BV Challenger legals: 1/22
January 21. 2014 9:59AM
The regular meeting of the Brandon Valley Board of Education, Brandon, SD was held at 6:30 p.m. on the 13th of January, 2014 at the Brandon Valley High School Community Room with the following members present: Renee Ullom, Sue Hegland, Gregg Ode, Sandy Klatt, and Cary Schroeder. Absent: None. Also present were Superintendent David Pappone, Business Manager Paul J. Lundberg, High School Principal Gregg Talcott, Middle School Principal Brad Thorson, Brandon Elementary Principal Merle Horst, Robert Bennis Elementary Principal Karen Heyden, Valley Springs Elementary Principal Tanya Palmer, Director of Instruction Marge Hauser, and Operations Manager Ty Hentschel.
Renee Ullom called the meeting to order and opened with the Pledge of Allegiance.
Motion by Ode, seconded by Klatt to approve the agenda as presented. Motion carried.
Motion by Hegland, seconded by Schroeder to approve the minutes of the regular meeting of December 9, 2013 as presented. Motion carried.
Motion by Klatt, seconded by Schroeder to approve the bills and claims as submitted (see attached). Motion carried.
The cash report for the month of December, 2013 showed receipts of $8,922,092.92 and disbursements of $3,382,151.64 leaving a balance of $15,000,425.78. The General Fund had receipts of $1,890,171.07, and disbursements of $1,754,135.39, leaving a balance of $5,889,190.92. Capital Outlay Fund had receipts of $455,689.99 and disbursements of $111,188.89, leaving a balance of $1,983,681.93. Special Education Fund had receipts of $335,348.25 and disbursements $355,204.84, leaving a balance of $736,867.77. Pension Fund had receipts of $45,569.12 and disbursements of $0, leaving a balance of $483,343.42. Bond Redemption Fund had receipts of $241,977.74 and disbursements of $1,108,010.53, leaving a balance of $23,233.11. Enterprise Fund had receipts of $0 and disbursements of $0, leaving a balance of $14,384.38. Capital Projects Fund had receipts of $5,953,336.75 and disbursements of $53,612.50, leaving a balance of $5,899,724.25.
The December, 2013 payroll totaled $1,417,118.59, of which $599,223.85 was instructional, $472,393.45 was support services, $27,065.01 was co-curricular, $245,699.29 was Special Education, and $72,736.99 was Food Service.
Motion by Hegland, seconded by Ode to approve the financial reports as presented for the month of December 2013. Motion carried.
Administrative reports were heard. Superintendent Pappone recognized the School Board during this School Board Recognition Week and personally thanked the board for all they do to make the Brandon Valley School District the best! Secondly, Pappone offered a brief update on the Intermediate School. The Administrative team has been working diligently to finalize the floor plan and the site layout for the building and we are very close to having a finalized plan. Great progress is being made and the Architect assures us that we are on track for a March bid.
Business Manager Paul Lundberg presented the Standard & Poor's Rating on the Capital Outlay Certificate. We received a AA stable rating on these bonds as well as our General Obligation Bonds. This rating is very, very good, and reflects very well on the Brandon Valley School District. Lundberg requested that the board review this rating.
The following board policy was presented for a second reading at tonight's meeting: Policy CDB (Also EBD, GBBB, JFBB, KDB) - Wellness Policy. Motion by Klatt, seconded by Ode to approve the updated Policy CDB as presented. Motion carried.
Superintendent Pappone thanked Business Manager Lundberg and his staff on preparing a clean audit. Business Manager Paul Lundberg presented the Fiscal Year 2013 Audit Report prepared by Quam & Berglin, Certified Public Accounts. Motion by Schroeder, seconded by Klatt to accept the FY13 Audit Report as presented. Motion carried.
Business Manager Paul Lundberg presented the following Parameters Resolution pertaining to the District's issuance of Limited Tax Capital Outlay Certificates to fund the remaining portion of the costs for the 5-6 Intermediate School. Motion by Klatt to approve the following Resolution:
RESOLUTION AUTHORIZING THE EXECUTION, TERMS, ISSUANCE, SALE AND PAYMENT OF LIMITED TAX CAPITAL OUTLAY CERTIFICATES, SERIES 2014 IN THE AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED EIGHT MILLION TWO HUNDRED THOUSAND AND NO/100 DOLLARS ($8,200,000) OF THE BRANDON VALLEY SCHOOL DISTRICT NO. 49-2 OF MINNEHAHA COUNTY, SOUTH DAKOTA.
WHEREAS, the Brandon Valley School District No. 49-2 is authorized by the provisions of SDCL §13-16-6.2 to issue limited tax capital outlay certificates to fund the acquisition or construction of real property, plant and equipment; and
WHEREAS, the School Board has determined that is necessary and in the best interest of the School District to issue limited tax capital outlay certificates of the School District for the purpose of providing funds to (1) finance a portion of the costs of constructing, equipping and furnishing a grades 5-6 intermediate school and (2) pay the costs of issuing the Certificates.
NOW THEREFORE, BE IT RESOLVED BY THE SCHOOL BOARD OF THE BRANDON VALLEY SCHOOL DISTRICT NO. 49-2 OF MINNEHAHA COUNTY, AS FOLLOWS:
Section 1.1. Definition of Terms.
In addition to the words and terms elsewhere defined in this Resolution, the following words and terms as used herein, whether or not the words have initial capitals, shall have the following meanings, unless the context or use indicates another or different meaning or intent, and such definitions shall be equally applicable to both the singular and plural forms of any of the words and terms herein defined:
"Act" means collectively SDCL Chapter 6-8B and Title 13, as amended.
"Authorized Officer of the School District" means the President of the School Board and the Business Manager, or, in the case of any act to be performed or duty to be discharged, any other member, officer, or employee of the School District then authorized to perform such act or discharge such duty.
"Bond Counsel" means Meierhenry Sargent LLP, a firm of attorneys recognized as having experience in matters relating to the issuance of state or local governmental obligations.
"Book-Entry Form" or "Book-Entry System" means a form or system, as applicable, under which physical Certificate certificates in fully registered form are issued to a Depository or to its nominee as Registered Owner, with the certificated Certificates being held by and "immobilized" in the custody of such Depository, and under which records maintained by persons, other than the School District or the Registration Agent, constitute the written record that identifies, and records the transfer of the beneficial "book-entry" interests in those Certificates.
"Business Manager" means the Business Manager of the School District appointed pursuant to the provisions of South Dakota Codified Laws Title 13 or, in the absence of such appointment or in the event the person so appointed is unable or incapable of acting in such capacity, the person appointed by the School Board to perform the duties otherwise performed by the Business Manager, or his or her designee.
"Certificates" means not to exceed $8,200,000 in aggregate principal amount of Limited Tax Capital Outlay Certificates, Series 2014, dated Closing Date, or such other designation or date as shall be determined by the School Board pursuant to Section 8.1 hereof, authorized and issued under this Certificate Resolution.
"Certificate Payment Date" means each date on which interest, or both principal and interest, shall be payable on the Certificates so long as any of the Certificates shall be outstanding.
"Certificate Purchase Agreement" means the agreement between the School District and the Underwriter for the purchase of the Certificates.
"Certificate Resolution" means this Resolution, duly adopted by the School Board on the date hereof, as it may be amended from time to time.
"Certificateholder", "Holder" and "Registered Owner" means the registered owner of a Certificate, including any nominee of a Depository.
"Closing Date" means the date the Certificates are exchanged for value.
"Code" means the Internal Revenue Code of 1986, as amended, and the applicable regulations of the United States Department of Treasury promulgated thereunder as in effect on the date of issuance of the Certificates.
"Depository" means any securities depository that is a clearing agency under federal laws operating and maintaining, with its participants or otherwise, a Book-Entry System, including, but not limited to DTC.
"DTC" means the Depository Trust Company, a limited purpose company organized under the laws of the State of New York, and its successors and assigns.
"DTC Participant(s)" means securities brokers and dealers, banks, trust companies and clearing corporations that have access to the DTC system.
"District" means the Brandon Valley School District No. 49-2.
"Interest Payment Dates" means each February 1 and August 1 commencing August 1, 2014.
"Letter of Representation" means the Issuer Letter of Representations or Blanket Issuer Letter of Representations to DTC of the School District.
"Official Statement" and "Preliminary Official Statement" means that Official Statement and Preliminary Official Statement described in Section 8.2 hereof pertaining to the sale of the Certificates.
"Original Issue Discount or OID" means an amount by which the par value of a security exceeds it public offering price at the time of its original issuance.
"Original Issue Premium or OIP" means the amount by which the public offering price of a security at the time of its original issuance exceeds its par value.
"Outstanding," "Certificates Outstanding," or "Outstanding Certificates" means, as of a particular date all Certificates issued and delivered under this Resolution except: (1) any Certificates paid or redeemed or otherwise canceled by the School District at or before such date; (2) any Certificate for the payment of which cash, equal to the principal amount thereof with interest to date of maturity, shall have theretofore been deposited prior to maturity by the School District for the benefit of the Owner thereof; (3) any Certificate for the redemption of which cash, equal to the redemption price thereof with interest to the redemption date, shall have theretofore been deposited with the Registration Agent and for which notice of redemption shall have been mailed in accordance with this Resolution; (4) any Certificate in lieu of or in substitution for which another Certificate shall have been delivered pursuant to this Resolution, unless proof satisfactory to the School District is presented that any Certificate, for which a Certificate in lieu of or in substitution therefor shall have been delivered, is held by a bona fide Underwriter, as that term is defined in Article 8 of the Uniform Commercial Code of the State, as amended, in which case both the Certificate in lieu of or in substitution for which a new Certificate has been delivered and such new Certificate so delivered therefor shall be deemed Outstanding; and, (5) any Certificate deemed paid under the provisions of Article VII of this Resolution, except that any such Certificate shall be considered Outstanding until the maturity or redemption date thereof only for the purposes of being exchanged, transferred, or registered.
"Person" means an individual, partnership, corporation, trust, or unincorporated organization, or a governmental entity or agency or political subdivision thereof.
"President" means the president of the School Board elected pursuant to the provisions of SDCL Chapter 13-8 or his or her designee acting on his or her behalf.
"Project" means the construction, equipping and furnishing of a grades 5-6 intermediate school.
"Purchase Agreement" means the Certificate Purchase Agreement authorized pursuant to and described in Section 8.1 hereof by and between the School District and the Underwriter.
"Rating Agency" means Moody's Investors Services, Standard & Poor's Financial Services LLC and Fitch Ratings LTD.
"Record Date" means the fifteenth day (whether or not a business day) of the calendar month next preceding an interest payment date.
"Registration Agent" means the Business Manager or any Registration Agent appointed by the Business Manager its successor or successors hereafter appointed in the manner provided in Article VI hereof.
"Resolution" means this Certificate Resolution.
"Schedule" the schedule which indicates the principal and interest payments on the Certificates.
"School Board" means the School Board of the School District elected pursuant to the provisions of the SDCL Title 13.
"School District" means the Brandon Valley School District No. 49-2.
"Underwriter" means D.A. Davidson & Co., Omaha, Nebraska acting for and on behalf of itself and such securities dealers as it may designate.
"Vice-President" means the Vice-President of the School Board who may act for the president in the absence of the President.
Section 1.2. References to Resolution.
The words "hereof", "herein", "hereunder", and other words of similar import refer to this Certificate Resolution as a whole.
Section 1.3. References to Articles, Sections, Etc.
References to Articles, Sections, and other subdivisions of this Resolution are to the designated Articles, Sections, and other subdivisions of this Resolution as originally adopted.
Section 1.4. Headings.
The headings of this Resolution are for convenience only and shall not define or limit the provisions hereof.
It is hereby found and determined by the School Board as follows:
(a) The principal amount of the Certificates does not exceed one and one half percent (1 1/2%) of the assessed valuation of the District;
(b) The District has developed and maintained a five-year plan on the annual projected revenues and annual projected expenditures for the capital outlay fund;
(c) The School District hereby determines that all limitations upon the issuance of Certificates have been met and the Certificates are being authorized, issued and sold in accordance with the provisions of the Act and this Resolution.
AUTHORITY, PLEDGE, AND LEVY
Section 3.1. Authority.
In order to (i) fund the acquisition and construction of the Project and (ii) pay costs incident to the sale and issuance of the Certificates, there shall be issued pursuant to, and in accordance with, the provisions of the Act, this Resolution, and other applicable provisions of law Limited Tax Capital Outlay Certificates, Series 2014 of the School District in the aggregate principal amount of not to exceed $8,200,000.
Section 3.2. Pledge.
The taxing powers, not to exceed three dollars per thousand of taxable valuation, of the School District shall be and they are hereby irrevocably pledged to the prompt and full payment of the principal of and interest on each and all of the Certificates as such principal and interest respectively become due. Pursuant to SDCL § 13-16-10, the School District does hereby pledge and provide for an annual tax sufficient to pay principal and interest on the Certificates when due.
Section 3.3. Levy of Taxes.
The District does hereby provide for an annual levy, not to exceed three dollars per thousand of the taxable valuation of the School District, to produce collected taxes, taking into consideration an amount necessary to provide for delinquencies, reasonable reserve and mandatory early redemption, to pay principal and interest on the Certificates when due. The Business Manager is directed to provide the County Auditor of Minnehaha County with the Schedule. The Schedule is made a part of this Resolution as if stated in full and shall be open to public inspection at the office of the Business Manager. Said levies shall be irrepealable so long as any of the Certificates or interest thereon shall remain unpaid, except that the School Board of the District and the Auditor shall have the power to reduce the levy as provided by SDCL §13-16-11.
FORM, TERMS, EXECUTION, AND TRANSFER OF CERTIFICATES
Section 4.1. Authorized Certificates.
The aggregate principal amount of Certificates that may be issued under this Certificate Resolution shall not exceed Eight Million Two Hundred Thousand Dollars ($8,200,000).
Section 4.2. Form of Certificates; Execution.
(a) The Certificates are issuable only as fully registered Certificates, without coupons, in any denomination and one single Certificate may represent installments of principal maturing on more than one date. All Certificates issued under this Resolution shall be substantially in the form set forth in Exhibit A attached hereto, and by this reference incorporated herein as fully as though copied.
(b) The Certificates shall be executed in such manner as may be prescribed by applicable law in the name and on behalf of the School District with the manual or facsimile signature of the President of the School Board, attested by the manual or facsimile signature of the Business Manager, and approved as to form and countersigned by a Resident Attorney by his manual or facsimile signature.
(c) In the event any officer whose manual or facsimile signature shall appear on any Certificate shall cease to be such officer before the delivery of such Certificates, such manual or such facsimile signature shall nevertheless be valid and sufficient for all purposes as if he or she had remained in office until such delivery. Any Certificate may bear the facsimile signature of, or may be manually signed by, such individuals who, at the actual time of the execution of such Certificate, were the proper officers of the School District to sign such Certificates, although on the date of the adoption by the School District of this Resolution, such individuals may not have been such officers.
Section 4.3. Maturities, Interest Rates, and Certain Other Provisions of Certificates.
(a) The Certificates shall become due and payable as set forth in the Certificate Purchase Agreement. The Certificates may be sold with O.I.P. and/or O.I.D
(c) The Certificates shall be designated "Limited Tax Capital Outlay Certificates, Series 2014," or such other designation as shall be determined by the School Board pursuant to Section 8.1 hereof. The Certificates shall bear interest from their date or from the most recent interest payment date to which interest has been paid or duly provided for, until the principal amount of the Certificates is paid, such interest (computed upon the basis of a 360-day year of twelve 30-day months) being payable on Interest Payment Dates. Interest on each Certificate shall be paid by wire transfer, check or draft of the Paying Agent, payable in lawful money of the United States of America, to the person in whose name such Certificate is registered at the close of business on the Record Date. The principal of the Certificates shall be payable in lawful money of the United States of America at the principal office of the Paying Agent on the Certificate Payment Date. Each Certificate shall state that it is issued pursuant to SDCL 6-8B.
(d) The Registration Agent shall make all interest payments with respect to the Certificates on each interest payment date directly to the registered owners as shown on the Certificate registration records maintained by the Registration Agent as of the close of business on the Record Date by wire transfer, check or draft mailed to such owners at their addresses shown on said Certificate registration records, without, except for final payment, the presentation or surrender of such registered Certificates, and all such payments shall discharge the obligations of the School District in respect of such Certificates to the extent of the payments so made. Payment of principal of and premium, if any, on the Certificates shall be made upon presentation and surrender of such Certificates to the Registration Agent as the same shall become due and payable.
Section 4.4. Negotiability of Certificates.
All Certificates issued under this Resolution shall be negotiable, subject to the provisions for registration and transfer contained in this Resolution and in the Certificates.
Section 4.5. Registration, Transfer and Exchange of Certificates.
(a) The Certificates are transferable only by presentation to the Registration Agent by the registered owner, or his legal representative duly authorized in writing, of the registered Certificate(s) to be transferred with the form of assignment on the reverse side thereof completed in full and signed with the name of the registered owner as it appears upon the face of the Certificate(s) accompanied by appropriate documentation necessary to prove the legal capacity of any legal representative of the registered owner. Upon receipt of the Certificate(s) in such form and with such documentation, if any, the Registration Agent shall issue a new Certificate or Certificates to the assignee(s) in $5,000 denominations, or integral multiples thereof, as requested by the registered owner requesting transfer. The Registration Agent shall not be required to transfer or exchange any Certificate during the period commencing on a Record Date and ending on the corresponding interest payment date of such Certificate, nor to transfer or exchange any Certificate after the publication of notice calling such Certificate for redemption has been made, nor to transfer or exchange any Certificate during the period following the receipt of instructions from the School District to call such Certificate for redemption; provided, the Registration Agent, at its option, may make transfers after any of said dates. No charge shall be made to any registered owner for the privilege of transferring any Certificates, provided that any transfer tax relating to such transaction shall be paid by the registered owner requesting transfer. The person in whose name any Certificate shall be registered shall be deemed and regarded as the absolute owner thereof for all purposes and neither the School District nor the Registration Agent shall be affected by any notice to the contrary whether or not any payments due on the Certificates shall be overdue. Certificates, upon surrender to the Registration Agent, may, at the option of the registered owner, be exchanged for an equal aggregate principal amount of Certificates of the same maturity in any authorized denomination or denominations.
(b) Except as otherwise provided in this subsection, the Certificates shall be registered in the name of Cede & Co., as nominee of DTC, which will act as securities depository for the Certificates. References in this Section to a Certificate or the Certificates shall be construed to mean the Certificate or the Certificates that are held under the Book-Entry System. One Certificate for each maturity shall be issued to DTC and immobilized in its custody. Unless otherwise provided herein, a Book-Entry System shall be employed, evidencing ownership of the Certificates in authorized denominations, with transfers of beneficial ownership effected on the records of DTC and the DTC Participants pursuant to rules and procedures established by DTC.
Each DTC Participant shall be credited in the records of DTC with the amount of such DTC Participant's interest in the Certificates. Beneficial ownership interests in the Certificates may be purchased by or through DTC Participants. The holders of these beneficial ownership interests are herein referred to as the "Beneficial Owners." The Beneficial Owners shall not receive the Certificates representing their beneficial ownership interests. The ownership interests of each Beneficial Owner shall be recorded through the records of the DTC Participant from which such Beneficial Owner purchased its Certificates. Transfers of ownership interests in the Certificates shall be accomplished by book entries made by DTC and, in turn, by DTC Participants acting on behalf of Beneficial Owners. SO LONG AS CEDE & CO., AS NOMINEE FOR DTC, IS THE REGISTERED OWNER OF THE CERTIFICATES, THE REGISTRATION AGENT SHALL TREAT CEDE & CO., AS THE ONLY HOLDER OF THE CERTIFICATES FOR ALL PURPOSES UNDER THIS RESOLUTION, INCLUDING RECEIPT OF ALL PRINCIPAL OF, PREMIUM, IF ANY, AND INTEREST ON THE CERTIFICATES, RECEIPT OF NOTICES, VOTING AND REQUESTING OR DIRECTING THE REGISTRATION AGENT TO TAKE OR NOT TO TAKE, OR CONSENTING TO, CERTAIN ACTIONS UNDER THIS CERTIFICATE RESOLUTION.
Payments of principal, interest, and redemption premium, if any, with respect to the Certificates, so long as DTC is the only owner of the Certificates, shall be paid by the Registration Agent directly to DTC or its nominee, Cede & Co., as provided in the Letter of Representation. DTC shall remit such payments to DTC Participants, and such payments thereafter shall be paid by DTC Participants to the Beneficial Owners. Neither the School District nor the Registration Agent shall be responsible or liable for payment by DTC or DTC Participants, for sending transaction statements or for maintaining, supervising or reviewing records maintained by DTC or DTC Participants.
In the event that (1) DTC determines not to continue to act as securities depository for the Certificates or (2) the School District determines that the continuation of the Book-Entry System of evidence and transfer of ownership of the Certificates would adversely affect their interests or the interests of the Beneficial Owners of the Certificates, the School District may discontinue the Book-Entry System with DTC. If the School District fails to identify another qualified securities depository to replace DTC, the School District shall cause the Registration Agent to authenticate and deliver replacement Certificates in the form of fully registered Certificates to each Beneficial Owner.
NEITHER THE SCHOOL DISTRICT NOR THE REGISTRATION AGENT SHALL HAVE ANY RESPONSIBILITY OR OBLIGATIONS TO ANY DTC PARTICIPANT OR ANY BENEFICIAL OWNER WITH RESPECT TO (i) THE CERTIFICATES; (ii) THE ACCURACY OF ANY RECORDS MAINTAINED BY DTC OR ANY DTC PARTICIPANT; (iii) THE PAYMENT BY DTC OR ANY DTC PARTICIPANT OF ANY AMOUNT DUE TO ANY BENEFICIAL OWNER IN RESPECT OF THE PRINCIPAL OF AND INTEREST ON THE CERTIFICATES; (iv) THE DELIVERY OR TIMELINESS OF DELIVERY BY DTC OR ANY DTC PARTICIPANT OF ANY NOTICE DUE TO ANY BENEFICIAL OWNER THAT IS REQUIRED OR PERMITTED UNDER THE TERMS OF THIS CERTIFICATE RESOLUTION TO BE GIVEN TO BENEFICIAL OWNERS, (v) THE SELECTION OF BENEFICIAL OWNERS TO RECEIVE PAYMENTS IN THE EVENT OF ANY PARTIAL REDEMPTION OF THE CERTIFICATES; OR (vi) ANY CONSENT GIVEN OR OTHER ACTION TAKEN BY DTC, OR ITS NOMINEE, CEDE & CO., AS OWNER.
SO LONG AS A BOOK-ENTRY SYSTEM OF EVIDENCE OF TRANSFER OF OWNERSHIP OF ALL THE CERTIFICATES IS MAINTAINED IN ACCORDANCE HEREWITH, THE PROVISIONS OF THIS RESOLUTION RELATING TO THE DELIVERY OF PHYSICAL CERTIFICATE CERTIFICATES SHALL BE DEEMED INAPPLICABLE OR BE OTHERWISE SO CONSTRUED AS TO GIVE FULL EFFECT TO SUCH BOOK-ENTRY SYSTEM. IF THE PROVISIONS OF THE LETTER OF REPRESENTATION SHALL BE IN CONFLICT WITH THE PROVISIONS OF THIS RESOLUTION AS SAID PROVISIONS RELATE TO DTC, THE PROVISIONS OF THE LETTER OF REPRESENTATION SHALL CONTROL.
Section 4.6. Mutilated, Lost, Stolen, or Destroyed Certificates.
(a) In the event any Certificate is mutilated, lost, stolen, or destroyed, the School District may execute, and upon the request of an Authorized Officer of the School District the Registration Agent shall authenticate and deliver, a new Certificate of like maturity, interest rate, and principal amount, and bearing the same number (but with appropriate designation indicating that such new Certificate is a replacement Certificate) as the mutilated, destroyed, lost, or stolen Certificate, in exchange for the mutilated Certificate or in substitution for the Certificate so destroyed, lost, or stolen. In every case of exchange or substitution, the Certificateholder shall furnish to the School District and the Registration Agent: (1) such security or indemnity as may be required by them to save each of them harmless from all risks, however remote; and, (2) evidence to their satisfaction of the mutilation, destruction, loss, or theft of the subject Certificate and the ownership thereof. Upon the issuance of any Certificate upon such exchange or substitution, the School District and the Registration Agent may require the Owner thereof to pay a sum sufficient to defray any tax or other governmental charge that may be imposed in relation thereto and any other expenses, including printing costs and counsel fees, of the School District and the Registration Agent. In the event any Certificate which has matured or is about to mature shall become mutilated or be destroyed, lost, or stolen, the School District may, instead of issuing a Certificate in exchange or substitution therefor, pay or authorize the payment of the same (without surrender thereof except in the case of a mutilated Certificate) if the Owner thereof shall pay all costs and expenses, including attorney's fees, incurred by the School District and the Registration Agent in connection herewith, as well as a sum sufficient to defray any tax or other governmental charge that may be imposed in relation thereto and shall furnish to the School District and the Registration Agent such security or indemnity as they may require to save them harmless and evidence to the satisfaction of the School District and the Registration Agent the mutilation, destruction, loss, or theft of such Certificate and of the ownership thereof.
(b) Every Certificate issued pursuant to the provisions of this section shall constitute an additional contractual obligation of the School District (whether or not the destroyed, lost, or stolen Certificate shall be found at any time to be enforceable) and shall be entitled to all the benefits of this Resolution equally and proportionately with any and all other Certificates duly issued under this Resolution.
(c) All Certificates shall be held and owned upon the express condition that the provisions of this Section are exclusive, with respect to the replacement or payment of mutilated, destroyed, lost, or stolen Certificates, and, to the maximum extent legally permissible, shall preclude all other rights or remedies, notwithstanding any law or statute now existing or hereafter enacted to the contrary.
Section 4.7. Authentication.
The Registration Agent is hereby authorized to authenticate and deliver the Certificates to the Underwriter or as it may designate upon receipt by the School District of the proceeds of the sale thereof, to authenticate and deliver Certificates in exchange for Certificates of the same principal amount delivered for transfer upon receipt of the Certificate(s) to be transferred in proper form with proper documentation as hereinabove described. The Certificates shall not be valid for any purpose unless authenticated by the Registration Agent by the manual signature of an officer thereof on the certificate set forth herein on the Certificate form.
Section 4.8. Qualification for DTC.
The Registration Agent is hereby authorized to take such actions as may be necessary from time to time to qualify and maintain the Certificates for deposit with DTC, including but not limited to, wire transfers of interest and principal payments with respect to the Certificates, utilization of electronic book entry data received from DTC in place of actual delivery of Certificates and provision of notices with respect to Certificates registered by the DTC (or any of its designees identified to the Registration Agent) by overnight delivery, courier service, telegram, telecopy or other similar means of communication. No such arrangements with DTC may adversely affect the interest of any of the Owners of the Certificates, provided, however, that the Registration Agent shall not be liable with respect to any such arrangements it may make pursuant to this section.
Section 4.9. Rating Agency.
The District may authorize the retention of a Rating Agency to rate the Certificates.
Section 4.10. Underwriter.
The District has retained D. A. Davidson & Co. as Underwriter.
Section 4.10. Bond Counsel.
The District has retained Meierhenry Sargent LLP as Bond Counsel.
REDEMPTION OF CERTIFICATES PRIOR TO MATURITY
Section 5.1. Redemption.
The Certificates shall be redeemable as set forth in the Certificate Purchase Agreement.
Section 5.2. Notice of Redemption.
(a) Notice of call for redemption, whether optional or mandatory, shall be given by the Registration Agent on behalf of the District not less than thirty (30) nor more than sixty (60) days prior to the date fixed for redemption by sending an appropriate notice to the registered owners of the Certificates to be redeemed by first-class mail, postage prepaid, at the addresses shown on the Bond registration records of the Registration Agent as of the date of the notice; but neither failure to mail such notice nor any defect in any such notice so mailed shall affect the sufficiency of the proceedings for redemption of any of the Certificates for which proper notice was given. The Registration Agent shall mail said notices, in the case of mandatory redemption of term Certificates, as and when provided herein and in the Certificates, and, in the case of optional redemption, as and when directed by the District pursuant to written instructions from an Authorized Representative of the District given at least forty-five (45) days prior to the redemption date (unless a shorter notice period shall be satisfactory to the Registration Agent).
(b) Each notice required by this Section shall state: (1) the Certificates to be redeemed identified by CUSIP number and called amounts of each bond (for partial calls), date of issue, interest rate, and maturity date; (2) the date fixed for redemption; (3) that such Certificates will be redeemed at the principal corporate trust office of the Registration Agent; (4) the redemption price to be paid; and, (5) that from and after the redemption date interest thereon shall cease to accrue. If at the time of notice of optional redemption, the District shall not have deposited with the Registration Agent monies sufficient to redeem all the Certificates called for optional redemption, such notice may state that it is conditional, that is, subject to the deposit of the redemption monies with the Registration Agent not later than the opening of business on the redemption date, and such notice shall be of no effect unless monies are so deposited.
Section 5.3. Payment of Redeemed Certificates.
(a) If notice of redemption shall have been given in the manner and under the conditions provided in Section 5.2 hereof and if on the date so designated for redemption the Registration Agent shall hold sufficient monies to pay the redemption price of, and interest to the redemption date on, the Certificates to be redeemed as provided in this Resolution, then: (1) the Certificates so called for redemption shall become and be due and payable at the redemption price provided for redemption of such Certificates on such date; (2) interest on the Certificates so called for redemption shall cease to accrue; and, (3) such Certificates shall no longer be Outstanding or secured by, or be entitled to, the benefits of this Resolution, except to receive payment of the redemption price thereof and interest thereon from monies then held by the Registration Agent.
(b) If on the redemption date, monies for the redemption of all Certificates or portions thereof to be redeemed, together with interest thereon to the redemption date, shall not be held by the Registration Agent so as to be available therefor on such date, the Certificates or portions thereof so called for redemption shall continue to bear interest until paid at the same rate as they would have borne had they not been called for redemption and shall continue to be secured by and be entitled to the benefits of this Resolution.
Section 6.1. Appointment and Acceptance of Duties.
(a) The School District hereby authorizes the Business Manager to appoint the Registration Agent with respect to the Certificates and authorizes and directs the Registration Agent to maintain Certificate registration records with respect to the Certificates, to authenticate and deliver the Certificates as provided herein, either at original issuance, upon transfer, or as otherwise directed by the School District, to effect transfers of the Certificates, to give all notices of redemption as required herein, to make all payments of principal and interest with respect to the Certificates as provided herein, to cancel and destroy Certificates which have been paid at maturity or upon earlier redemption or submitted for exchange or transfer, to furnish the School District at least annually a certificate of destruction with respect to Certificates canceled and destroyed, and to furnish the School District at least annually an audit confirmation of Certificates paid, Certificates Outstanding and payments made with respect to interest on the Certificates. The President and the Business Manager, or either of them is hereby authorized to execute and the Business Manager is hereby authorized to attest such written agreement between the School District and the Registration Agent as they shall deem necessary or proper with respect to the obligations, duties and rights of the Registration Agent. The payment of all reasonable fees and expenses of the Registration Agent for the discharge of its duties and obligations hereunder or under any such agreement is hereby authorized and directed.
Section 6.2. Permitted Acts and Functions.
The Registration Agent may become the Owner of any Certificates, with the same rights as it would have if it were not a Registration Agent. The Registration Agent may act as a purchaser or fiscal agent in connection with the sale of the Certificates or of any other securities offered or issued by the School District.
Section 6.3. Resignation or Removal of the Registration Agent and Appointment of Successors.
(a) The Registration Agent may at any time resign and be discharged of the duties and obligations created by this Resolution by giving at least sixty (60) calendar days' written notice to the Business Manager. The Registration Agent may be removed at any time by the Business Manager, provided that such removal does not constitute a breach of any contractual agreement with any such Registration Agent, by filing written notice of such removal with such Registration Agent. Any successor Registration Agent shall be appointed by the Business Manager and shall be a trust company or a bank having the powers of a trust company, having a combined capital, surplus, and undivided profits aggregating at least Seventy-Five Million Dollars ($75,000,000), willing to accept the office of Registration Agent on reasonable and customary terms and authorized by law to perform all the duties imposed upon it by this Resolution.
(b) In the event of the resignation or removal of the Registration Agent, such Registration Agent shall pay over, assign and deliver any monies and securities held by it as Registration Agent, and all books and records and other properties held by it as Registration Agent, to its successor, or if there be no successor then appointed, to the Business Manager until such successor be appointed.
Section 6.4. Merger or Consolidation of Registration Agent.
Any corporation or association into which the Registration Agent may be converted or merged, or with which it may be consolidated, or to which it may sell or transfer its trust business and assets as a whole, or substantially as a whole, or any corporation or association resulting from any such conversion, sale, merger, consolidation, or transfer to which it is a party shall be and become successor Registration Agent hereunder and shall be vested with all the trusts, powers, discretion, immunities, privileges, and other matters as was its predecessor, without the execution or filing of any instrument or any further act, deed, or conveyance on the part of any of the parties hereto, anything herein contained to the contrary notwithstanding. Upon any such conversion, merger, consolidation, sale or transfer, the Business Manager shall have the right and option, upon notice to such converted, merged, consolidated or acquiring entity, to remove such entity and appoint a successor thereto pursuant to the procedures and requirements set forth in Section 6.3 hereof.
This Resolution authorizing the issuance of the Certificates permits the issuance of additional capital outlay certificates payable from the Capital Outlay Fund of the District, provided that the School Board first determines that a Capital Outlay Fund tax levy of not more than $3 per $1,000 of assessed valuation will afford debt service coverage for all outstanding Capital Outlay Certificates, plus the additional capital outlay certificates proposed to be issued, of at least 1.25 times. The property tax levy for any such additional certificates, together with the levy for then all outstanding Capital Outlay Certificates described herein and any other Capital Outlay Fund purposes, would be limited to $3 per $1,000 in total. Such additional certificates would have a parity claim with all the then outstanding Capital Outlay Certificates against property tax revenues received into the Capital Outlay Fund of the District.
SALE OF CERTIFICATES, DEPOSIT OF PROCEEDS AND TAX MATTERS
Section 8.1. Sale of Certificates.
The Certificates shall be sold to the Underwriter at a price to be set forth in the Certificate Purchase Agreement. The President and the Business Manager, or either of them, are authorized to make such changes in the structuring of the terms and sale of the Certificates as they shall deem necessary. The form of the Certificate set forth in Exhibit A attached hereto shall be conformed to reflect any changes, if any, as hereinbefore mentioned. The President and the Business Manager, or either of them, are hereby authorized to execute and the Business Manager is authorized to attest the Certificate Purchase Agreement with the Underwriter providing for the purchase and sale of the Certificates. The Certificate Purchase Agreement shall be in form and content acceptable to the President and Business Manager, the execution thereof by either of them to constitute conclusive evidence thereof; provided the Certificate Purchase Agreement effects the sale of the Certificates in accordance with the provisions of this Resolution, and is not inconsistent with the terms hereof. The President and the Business Manager are authorized to cause the Certificates to be authenticated and delivered by the Registration Agent to the Underwriter and to execute, publish, and deliver all certificates and documents, including the Official Statement, and closing certificates and documents, as they shall deem necessary in connection with the sale and delivery of the Certificates.
Section 8.2. Official Statement.
The President, Business Manager, and the Underwriter are hereby authorized and directed to provide for the preparation and distribution of a Preliminary Official Statement describing the Certificates (the "Preliminary Official Statement"). After the Certificates have been sold, the President and Business Manager shall make such completions, omissions, insertions and changes in the Preliminary Official Statement not inconsistent with this Resolution as are necessary or desirable to complete it as a final Official Statement for purposes of Rule 15c2-12(e)(3) of the Securities and Exchange Commission.
To comply with paragraph (b) (3) of Rule 15c2 12 of the Securities and Exchange Commission under the Securities Exchange Act of 1934 (the "Rule") and with Rule G 32 and all other applicable rules of the Municipal Securities Rulemaking Board, the School District agrees to deliver to the Underwriter, the Official Statement (which shall be a final official statement, as such term is defined in the Rule, as of its date) in an electronic format as prescribed by the MSRB.
Section 8.3. Disposition of Certificate Proceeds.
The proceeds of the sale of the Certificates shall be deposited in the Capital Outlay Fund and shall be used to provide funds to: (1) finance a portion of the costs of constructing, equipping and furnishing a grades 5-6 intermediate school and (2) pay the costs of issuing the Certificates.
Section 8.4. Tax Matters.
(a) The School District covenants and agrees with the registered owners from time to time of the Certificates that it will not take or permit to be taken by any of its officers, employees or agents any action which would cause the interest on the Certificates to become includable in gross income for federal income tax purposes under the Code and applicable Treasury Regulations (the "Regulations"), and covenants to take any and all actions within its powers to ensure that the basic interest on the Certificates will not become includable in gross income for federal income tax purposes under the Code and the Regulations.
(b) The President and the Business Manager, being the officers of the District charged with the responsibility for issuing the Certificates pursuant to this Resolution are hereby authorized and directed to execute and deliver to the Underwriter thereof a certificate in accordance with the provisions of Section 148 of the Code, and Section 1.148-2(b) of the Regulations, stating that on the basis of facts, estimates and circumstances in existence on the date of issue and delivery of the Certificates, it is reasonably expected that the proceeds of the Certificates will be used in a manner that would not cause the Certificates to be "arbitrage bonds" within the meaning of Section 148 of the Code and the Regulations.
(c) The District further certifies and covenants as follows with respect to the requirements of Section 148 of the Code that the District reasonably expects, as of the Closing Date, that the aggregate face amount of all tax exempt bonds (other than private activity bonds) issued by it and all subordinate entities during the calendar year of 2014 will not exceed $15,000,000.
(d) The District shall file with the Secretary of the Treasury a statement concerning the Certificates containing the information required by Section 149(e) of the Code.
(e) Pursuant to Section 265(b)(3)(B)(ii) of the Code, the District hereby designates the Certificates as "qualified tax-exempt obligations" for purposes of Section 265(b)(3) of the Code. The District hereby represents that it does not anticipate that obligations bearing interest not includable in gross income for purposes of federal income taxation under Section 103 of the Code (including refunding obligations as provided in Section 265 (b) (3) of the Code and including "qualified 501 (c) (3) bonds" but excluding other "private activity bonds," as defined in Sections 141(a) and 145(a) of the Code) will be issued by or on behalf of the District and all "subordinate entities" of the District in 2014 in an amount greater than $10,000,000.
Section 9.1. Failure to Present Certificates.
(a) Subject to the provisions of Section 4.6 hereof, in the event any Certificate shall not be presented for payment when the principal or redemption price hereof becomes due, either at maturity or at the date fixed for prior redemption thereof or otherwise, and in the event monies sufficient to pay such Certificate shall be held by the Registration Agent for the benefit of the Owner thereof, all liability of the School District to such Owner for the payment of such Certificate shall forthwith cease, determine, and be completely discharged. Whereupon, the Registration Agent shall hold such monies, without liability for interest thereon, for the benefit of the Owner of such Certificate who shall thereafter be restricted exclusively to such monies for any claim under this Resolution or on, or with respect to, said Certificates.
(b) If any Certificate shall not be presented for payment within a period of six years following the date when such Certificate becomes due, whether by maturity or otherwise, the Registration Agent shall, subject to the provisions of any applicable escheat or other similar law, pay to the School District any monies then held by the Registration Agent for the payment of such Certificate and such Certificate shall (subject to the defense of any applicable statute of limitation) thereafter constitute an unsecured obligation of the School District.
Section 9.2. Payments Due on Saturdays, Sundays, and Holidays.
In any case where the date of maturity or interest on or principal of any Certificates, or the date fixed for redemption of any Certificates, shall be a Saturday or Sunday or shall be, at the place designated for payment, a legal holiday or a day on which banking institutions similar to the Registration Agent are authorized by law to close, then the payment of the interest on, or the principal, or the redemption price of, such Certificate need not be made on such date but must be made on the next succeeding day not a Saturday, Sunday, or a legal holiday or a day upon which banking institutions similar to the Registration Agent are authorized by law to close, with the same force and effect as if made on the date of maturity or the date fixed for redemption, and no interest shall accrue for the period after such date.
Section 9.3. Miscellaneous Acts.
The appropriate officers of the School District are hereby authorized, empowered, and directed to do any and all such acts and things, and to execute, acknowledge, deliver, and, if applicable file or record, or cause to be filed or recorded, in any appropriate public offices, all such documents, instruments, and certifications, in addition to those acts, things, documents, instruments, and certifications hereinbefore authorized and approved, as may, in their discretion, be necessary or desirable to implement or comply with the intent of this Resolution, or any of the documents herein authorized and approved, or for the authorization, issuance, and delivery by the School District of the Certificates.
Section 9.4. Amendment.
The School Board is hereby authorized to make such amendments to this Resolution as will not impair the rights of the Certificateholders.
Section 9.5. No Recourse Under Certificate Resolution or on Certificates.
All stipulations, promises, agreements, and obligations of the School District contained in this Resolution shall be deemed to be the stipulations, promises, agreements, and obligations of the School District and not of any officer, director, or employee of the School District in his or her individual capacity, and no recourse shall be had for the payment of the principal of or interest on the Certificates or for any claim based thereon or this Resolution against any officer, director, or employee of the School District or against any official or individual executing the Certificates.
Section 9.6. Partial Invalidity.
If any one or more of the provisions of this Resolution, or of any exhibit or attachment thereto, shall be held invalid, illegal, or unenforceable in any respect, by final decree of any court of lawful jurisdiction, such invalidity, illegality, or unenforceability shall not affect any other provision hereof, or of any exhibit or attachment thereto, but this Resolution, and the exhibits and attachments thereto, shall be construed the same as if such invalid, illegal, or unenforceable provision had never been contained herein, or therein, as the case may be.
Section 9.7. Continuing Disclosure.
The School District hereby covenants and agrees that it will provide financial information and material event notices as required by Rule 15c2-12 of the Securities Exchange Commission for the Certificates. The President is authorized to execute at the Closing of the sale of the Certificates, an agreement for the benefit of and enforceable by the owners of the Certificates specifying the details of the financial information and material event notices to be provided and its obligations relating thereto. Failure of the School District to comply with the undertaking herein described and to be detailed in said closing agreement, shall not be a default hereunder, but any such failure shall entitle the owner or owners of any of the Certificates to take such actions and to initiate such proceedings as shall be necessary and appropriate to cause the School District to comply with its undertaking as set forth herein and in said agreement, including the remedies of mandamus and specific performance. The President is authorized to execute any amendments as he or she deems necessary to comply with any rules of regulations adopted by the SEC.
Section 9.8. Conflicting Resolutions Repealed.
All resolutions or parts thereof in conflict herewith are, to the extent of such conflict, hereby repealed.
Section 9.9. Post Issuance Compliance.
The School District does hereby adopt Meierhenry Sargent Post Issuance Compliance Manual procedures with regard to the Certificates. The School District appoints the Business Manager as the chief compliance officer.
Section 9.10. Effective Date.
This Resolution shall take effect from and after its adoption, the welfare of the School District requiring it.
Said motion was seconded by Member Schroeder and upon vote being taken the following voted AYE: Klatt, Schroeder, Hegland, Ode, and Ullom; and the following voted NAY: None.
EXHIBIT A- (FORM OF
UNITED STATES OF AMERICA
STATE OF SOUTH DAKOTA
BRANDON VALLEY SCHOOL DISTRICT NO. 49-2
LIMITED TAX CAPITAL OUTLAY CERTIFICATES, SERIES 2014
REGISTERED No., REGISTERED $.00
Interest Rate, Maturity Date, Certificate Date, CUSIP No.
%, -, -, 2014, -
Registered Owner: Cede & Co., 55 Water Street, 1st Floor, New York, New York 10041, Tax ID #13-2555119
Principal Amount: AND NO\100 DOLLARS
REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THE CERTIFICATE SET FORTH ON THE FOLLOWING PAGES, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE.
It is hereby certified and recited that all conditions, acts and things required by law to exist or to be done precedent to and in the issuance of this Certificate did exist, have happened, been done and performed in regular and due form and time as required by law.
This Certificate shall not be valid or become obligatory for any purpose or be entitled to any benefit or security under the Resolution until it shall have been authenticated by the execution by the Registrar of the certificate of authentication endorsed hereon.
IN WITNESS WHEREOF, the School District has caused this Certificate to be signed by the manual or facsimile signature of its President of the School Board of the Brandon Valley School District No. 49-2 and to be countersigned by the manual or facsimile signature of its Business Manager all as of the Certificate Date specified above.
BRANDON VALLEY SCHOOL DISTRICT NO. 49-2,
President of the School Board
This Certificate is a Certificate of the series designated therein and has been issued under the provisions of the within-mentioned Resolution and the date of its authentication is ________, 2014.
The First National Bank
in Sioux Falls
Paying Agent and Registrar
KNOW ALL MEN BY THESE PRESENTS: That the Brandon Valley School District No. 49-2, Brandon (the "School District"), in Minnehaha County, South Dakota, hereby acknowledges itself to owe and for value received promises to pay the Principal Amount, to the Registered Owner mentioned above in lawful money of the United States of America, together with interest thereon from the Certificate Date mentioned above at the Interest Rate mentioned above. The interest hereon is payable _____________, and semiannually thereafter on February 1 and August 1 (each an "Interest Payment Date") in each year to maturity or earlier redemption by wire transfer, check or draft mailed to the Registered Owner at its address as it appears on the Certificate registration books of the School District maintained by The First National Bank in Sioux Falls, Sioux Falls, South Dakota as Certificate Registrar and Paying Agent (the "Registrar"), on the close of business on the fifteenth day (whether or not a business day) of the calendar month next preceding each interest payment date. The principal hereof due at maturity or upon redemption prior to maturity is payable at the office of Registrar upon presentation and surrender of this Certificate at maturity or upon earlier redemption. The principal of, premium (if any) and interest on this Certificate is payable in any coin or currency of the United States of America which, at the time of payment, is legal tender for the payment of public and private debts.
This Certificate is one of an authorized issue of Certificates limited in aggregate principal amount to a maximum of $8,200,000 (the "Certificates") all of like date and tenor except as to maturity, interest rates and privileges of redemption, the proceeds of which, combined with interest earnings, will be used to: (1) finance a portion of the costs of constructing, equipping and furnishing a grades 5-6 intermediate school and (2) pay the costs of issuing the Certificates pursuant to a resolution duly and regularly adopted by the School District (the "Certificate Resolution"). The Certificates are subject to all the provisions and limitations of the Certificate Resolution and Chapters 13-16 and 6-8B, South Dakota Codified Laws, as amended. The District has levied an irrepealable Capital Outlay levy in an amount not to exceed three dollars per thousand of taxable valuation for the payment of the Certificates.
The Resolution authorizing the issuance of the Certificates permits the issuance of additional capital outlay certificates payable from the Capital Outlay Fund of the District, provided that the School Board first determines that a Capital Outlay Fund tax levy of not more than $3 per $1,000 of assessed valuation will afford debt service coverage for all outstanding Capital Outlay Certificates, plus the additional capital outlay certificates proposed to be issued, of at least 1.25 times. The property tax levy for any such additional certificates, together with the levy for then all outstanding Capital Outlay Certificates described herein and any other Capital Outlay Fund purposes would be limited to $3 per $1,000 in total. Such additional certificates would have a parity claim with all the then outstanding Capital Outlay Certificates against property tax revenues received into the Capital Outlay Fund of the District.
This Certificate is transferable by the registered holder hereof in person or by his attorney duly authorized in writing at the office of the Certificate Registrar in Sioux Falls, South Dakota, but only in the manner, subject to the limitations and upon payment of the charges provided in the Certificate Resolution, and upon surrender and cancellation of this Certificate. Upon such transfer a new Certificate or Certificates of authorized denomination of the same maturity and for the same aggregate principal amount will be issued to the transferee in exchange therefore.
The School District and the Certificate Registrar may deem and treat the registered holder hereof as the absolute owner hereof and neither the School District nor the Certificate Registrar shall be affected by any notice to the contrary.
The School District has in the Resolution designated such issue of Certificates as "qualified tax-exempt obligations" pursuant to Section 265(b)(3)(B)(III) of the Internal Revenue Code of 1986, as amended.
Brandon Valley School
District No. 49-2
Minnehaha County, South Dakota
Limited Tax Capital Outlay
Certificates, Series 2014
Ladies and Gentlemen:
We have acted as bond counsel in connection with the issuance by the Brandon Valley School District No. 49-2 (the "Issuer") of $_______ Limited Tax Capital Outlay Certificates, Series 2014, dated ________, (the "Certificates"). We have examined such certified proceedings and other papers as we deem necessary to render this opinion.
As to questions of fact material to our opinion, we have relied upon the certified proceedings and other certifications of public officials furnished to us, without undertaking to verify such facts by independent investigation.
Based upon the foregoing, we are of the opinion that, under existing law:
1. The Issuer is duly created and validly existing as a body corporate and politic and public instrumentality of the State of South Dakota with the corporate power to adopt and perform the Resolution and issue the Certificates.
2. A Resolution has been duly adopted by the Issuer on ___________ ___ 2014 and constitutes a valid and binding limited obligation of the Issuer enforceable upon the Issuer.
3. The Resolution levies ad valorem taxes not in excess of three dollars per thousand annually upon all of the taxable property in the District, for the capital outlay fund of the District, from which fund, said Certificates and interest thereon are payable.
4. The Certificates have been duly authorized, executed and delivered by the Issuer and are valid and binding limited obligations of the Issuer, payable solely from the sources provided therefore in the Resolution.
5. The interest on the Certificates is excluded from gross income for federal income tax purposes and is not an item of tax preference for purposes of the federal alternative minimum tax imposed on individuals and corporations; it should be noted, however, that for the purpose of computing the alternative minimum tax imposed on certain corporations as defined for federal income tax purposes, such interest is taken into account in determining adjusted current earnings. The opinions set forth in the preceding sentence are subject to the condition that the Issuer comply with all requirements of the Internal Revenue Code of 1986 as amended, that must be satisfied subsequent to the issuance of the Certificates in order that interest thereon be, or continue to be, excluded from gross income for federal income tax purposes. The Issuer has covenanted to comply with each such requirement. Failure to comply with certain of such requirements may cause the inclusion of interest on the Certificates in gross income for federal income tax purposes to be retroactive to the date of issuance of the Certificates. We express no opinion regarding other federal tax consequences arising with respect to the Certificates.
6. Under existing law, the interest on the Bonds is includible in "taxable income" for the State of South Dakota income tax purposes when the recipient is a "financial institution" as defined by Chapter 10-43, South Dakota Codified Laws, according to present state laws, regulations and decisions. We express no further opinions regarding other South Dakota tax consequences arising with regard to the Bonds.
7. The Certificates are qualified tax-exempt obligations within the meaning of Section 265(b)(3) of the Code.
It is to be understood that the rights of the holders of the Certificates and the enforceability thereof may be subject to bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting creditors' rights heretofore or hereafter enacted to the extent constitutionally applicable and that their enforcement may be subject to the exercise of judicial discretion in accordance with general principles of equity and subject to regulatory requirements under the laws of the United States and of the State of South Dakota.
Meierhenry Sargent LLP
AS PROVIDED IN THE RESOLUTION REFERRED TO HEREIN, UNTIL THE TERMINATION OF THE SYSTEM OF BOOK-ENTRY-ONLY TRANSFERS THROUGH DEPOSITORY TRUST COMPANY, NEW YORK, NEW YORK (TOGETHER WITH ANY SUCCESSOR SECURITIES DEPOSITORY APPOINTED PURSUANT TO THE RESOLUTION, "DTC"), AND NOTWITHSTANDING ANY OTHER PROVISIONS OF THE RESOLUTION TO THE CONTRARY, A PORTION OF THE PRINCIPAL AMOUNT OF THIS CERTIFICATE MAY BE PAID OR REDEEMED WITHOUT SURRENDER HEREOF TO THE REGISTRAR. DTC OR A NOMINEE, TRANSFEREE OR ASSIGNEE OF DTC OF THIS CERTIFICATE MAY NOT RELY UPON THE PRINCIPAL AMOUNT INDICATED HEREON AS THE PRINCIPAL AMOUNT HEREOF OUTSTANDING AND UNPAID. THE PRINCIPAL AMOUNT HEREOF OUTSTANDING AND UNPAID SHALL FOR ALL PURPOSES BE THE AMOUNT DETERMINED IN THE MANNER PROVIDED IN THE RESOLUTION.
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED OFFICER OF DTC (A) TO THE REGISTRAR FOR REGISTRATION OF TRANSFER OR EXCHANGE OR (B) TO THE REGISTRAR FOR PAYMENT OF PRINCIPAL, AND ANY CERTIFICATE ISSUED IN REPLACEMENT HEREOF OR SUBSTITUTION HEREFOR IS REGISTERED IN THE NAME OF DTC AND ANY PAYMENT IS MADE TO DTC OR ITS NOMINEE, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL BECAUSE ONLY THE REGISTERED OWNER HEREOF, DTC OR ITS NOMINEE, HAS AN INTEREST HEREIN.
(Form of Assignment)
FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto the within Certificate and all rights thereunder, and hereby irrevocably constitutes and appoints attorney to transfer the within Certificate on the books kept for registration thereof, with full power of substitution in the premises.
NOTICE: The signature to this Assignment must correspond with the name as it appears upon the face of the within Certificate in every particular, without alteration or enlargement or any change whatever.
Motion by Ode, seconded by Klatt to approve the following general business items:
1. Acknowledge receipt of bargaining notification for the Brandon Valley Education Association.
2. Approve request from Jon Button - Ski Program Coordinator, requesting support of the Brandon Valley Ski/Snowboard Program by allowing the use of a bus for transportation to Great Bear.
3. Approve 2014 School Board Election date of Tuesday, June 17, 2014.
4. Approve open enrollment #14-133, 14-134, 14-135, 14-136, and 14-139. Deny open enrollments: #14-137 and 14-138.
5. Approve proposed 2014-15 Brandon Valley School District Calendar as presented.
Motion by Hegland, seconded by Klatt to approve the following personnel items:
1. Approve half year lane changes as follows: Mark Griebel, BA+15 to MA and Laura Baker, BA+15 to MA.
2. Approve recommendation to hire Andrew Bauer, full-time Grounds Employee, $12.25/hour, effective January 14, 2014.
3. Approve recommendation to hire Kevin Mickelsen, full-time FAE Custodian, $12.25/hour plus .50¢/ hour night differential pay, effective January 14, 2014.
4. Approve resignation/ retirement submitted by Pam Eitreim, BE 4th grade teacher, effective at the end of the 2013-14 school year.
5. Approve the following substitutes for the 2013-14 school year: Jessica Hager, Jeremy Smith, and Tami Broekemeier.
6. Approve half-year payment of $500 to Gay Anderson for completion of 60 hours of college credit per prior agreement.
7. Approve recommendation to hire Garey Moore, part-time BVHS Child Nutrition - $10.90/hour, effective January 6, 2014.
8. Approve $4/hour pay increase for Leah Jorgensen, Title I Tutor, recognizing 18 hours of credit in reading.
9. Approve resignation submitted by Phillip Andela, RBE 3rd grade teacher, effective at the end of the 2013-14 school year.
10. Recommendation to hire Briana Weber, Long-term substitute for 7th Grade English at BVMS for approximately six weeks, beginning on or about February 7, 2014.
11. Approve request from Lynn Bartscher for unpaid leave from February 3 - 10, 2014 (6 days).
The following personnel items were reviewed by the Board of Education for information only:
1. Approve maternity leave request from Abby Klumper on or around March, 2014 for ten weeks.
Communications received by the Central Office and Board of Education were reviewed. They included the following items:
1. December 2013 Building Permits.
2. Thank you from Melissa Garrow, Wendy Bunker, Margi Hanson, Renae Peyton, and Ardis Moeller regarding using the Skyward Health Module. It has enhanced documentation of daily office visits, medication disbursement, student immunizations, and health screenings.
3. Thank you from Francena Eagle for the plan sent to her while she was hospitalized.
4. Thank you from Paul Hahn and the Raymond R. Goedtke Family for the plant sent in memory of her father.
Board reports were presented. Gregg Ode offered a question regarding school nutrition. He has heard that the USDA has changed the nutritional values for the school lunch program and wants to know when that will come into effect at Brandon Valley and how will it affect our budget. Pappone stated that BV is already operating under the changes required and should see no significant changes.
Renee Ullom reported on the Alternative Education committee and stated that the East Dakota Education Cooperative yearly audit is complete as well.
Travel Reports were reviewed.
Motion by Ode, seconded by Schroeder to adjourn the meeting at 6:58 p.m. Motion carried.
Approved by the Board of Education this 10th day of February, 2014.
BRANDON VALLEY SCHOOL DISTRICT 49-2
PAYEE, DESCRIPTION, AMOUNT
95 PERCENT GROUP INC, BE-CLASSROOM SUPPLIES, 158.40; A&B BUSINESS SOLUTIONS INC, COPIER LEASE, 6,459.74, HS-COPIER SUPPLIES, 68.40; A TO Z WORLD LANGUAGES, INC, FAE-INTERPRETER, 50.00; ACADEMIC HALLMARKS, QUIZ BOWL SUPPLIES, 67.00; ALLIED OIL & SUPPLY, BUS TIRES, 551.37; ARGUS LEADER MEDIA, LEGALS, 673.14; ATS INC, DISTRICT-ENTRANCE SECURITY, 3,690.00, HS-INTERCOM REPAIRS, 105.00, MS-INTERCOM REPAIRS, 540.00; AUGUSTANA COLLEGE, REGISTRATIONS, 290.00; AMG OCCUPATIONAL MEDICINE, BUS DRIVER PHYSICALS, 578.54; BARNES & NOBLE BOOKSELLERS, HS-LIBRARY BOOKS, 447.70, MS-LIBRARY BOOKS, 161.47; BATTERY SYSTEMS, BUS REPAIRS, 485.34; BATTERIES PLUS, RBE-CUSTODIAL SUPPLIES, 52.95; BECK, BILL, MILEAGE, 215.04; BEYOND PLAY, SPEC ED SUPPLIES, 112.64; BOHRER, MONTY, BBB OFFICIAL, 60.00; BORDER STATES INDUSTRIES, INC, RBE-LIGHTING SUPPLIES, 58.32; CITY OF BRANDON, UTILITIES-WATER/SEWER, 3,166.56; BROWN & SAENGER, BOND ISSUE ELECTION SUPPLIES, 59.50, BUSINESS OFFICE SUPPLIES, 240.32, CLASSROOM FURNISHINGS, 2,605.89; BROWN, KARLA, HS-CHOIR ACCOMPANIST, 50.00; BUNKER, WENDY, MILEAGE, 464.10; BVSD ADVANCED PAYMENTS, ADVANCED PAYMENTS, 5,037.83; CABANA BANNERS, ATHLETIC BANNER, 476.00; CANTALOPE, BILL, GBB OFFICIAL, 120.00; CAPSTONE PRESS, ELEMENTARY LIBRARIES-ONLINE SERVICE, 3,781.00; CARROLL INSTITUTE, DRUG/ALCOHOL COUNSELING SERVICES, 512.00; CHILDRENS CARE HOSPITAL/ SCHOOL, SPEECH/OT SERVICES, 610.75; CHILDRENS HOME SOCIETY, OT SERVICES, 600.00, TUITION, 2,443.20; COATES PIANO SERVICE, PAC-PIANO TUNING, 134.00; CONSTELLATION NEW ENERGY GAS DIV, UTILITIES-GAS, 9,256.06; CPI QUALIFIED PLAN CONSULTANTS, 403(B) REMITTANCE FEES, 90.00; DAKOTA FLUID POWER INC, GROUNDS SUPPLIES, 223.18; DAKOTALAND AUTOGLASS, INC, PICKUP REPAIRS, 385.00; DAKOTALINK, BRAILLE EMBOSSER, 3,273.85; DAKOTA SUPPLY GROUP, BE-CUSTODIAL SUPPLIES, 52.30, HS-PLUMBING SUPPLIES, 123.11, MS-PLUMBING SUPPLIES, 111.00; HAUFF MID-AMERICA SPORTS INC, AD SUPPLIES, 15.00, BBB SUPPLIES, 35.90, BOYS GOLF SUPPLIES, (50.00), GBB SUPPLIES, 35.90, RBE-PE SUPPLIES, 2,391.61; DYKSTRA, CHERILYN, GBB OFFICIAL, 50.00; EARTHBEND LLC, BUSINESS OFFICE SUPPLIES, 153.35, HS PHOTOGRAPHY-PRINTER, 555.50, HS PHOTOGRAPHY-SUPPLIES, 183.00, MS-COMPUTER EQUIP, 25,500.00, MS-PRINTER REPAIRS, 681.00; EAST DAKOTA EDUCATIONAL COOP, REGISTRATIONS, 300.00, SPEC ED TRANSPORTATION, 96.00; ELVERSON, TED, BBB OFFICIAL, 60.00; ETRHEIM, TREY, BBB WORKER, 20.00; EXIDE TECHNOLOGIES, RBE-CUSTODIAL SUPPLIES, 856.05; FASTENAL COMPANY, BE-CUSTODIAL SUPPLIES, 43.93; FETC, REGISTRATIONS, 480.00; FLAGHOUSE, SPEC ED SUPPLIES, 49.50; FLEET PRIDE, SUBURBAN REPAIRS, 90.29; FLOORS NORTHWEST, HS-CUSTODIAL SUPPLIES, 575.81; FOSER, SUSAN, FAE GYM-PROJECTOR SUPPLIES, 379.97, FAE-PRINCIPAL SUPPLIES, 188.63, TRAVEL-FAE PRINCIPAL, 238.30; G&H DISTRIBUTING, INC, MS-COMBINATION LOCKS, 657.18; G&K SERVICES, LAUNDRY, 2,411.43; GARROW, A J, BBB WORKER, 20.00; GOEMBEL, CLIFF, MILEAGE, 95.76; GONSETH, NANCY, MILEAGE, 31.50; GORDON, CHAD, BBB OFFICIAL, 80.00; GOVERNORS INN, TRAVEL-FFA, 360.00; GRAGE, BRIANA, BBB WORKER, 60.00, GBB WORKER, 60.00; G & R CONTROLS, BE-HVAC REPAIRS, 5,668.34, MS-HVAC REPAIRS, 561.33; GUTHMILLER, ADAM, BBB WORKER, 40.00; HALL, ALANA, GBB WORKER, 30.00; HANSEN, ZACH, THEATER WORKER, 235.00; HAROLD'S PHOTO CENTERS, HS-JOURNALISM SUPPLIES, 62.48; HARMS OIL CO, FUEL, 9,143.85; MAIL FINANCE, POSTAGE MACHINE LEASE, 717.00; HENSON, CHARLES, MILEAGE, 120.96; HERR, JOSH, GBB OFFICIAL, 135.00; HILLYARD/SIOUX FALLS, DISTRICT-CUSTODIAL SUPPLIES, 542.94, HS-CUSTODIAL SUPPLIES, 271.40; HOLBECK, GENA, BBB WORKER, 80.00, GBB WORKER, 120.00; HOLMES, CAMERON, GBB WORKER, 20.00; STAN HOUSTON EQUIP CO, INC, HS-SHOP EQUIP REPAIRS, 261.52; HUISMAN, ADAM, FUEL, 80.01; JASTRAM, TERRY, GBB OFFICIAL, 160.00; JENSEN, TERRI, MILEAGE, 366.83; JOHNSON CONTROLS, INC, HS-HVAC REPAIRS, 390.54, VSE-HVAC REPAIRS, 1,902.69; JOHNSON, ANDY, MEALS, 125.00; SUNSHINE FOODS, DISTRICT SUPPLIES, 987.38; JUNDT, ANNE, MILEAGE, 47.04; JUNIOR LIBRARY GUILD, MS-LIBRARY BOOKS, 2,001.00; K&M MUSIC, MS-BAND REPAIRS, 47.45; KARPEN, GERRY, BUS DRIVER PHYSICAL, 55.00; KAYSER, DONNIE, GBB OFFICIAL, 80.00; KENDELL DOORS AND HARDWARE INC, DISTRICT-CUSTODIAL SUPPLIES, 2,446.54; KEYMAN, JOEL, MILEAGE, 201.60; KLATT, SANDRA, MILEAGE, 170.20; KOLB, VICKIE, BE-GUIDANCE SUPPLIES, 31.92; KONO, JASON, BBB OFFICIAL, 80.00; KRAMER, BRENT, BE-CLASSROOM SUPPLIES, 49.21, MEALS, 125.00; KRIER & BLAIN, INC, BE-PLUMBING REPAIRS, 212.00; KRUSE, ALEXA, THEATER WORKER, 50.00; KUHNERT, BRAD, GBB OFFICIAL, 80.00; MATHESON TRI-GAS INC, GROUNDS SUPPLIES, 40.35, HS-VO/AG SUPPLIES, 55.24, TRANSPORTATION SUPPLIES, 60.98; LOGAN, BOB, GBB OFFICIAL, 215.00; MAC DOCTORS, HS-JOURNALISM SUPPLIES, 1,153.00; MARSO, MAKENZIE, BBB WORKER, 60.00, GBB WORKER, 100.00; MARV'S SANITARY SERVICE, GARBAGE PICKUP, 167.50; MENARDS-SIOUX FALLS EAST, HS-VO/AG SUPPLIES, 91.66; MIDWEST BUS PARTS, BUS REPAIRS, 170.75; MIDAMERICAN ENERGY, UTILITIES-GAS, 314.11; MIDWEST SECURITY LAMINATIONS, WINDOW SECURITY FILM, 14,055.92; MIDWAY SERVICE, GROUNDS SUPPLIES, 790.00; MILLER, JESSE, MILEAGE, 161.28; MINNEHAHA COUNTY TREASURER, 41ST ST SITE-SPECIAL TAX ASSESSMENT, 1,053.27, FAE-SPECIAL TAX ASSESSMENT, 3,238.65; MIZE, RANDY, BBB OFFICIAL, 50.00; MUDDER, MIKE, BBB OFFICIAL/MILEAGE, 156.96; MURTHA, TAYLOR, BBB WORKER, 20.00; NELSON, DANA, BBB OFFICIAL, 80.00; NORBERG PAINTS, GROUNDS EQUIP REPAIRS, 157.00; NORTH CENTRAL BUS SALES, BUS REPAIRS, 172.62; NORTHERN TRUCK EQUIPMENT CORP, SNOW PLOW REPAIRS, 918.65, GROUNDS SUPPLIES, 90.59; OAKRIDGE NURSERY & LANDSCAPING, PAC-HOLIDAY DECORATIONS, 332.00; OCLC INC, HS LIBRARY-CATALOG SERVICES, 505.00; OVERHEAD DOOR COMPANY, BUS GARAGE-DOOR REPAIRS, 193.83, VSE SHOP-DOOR REPAIRS, 451.02; PALMER, TANYA, VSE-PRINCIPAL SUPPLIES, 33.70; PERFORMANCE PRESS, ECHO PRINTING, 409.00; PEYTON, RENAE, MILEAGE, 44.52; PFEIFER IMPLEMENT, GROUNDS EQUIP REPAIRS, 532.54, GROUNDS SUPPLIES, 132.19; PHONAK LLC, SPEC ED SUPPLIES, 116.39; POSTMASTER, PRESORT MAILING FEE, 200.00; STURDEVANT'S AUTO PARTS, TRANSPORTATION SUPPLIES, 212.61; QUALITY INN & SUITES, TRAVEL-STATE ORAL INTERP, 374.00; QUAM & BERGLIN, AUDIT FEE, 11,000.00; QUANBECK, JOEL, THEATER WORKER, 170.00; QUIA SUBSCRIPTIONS DEPT, GIFTED ED SUPPLIES, 49.00; CENTURY LINK, UTILITIES-TELEPHONE, 129.98; RADIO SHACK, COMPUTER SUPPLIES, 19.99, OPERATIONS MGR SUPPLIES, 59.94; RASMUSSEN, ALLISON, SPEC ED SUPPLIES, 123.93; READING BUS LINE, INC, GBB-PIERRE, 1,200.00; REIF, GINA, MEALS, 52.00; RICKETTS JR, JIM, BBB OFFICIAL, 80.00; RISWOLD, STEVE, GBB OFFICIAL, 80.00; RUESINK, FRAN, BBB OFFICIAL/ MILEAGE, 98.50; SAGE, MEGAN, SPEC ED SUPPLIES, 202.49; SAGE, RYAN, GBB OFFICIAL, 80.00; SKYWARD, W-2 PROCESSING, 1,027.06; SCHOOL SPECIALTY, INC, FAE-PLAYGROUND SUPPLIES, 9.90, RBE-CLASSROOM SUPPLIES, 45.03; SCHUMACHER, CATILYN, THEATER WORKER, 60.00; SCHUMACHER, ELIZABETH, THEATER WORKER, 105.00; SDDC-REDFIELD, TUITION, 156.00; SDHSAA, REGISTRATIONS, 31.00; SOUTHEASTERN BEHAVIORAL HLTHCR, TUITION, 3,921.00; SIOUX FALLS SCHOOL DISTRICT, HS-TUITION (OCT-NOV), 1,057.20; SIOUX FALLS UTILITIES, UTILITIES-WATER/ SEWER, 437.89; SHAFER, JIM, BUS DRIVER TESTING, 90.00; SISK, MATT, BBB OFFICIAL, 110.00; SOUTH DAKOTA ACHIEVE, TUITION, 3,000.00; SMITH, LISA, MEALS, 52.00; SOO SANITARY SERVICE, SNOW REMOVAL, 3,703.75; ALLIANCE COMMUNICATIONS, UTILITIES-TELEPHONE, 7,060.00; SPLITROCK LANDSCAPING/ NURSERY, SNOW REMOVAL, 1,125.00; STARR, PAT, GBB OFFICIAL, 60.00; STEWART SIGNS, FAE-SIGNAGE, 242.75; STOCKWELL ENGINEERS, INC., INTERMEDIATE SCHOOL-SURVEY FEES, 6,912.00, TRAFFIC IMPACT STUDY, 3,630.40; SUDBECK, DAN, GBB OFFICIAL/MILEAGE, 120.70; SUDENGA, JASON, BBB OFFICIAL, 50.00; SUNDVOLD, TERRY, GBB OFFICIAL, 255.00; SIOUX VALLEY ENERGY, UTILITIES-ELECTRICITY, 67,305.88; SYLLIAASEN, JEFF, GBB OFFICIAL/ MILEAGE, 99.98; TASC, FLEX SPENDING FEES, 410.00; TEACHER'S HELPER, RBE-CLASSROOM SUPPLIES, 41.44; THOMAS BUS SALES, BUS REPAIRS-#052, 3,715.89; THREE RIVERS BENEFIT CORP, HRA ADMIN FEES, 1,525.75; TOSCH, TOM, GBB OFFICIAL, 120.00; TRANE US INC, HS-HVAC REPAIRS, 920.00; TRAVEL PARTNERS, TRAVEL-BE INSTRUCTION, 1,519.20; THE TREE HOUSE, INC, DISTRICT SUPPLIES, 17,337.20; TREIBER, CARL, GBB OFFICIAL, 35.00; TRUCKS OF BISMARCK, INC, BUS REPAIRS, 280.34; BRANDON ACE HARDWARE, DISTRICT SUPPLIES, 1,571.20; VALLEY SPRINGS BODY SHOP, BUS REPAIRS-#052, 1,985.00; CITY OF VALLEY SPRINGS, UTILITIES-WATER/SEWER, 720.00; VAN'S AUTO ELECTRIC, BUS REPAIRS, 300.00, VAN REPAIRS, 88.00; VIVENS, MARISSA, ORAL INTERP JUDGE, 60.00; VLAMINCK, CURT, MILEAGE, 153.72; VOGEL MOTORS AUTOMOTIVE REPAIR, PICKUP REPAIRS, 15.00, SUBURBAN REPAIRS, 15.00; VOLK, LAMAE, MS-CHOIR ACCOMPANIST, 50.00; WASTE MANAGEMENT/SIOUX FALLS, GARBAGE PICKUP, 1,696.88; WEBER, BRIAN, GBB OFFICIAL, 80.00, 286,608.86
BRANDON VALLEY SCHOOL DISTRICT 49-2
INVOICE LISTING -
PAYEE, DESCRIPTION, AMOUNT
ANDERSON, GAY, MILEAGE, 96.60; BENNIS, JOANNE, MILEAGE, 116.55; BVSD ADVANCED PAYMENTS, ADVANCED PAYMENTS, 73.31; CHESTERMAN CO, FOOD PURCHASES, 449.50; DACOTAH PAPER, SUPPLIES, 1,368.69; DEAN FOODS INC, FOOD PURCHASES, 14,819.77; EXPRESS PRODUCE, FOOD PURCHASES, 939.90; FOOD SERVICES OF AMERICA, FOOD PURCHASES, 39,940.91; HOVERSTEN ORCHARDS, FOOD PURCHASES, 1,867.00; CASH-WA DISTRIBUTING, FOOD PURCHASES, 2,391.90, SUPPLIES, 1,868.55; INSTITUTIONS SERVICES, INC, REPAIRS, 228.75, SUPPLIES, 851.16; KARL'S TV & APPLIANCE, HS COMMONS-TV, 349.96; KRIER & BLAIN, INC, REPAIRS, 214.27; PAN-O-GOLD BAKING CO, FOOD PURCHASES, 1,717.55; PEPSI, FOOD PURCHASES, 1,061.70; TEACHER'S HELPER, SUPPLIES, 40.00; TERVEER, PATSY, MILEAGE, 49.14; 68,445.21
Brandon Valley School District 49-2
Jodi Ackerman - Substitute, 55.00; Austin Albers - Substitute, 900.00; Karel Amend - Theater Usher, 60.00; Jeanne Angelo - Bus Driving, Training, 338.75; Mary Aschoff - CNS Substitute, 185.00; Amy Baier - Substitute, 110.00; Laura Baker - Student Teacher Stipend, 100.00; Misti Becker - GBB/BBB Shot Clock, 70.00; Scott Benson - Bus Driving, Training, 146.00; Shelly Berg - Student Teacher Stipend, 150.00; Steve Boint - Substitute, 15.00; Teresa Brandsrud - Theater Usher, 20.00; Tami Broekemeier - CNS Substitute, 112.50; Mark Bruggeman - Substitute, 110.00; Julie Brummels - Substitute, 220.00; Jon Button - Bus Driving, 40.55; Jana Carlson - Substitute, 440.00; Trista Christiaansen - Bus Driving, Training, 168.88; Matt Christensen - Sat. School, Sub, Dance Chaperone, 180.00; Bernard Citta - Bus Driver Training, 20.00; Kaye Coburn - Substitute, 1,155.00; Richard Coots - Substitute, 275.00; Joan DeVries - Bus Driving, Training, 445.78; Josh Dieters - Substitute, 185.00; Dan Eastman - Bus Driving, Training, 1,395.70; Kelly Eichelberg - Dance Chaperone, 40.00; Jessica Farley - Substitute, 330.00; Brooke Finn - CNS Substitute, 282.50; Bonnie Fjerestad - Substitute, 70.00; Karissa Flier - Substitute, 220.00; Jeff Fode - Student Teacher Stipend, 100.00; Courtney Francis - Substitute, 1,890.00; Melissa Garrow - BBB Tickets, 80.00; Harold Geist - Bus Driver Training, 10.00; Tami Grieve - GBB Clock, 30.00; Alyssa Hansen - Substitute, 715.00; Barb Hansen - Substitute, 740.00; David Hanson - Bus Driver Training, 20.00; LaDell Hanson - Substitute, 1,045.00; Bruce Hansum - Substitute, 70.00; Jennifer Hart - Substitute, 90.00; Brad Helm - GBB/BBB Book, 150.00; Rosetta Helseth - Bus Driver Training, 20.00; Jerry Hinzman - Bus Driving, Training, 456.50; Craig Holbeck - Substitute, GBB/BBB Clock, 305.00; Dianna Hood - CNS Substitute, Bus Driver Training, 247.50; Jim Houg - Bus Driver Training, 20.00; Jed Huisman - Substitute, 385.00; Jessica Hunsaid - GBB Tickets, 80.00; Brent Jackson - Bus Driving, 121.65; Emily Janssen - Dance Chaperone, 40.00; Dirk Johnson - Bus Driver Training, 20.00; Jenna Johnson - Substitute, 35.00; Norm Jordan - Bus Driver Training, 10.00; Gerry Karpen - Bus Driver Training, 10.00; Kimberly Kelly - Substitute, 1,715.00; Holly King - Substitute, 740.00; Jessica Knutson - Substitute, 70.00; Donna Lease - Substitute, 385.00; Leah Lockner - Substitute, 15.00; Stacie Long - BBB Tickets, 40.00; Juanita Madetzke - Theater Usher, 60.00; Lana Main - Saturday School, Concession Worker, 167.50; Penny Malsom - Substitute, 70.00; Deb Marco - Bus Driver Training, 20.00; Tyson Metzger - GBB Official, 120.00; Kevin Mickelsen - Custodial Substitute, 1,333.13; Gaylene Mielke - CNS Substitute, 250.00; Ann Miller - Bus Driving, 10.00; Bill Miller - Bus Driving, Training, 239.00; J. Erik Mork - Bus Driving, 243.30; Jo Murren - Secretarial/EA Substitute, 80.00; Sandy Namanny - CNS Substitute, 115.00; Lynn Nielsen - Bus Driving, Training, 57.88; Brady Olson - GBB Clock, 60.00; David Osheim - Bus Driver Training, 20.00; Lorraine Osheim - Substitute, 605.00; Laura Peschong - Substitute, 380.00; Christy Petersen - Substitute, 150.00; Annette Peterson - Substitute, 40.00; Dean Pierson - GBB Official, 95.00; Teri Pieters - Substitute, 660.00; Katie Price - Substitute, 15.00; Margaret Quimby - Substitute, 197.50; Lisa Reinschmidt - Substitute, 275.00; Patrick Roberts - Bus Driver Training, 20.00; John Rothenberger - Substitute, 660.00; Sheila Samsel - Substitute, 977.50; Darlene Satter - Custodial Substitute, 215.00; Cindy Schlimgen - Substitute, 55.00; Keith Scholten - Bus Driving, Training, 278.75; Kory Scholten - GBB Official, 55.00; Diane Schroeder - Substitute, 440.00; Dave Schutz - Bus Driver Training, 10.00; Cindy Schwarz - Substitute, 350.00; Anita Shearer - Substitute, 265.00; Steven Skalland - Bus Driving, Training, 95.00; Nick Skibsted - Cell Phone Stipend, 360.00; Gwen Smith - Bus Driving, 51.38; Tracy South - GBB Clock, 30.00; Hillary Sperlich - Substitute, 70.00; Gene Standish - Bus Driver Training, 20.00; Michelle Stemwedel - Dance Chaperone, 40.00; Heather Stettnichs - Substitute, 70.00; Marcie Stoltenberg - CNS Substitute, 197.50; Deb Swanson - Saturday School, Substitute, 170.00; Melissa Symington - GBB Tickets, 80.00; Jacque Terveer-Gonseth - Substitute, 415.00; Patsy Terveer - GBB/BBB Tickets, 80.00; Brad Thorson - Cell Phone Stipend, 360.00; Sara Tiffany - Substitute, 660.00; Connie VanDenOever - Substitute, 220.00; JoAnn Vanderberg - Bus Driving, 242.63; Hazel VanHove - Nurse Substitute, 110.00; John Vermeer - Custodial Substitute, 40.00; Dian Versteeg - Tape BOE Mtgs/Webcasts, 200.00; Twyla Voldseth - Bus Driving, Trng, Custodial, 616.60; Darcie Wachter - Bus Driver Training, 20.00; Gerry Wachter - Bus Driving, Training, 149.00; Connie Waldner - CNS Substitute, 70.00; Bethany Waysman - Substitute, 15.00; Ginger Wells - Substitute, 220.00; Donna Williams - GBB Clock, 70.00; Elizabeth Wright - Substitute, 1,890.00; Phil Youngdale - Bus Driving, Training, 375.00; TOTAL, 33,022.98
Published once at the total approximate cost of $932.83.
1433834 Jan. 22, 2014
NOTICE OF AUDIT OF THE
FISCAL AFFAIRS OF BRANDON VALLEY SCHOOL DISTRICT
Notice is hereby given that the records and books of accounts of Brandon Valley School District No. 49-2 of Brandon, South Dakota have been audited by Quam and Berglin, Certified Public Accountants, for the fiscal year ended June 30, 2013. A detailed report thereon is available for public inspection, during normal business hours, at the business office of the School District, and also available at the Department of Legislative Audit in Pierre, South Dakota or on the Department of Legislative Audit website at http://www.state.sd.us/ legislativeaudit/Reports/reports_all.htm.
This notice is published in compliance with the provisions of SDCL 4-11-7.2.
Quam and Berglin, P.C.
Published twice at the total approximate cost of $26.44.
1433723 Jan. 22 & 29, 2014
ADVERTISEMENT FOR BIDS
BRANDON VALLEY SCHOOL DISTRICT - #49-2
BRANDON, SD 57005-1652
BID CLOSE: January 28, 2014 - 2:00 p.m. Local Time
INVITATION TO BID
Notice is hereby given that sealed bids for two (2) 2014 or newer school buses will be received by Ty Hentschel, District Operations Manager, Brandon Valley School District 49-2 at the George A. Gulson Administration Center, 300 South Splitrock Boulevard, Brandon, South Dakota, 57005 until 2:00 p.m. prevailing time on Tuesday, January 28, 2014. The bids will be opened and read aloud. Bids submitted on forms other that the one provided will not be considered. No bidder may withdraw a bid for 30 days following the bid opening without a written request explaining the cause of the withdrawal and without written consent of the Owner after reviewing the cause.
A resident bidder is allowed a preference as against the bid of any bidder from any other state enforcing or having a preference for resident bidders, equal to such preference.
All proposals must be accompanied by a certified or cashier's check or bank draft in the amount of five percent (5%) of the maximum amount of the proposal, drawn on a state or a national bank and payable to the Brandon Valley School District No. 49-2, as a guarantee that the bidder, if awarded a Purchase Order, shall properly execute the Purchase Order. In lieu thereof, a bid bond for ten percent (10%) of the maximum amount of the proposal may be submitted. Such bond to be issued by a surety authorized to do business in the State of South Dakota and made payable to the Brandon Valley School District No. 49-2.
Bid security in form of certified or cashier's check will be returned to all unsuccessful bidders within 30 days after opening of bids. If no award has been made within 30 days after the date of opening of bids, all bid securities will be returned.
The Board of Education will review the bids received and pass upon them at a regular or special Board meeting to be held no later than thirty (30) days following the bid opening.
The Board of Education of the Brandon Valley School District #49-2, reserves the right to reject any and all proposals, to accept proposals it deems to be in its best interest, and to waive any or all informalities in bidding procedures.
By virtue of statutory authority, preference will be given to materials, products, and supplies found or produced within the State of South Dakota.
Paul J. Lundberg,
Brandon Valley School
District No. 49-2
Published twice at the total approximate cost of $61.66.
1432090 Jan. 15 & 22, 2014
NOTICE OF PUBLIC HEARING ON APPLICATION FOR
A ONE DAY ALCOHOLIC (WINE) BEVERAGE LICENSE
NOTICE IS HEREBY GIVEN that the City Council in and for the City of Brandon, South Dakota, on the 3rd day of February, 2014, at the hour of 6:00 p.m. in the Brandon Council Chambers at 308 Main Avenue, will meet in regular session to consider an application for a One Day Alcoholic Beverage License (Retail On\off Sale Wine) to operate within the municipality on February 7, 2014 from the Risen Savior Catholic Church at 301 North Splitrock Boulevard, Brandon, South Dakota 57005.
NOTICE IS FURTHER GIVEN that any person, persons, or their attorney may appear and be heard at said scheduled public hearing who are interested in the approval or rejection of any such application.
Dated this 14th day of January, 2014.
Dennis E. Olson
Municipal Finance Officer
Published once at the total approximate cost of $20.92.
1433833 Jan. 22, 2014
NOTICE OF VACANCY
MUNICIPALITY OF BRANDON
The following offices will become vacant due to the expiration of the present term of office of the elective officer:
Alderman Ward I, 4 year term,
currently held by Barb Fish
Alderman Ward III, 4 year term, currently held by Robert Smith
Circulation of nominating petitions may begin on January 31, 2014 and petitions may be filed in the office of the finance officer located at 304 Main Avenue, Brandon, South Dakota between the hours of 8:00 a.m. and 5:00 p.m., central standard time, not later than the 28th day of February, 2014.
Bryan H. Read
Published twice at the total approximate cost of $24.68.
1433645 Jan. 15 & 22, 2014
The Board of Commissioners for the City of Valley Springs, South Dakota met in Regular Session on Tuesday, January 14th, 2014 at 6:00 pm at City Hall, 401 Broadway Ave.
The meeting was called to order by Mayor Moss. Present: Commissioners Dean Helgeson, Lance Bauske and Mayor Carl Moss. Absent: Commissioners Brian Staeffler and Tami Jansma. Also Present: Ryan Nussbaum and Sandy Severtson
A motion was made by Helgeson, seconded by Bauske to approve the agenda as stated. All voted yes. Motion carried.
A motion was made by Helgeson, seconded by Bauske to approve the December minutes. All voted yes. Motion carried.
A motion was made by Bauske, seconded by Helgeson to approve the claims and payroll as presented. All voted yes. Motion carried.
BILLS PAID THRU JANUARY 14th, 2014
Alliance Communications, Monthly Phone Service/Various Depts, 149.00; Argus Leader, Legals/ Legislative Dept, 464.43; Banyon Data Systems, Inc, Acctg Support/Finance, Water, Sewer Funds, 795.00; Berkadia Commercial Mortgage, Water Tower Annual Payment/Water Funds, 2, 350.00; Brandon Ace Hardware, Supplies/ Gen Gov't, Street Dept, 58.96; Brandon Valley School District, Fuel/Street Dept, 161.04; Business Forms/ Accounting, Checks/ Finance, Water, Sewer Funds, 146.50; Dakota Supply Group, Inc, Water Supplies/Water Fund, 12.63; Dearborn National Life, Quarterly Insurance/Sewer Fund, 72.30; Delta Dental, Insurance/Sewer Fund, 139.30; Dept of Env & Nat Resources, 2014 Wastewater Fee/Sewer Fund, 750.00; Dept of Env & Nat Resources, 2014 Operator Renewal/ Water, Sewer Fund, 24.00; Don Finstad, CPA, 2012 Annual Report/Finance Dept, 4, 775.00; Elan Financial, Supplies/ Finance, Water, Sewer Fund, 74.00; First National Bank - EFTPS, Payroll Taxes/Various Depts, 2, 130.60; First National Bank - 1, Quarterly Lagoon Payment/ Sewer Fund, 8, 469.24; First National Bank - 2, Quarterly 2005 Sewer Proj/Debt Service Fund, 6, 024.63; Hawkins, Purification/Water Fund, 2, 002.51; IOS Office Solutions, Savin Printer Lease/Finance Dept, 47.50; Marv's Sanitary, Inc, Monthly Service/ Sanitation Dept, 56.00; Meierhenry Sargent, Professional Services/ Finance Dept, 348.00; Menards, Supplies/Gen Gov't Bldg Dept, Water Fund, 414.94; MidAmerican Energy, Natural Gas/Gen Gov't Bldg Dept, 635.70; Minnehaha County Auditor, 1st Qtr Police Service/ Public Safety Dept, 8, 951.80; One Call Systems, Inc, 4th Qtr Locate Tickets/Water Fund, 9 .17; Sandy Severtson - Mileage, Mileage 8/21-12/13/Finance Dept, 166.50; SD Assoc Rural Water, 2014 Annual Dues/Water Fund, 410.00; SD Dept of Labor - Unemploy, 4th Qtr Unemployment Taxes/Sewer Fund, 34.14; SD Dept of Rev - Public Health , Water Tests/Water Fund, 52.00; SD Dept of Rev - Sales Tax, Sales Tax/Finance Dept, 14.58; SD Gov/t Finance Officers, 2014 Annual Dues/Finance Dept, 40.00; SD Human Resources Assoc, 2014 Annual Dues/Finance Dept, 25.00; SD Municipal League, 2014 Annual Dues/Legislative Dept, 696.15; SD Public Assurance Alliance, Insurance/ Street, Water, Sewer Funds, 190.00; SD Retirement System, Retirement/Sewer Fund, 851.53; SD Water/Wastewater Assoc, 2014 Annual Dues/Water, Sewer Funds, 10.00; SECOG, 2014 Annual Dues/Legislative Dept, 1, 169.00; Sioux Valley Electric, Monthly Service, Labor/ Various Depts, 2, 190.27; Stegenga Construction, New Roof - West Well House/Water Fund, 1, 926.85; Sturdevant's, Supplies/Street Dept, 236.16; Titan Machinery, Supplies/Street Dept, 147.38; Valleys Springs Farmer's Coop, Fuel/Street Dept, 216.96; Verizon Wireless, Cellular Service/Street Dept, 54.09; Wellmark/Blue Cross, Health Insurance/Sewer Fund, 1, 383.66; Commissioner Lance Bauske, Net Wages/Legislative Dept, 263.20; Commissioner Dean Helgeson, Net Wages/Legislative Dept, 263.20; Commissioner Tami Jansma, Net Wages/Legislative Dept, 263.20; Commissioner Brian Staeffler, Net Wages/Legislative Dept, 203.17; Mayor Carl Moss, Net Wages/Legislative Dept, 311.68; Julie Kirby, Net Wages/ General Gov't Bldg Dept, 377.58; Jay Lunstra, Net Wages/Street Dept, 1, 108.23; Sandy Namanny, Net Wages/Finance Dept, 356.16; Ryan Nussbaum, Net Wages/ Sewer Fund, 4, 053.20; Sandy Severtson, Net Wages/Sewer Fund, 3, 545.67
Attorneys John Hughes, Jonathan Krueger, Marilyn Trefz and Patrick Glover were present to explain the procedural steps in the process to de-annex the three bridges in the city limits of Valley Springs.
A motion was made by Bauske, seconded by Helgeson to approve the mayor signing the Engagement Letter with Hughes Law Office of Sioux Falls, SD to provide Special Counsel in the Bridge De-annexation process for the three bridges located within the territorial limits of the City. All voted yes. Motion carried.
Jeff Warren was present regarding the Condemnation Appeal for his property at 305 Dunham Street. Bob Avery was also present to express his interest in purchasing the property from Jeff Warren. The process to condemn the property will continue until Mr. Avery comes to a meeting and presents proof of purchase. At that time the Board will set up a time frame for completion of the restoration of the house and garage.
Dan Larsen presented three final plats for approval. After holding a public hearing at 7:00 pm to consider the approval of the Final Plat for Lot B of Cotton's 2nd Addition to the City of Valley Springs, Minnehaha County, South Dakota and upon recommendation to approve from the Valley Springs Planning and Zoning Board, a motion was made by Helgeson, seconded by Bauske to approve the said final plat. All voted yes. Motion carried.
After holding a public hearing at 7:15 pm to consider the approval of the Final Plat for Lot 2 and Lot 3 of Park Addition to the City of Valley Springs, Minnehaha County, South Dakota and upon a recommendation to approve from the Valley Springs Planning and Zoning Board, a motion was made by Bauske, seconded by Helgeson to approve the said final plat. All voted yes. Motion carried.
After holding a public hearing at 7:30 pm to consider the approval of the Final Plat for Tract 1 and Tract 2 of Larsen's 2nd Addition in the Southeast Quarter of Section 3, Township 101 North, Range 47 West of the 5th Principal Meridian, City of Valley Springs, Minnehaha County, South Dakota and upon a recommendation to approve from the Valley Springs Planning and Zoning Board, a motion was made by Helgeson, seconded by Bauske to approve the said final plat. All voted yes. Motion carried.
After discussing the proposed 2014 Salaries Resolution, a motion was made by Bauske, seconded by Helgeson to number, title and adopt Resolution 2014-1 (2014 Salary Resolution). All voted yes.
A motion was made by Bauske, seconded by Helgeson to approve the 2014 Agreement for Animal Control Services and Impoundment Operations Services with the Sioux Falls Area Humane Society. All voted yes. Motion carried.
Finance Officer Severtson presented the 2012 Annual Report. A motion was made by Helgeson. seconded by Bauske to approve the 2012 Annual Report. All voted yes. Motion carried. The Annual Report will be forwarded to the SD Department of Legislative Audit and published in the BV Challenger.
A motion was made by Helgeson, seconded by Bauske to designate First National Bank as the official depository for the city for 2014. All voted yes. Motion carried.
A motion was made by Bauske, seconded by Helgeson to designate the Brandon Valley Challenger as the official newspaper for the city for 2014. All voted yes. Motion carried.
The Board discussed purchasing and installing a generator for the West Well. It will be addressed
again at the next regular meeting.
After discussion, a motion was made by Bauske, seconded by Helgeson to accept the quote from MIDCOTECH, Inc in the amount of $2,512.29 to repair two of the warning sirens. All voted yes. Motion Carried.
The purchase of a Case 621D Pay Loader was discussed.
The Safe Routes to School Update was tabled until the February meeting.
Ryan gave the Public Works Report
A motion was made by Helgeson, seconded by Bauske to adjourn. All voted yes. Motion carried.
Municipal Finance Officer
Published once at the total approximate cost of $86.68.
1433905 Jan. 22, 2014
SALARIES RESOLUTION #2014-1
WHEREAS, a complete list of all the salaries for all officers and employees of the municipal corporation shall be published with the minutes, according to SDCL 6-1-10.
NOW THEREFORE, be it resolved by the Board of Commissioners of the City of Valley Springs, that the 2014 wages be established as follows:
Full-time Employees, 2014
Position, Name, Rate of Pay, Method
Finance Officer, Sandy Severtson, $20.75, Hour; Public Works Operator, Ryan Nussbaum, $20.75, Hour
Position, Name, Rate of Pay, Method
Occasional Office, 10.10, Hour; Utilities/Maintenance, Jay Lunstra, $13.66, Hour; Occasional Maintenance, Julie Kirby, $9.58, Hour, Cleaning, Julie Kirby, $15.00, Hour; Swimming Lesson Chaperones, $9.00, Hour; Summer Swim Bus Driver, $50.00, Round Trip
Other Appointed/Elected Officials: Rate of Pay, Method
Mayor, $75.00, Meeting, $37.50, Quarter; Board of Commissioners, $65.00, Meeting, $25.00, Quarter
Adopted this 14th day of January, 2014
Published once at the total approximate cost of $25.56.
1433903 Jan. 22, 2014
NOTICE OF VACANCY
MUNICIPALITY OF VALLEY SPRINGS,
The following offices will become vacant due to the expiration of the present term of office of the elective officer:
Circulation of nominating petitions may begin on January 31st, 2014 and petitions may be filed in the office of the finance officer located at 401 Broadway Ave. between the hours of 8:00 am - Noon and 1:00 pm - 5:00 pm Monday - Thursday and Friday 8:00 am - Noon Central Standard Time not later than the 28th day of February, in which on that day the office will be open until 5 pm.
Published twice at the total approximate cost of $25.85.
1433357 Jan. 15 & 22, 2014