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RESOLUTION

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CITY OF GRAMBLING, STATE OF LOUISIANA
April 4, 2019
The following resolution was offered by Council member Toby Bryan and seconded by Council member Yanise Days:
RESOLUTION
A resolution declaring the intention of the City of Grambling, State of Louisiana, to issue Taxable Utilities Revenue Bonds in one or more series, in an amount not to exceed Three Million One Hundred Thousand Dollars ($3,100,000) for the purpose of paying a portion of the cost of constructing and acquiring additions, extensions and improvements to the sewerage portion of the City's combined drinking water and wastewater collection, treatment and disposal system of said City; and providing for other matters in connection therewith.
WHEREAS, the City of Grambling, State of Louisiana (the "City") now owns and operates a combined drinking water and wastewater collection, treatment and disposal system (the "System") as a revenue-producing work of public improvement; and,
WHEREAS, this Mayor and Council, as governing authority of the City, proposes that Taxable Utilities Revenue Bonds will be issued by the City in the manner prescribed by and under the authority of La. R.S. 39:524, and Subpart A, Part II, Chapter 4, Title 39 of the Louisiana Revised Statutes of 1950, as amended (La. R.S. 39:501, et seq.), and other constitutional and statutory authority supplemental thereto (collectively, the "Act"), payable solely from the income and revenues of the System, subject to the prior payment of the reasonable and necessary expenses of operating and maintaining the System; and
WHEREAS, this governing authority now desires to give notice of intention pursuant to the Act to issue $3,100,000 of Taxable Utilities Revenue Bonds to finance improvements to the System;
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Council of the City of Grambling, State of Louisiana, acting as the governing authority of the City, that:
SECTION 1. Intent to Issue Revenue Bonds. Pursuant to and in compliance with the provisions of the Act, and other constitutional and statutory authority, this Governing Authority does hereby declare its intention to issue not to exceed Three Million One Hundred Thousand Dollars ($3,100,000) of its Taxable Utilities Revenue Bonds (collectively, the "Bonds"), in the name of the City, in one or more series, the proceeds of which will be used to pay a portion of the cost of acquiring and constructing additions, extensions and improvements to the sewerage portion of the City's combined drinking water and wastewater collection, treatment and disposal system, including equipment and fixtures, consisting generally of (i) rehabilitating the existing wastewater treatment plant, (ii) replacing the headworks and screen, clarifier mechanism and related equipment, pre and post aeration blowers, various gates and valves, various force mains, (iii) rehabilitating the chlorine contact chambers, plant pumps, select gravity components, (iv) installing variable frequency drives on the existing aerators, (v) repairing the sludge tank, various site work and related items, and (vi) renovating eighteen (18) existing lift stations (the "Project"), and to pay costs of issuance.
All of the Bonds shall be limited and special revenue bonds of the City, secured by and payable in principal, interest and redemption premium, if any, solely from the revenues derived or to be derived by the City from the operation of the System, after paying the reasonable and necessary expenses of operating and maintaining the System, and shall be issued on a complete parity with the City's outstanding (i) Utility Revenue Refunding Bonds, Series 2013, with a final maturity date of March 1, 2033, and (ii) Taxable Utility Revenue Bond, Series 2015, with a final maturity date of March 1, 2036. The Bonds shall not be a charge on the other income and revenues of the City as prohibited under the provisions of Article VI, Section 37 of the Louisiana Constitution of 1974, nor shall they constitute an indebtedness or pledge of the general credit of the City. The Bonds shall be of such series, bear such dates, mature at such time or times, not to exceed twenty-two (22) years from their date of issuance, bear interest at such rate or rates not exceeding ninety-five hundredths of one per centum (0.95%) per annum (which may include administrative fees), be sold at such price or prices, be in such denomination or denominations, be in fully registered form, carry such registration privileges, be payable in such medium of payment and at such place or places, be subject to such terms of redemption and be entitled to such priorities on the income and revenues of the System as the City may provide by ordinance(s) adopted at the time or times of issuance of the Bonds.
The City will, in such ordinance(s), enter into such covenants with the future owner or owners of the Bonds as to the management and operation of the System, the imposition and collection of fees and charges for the products, commodities, or services furnished thereby, the disposition of fees and revenues, the issuance of future bonds, and the creation of future liens and encumbrances against the System and the revenues thereof, the carrying of insurance on the properties constituting the System, the disposition of the proceeds of the insurance, and other pertinent matters, as may be deemed necessary by this governing authority to assure the marketability of the Bonds, provided these covenants are not inconsistent with the provisions of the Act and other applicable laws and regulations. Such ordinance(s) will also include remedies in case of default, provision for the issuance of parity bonds, and such additional covenants, agreements and provisions as are judged advisable or necessary by the City for the security of the owners of the Bonds, including sinking funds and reserves for the payment of principal and interest on the Bonds and an adequate depreciation fund for those repairs, extensions and improvements to the System as may be necessary to assure adequate and efficient service to the public, all as provided by the Act.
SECTION 2. Sale of Bonds. The Bonds are expected to be sold at a private sale to the Clean Water State Revolving Fund, and may be issued and sold in installments as needed, all as provided for in the Act and other statutory authority.
SECTION 3. Public Hearing. This Governing Authority will meet in open and public session, on THURSDAY, MAY 2, 2019 at SIX O'CLOCK (6:00) P.M., at the Grambling City Hall, 127 King St., Grambling, Louisiana 71245, or at an earlier or later regular or special meeting of the Governing Authority to be determined by the Mayor, in consultation with bond counsel and duly advertised in the manner provided by law, to hear any objections to the proposed issuance of the Bonds; provided, however, if at such hearing a petition or petitions duly signed by the electors of the City in an aggregate number not less than five percent (5%) of the number of the electors of the City voting in the last election held in the City object to the issuance of the Bonds, then the Bonds shall not be issued until approved by a vote of a majority of the qualified electors of the City who vote at a special election held for that purpose in the manner provided by Chapter 6-A, Title 18 of the Louisiana Revised Statutes of 1950. Any such petition shall be accompanied by a certificate of the Lincoln Parish Registrar of Voters certifying that the signers of the petition are registered electors of the City and the number of signers amounts to not less than five percent (5%) of the registered voters that voted in the last election held in the City, all as provided by the Act.
SECTION 4. Notice of Intention. The City is hereby authorized, empowered and directed to publish an appropriate notice of the intention of the City to issue the Bonds in accordance with the provisions of this resolution and the Act. Such notice of intention shall be published in four (4) consecutive weekly issues of the official journal of the City or of a newspaper of general circulation on Lincoln Parish, and shall be in substantially the following form, with any such changes as may be necessary upon the advice of bond counsel:
* * * * *
NOTICE OF INTENTION TO ISSUE
NOT EXCEEDING $3,100,000 OF
TAXABLE UTILITIES REVENUE BONDS OF THE
CITY OF GRAMBLING, STATE OF LOUISIANA
As provided by a resolution adopted on May 2, 2019, by the Mayor and Council of the City of Grambling, State of Louisiana, acting as the governing authority of the City of Grambling, State of Louisiana (the "City"), the City HEREBY DECLARES ITS INTENTION to issue up to Three Million One Hundred Thousand Dollars ($3,100,000) of Taxable Utilities Revenue Bonds (the "Bonds"), for the purpose of paying the cost of making additions, extensions and improvements to the sewerage portion of the City's combined drinking water and wastewater collection, treatment and disposal system, including equipment and fixtures (the "System"), and to pay costs of issuance.
The Bonds will be limited and special revenue bonds of the City, secured by and payable solely from the revenues of the System, after there have been paid from those revenues the reasonable and necessary expenses of operating and maintaining the System, and the Bonds shall be issued on a complete parity with the City's outstanding (i) Utility Revenue Refunding Bonds, Series 2013, with a final maturity date of March 1, 2033, and (ii) Taxable Utility Revenue Bond, Series 2015, with a final maturity date of March 1, 2036. The Bonds will not be a charge on the other income and revenues of the City, nor shall they constitute an indebtedness or pledge of the general credit of the City. The Bonds will be issued pursuant to La. R.S. 39:524, Subpart A, Part II, Chapter 4, Title 39 of the Louisiana Revised Statutes of 1950, as amended (La. R.S. 39:501, et seq.), and other constitutional and statutory authority supplemental thereto (collectively, the "Act").
The Bonds will be issued and authorized by ordinance(s) adopted by the governing authority of the City, in one or more series, will mature up to twenty-two (22) years from their date of issuance, will bear interest at rates up to ninety-five hundredths of one per centum (0.95%) per annum, and will be subject to prepayment anytime without penalty. Proceeds of the Bonds may also be used to pay costs of issuance of the Bonds.
As provided by the Act, all of the other details of the Bonds will be set forth in the ordinance(s) authorizing their issuance, including the following: covenants relating to the management and operation of the System, the imposition and collection of rates and charges from the System's customers, the expenditure of such rates and charges, the issuance of future bonds and the creation of future liens and encumbrances against the System and all other pertinent matters as may be necessary to the authorization and issuance of the Bonds.
The Bonds are expected to be sold at a private sale, as provided for in the Act, to the Clean Water State Revolving Fund, and the Bonds will also be approved by the State Bond Commission prior to their delivery.
THE PUBLIC IS HEREBY NOTIFIED that the governing authority of the City will meet in open and public session on THURSDAY, MAY 2, 2019 at SIX O'CLOCK (6:00) P.M., at the Grambling City Hall, 127 King St., Grambling, Louisiana 71245, to hear any objections to the proposed issuance of the Bonds. If at such hearing a petition duly signed by electors of the City in a number not less than five percent (5%) of the number of such electors voting in the last election held in the City object to the issuance of the Bonds, then the Bonds shall not be issued until approved at an election held for that purpose. Any such petition must be accompanied by a certificate of the Lincoln Parish Registrar of Voters certifying that the signers of the petition(s) are registered electors of the City and the number of signers amounts to not less than five percent (5%) of the registered voters that voted in the last election held in the City, all as provided by the Act.
CITY OF GRAMBLING, STATE OF LOUISIANA
* * * * *
SECTION 5. State Bond Commission. Application is hereby made to the State Bond Commission, Baton Rouge, Louisiana, for approval of not to exceed $3,100,000 of Taxable Utilities Revenue Bond of the City, to mature on or before twenty-two (22) years from the date thereof and to bear interest at a rate not to exceed ninety-five hundredths of one per cent (0.95%) per annum, as described above. A certified copy of this resolution shall be submitted to the State Bond Commission, together with a request for prompt consideration and approval of this application.
By virtue of the Issuer's application for, acceptance and utilization of the benefits of the Louisiana State Bond Commission's approval(s) resolved and set forth herein, it resolves that the Issuer understands and agrees that such approval(s) are expressly conditioned upon, and it further resolves that it understands, agrees and binds itself, its successors and assigns, to full and continuing compliance with the "State Bond Commission Policy on Approval of Proposed Use of Swaps, or other forms of Derivative Products Hedges, Etc.", adopted by the State Bond Commission on July 20, 2006, as to the borrowing(s) and other matter(s) subject to the approval(s), including subsequent application and approval under said Policy of the implementation or use of any swap(s) or other product(s) or enhancement(s) covered thereby.
SECTION 6. Employment of Bond Counsel. The Governing Authority finds and determines that a real necessity exists for the employment of bond counsel in connection with the issuance of the Bonds, and accordingly McKee Law Firm, LLC, of New Orleans, Louisiana, is hereby employed as Bond Counsel to the City to do and perform comprehensive legal and co-ordinate professional work of a traditional legal nature with respect to the issuance and sale of the Bonds. Said Bond Counsel shall prepare and submit to this Governing Authority for adoption all of the proceedings incidental to the authorization, issuance, sale and delivery of the Bonds, shall counsel and advise this Governing Authority as to the issuance and sale thereof and shall furnish its opinion covering the legality of the issuance thereof.
The fee of Bond Counsel in connection with the issuance of the Bonds is hereby fixed at a sum not to exceed the fees provided by the Attorney General's Guidelines for Fees and Services of Bond Attorneys for comprehensive legal and coordinate professional work in the issuance of utility revenue bonds, said fee to be payable solely out of funds derived from the sale of the Bonds and to be contingent upon the issuance, sale and delivery thereof.
SECTION 7. Employment of Financial Advisor. Comer Capital Group, LLC of Jackson, Mississippi is hereby employed as financial advisor in connection of with the Bonds, any compensation to be paid from the proceeds of the Bonds and contingent upon issuance of the Bonds.
The foregoing resolution having been submitted to a vote, the vote thereon was as follows:
YEAS: Council members: Toby Bryan, Yanise Days, G. Denise Dupree, Cathy Holmes,
and Phyllis Miller

NAYS: None
ABSENT: None
This resolution was declared adopted on this, the 4th day of April, 2019.
/s/ Pamela J. Stringfellow /s/ Edward Jones
City Clerk Mayor
STATE OF LOUISIANA
PARISH OF LINCOLN
I, the undersigned City Clerk of the City of Grambling, State of Louisiana (the "City"), do hereby certify that the foregoing pages constitute a true and correct copy of a resolution adopted by said governing authority on April 4, 2019, declaring the intention of the City of Grambling, State of Louisiana, to issue Taxable Utilities Revenue Bonds in one or more series, in an amount not to exceed Three Million One Hundred Thousand Dollars ($3,100,000) for the purpose of paying a portion of the cost of constructing and acquiring additions, extensions and improvements to the sewerage portion of the City's combined drinking water and wastewater collection, treatment and disposal system of said City; and providing for other matters in connection therewith.
IN FAITH WHEREOF, witness my official signature and the impress of the official seal of the City at Grambling, Louisiana, on this, the 4th day of April, 2019.
(SEAL) /s/ Pamela Stringfellow
City Clerk
4td: April 9, 16, 23, 30, 2019

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