RESOLUTION OF THE BOARD OF EDUCATION OF THE FRANKLIN COUNTY SCHOOL DISTRICT, AUTHORIZING AND APPROVING THE EXECUTION OF A CONTRACT, LEASE AND OPTION WITH THE FRANKLIN COUNTY SCHOOL DISTRICT FINANCE CORPORATION AND ANY FURTHER NECESSARY INSTRUMENTS; APPROVING CERTAIN ARCHITECTS' PLANS FOR THE ACQUISITION AND CONSTRUCTION OF SCHOOL BUILDING PROJECTS; AND APPROVING THE PLAN OF FINANCING THE COST OF SAID PROJECTS.

Adoption and approval of the above resolution.

Motion Passed:  Adoption and approval of the above resolution. passed with a motion by Stanley Salchli and a second by Mrs. Linda LaFontaine.

In order for the Franklin County School District Finance Corporation to convene the Board must go into recess.

That the Board recess.

Motion Passed:  That the Board recess. passed with a motion by Mrs. Linda LaFontaine and a second by Mr. Doug Crowe.

Election of officers for the Franklin County School District Finance Corporation must be held before the adoption of the bonding resolution. President - William Cofield Vice-President - Stanley Salchli Secretary - Katrina Kinman Treasurer - Ed Breckel

Approval of election of officers as listed above for the Franklin County School District Finance Corporation.

Motion Passed:  Approval of election of officers as listed above for the Franklin County School District Finance Corporation. Moved for approval of the slate of officers. passed with a motion by Mr. Doug Crowe and a second by Mrs. Linda LaFontaine.

A RESOLUTION OF THE BOARD OF DIRECTORS OF THE FRANKLIN COUNTY SCHOOL DISTRICT FINANCE CORPORATION, RELATING TO AND PROVIDING FOR THE ISSUANCE OF $3,875,000 PRINCIPAL AMOUNT (SUBJECT TO A PERMITTED ADJUSTMENT OF $390,000) OF SPECIAL OBLIGATION BONDS (SCHOOL BUILDING REVENUE BONDS) IN ACCORDANCE WITH SECTIONS 58.180 AND 162.120 THROUGH 162.300 AND 162.385 OF THE KENTUCKY REVISED STATUTES TO PROVIDE FUNDS FOR SCHOOL BUILDING PURPOSES, PROVIDING AND DETERMINING THE DUTY OF SAID CORPORATION IN CONNECTION WITH THE OPERATION OF THE SCHOOL PROPERTIES, THE CREATION OF FUNDS SUFFICIENT TO PAY THE PRINCIPAL OF AND INTEREST ON SAID REVENUE BONDS AS AND WHEN THEY MATURE, THE CREATION OF ADEQUATE MAINTENANCE AND INSURANCE FUNDS, AND AUTHORIZING THE EXECUTION OF A LEASE OF SUCH FOREGOING PROPERTIES TO THE BOARD OF EDUCATION OF FRANKLIN COUNTY, KENTUCKY.

Adoption and approval of the resolution as stated above.

Motion Passed:  Adoption and approval of the resolution as stated above. passed with a motion by Mrs. Linda LaFontaine and a second by Stanley Salchli.

That the meeting be adjourned.

Motion Passed:  That the meeting be adjourned. 12:10 p.m. passed with a motion by Mr. Doug Crowe and a second by Stanley Salchli.

That the Board return from recess.

Motion Passed:  That the Board return from recess. 12:10 p.m. passed with a motion by Mrs. Linda LaFontaine and a second by Mr. Doug Crowe.

That the meeting be adjourned.

Motion Passed:  That the meeting be adjourned. 12:11 p.m. passed with a motion by Stanley Salchli and a second by Mrs. Linda LaFontaine.