers thereof; and providing for other mat¬ters in connection therewith.
WHEREAS, pursuant to the proposition approved by the voters of Franklin Parish School District of the Parish of Franklin, State of Louisiana (the "Issuer"), at an election held on May 5, 2007, the Issuer was authorized to levy a special tax of 15 mills (such rate being subject to adjustment from time to time due to reassess¬ment) through the year 2016, for the purpose of renovating, improving, operating, repairing and/or supporting schools and school related facilities, equipment and programs as set out in a proposition approved by the voters on May 5, 2007, and paying the costs of issuance of the Certificates (the "Tax"); and
WHEREAS, pursuant to and in accordance with Section 1430 of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority, the Issuer now desires to incur debt and issue its Limited Tax Certificates of ¬Indebted¬ness (Taxable QZAB), Series 2007A, in the principal amount of Three Million Nine Hundred Thirty Three Thousand Six Hundred Dollars ($3,933,600) (the "Series 2007A Certifi¬cates") for the purpose of rehabilitating or repairing schools and school related facilities and purchasing equipment for the Issuer as authorized by the voters at an election held on May 5, 2007, and paying the costs of issuance thereof; and
WHEREAS, other than the Series 2007A Certificates herein authorized and the Series 2007B Certificates (hereinafter defined), the Issuer will have no outstanding obligations as of the date of delivery of the Certificates of any kind or nature payable from or enjoying a lien on the Tax herein pledged; and
WHEREAS, the Series 2007A Certificates shall be issued on a complete parity with the Series 2007B Certificates; and
WHEREAS, the maturities of the Series 2007A Certificates and the Series 2007B Certificates have been arranged so that the combined principal and interest requirements for any calendar year on said Certificates does not exceed 75% of the revenues estimated to be received by the Issuer from the Tax in the year 2007 (which is hereby estimated to be at least $809,000); and
WHEREAS, it is the desire of the Issuer to fix the details necessary with respect to the issuance of the Series 2007A Certificates and to provide for the authorization and issuance thereof; and
WHEREAS, it is the further desire of the Issuer to provide for the sale of the Series 2007A Certificates to the Purchaser (hereinafter defined) at the price and in the manner hereinaf¬ter provid¬ed; and
WHEREAS, the Issuer further desires to qualify said Series 2007A Certificates under Section 1397E of the Internal Revenue Code of 1986, as amended, such that an Eligible Taxpayer (herein defined) holding the Series 2007A Certificates on a Credit Allowance Date (herein defined) may be allowed a tax credit against federal income tax imposed on such Eligible Taxpayer for the taxable year that includes the Credit Allowance Date, in an amount equal to the Credit Rate (herein defined) multiplied by the face amount of Series 2007A Certificates held by an Eligible Taxpayer on the Credit Allowance Date; and
WHEREAS, Section 1397E (d) of the Code requires an issuer to (i) designate the Qualified Zone Academy with respect to which proceeds of Certificates designated as Qualified Zone Academy Bonds are to be used, (ii) specify the qualified purpose(s) for which proceeds of Certificates designated as Qualified Zone Academy Bonds are to be used, and (iii) certify that a private business contribution requirement has been satisfied;
NOW, THEREFORE, BE IT RESOLVED by the Parish School Board of the Parish of Franklin, State of Louisiana, acting as the governing authority of Franklin Parish School District of the Parish of Franklin, State of Louisiana, that:
SECTION 1. Definitions. As used herein, the following terms shall have the following meanings, unless the context otherwise requires:
"Act" means Section 1430 of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority.
"Agreement" means the agreement to be entered into between the Issuer and the Paying Agent pursuant to this Resolution.
"Certificate" means any certificate of indebtedness of the Issuer authorized to be issued by this Resolution, whether initially delivered or issued in exchange for, upon transfer of, or in lieu of any certificate previously issued.
"Certificates"or (Series 2007A Certificates( means the Issuer's Limited Tax Certificates of Indebtedness (Taxable QZAB), Series 2007A, autho¬rized by this Resolution, in the total aggregate principal amount of Three Million Nine Hundred Thirty Three Thousand Six Hundred Dollars ($3,933,600).
"Certificate Register" means the records kept by the Paying Agent at its principal corporate office in which registra¬tion of the Certificates and transfers of the Certifi¬cates shall be made as provided herein.
"Code" means the Internal Revenue Code of 1986, as amended.
"Comprehensive Education Plan" means the program described in Appendix A which has been designed by the School System in cooperation with business for the Qualified Zone Academy to enhance the academic curriculum, increase graduation and employment rates, and better prepare students for the rigors of college and the increasingly complex workplace.
"Credit Allowance Date" means with respect to the Certificates, the last day of the one year period beginning on the Date of Issuance and the last day of each successive one year period thereafter.
"Credit Rate" means the rate designated on the date of closing as evidenced by Exhibit "C" hereto.
"Date of Issuance" means the date the Issuer receives payment for the Certificates.
"Eligible Taxpayer" means (a) a bank within the meaning of Section 581 of the Code, (b) an insurance company to which subchapter L of the Code applies and (c) a corporation actively engaged in the business of lending money.
"Executive Officers" means ¬the President and the Secretary of the Governing Authority.
"Fiscal Year" means the one-year accounting period beginning July 1 of each year, or such other accounting period as may be designated by the Governing Authority as the fiscal year of the Issuer.
"Governing Authority" or (School Board( means the Parish School Board of the Parish of Franklin, State of Louisiana.
"Government Securities" means direct obligations of, or obliga¬tions the principal of and interest on which are uncondi¬tion¬ally guaranteed by the United States of America, which are non callable prior to their maturity, may be United States Treasury obligations such as the State and Local Government Series and may be in book entry form.
"Interest Payment Dates" means April 19 and October 19 of each year, commencing April 19, 2008.
"Issuer" means Franklin Parish School District of the Parish of Franklin, State of Louisiana.
"Outstanding" when used with respect to the Certificates means, as of the date of determination, any Certificate thereto¬fore issued and delivered under this Resolution, except:
1. Any Certificate theretofore canceled by the Paying Agent or delivered to the Paying Agent for cancella¬tion;
2. Certificates for which payment or redemption suffi¬cient funds or government securities, or both, have been theretofore deposited in trust for the owners of such Certificates with the effect specified in this Resolution or by law;
3. Any Certificate in exchange for or in lieu of which another Certificate has been registered and deliv¬ered pursuant to this Resolution; and
4. Any Certificate alleged to have been mutilated, de¬stroy¬ed, lost or stolen which may have been paid as provided in this Resolution or by law.
"Outstanding Parity Certificate Resolution" means the resolution adopted by the Governing Authority on October 1, 2007, authorizing the issuance of the Series 2007B Certificates.
"Outstanding Parity Certificates" or "Series 2007B Certificates" means as of the date of delivery of the Certificates, the Issuer's $1,500,000 of Limited Tax Certificates of Indebtedness, Series 2007B, maturing serially on October 19, 2008 through October 19, 2017, inclusive.
"Owner" when used with respect to any Certificate means the Person in whose name such Certificate is registered in the Certificate Register.
"Paying Agent" means Regions Bank, in Baton Rouge, Louisiana, until a successor Paying Agent shall have been ap¬pointed pursuant to the applicable provisions of this Resolution and thereafter "Paying Agent" shall mean such successor Paying Agent.
"Person" means any individual, corporation, partner¬ship, joint venture, association, joint stock company, trust, unincorpo¬rated organization or government or any agency or political subdivision thereof.
"Private Contributor" means National Education Foundation, the private entity executing the Qualified Contribution Agreement and making a Qualified Contribution.
"Purchaser" means Regions Bank, in Monroe, Louisiana, ¬the original purchaser of the Certificates, and its successors, assigns and transferees.
"Qualified Contribution Agreement" means the agreement by that name attached as Exhibit "B" hereto by and between the School Board and the Private Contributor providing for a Qualified Contribution in accordance with the QZAB Code Provision.
"Qualified Contribution" means any contribution identified in the Qualified Contribution Agreement.
"Qualified Purposes" means the purposes identified in Appendix B hereto for which at least ninety-five percent (95%) of the proceeds of the Series 2007A Certificates must be expended which must involve one or more of the following:
(a) rehabilitating or repairing the public school facility in which the Qualified Zone Academy is established,
(b) providing equipment for use at such Qualified Zone Academy,
(c) developing course materials for education to be provided at such Qualified Zone Academy, or
(d) training teachers and other school personnel in such Qualified Zone Academy.
"Qualified Zone Academy" means the public schools identified and/or academic programs identified in Appendix C and/or certified by the Superintendent of the School System as satisfying the requirements of the QZAB Code Provision and the QZAB Regulations which will be subject to the Comprehensive Education Plan.
"QZAB Code Provision" means Section 1397E of the Code.
"QZAB Regulations" means Section 1.1397E-1 of the Treasury Regulations at 26 CFR Part 1.
"Resolution" means this resolution authorizing the issuance of the Certificates, as it may be supplemented and amended.
"School System" means the Franklin School Board System.
"Sinking Fund" means the "Franklin Parish School District, Limited Tax Certificates of Indebtedness, Sinking Fund" established pursuant to Section 8 herein.
"Superintendent" means the Superintendent of the Franklin Parish School Board.
"Tax" means the special ad valorem tax of 15 mills (such rate being subject to adjustment from time to time due to reassess¬ment) for the purpose of renovating, improving, operating, repairing and/or supporting schools and school related facilities, equipment and programs as set out in a proposition approved by the voters on May 5, 2007, and paying the costs of issuance of the Certificates, to be levied and collected annually through the year 2016.
SECTION 2. Authorization of Certificates; Maturities. Subject to the approval of the State Bond Commission and in compliance with the terms and provisions of the Act, the QZAB Code Provision, the QZAB Regulations, and other constitu¬tional and statutory authority, there is hereby and other constitu¬tional and statutory authority, there is hereby authorized the incurring of an indebted¬ness of Three Million Nine Hundred Thirty Three Thousand Six Hundred Dollars ($3,933,600) for, on behalf of, and in the name of the Issuer, for the purpose of rehabilitating or repairing schools and school related facilities and purchasing equipment for the Issuer as authorized by the voters at an election held on May 5, 2007, and paying the costs of issuance thereof. Costs of issuance shall not exceed five percent (5%) of the proceeds of the Certificates. To represent said indebted¬ness this Govern¬ing Authority does hereby authorize the issuance of its Limited Tax Certificates of Indebtedness (Taxable QZAB), Series 2007A, in the principal amount of Three Million Nine Hundred Thirty Three Thousand Six Hundred Dollars ($3,933,600). The Certificates shall be in fully registered form, shall be dated the date of delivery thereof, shall be issued in denomina¬tions corresponding to the principal amount of each maturity (one Certificate per maturity), and shall be numbered from R-1 upward. The Certifi¬cates 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 April 19, 2008, at the rate of 1.25% per annum and shall become due and payable and mature serially on October 19 of the years and in the amounts, as follows:
Certificate Year Principal
Number (October 19) Amount

R-1 2008 $379,830
R-2 2009 383,310
R-3 2010 386,080
R-4 2011 389,180
R-5 2012 391,590
R-6 2013 395,360
R-7 2014 397,450
R-8 2015 400,940
R-9 2016 403,800
R-10 2017 406,060

The principal of the Certificates upon maturity or redemption, subject to Section 3 below, shall be payable at the principal office of the Paying Agent, upon presentation and surrender thereof, and interest on the Certifi¬cates shall be payable by check of the Paying Agent mailed by the Paying Agent to the Owner (determined as of the close of business on the Record Date) at the address shown on the Certifi¬cate Register. Each Certificate delivered under this Resolution upon transfer of, in exchange for or in lieu of any other Certifi¬cate shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Certifi¬cate, and each such Certificate shall bear interest (as herein set forth) so neither gain nor loss in interest shall result from such transfer, exchange or substitution.
No Certificate shall be entitled to any right or benefit under this Resolution, or be valid or obliga¬tory for any purpose, unless there appears on such Certificate a certificate of registra¬tion, substantially in the form provided in this Resolution, executed by the Paying Agent by manual signature.
The Certificate is hereby issued on a parity with the Outstanding Parity Certificates, and the Certificates shall rank equally with and enjoy complete parity of lien with the Outstanding Parity Certificates on the revenues pledged to the payment therefor or other funds specially applicable to the payment of said Outstanding Parity Certificates, including funds established under the resolution authorizing the issuance of the Outstanding Parity Certificates (the (Outstanding Parity Certificate Resolution().
SEC¬TION 3. Redemption Provisions. The Certificates are not subject to optional redemption by the Issuer prior to their stated dates of maturity; however, (i) in the event the Internal Revenue Service issues a ruling notice or final determination affecting the tax credits against Federal income tax imposed on the Purchaser, its successors or assigns, as a result of a breach or inaccuracy of any covenants or representations of the Issuer in connection with the financing, the Issuer shall use its best efforts to refund in accordance with Section 9 or otherwise, the outstanding Certificates at the earliest possible date, and (ii) to the extent that less than 95 percent of the proceeds of the Certificates are expended by the close of the 5-year period beginning on the date of issuance of the Certificates (or if an extension of such expenditure period has been received by the Issuer from the Secretary of the Treasury Department by the close of the extended period) the Issuer shall redeem all of the non-qualified Certificates within 90 days after the end of such period.
SECTION 4. Registration and Transfer. The Issuer shall cause the Certifi¬cate Register to be kept by the Paying Agent. The Certificates may be transferred, registered and assigned only on the Certifi¬cate Register, and such registra¬tion shall be at the expense of the Issuer. A Certificate may be assigned by the execution of an assignment form on the Certifi¬cate or by other instru¬ments of transfer and assignment accept¬able to the Paying Agent. A new Certificate or Certificates will be delivered by the Paying Agent to the last assignee (the new Owner) in exchange for such transferred and assigned Certificates after receipt of the Certificates to be transferred in proper form. Such new Certifi¬cate or Certificates shall be in an authorized denomination of the same maturity and like principal.
SECTION 5. Form of Certificates. The Certificates and the endorsements to appear thereon shall be in substantially the following forms, respectively, to wit:
[FORM OF CERTIFICATE]
No. R-____ Principal Amount $________

UNITED STATES OF AMERICA
STATE OF LOUISIANA
PARISH OF FRANKLIN

LIMITED TAX CERTIFICATE OF INDEBTEDNESS (TAXABLE QZAB),
SERIES 2007A
OF FRANKLIN PARISH SCHOOL DISTRICT OF THE
PARISH OF FRANKLIN, STATE OF LOUISIANA

Certificate Maturity Date of Credit Allowance Credit Interest
Date Date Issuance Date Rate Rate
10/19/07 10/19/__ 10/19/07 __/__/__ _____% 1.25%

Franklin Parish School District of the Parish of Franklin, State of Louisiana (the "Issuer"), promis¬es to pay, but solely from the source and as hereinafter provided, to:

___________________________________________

or registered assigns, on the Maturity Date set forth above, the Principal Amount set forth above, together with interest thereon from the Certificate Date set forth above or the most recent interest payment date to which interest has been paid or duly provided for, payable on April 19 and October 19 of each year, commenc¬ing April 19, 2008 (each an "Interest Payment Date"), at the Inter¬est Rate per annum set forth above until said Principal Amount is paid. The principal of this Certificate, upon maturity or redemption subject to the provisions of Section 3 of the Resolution, ¬is payable in lawful money of the United States of America at the principal office of Regions Bank, in Baton Rouge, Louisiana, ¬¬or successor thereto (the "Paying Agent"), upon presentation and surrender hereof. Interest on this Certifi¬cate is payable by check mailed by the Paying Agent to the registered owner (deter¬mined as of the close of business on the 15th calendar day of the month next preced¬ing each Interest Payment Date) at the address as shown on the registra¬tion books of the Paying Agent.

THIS CERTIFICATE CONSTITUTES A QUALIFIED ZONE ACADEMY BOND WITHIN THE MEANING OF SECTION 1397E OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"). AN ELIGIBLE TAXPAYER IS ENTITLED TO A TAX CREDIT AGAINST FEDERAL INCOME TAX IMPOSED ON SUCH ELIGIBLE TAXPAYER FOR THE TAXABLE YEAR THAT INCLUDES THE CREDIT ALLOWANCE DATE. THE TAX CREDIT UNDER SAID SECTION 1397E IS EQUAL TO THE CREDIT RATE SPECIFIED HEREON MULTIPLIED BY THE PRINCIPAL AMOUNT OF THE CERTIFICATE HELD BY AN ELIGIBLE TAXPAYER ON THE CREDIT ALLOWANCE DATE. AN ELIGIBLE TAXPAYER IS DEFINED UNDER THE CODE TO MEAN (A) A BANK WITHIN THE MEANING OF SECTION 581 OF THE CODE, (B) AN INSURANCE COMPANY TO WHICH SUBCHAPTER L OF THE CODE APPLIES, AND (C) A CORPORATION ACTIVELY ENGAGED IN THE BUSINESS OF LENDING MONEY.
This Certificate is one of an authorized issue aggregat¬ing in principal the sum of Three Million Nine Hundred Thirty Three Thousand Six Hundred Dollars ($3,933,600) of Limited Tax Certificates of Indebtedness (Taxable QZAB), Series 2007A, of the Issuer (the "Certificates") all of like tenor and effect except as to number, denomination, and maturity, said Certifi¬cates having been issued by the Issuer pursuant to a resolution adopted by its governing authority on October 1, 2007 (the "Resolution"), for the purpose of rehabilitating or repairing schools and school related facilities and purchasing equipment for the Issuer as authorized by the voters at an election held on May 5, 2007, and paying the costs of issuance thereof, under the authority conferred by Section 1430 of Title 39 of the ¬Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority.
This Certificate is issued on a complete parity with the Issuer's Limited Tax Certificates of Indebtedness, Series 2007B, final maturity October 19, 2017 (the "Outstanding Parity Certificates"). It is certified that the Issuer, in issuing this Certificate, has complied with all the terms and conditions set forth in the resolution authorizing the issuance of the Outstanding Parity Certificates.
The Certificates are not subject to optional redemption by the Issuer prior to their stated dates of maturity; however, (i) in the event the Internal Revenue Service issues a ruling notice or final determination affecting the tax credits against Federal income tax imposed on the Purchaser, its successors or assigns, as a result of a breach or inaccuracy of any covenants or representations of the Issuer in connection with the financing, the Issuer shall use its best efforts to refund, in accordance with Section 9 of the Resolution or otherwise, the outstanding Certificates at the earliest possible date, and (ii) to the extent that less than 95 percent of the proceeds of the Certificates are expended by the close of the 5-year period beginning on the date of issuance of the Certificates (or if an extension of such expenditure period has been received by the Issuer from the Secretary of the Treasury Department by the close of the extended period) the Issuer shall redeem all of the non-qualified Certificates within 90 days after the end of such period.
The Issuer shall cause to be kept at the principal office of the Paying Agent a register (the "Certificate Register") in which registration of the Certificates and of transfers of the Certificates shall be made as provided in the Resolution. This Certificate may be transferred, registered and assigned only on the Certificate Register, and such registra¬tion shall be at the expense of the Issuer. This Certificate may be assigned by the execution of the assignment form hereon or by other instrument of transfer and assignment acceptable to the Paying Agent.
This Certificate, equally with the Outstanding Parity Certificates, is secured by an irrevocable pledge and dedication of the funds to be derived by the Issuer from the levy and collection of a special 15 mills tax (such rate being subject to adjustment from time to time due to reassessment) authorized to be levied through the year 2016 (the "Tax") on all the property subject to taxation within the corporate boundaries of the Issuer pursuant to an election held therein on May 5, 2007. For a more complete statement of the Tax revenues from which and conditions under which this Certificate is issued, reference is hereby made to the Resolution. The Issuer, in the Resolution, ¬has also entered into certain other covenants and agreements with the registered owner of this Certificate, including provisions for the issuance of additional certificates of indebtedness payable from the proceeds of the Tax on a parity with this Certificate and the Outstanding Parity Certificates, for the terms of which reference is made to the Resolution.
This Certificate shall not be valid or become obligato¬ry for any purpose or be entitled to any security or benefit under the Resolution until the certifi¬cate of registration hereon shall have been signed by the Paying Agent.
It is certified that this Certificate is authorized by and issued in conformity with the requirements of the Constitu¬tion and statutes of this State. It is further certified, recited and declared that all acts, conditions and things re¬quired to exist, to happen and to be performed precedent to and in the issuance of this Certificate and the issue of which it forms a part to constitute the same legal, binding and valid obligations of the Issuer have existed, have happened and have been performed in due time, form and manner as required by law, and that the indebtedness of the Issuer, including this Certifi¬cate and the issue of which it forms a part, does not exceed the limitations prescribed by the Constitu¬tion and statutes of the State of Louisiana.
IN WITNESS WHEREOF, the Parish School Board of the Parish of Franklin, State of Louisiana, acting as the governing authority of the Issuer, has caused this Certifi¬cate to be executed on behalf of the Issuer by the manual or facsimile signature of its President and attested by its Secretary and its corporate seal to be impressed hereon.
FRANKLIN PARISH SCHOOL DISTRICT OF THE PARISH OF FRANKLIN, STATE OF LOUISIANA
Secretary, Parish School Board President, Parish School Board

(SEAL)

* * * * * *

(FORM OF PAYING AGENT'S CERTIFICATE OF REGISTRATION)

This Certificate is one of the Certificates referred to in the within mentioned Resolution.

Regions Bank
Baton Rouge, Louisiana

Date of Registration: By:
Authorized Officer

* * * * * *

(FORM OF ASSIGNMENT)

FOR VALUE RE¬CEIVED, the undersigned hereby sells, assigns and transfers unto

Please Insert Social Security
or other Identifying Number of Assignee
the within Certificate and all rights thereunder, and hereby irrevocably constitutes and appoints

attorney or agent to transfer the within Certificate on the books kept for registration thereof, with full power of substitution in the premises.
Dated:
NOTICE: The signature to this assign¬ment must corre¬spond with the name as it appears upon the face of the within Certificate in every particular, without alteration or enlarge¬ment or any change whatever.

* * * * *

SECTION 6. Execution of Certificates. The Certifi¬cates shall be signed by the Executive Officers for, on behalf of, in the name of and under the corporate seal of the Issuer, which signa¬tures and corporate seal may be either manual or facsimile.
SECTION 7. Pledge and Dedication of Revenues. Pursuant to the Act, the Certificates, equally with the Outstanding Parity Certificates, shall be secured by and payable from an irrevocable pledge and dedication of the avails or proceeds of the Tax. This Governing Authority does hereby obligate itself and its successors in office to impose and collect the Tax annually through the year 2016, so long as the Certificates and the Outstanding Parity Certificates are outstanding, as provided in the proposition authorizing the Tax, and does hereby irrevocably and irrepealably dedicate, appropriate and pledge the annual income to be derived from the assessment, levy and collec¬tion of the Tax in each of the years through 2016, inclusive, to the payment of the Certificates and the Outstanding Parity Certificates.
SECTION 8. Sinking Fund. (a) For the payment of the principal of and the interest on the Certificates, the Outstanding Parity Certificates and any additional parity certificates of indebtedness, there is hereby created a special fund known as "Franklin Parish School District, Limited Tax Certificates of Indebtedness, Sinking Fund", said Sinking Fund to be ¬established and maintained with the regularly designated fiscal agent bank of the Issuer. The Issuer shall deposit in the Sinking Fund at least one (1) day in advance of the date on which each payment of principal and/or interest on the Certificates and the Outstanding Parity Certificates fall due, funds fully sufficient to promptly pay principal of and/or interest so falling due on such date. Said fiscal agent bank shall make available from the Sinking Fund to the Paying Agent funds fully sufficient to pay promptly principal and/or interest falling due on such date.
(b) All moneys deposited with the regularly designated fiscal agent bank of the Issuer or the Paying Agent under the terms of this Resolution shall constitute dedicated funds for the benefit of the Owners of the Certificates and the Outstanding Parity Certificates, and shall be secured by said fiduciaries at all times to the full extent thereof in the manner required by law for the securing of depos¬its of public funds.
(c) 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 provi¬sions of the laws of the State of Louisiana.
SECTION 9. Parity Certificates. The Issuer shall issue no other certificates or obligations of any kind or nature payable from or enjoying a lien on the revenues of the Tax having priority over or parity with the Certificates and the Outstanding Parity Certificates, except that addition¬al certificates may hereafter be issued on a parity with the Certificates and the Outstanding Parity Certificates under the following conditions:
(1) The Certificates herein authorized or any part thereof, including the interest thereon, may be refunded, and the refunding certificates so issued shall enjoy complete equality of lien with the portion of the Certificates which is not refunded, if there be any, and the refunding certificates shall continue to enjoy whatever priority of lien over subsequent issues may have been enjoyed by the Certificates refunded; provided, however, that if only a portion of the Certificates outstanding is so refunded and the refunding certificates require total principal and interest payments during any year in excess of the principal and interest which would have been required in such year to pay the Certificates refunded thereby, then such Certificates may not be refunded without the consent of the Owner of the unrefunded portion of the Certificates issued hereunder (provided such consent shall not be required if such refunding certificates meet the requirements set forth in clause 2 of this Sec¬tion).
(2) Additional certificates of indebtedness may be issued on and enjoy a full and complete parity with the Certificates and the Outstanding Parity Certificates with respect to the Tax, provided that the combined principal and interest requirements for any calendar year on the Certificates, the Outstanding Parity Certificates and the said additional certifi¬cates of indebted¬ness may not exceed 75% of the revenues estimated to be realized from the levy of the Tax in the year in which such additional certificates of indebtedness are issued; it being provided, however, that the proceeds of said additional certificates of indebted¬ness are to be expended only for the purposes for which the Tax is levied.
(3) Junior and subordinate certificates of indebtedness may be issued without restriction.
(4) The Issuer must be in full compliance with all covenants and undertakings in connection with the Certificates and the Outstanding Parity Certificates and there must be no delinquencies in payments required to be made in connection there¬with, unless the Owners waive such non-compliance or delinquency.
(5) The additional certificates must be payable as to principal on October 19th of each year, commencing not more than 2 years from the date thereof, and payable as to interest on April 19 and October 19 of each year.
SECTION 10. Budget. As long as any of the Certificates are outstanding and unpaid in principal or interest, the Issuer shall prepare and adopt a budget prior to the begin¬ning of each Fiscal Year and shall furnish a copy of such budget within thirty (30) days after its adoption to the Purchaser.
SECTION 11. Application of Proceeds. The Executive Officers are hereby empowered, authorized and directed to do any and all things necessary and incidental to carry out all of the provisions of this Resolution, to cause the Certificates to be prepared or printed, to issue, execute and seal the Certificates, and to effect delivery thereof as hereinafter provided. The proceeds derived from the sale of the Certificates shall be deposited by the Issuer with its fiscal agent bank or banks to be used only for the purpose for which the Certificates are issued.
SECTION 12. Certificates Legal Obligations. The Certificates shall constitute legal, binding and valid obliga¬tions of the Issuer, and its successors in office, and shall be the only representation of the indebted¬ness as herein authorized and created.
SECTION 13. Resolution a Contract. The provisions of this Resolution shall constitute a contract between the Issuer, or its successor, and the Owners from time to time of the Certificates and any such Owner 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 Certificates.
SECTION 14. Amendment to Resolution. No material modification or amend¬ment of this Resolution, or of any resolution amendatory hereof or supple¬mental hereto, may be made without the consent in writing of the Owners of two thirds (2/3) of the aggregate principal amount of the Certificates then outstanding; provided, however, that no modifica¬tion or amendment shall permit a change in the maturity or redemption provisions of the Certifi¬cates, or a reduction in the rate of interest thereon, or in the amount of the principal obligation thereof, or affecting the obligation of the Issuer to pay the principal of and the interest on the Certificates as the same shall come due from the revenues appro¬priated, pledged and dedicated to the payment thereof by this Resolution, or reduce the percentage of the Owners required to consent to any material modification or amendment of this Resolution, without the consent of the Owners of the Certificates.
SECTION 15. Recital of Regularity. This Governing Authority having investi¬gated the regularity of the proceedings had in connection with the Certificates herein authorized and having determined the same to be regular, the Certificates shall contain the following recital, to wit:
"It is certified that this Certif¬i¬cate is 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 Certificate is regis¬tered as the Owner of such Certificate for the purpose of receiv¬ing payment of the principal (and redemption price) of and interest on such Certificate and for all other purposes whatsoev¬er, 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.
SECT¬ION 17. Notices to Owners. Wherever this Resolution pro¬vides for notice to the Owners of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first class postage prepaid, to each Owner at the address of such Owner as it appears in the Certificate Register. Where this Resolution provides for notice in any manner, such notice may be waived in writing by the Owner 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 and the Issuer, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver.
SECTION 18. Cancellation of Certificates. All Certif¬icates surrendered for payment shall be prompt¬ly canceled by either the Paying Agent or the Issuer. All canceled Certificates held by the Paying Agent shall be disposed of as directed in writing by the Issuer.
SECTION 19. Mutilated, Destroyed, Lost or Stolen Certificates. If (1) any mutilated Certifi¬cate is surrendered to the Paying Agent, or the Issuer and the Paying Agent receive evidence to their satisfac¬tion of the destruction, loss or theft of any Certificate, and (2) there is delivered to the Issuer and the Paying Agent such security or indemnity as may be required by them to save each of them harm¬less, then, in the absence of notice to the Issuer or the Paying Agent that such Certificate has been acquired by a bona fide purchaser, the Issuer shall execute, and upon its request the Paying Agent shall register and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost, or stolen Certificate, a new Certificate of the same maturity and of like tenor, interest rate and principal amou¬nt, bearing a number not contemporaneously outstanding. In case any such mutilated, destroyed, lost or stolen Certificate has become or is about to become due and payable, the Issuer in its discretion may, instead of issuing a new Certificate, pay such Certificate. Upon the issuance of any new Certificate under this Section, the Issuer may require the payment by the Owner of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Paying Agent) connected therewith. Every new Certificate issued pursuant to this Section in lieu of any mutilated, de¬stroyed, lost or stolen certificate shall constitute a replacement of the prior obligation of the Issuer, whether or not the mutilat¬ed, destroyed, lost or stolen Certificate shall be at any time enforceable by anyone and shall be entitled to all the benefits of this Resolution equally and ratably with any other Outstanding Certificates. Any additional procedures set forth in the Agree¬ment, authorized in this Resolution, shall also be available with respect to any mutilated, de¬stroyed, lost or stolen Certificate. The provi¬sions 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 any mutilated, de¬stroyed, lost or stolen Certificate.
SEC¬TION 20. Discharge of Resolution; Defeasance. If the Issuer shall pay or cause to be paid, or there shall other¬wise be paid to the Owner, the principal of and interest on the Certifi¬cates, 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 cove¬nants, agree¬ments, and other obligations of the Issuer to the Owner shall thereupon cease, terminate, and become void and be discharged and satisfied, and the Paying Agent shall pay over or deliver all money held by it under this Resolution to the Issuer.
Certificates for the payment of which money shall have been set aside and shall be held in trust (through deposit by the Issuer of funds for such payment or otherwise) at the maturi¬ty date thereof shall be deemed to have been paid within the meaning and with the effect expressed above in this Section if they are defeased in the manner provided by Chapter 14 of Title 39 of the Louisiana Revised Statutes of 1950, as amended.
SECTION 21. Successor Paying Agent; Paying Agent Agreement. The Issuer will at all times maintain a Paying Agent meeting the qualifica¬tions hereinafter described for the perfor¬mance of the duties hereunder for the Certificates. The designa¬tion 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 resolutions giving notice of the termination of the Agreement and appointing a successor and (b) causing notice to be given to the 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 exer¬cise trust powers, and subject to supervi¬sion or examination by Federal or State authority. The Executive Officers are hereby authorized and directed to execute an appropri¬ate Agree¬ment with the Paying Agent for and on behalf of the Issuer in such form as may be satisfactory to said officers, the signa¬tures of said officers on such Agreement to be conclu¬sive evi¬dence of the due exercise of the authority granted hereunder.
SECTION 22. Covenants and Certificates Relating to the QZAB Code Provision and QZAB Regulations. The School Board hereby certifies that it is a local educational agency as defined in Section 9101 of the Elementary and Secondary Education Act of 1965 and that the Qualified Zone Academy identified in Appendix C provides education or training below the post-secondary level. The School Board further certifies that:
(i) the Qualified Zone Academy was designed in cooperation with business to enhance the academic curriculum, increase graduation and employment rates and better prepare students for the rigors of college and the increasingly complex workforce,
(ii) students in the Qualified Zone Academy will be subject to the same academic standards and assessments as other students educated by the School System,
(iii) the Comprehensive Education Plan is approved by the School Board,
(iv) either (a) the public schools identified in Appendix C are located in empowerment zones or enterprise communities or (b) there is a reasonable expectation that, as of the date of issuance of the Certificates, at least thirty-five percent (35%) of the students attending the public schools so identified or participating in the QZAB Academy will be eligible for free or reduced-cost lunches under the school lunch program established under the Richard B. Russell National School Lunch Act,
(v) at least ninety-five percent (95%) of the proceeds of the Certificates will used for Qualified Purposes constituting (a) the rehabilitation or repair of the public school facility in which the Qualified Zone Academy is established, (b) equipment for use in the Qualified Zone Academy, (iii) expenditures to develop course materials for education provided at the Qualified Zone Academy, or (iv) expenditures to train teachers and other personnel of the School System in the Qualified Zone Academy, and
(vi) Qualified Contributions committed pursuant to Qualified Contribution Agreements have been or will be received and will have a present value (as of the Date of Issuance) of not less than ten percent (10%) of the proceeds of the Certificates.
SECTION 23. Arbitrage. The Issuer covenants and agrees that, to the extent permitted by the laws of the State of Louisiana, it will comply with the provisions of Section 148 of the Internal Revenue Code of 1986 and any amendment thereto (the "Code"), as required by Section 1397E(g) of the QZAB Code Provision, with respect to the proceeds of the Certificates.
SECTION 24. Authorization and Approval of the Qualified Contribution Agreement and Qualified Contribution. The School Board hereby approves the form of the Qualified Contribution Agreement attached as Exhibit "B" hereto by and between the School Board and the Qualified Contributor to evidence the written commitment that Qualified Contributions have been received and/or committed in connection with the Qualified Zone Academy.
SECTION 25. Disclosure Under SEC Rule 15c2-12. It is recognized that the Issuer will not be required to comply with the continuing disclosure requirements described in the Rule 15c-2-12(b) of the Securities and Exchange Commission 17 CFR (240.15c2-12(b), because:
(a) the Certificates are not being purchased by a broker, dealer or municipal securities dealer acting as an underwriter in a primary offering of municipal securities, and
(b) the Certificates are being sold to only one financial institution(i.e., no more than thirty-five persons), which (i) have such knowledge and experience in financial and business matters that they are capable of evaluating the merits and risks of the prospective investment in the Certificates and (ii) are not purchasing the Certificates for more than one account or with a view to distributing the Certificates.
SECTION 26. Designation as Qualified Zone Academy Bond. In accordance with the requirement of Section 1397E(d)(1)(C)(i) of the Code, the Issuer hereby designates the Certificate as a Qualified Zone Academy Bond.
SECTION 27. Publication. A copy of this Resolution shall be published immediately in one (1) issue of the official journal of the Issuer.
SECTION 28. Award of Certificates. The Issuer hereby accepts the offer of the Purchaser to purchase the Certificates, attached as Exhibit "A" hereto. All of the provisions of said offer attached as Exhibit A hereto are agreed to and incorporated herein by reference. The Certificates shall be delivered to the Purchas¬er upon the payment of the principal amount thereof.
SECTION 29. Severability; Application of Subsequently Enacted Laws. In case any one or more of the provisions of this Resolution or of the Certificates shall for any reason be held to be illegal or invalid, such illegality or invalidity shall not affect any other provisions of this Resolution or of the Certificates, but this Resolution and the Certificates shall be construed and enforced as if such illegal or invalid provisions had not been contained therein. Any constitu¬tional or statutory provi¬sions enacted after the date of this Resolution which vali¬date or make legal any provision of the Resolution and/or the Certificates which would not otherwise be valid or legal, shall be deemed to apply to this Resolution and to the Certificates.
SECTION 30. 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 31. Effective Date. This Resolution shall become effective immediately.
This resolution having been submitted to a vote, the vote thereon was as follows:
Member Yea Nay Absent Abstaining

Eddie Ray Bryan x _____ _____ _____
Ronnie Hatton x _____ _____
Jesse Young x _____ _____
Richard Kelly x _____ _____
Louise Johnson x _____ _____
Tim Eubanks x _____ _____
Dorothy Brown x _____ _____

And the resolution was declared adopted on this, the 1st day of October, 2007.
/s/ Lanny Johnson /s/ Eddie Ray Bryan
Secretary President

EXHIBIT A
COMMITMENT LETTER
EXHIBIT B
FORM OF QUALIFIED CONTRIBUTION AGREEMENT
EXHIBIT C
CREDIT RATE
APPENDIX A
COMPREHENSIVE EDUCATION PLAN
FOR
QUALIFIED ZONE ACADEMY BOND
FRANKLIN PARISH SCHOOL BOARD
APPENDIX B
QUALIFIED PURPOSES
APPENDIX C
LIST OF PUBLIC SCHOOLS AND/OR
ACADEMIC PROGRAMS
STATE OF LOUISIANA
PARISH OF FRANKLIN
I, the undersigned Secretary of the Parish School Board of the Parish of Franklin, State of Louisiana, acting as the governing authority of Franklin Parish School District of the Parish of Franklin, State of Louisiana (the (Issuer() do hereby certify that the foregoing ______ (___) pages constitute a true and correct copy of a resolution adopted by the Parish School Board on October 1, 2007, providing for the incurring of debt and issuance of Three Million Nine Hundred Thirty Three Thousand Six Hundred Dollars ($3,933,600) of Limited Tax Certificates of Indebtedness, Series 2007B, of Franklin Parish School District of the Parish of Franklin, State of Louisi¬ana; prescrib¬ing the form, terms and condi¬tions thereof and provid¬ing for the pay¬ment thereof; awarding such Certifi¬cates to the pur¬chasers thereof; and providing for other mat¬ters in connection therewith.
IN FAITH WHEREOF, witness my official signature and the impress of the official seal of said Issuer on this, the 1st day of October, 2007.

____________________________________
Secretary
(SEAL)
10/10 1tb

Search Our Site

Advertising

Local Weather