July 16, 2020 Special Board Meeting

MORMON TRAIL COMMUNITY SCHOOL DISTRICT

SPECIAL BOARD MEETING

July 16, 2020

Board President Evans called the special meeting of the Mormon Trail Board of Directors to order at 6:35 pm. Answering roll call were board members Dachenbach, Bear, Cromer, Smiarowski and Evans. Superintendent Phillips, Principal Stripe and Secretary Rash were also present. Because the purpose of this meeting was to include a closed session,followed by an Exempt session, no ZOOM link was provided.

The agenda was approved with a motion by Smiarowski, a second from Cromer followed by ayes from all present.

Smiarowski motioned to go into closed session under Iowa Code Section 21.5(1)(i) – To evaluate the professional competency of an individual whose appointment, hiring, performance, or discharge is being considered when necessary to prevent needless and irreparable injury to that individual’s reputation and that individual requests a closed session, Dachenbach seconded the motion followed by the following roll call vote:

Evans aye; Cromer aye; Smiarowski aye; Bear aye; and Dachenbach aye.

The Board left closed session at 8:38. Cromer motioned to adjourn the meeting. Smiarowski seconded followed by ayes from Dachenbach, Bear, Cromer, Smiarowski and Evans. 

President Evans closed the meeting at 8:38 p.m. 

Immediately following the Special Meeting the Mormon Trail CSD Board met in Exempt Session to discuss strategy regarding non-union employee wages.

The next regularly scheduled meeting of the Mormon Trail Board of Directors will be held August 12, 2020 @ 6:30 pm in the District Office in Garden Grove and/or via ZOOM. 

____________________________ ___________________________

              President, Board of Education               Secretary, Board of Education

_________  _________  

 Date               Date

These minutes are written as recorded by Secretary Peggy Rash and are subject to approval at the next regular board meeting.   Peggy Rash, Board Secretary/Treasurer

July 9, 2020 Minutes

MORMON TRAIL COMMUNITY SCHOOL DISTRICT

REGULAR BOARD MEETING

July 9, 2020

President Evans called the Regular meeting of the Mormon Trail Board of Directors to order at 6:35 p.m. in the Garden Grove District office. Answering roll call were board members Cromer, Evans, Dachenbach, Bear and Smiarowski. Superintendent Kerry Phillips, Elementary / High School Principal Becky Stripe, Board Secretary Peggy Rash, Transportation Director, Keith Indorf, Secretary Stevie Parmer, and Food Director Sandy Moore were also present. Twelve guests joined the hearing via ZOOM.

The agenda was approved with a motion by Cromer and a second from Dachenbach. Motion passes with all present voting aye.

The consent agenda, consisting of previous meeting minutes and open enrollment requests was approved with a motion from Smiarowski, a second by Dachenbach and ayes from all present. There were no new open enrollments in or out of the District to report.

First under action items, the resignation of Ed Coffey, bus driver, was accepted with a motion by Cromer and a second from Smiarowski. All aye votes were heard to approve. The Board would like to thank Ed for his years of service and dedication to the Mormon Trail District

A new contract was approved for Scott Roberts to teach Driver’s Education. Roberts will receive $165 per each student completing the course. Student costs will be out of District $300, District $250, reduced $165. The motion was made by Cromer and seconded by Dachenbach. Motion passes with all aye votes from all present.

K-12 Principal Becky Stripe and Business Manager/Board Secretary Peggy Rash will both receive a 2.3% increase in their salaries effective July 1, 2020. Both will continue to receive insurance paid by the District. Motion by Smiarowski, second by Dachenbach followed by all ayes from those present to approve.

John Hansen was not present to address item #3.

Sandy Moore, Food and Nutrition Director, was up to discuss the Nutrition program for the coming year and to get bids approved for groceries and dairy. Moore said the Program will be audited this year. She is planning to meet with the Wellness committee soon to get things planned out. She plans to have a zoom link available for the discussion. Moore also updated the Board about the 4-day week and Covid-19 plans. Smiarowski made a motion to approve the following meal prices: Adults $4.00; students breakfast $1.35 lunch $2.25; free and reduced are unchanged. Bids for groceries from Kohl’s and Dairy from AE were also in the motion. Dachenbach seconded followed by all aye votes.

The contract with the Mormon Trail Education Association (MTEA) was approved which includes a 2.3% increase in the generator base for Schedule A certified wages. The generator base will increase from $30,971 to $31,683. TSS funding of $5229 per teacher will be added to bring the base starting wage from $35,000 to $36,912. Motion by Smiarowski, second by Dachenbach followed by all aye votes to approve. Certified Teachers will also contribute $33/month each towards health insurance.

Bear made a motion to approve $37,440.25 for the purchase of 100 Chromebooks and 55 tablets, cases, and licenses. Dachenbach seconded followed by all aye votes. PPEL funds will be used to purchase the technology.

An agreement with SWCC to provide college courses to students was approved with a motion by Smiarowski, a second from Bear followed by all aye votes.

An agreement with ISU for the Educator Preparation Program was approved with a motion by Smiarowski, a second by Bear followed by all aye votes.

Registration fees were approved as follows:

Motion by Bear, second by Dachenbach followed by all aye votes – Book fees $45 and the tech fee will be dropped and all amounts paid to date will be refunded by the end of the first semester.

Motion by Bear, second by Dachenbach followed by all aye votes – non-certified hourly sub rates will be the same as the beginning hourly rate for employees.

Motion by Smiarowski, second by Bear followed by all aye votes – Activity fees will remain the same.

Motion by Cromer, second by Smiarowski followed by all aye votes – to leave certified sub rates at $115 per day.

Smiarowski made a motion to approve June Davis purchasing her assigned laptop for $100 upon her retirement from the District. Cromer seconded followed by all aye votes from those present.

Next up were Propane bids. Agriland Farm Service submitted a bid of $.825 per gallon and United Farmers Coop submitted a bid of $.84 per gallon. Smiarowski motioned to accept the low bid from Agriland FS of $.825. Dachenbach seconded followed by aye votes from Evans, Bear, Smiarowski and Dachenbach. Cromer abstained. The Board would like to thank both bidders for their support of the District.

Next up, the Board was to review Board Policy 403.1. The policy discusses employee physicals. Drivers are required to pass DOT physicals to keep their driver’s authorization current. Smiarowski motioned to change the wording to allow Director Indorf to circumvent the current policy and allow drivers be sent to the most economical medical facility for their physicals. Dachenbach seconded followed by aye votes from Evans, Smiarowski, Dachenbach and Cromer. Bear abstained.

A 60/40 shared position for Human Resources with Wayne CSD was approved with a motion by Cromer and a second by Dachenbach. Aye votes were heard from Smiarowski, Evans, Cromer and Dachenbach. Bear abstained. Motion passes. Wayne CSD will hold the contract.

With a motion by Dachenbach and a second by Cromer MDL Insurance Services/Corydon were approved to provide liability and other insurance to the District. The second was followed by all aye votes to approve.

Smiarowski motioned to continue Jester breakdown insurance. Bear seconded followed by all aye votes to approve. Parmer, Utzke and Rash will meet with the Jester representative.

With a motion by Dachenbach and a second by Cromer MTCSD Leadership Committee’s preliminary Return to Learn Plan was approved for release to the public. All present voted aye in favor to approve.

With a motion by Bear and a second from Cromer the Board agreed to pay the golf coaches, Cale Moore and Cassie Moore one payment of their spring golf contract. Cromer, Smiarowski, Bear, and Evans voted aye to approve. Dachenbach abstained. The spring golf season was cancelled due to COVID-19.

Motion by Cromer and second by Dachenbach to approve the Bills and Financials. Motion is approved with all present voting aye.

Cromer motioned that the meeting be adjourned. Dachenbach seconded with all voting in favor of adjournment.  Evans closed the meeting at 9:30 p.m.

The next regularly scheduled meeting of the Mormon Trail Board of Directors will be held July 8, 2020 @ 6:30 pm in the District Office in Garden Grove.

____________________________ ___________________________

              President, Board of Education               Secretary, Board of Education

_________  _________ 

Date               Date

These minutes are written as recorded by the board secretary and subject to approval at the next regular board meeting.   Peggy Rash, Board Secretary/Treasurer

June 22, 2020 Special Board Minutes

MORMON TRAIL COMMUNITY SCHOOL DISTRICT

SPECIAL BOARD MEETING

June 22, 2020

Board President Evans called the special meeting of the Mormon Trail Board of Directors to order at 6:30 pm. Answering roll call were board members Dachenbach, Bear, Cromer, Smiarowski and Evans. Superintendent Phillips was also present. Because the purpose of this meeting was to include a closed session, no ZOOM link was provided.

Cromer motioned to go into closed session under Iowa Code Section 21.5(1)(i) – To evaluate the professional competency of an individual whose appointment, hiring, performance, or discharge is being considered when necessary to prevent needless and irreparable injury to that individual’s reputation and that individual requests a closed session, Dachenbach seconded the motion followed by the following roll call vote:

Evans aye; Cromer aye; Smiarowski aye; bear aye; and Dachenbach aye.

Cromer motioned to adjourn the meeting. Dachenbach seconded followed by ayes from Dachenbach, Bear, Cromer, Smiarowski and Evans. 

President Evans closed the meeting at 8:42 p.m. 

The next regularly scheduled meeting of the Mormon Trail Board of Directors will be held July 8, 2020 @ 6:30 pm in the District Office in Garden Grove and/or via ZOOM. 

____________________________ ___________________________

              President, Board of Education               Secretary, Board of Education

_________  _________  

 Date               Date

These minutes are written as recorded by board member Stephanie Bear and subject to approval at the next regular board meeting.   Peggy Rash, Board Secretary/Treasurer

June 11, 2020 minutes

MORMON TRAIL COMMUNITY SCHOOL DISTRICT

REGULAR BOARD MEETING

June 11, 2020

President Evans called the Regular meeting of the Mormon Trail Board of Directors to order at 6:38 p.m. in the Garden Grove District office. Answering roll call were board members Cromer, Evans, Dachenbach, Bear and Smiarowski. Superintendent Kerry Phillips, Elementary / High School Principal Becky Stripe Board Secretary Peggy Rash, John Hansen, Janice Downen, Teri Indorf, and Keith Indorf were also present. Six guests joined the hearing via ZOOM.

Janice Downen was present to ask the Board what their plans for the Garden Grove School were once it is vacated. She told the Board of a project one of her sons, Justin was involved in called the greenberetproject.org. Mrs. Downen was told Board Policy would have to be followed once the District was ready to vacate the building and thanked her for coming.

The agenda was approved with a motion by Cromer and a second from Dachenbach. Motion passes with all present voting aye.

The consent agenda, consisting of previous meeting minutes and open enrollment requests was approved with a motion from Smiarowski, a second by Bear and ayes from all present. There were no new open enrollments in or out of the District to report

First under action items there were no resignations to act upon.

New contracts were approved for the following:

Katie Newton – Assistant HS Softball- motion by Smiarowski, second by Cromer. All aye votes to approve.

Mona Baker – 60% Ag 40% At Risk – motion by Cromer, second by Dachenbach. All aye votes to approve.

Cheryl Paugh – Family and Consumer Science – motion by Smiarowski, second by Bear. All aye votes to approve.

Becca Dowdy – JH English – motion by Dachenbach, second by Smiarowski. All aye votes to approve.

Kathay Hoyt – .80 Nurse – motion by Cromer, second by Dachenbach. Dachenbach, Bear, Cromer and Evan vote aye. Smiarowski abstains. Motion passes.

John Hansen spoke to the Board about contracts. DLR will be redoing the contract, including doing an amendment for some changes needed to the original contract. Hansen is hoping for Spring bidding. No action was required.

Keith Indorf, Transportation Director was present to get approval of the Board to purchase a 2002 GMC from Chariton Ford. Price is $10,900. Motion by Cromer, second by Dachenbach, followed by all aye votes to approve.

Next, the Board approved the Seniors to go to the Lake of the Ozarks on their Senior trip June 12-15th. Cromer made the motion to approve followed by a second from Dachenbach. All present voted aye to approve the trip. Teri Indorf and Marc Smiarowski will be accompanying the group.

Smiarowski made a motion to allow Brad Krutsinger to purchase his assigned laptop for $900 upon his leaving the District at the end of this school year. Cromer seconded followed by all aye votes to approve.

Dachenbach made a motion to purchase the Tait property south of the current Humeston school for $45,000. June 30, 2020 has been set to close on the property. Smiarowski seconded followed by all aye votes from Bear, Evans, Cromer, Dachenbach and Smiarowski. Motion passes.

The second reading of a Post Issuance Compliance Policy (704.2A) for Tax Exempt Obligations was approved and the third reading waived with a motion by Smiarowski and a second by Cromer. All present voted aye to approve the new policy.

Technology deposits paid by students graduating or leaving the District were approved for reimbursement with a motion from Smiarowski and a second by Dachenbach. All present voted aye to approve.

The final payment of $174,230.16 for the District’s bus lease agreement for school buses leased in 2018 was approved with a motion from Cromer and a second by Dachenbach. All present voted aye to approve the payoff.

The depository resolution naming banks and maximum deposits was amended as follows:

RESOLUTION NAMING DEPOSITORIES

Amended 6/11/2020

The Mormon Trail Community School Board of Education designates the following named banks to be depositories of the Mormon Trail Community School District for the remainder of the 2019-20 school year and the 2020-2021 school year and that funds are not to be exceeded in the amounts stated below.

Great Western Bank Humeston, Iowa $2,000,000  increase to $8,500,000

ISJIT Des Moines, Iowa $2,000,000  increase to $3,000,000

Motion by Cromer, second by Bear, followed by ayes from Bear, Smiarowski, Cromer, Dachenbach and Evans to pass the resolution.

The District’s Life and LTD policy renewal with Guardian was approved with a motion from Smiarowski and a second from Cromer. The motion passes with all aye votes from all present.

The District’s membership to RSAI (Rural School Advocates of Iowa) for 2020-21 was approved with a motion by Dachenbach and a second by Cromer. All present voted aye to approve.

With a motion by Smiarowski, a second by Cromer followed by all aye votes, the Board approved the financial software renewal provided by Grant Wood AEA.  Cost is $6081 per year.

The following resolutions related to GO Bonds were approved:

GO Bond Resolutions, in summary

Item #15. Resolution appointing paying agent, bond registrar, transfer agent – Every bond must have a Paying Agent, Registrar (keeps track of who owns the bond), and a Transfer Agent.  This resolution appoints UMB Bank, n.a. to perform these services for the District. – motion by Bear, second by Dachenbach, followed by the following votes; Bear aye; Cromer aye; Evans aye; Smiarowski aye; and Dachenbach aye. Motion passes.

Item #16.    Approval of the form of Tax Exemption—The Bonds are issued on a tax-exempt basis.  That means     the interest on the Bonds is exempt from federal income taxes for the holder of the Bond.  The IRS has several rules and regulations relating to tax-exempt bonds, including that the District must state its reasonable expectations regarding the use of the bond proceeds at the time the Bonds are issued, which are documented in this Certificate.  For example, the District must states its expectations that the use of the facilities financed with the Bond proceeds must be for the benefit of the public and will not be used in the private trade or business of any non-governmental entity; or that the District will rebate to the federal government any arbitrage earnings above the bond yield. – motion by Cromer, second by Dachenbach   followed by the following votes; Bear aye; Cromer aye; Evans aye; Smiarowski aye; and Dachenbach aye. Motion passes.

Item #17. Approval of Continuing Disclosure Certificate—The Bonds are subject to certain portions of the federal securities laws.  Rule 15c2-12 of the federal Securities and Exchange Commission imposes annual disclosure requirements on the District.  The Rule requires the underwriter (purchaser of the bonds) to secure a written agreement with the Issuer (the District) to provide annual financial information and operating data while the Bonds are outstanding and also provide “event notices” if certain events occur while the Bonds are outstanding (i.e., a rating change, defeasance of Bonds, etc.).  This Certificate is the written agreement between the District and the underwriter and represents the District’s promise to provide the above-referenced information to the bond holders.  Further, the Certificate describes what financial information and operating data must be disclosed by the District as well as which events trigger the obligation to provide “event notices”.  – motion by Bear, second by Cromer followed by the following votes; Bear aye; Cromer aye; Evans aye; Smiarowski aye; and Dachenbach aye. Motion passes.

Item #18. Resolution Authorizing Issuance of Bonds—This resolution authorizes the issuance of the Bonds, sets various terms of the Bonds (i.e., call date, interest rate, etc.) and levies a sufficient tax to pay principal and interest on the Bonds. – motion by Dachenbach, second by Bear, followed by the following votes; Bear aye; Cromer aye; Evans aye; Smiarowski aye; and Dachenbach aye. Motion passes.

The following resolutions related to SAVE Bonds were approved:

SAVE Bonds resolutions, in summary,

Item#19. Resolution Appointing Paying Agent, Bond Registrar, Transfer Agent – Every bond must have a Paying Agent, Registrar (keeps track of who owns the bond), and a Transfer Agent.  This resolution appoints UMB  Bank, n.a. to perform these services for the District. – motion by Bear, second by Dachenbach, followed by the following votes; Bear aye; Cromer aye; Evans aye; Smiarowski aye; and Dachenbach aye. Motion passes.

Item#20. Approval of the form of Tax Exemption—The Bonds are issued on a tax-exempt basis.  That means the interest on the Bonds is exempt from federal income taxes for the holder of the Bond.  The IRS has several rules and regulations relating to tax-exempt bonds, including that the District must state its reasonable expectations regarding the use of the bond proceeds at the time the Bonds are issued, which are documented in this Certificate.  For example, the District must states its expectations that the use of the facilities financed with the original bond proceeds must be for the benefit of the public and will not be used in the private trade or business of any non-governmental entity; or that the District will rebate to the federal government any arbitrage earnings above the bond yield. – motion by Cromer, second by Dachenbach, followed by the following votes; Bear aye; Cromer aye; Evans aye; Smiarowski aye; and Dachenbach aye. Motion passes.

Item#21. Resolution Authorizing Issuance of Bonds—This resolution authorizes the issuance of the Bonds, sets various terms of the Bonds (i.e., call date, interest rate, etc.) and places a first lien on the District’s SAVE revenues in order to pay principal and interest on the Bonds. – motion by Cromer, second by Bear, followed by the following votes; Bear aye; Cromer aye; Evans aye; Smiarowski aye; and Dachenbach aye. Motion passes.

Motion by Bear and second by Dachenbach to approve the Bills and Financials. Motion is approved with all present voting aye.

Cromer motioned that the meeting be adjourned. Dachenbach seconded with all voting in favor of adjournment.  Evans closed the meeting at 9:07 p.m.

The next regularly scheduled meeting of the Mormon Trail Board of Directors will be held July 8, 2020 @ 6:30 pm in the District Office in Garden Grove.

____________________________ ___________________________

              President, Board of Education               Secretary, Board of Education

_________  _________ 

Date               Date

These minutes are written as recorded by the board secretary and subject to approval at the next regular board meeting.   Peggy Rash, Board Secretary/Treasurer

May 28, 2020 Special Board Meeting

MORMON TRAIL COMMUNITY SCHOOL DISTRICT

SPECIAL BOARD MEETING

May 28, 2020

Board President Evans called the special meeting of the Mormon Trail Board of Directors to order at 5:00 pm via a ZOOM electronic meeting. Answering roll call via ZOOM were board members Dachenbach, Bear, Cromer, Smiarowski and Evans. Board Secretary Peggy Rash and Superintendent Phillips were also present via ZOOM. One guest, Matthew Gillespie from Piper Sandler was also present via ZOOM.

The agenda was approved with a motion by Cromer and a second from Bear. Dachenbach, Bear, Cromer, Smiarowski and Evans voted aye to approve. 

With a motion from Bear, the Board adopted a resolution introduced by Matthew Gillespie directing the sale of the SAVE Bonds to the most favorable bidder.

RESOLUTION DIRECTING THE SALE OF $1,738,000 SCHOOL INFRASTRUCTURE SALES, SERVICES AND USE TAX REVENUE BONDS, SERIES 2020

This is the time and place for the sale of School Infrastructure Sales, Services and Use Tax Revenue Bonds, Series 2020 (the “Bonds”);

WHEREAS, the School District has received proposals for the sale of the Bonds and has arranged for the sale of these Bonds to Pinnacle Public Finance, Inc., at a purchase price of par, plus accrued interest to date of delivery:

NOW, THEREFORE, IT IS RESOLVED BY THE BOARD OF DIRECTORS OF THE MORMON TRAIL COMMUNITY SCHOOL DISTRICT IN THE COUNTIES OF WAYNE, CLARKE, DECATUR AND LUCAS, STATE OF IOWA:

Section 1. The sale of $1,738,000 School Infrastructure, Sales, Services and Use Tax Revenue Bonds, Series 2020, to be dated the date of delivery, for the purpose to construct, build, furnish and equip an elementary school addition and to improve the site, upon the following terms, is approved and confirmed.

Section 2. That the President and Secretary are authorized and directed to issue and deliver $1,738,000 School Infrastructure Sales, Services and Use Tax Revenue Bonds, Series 2020, in the aggregate principal amount of $1,738,000, each in the denomination of $100,000 or integral multiples of $1,000 in excess thereof, bearing interest and maturing as follows:

Principal Amount Interest Rate Maturity Date

$1,738,000 2.85% July 1, 2030

See attached

Section 3. That all acts of the Superintendent of Schools and Board Secretary done in furtherance of the sale of the Bonds are ratified and approved.

PASSED AND APPROVED this 28th day of May, 2020.

Cromer seconded followed by ayes from Dachenbach, Bear, Cromer, Smiarowski and Evans to approve.

There were no discussion items.

Cromer motioned to adjourn the meeting. Dachenbach seconded followed by ayes from Dachenbach, Bear, Cromer, Smiarowski and Evans. 

President Evans closed the meeting at 5:08 p.m. 

The next regularly scheduled meeting of the Mormon Trail Board of Directors will be held June 10, 2020 @ 6:30 pm in the District Office in Garden Grove and/or via ZOOM. 

____________________________ ___________________________

              President, Board of Education               Secretary, Board of Education

_________  _________  

 Date               Date

These minutes are written as recorded by the board secretary and subject to approval at the next regular board meeting.   Peggy Rash, Board Secretary/Treasurer

May 26, 2020 Special Board Meeting

MORMON TRAIL COMMUNITY SCHOOL DISTRICT

SPECIAL BOARD MEETING

May 26, 2020

Board President Evans called the special meeting of the Mormon Trail Board of Directors to order at 5:00 pm via a ZOOM electronic meeting. Answering roll call via ZOOM were board members Dachenbach, Bear, Cromer, Smiarowski and Evans. Board Secretary Peggy Rash and Superintendent Phillips were also present via ZOOM. One guest, Matthew Gillespie from Piper Sandler was also present via ZOOM.

The agenda was approved with a motion by Cromer and a second from Bear. Dachenbach, Bear, Cromer, Smiarowski and Evans voted aye to approve. 

The Superintendent of Schools and Secretary of the Board of Directors of the Mormon Trail Community School District in the Counties of Wayne, Clarke, Decatur and Lucas, State of Iowa, and the Financial Advisor for the District, met telephonically in the Superintendent’s Office, at 12:00 Noon on the above date to open sealed bids received and to then refer the bids to the Board of Directors for further action at its meeting to be held at 5:00 P.M. on this date at the Mormon Trail Community School District, Humeston, Iowa.

This being the time and place for the opening of bids for the sale of not to exceed $5,515,000 General Obligation School Bonds, Series 2020, the meeting was opened for the receipt of bids for the Bonds.

Sealed bids were filed and listed in the minutes while unopened, as follows:

Name & Address of Bidders:

Robert W. Baird & Co., Inc., Milwaukee, Wisconsin

D.A. Davidson & Co., Denver, Colorado

Northland Securities, Inc., Minneapolis, Minnesota

FHN Financial Capital Markets, Memphis, Tennessee

BOK Financial Securities, Inc., Dallas, Texas

The Superintendent, Secretary of the Board, and Financial Advisor opened the sealed bids received, and the best sealed bid was as follows:

Name & Address of Bidder:  Robert W. Baird & Co., Inc., Milwaukee, Wisconsin

Purchase Price: $5,704,824.75

Net Interest Cost: $1,173,808.58

True Interest Cost:   1.815069%

The Superintendent, Secretary of the Board, and Financial Advisor for the School Board referred the bids to the Board of Directors of the Mormon Trail Community School District for further consideration at its meeting to be held at 5:00 P.M. on this date in the District Office, 502 E. Main Street, Garden Grove, Iowa.

This is the time and place for the sale of General Obligation School Bonds, Series 2020.  The bids were previously received and opened by the Superintendent of Schools, Secretary of the Board, and the Financial Advisor at a meeting held in the Superintendent’s Office at 12:00 Noon on this date.  The following bid was determined by the Superintendent, Secretary of the Board, and Financial Advisor as the best bid received.

Director Bear introduced the following Resolution and moved its adoption.  Director Cromer seconded the motion to adopt.  The roll was called and the vote was:

AYES:

Pat Evans, Marc Smiarowski, Stephanie

Bear, Elizabeth Dachenbach, Jeremy Cromer

NAYS:

None

The President declared the Resolution adopted.

RESOLUTION DIRECTING THE SALE OF $5,515,000 general obligation school bondS, SERIES 2020

WHEREAS, pursuant to notice as required by law, bids have been received at public sale for the Bonds and evaluated; and the best bid was determined:

NOW, THEREFORE, IT IS RESOLVED BY THE Board of Directors OF THE Mormon Trail Community School District:

Section 1.  That the bid for the Bonds was determined by the Superintendent of Schools, Secretary of the Board, and the Financial Advisor to be the best and most favorable bid received.  Bonds are awarded, based on the following bid:

Bidder: Robert W. Baird & Co., Inc. of Milwaukee, Wisconsin

Purchase Price: $5,716,277.80

Net Interest Cost: $1,124,402.20

True Interest Cost:   1.799220%

Section 2.  That the form of contract for the sale of the Bonds is approved and the President and Secretary are authorized and directed to execute the contract for sale of the Bonds on behalf of the School District.

Section 3.  That all acts of the Superintendent of Schools, Secretary of the Board, and Financial Advisor done in furtherance of the sale of the Bonds are ratified and approved. 

Section. 4.  The execution and delivery of the Representation Letter to DTC by the Issuer, in the form presented at this meeting with such changes, omissions, insertions, and revisions as the Secretary shall deem advisable is hereby authorized and execution of the Representation Letter by the Secretary shall be conclusive evidence of such approval.  The Representation Letter shall set forth certain matters with respect to, among other things, notices, consents, and approvals by Bondholders and payments on the Bonds.

PASSED AND APPROVED this 26th day of May, 2020.

There were no discussion items.

Cromer motioned to adjourn the meeting. Bear seconded followed by ayes from Dachenbach, Bear, Cromer, Smiarowski and Evans. 

President Evans closed the meeting at 5:36 p.m. 

The next regularly scheduled meeting of the Mormon Trail Board of Directors will be held June 10, 2020 @ 6:30 pm in the District Office in Garden Grove and/or via ZOOM. 

____________________________ ___________________________

              President, Board of Education               Secretary, Board of Education

_________  _________  

 Date               Date

These minutes are written as recorded by the board secretary and subject to approval at the next regular board meeting.   Peggy Rash, Board Secretary/Treasurer