June 14, 2004

Members Present: Mrs. Coleman, Mr. Dayton, Mrs. Horton, Mr. Johnson, Mr. Moore, Mrs. Young and Mr. Drake.

Also Present: Connie Aslin, Board Secretary and Gordon Robertson, Business Manager

The Special Meeting of the Zachary Community School Board was held on June 14, 2004 at 4700 Main Street.

The Invocation was given by Louise Horton.

The Pledge of Allegiance was given by Lynda Coleman.

ROLL:

6 Present 3 Absent (Danny Davis, Beth Kimmell, Carl Snowden)

Bond Attorney, Jerry Osborne, Foley & Judell law firm, spoke to the board about the process to purchase bonds. He told the board that because we are a new school system, the bonds received an A-minus rating from Standard & Poor’s insurance company and reduced the interest from potential bidders. He told the board that the company that bid was Morgan and Keegan, at an interest rate of 4.87%. Morgan and Keegan will wire $100,000.00 to the Bank of Zachary by 3:00PM, Tuesday, 6-15-04. On July 27, 2004, at 10:00AM the bonds will be delivered to Foley & Judell law firm at 2600 One Canal Place, New Orleans, LA Mr. Osborne invited everyone to his office on July 27, 2004 to watch the delivery and to have lunch.

APPROVAL OF THE ADOPTION OF A RESOLUTION TO REVIEW THE PURCHASE OF $10,000,000 OF GENERAL OBLIGATIONS SCHOOL BONDS, SERIES 2004

Mr. Moore made the motion to approve the adoption of a resolution to review the purchase of $10,000,000 of General Obligations School Bonds, Series 2004 and Mrs. Horton seconded the motion.

VOTE: 6 YEAS 0 NAYS 3 ABSENT

APPROVAL OF THE ADOPTION OF A RESOLUTION TO ACCEPT THE BID TO PURCHASE OF THE BONDS

Mr. Moore made the motion to approve the adoption of a resolution to accept the bid to purchase bonds and Mr. Johnson seconded the motion.

VOTE: 6 YEAS 0 NAYS 3 ABSENT

APPROVAL OF ADOPTION OF RESOLUTION AUTHORIZING INCURRING THE DEBT AND ISSUANCE OF $10,000,000 of GENERAL OBLIGATION SCHOOL BONDS SERIES 2004

Mr. Johnson made the motion to adopt the resolution authorizing incurring the debt and issuance of $10,000,000 of General Obligation School Bonds Series 2004 and Mrs. Coleman seconded the motion.

VOTE: 6 YEAS 0 NAYS 3 ABSENT

ADJOURN

Mrs. Coleman made the motion to adjourn and Mr. Dayton seconded the motion.

VOTE: 6 YEAS 0 NAYS 3 ABSENT

_____________________________ ____________________________

Gaynell Young, President Warren Drake, Superintendent