JEFFERSON COUNTY SCHOOL DISTRICT FINANCE CORPORATION

Called Meeting of the Board of Directors
September 10, 2012

This called meeting of the Board of Directors of the Jefferson County School District Finance Corporation was called to order on Monday, September 10, 2012, at the VanHoose Education Center, 3332 Newburg Road, Louisville, Kentucky, 40218 at 6:45 p.m.

This action is necessary for the orderly operation of the Corporation.

President Donna Hargens recommends that the minutes of the meeting of the Board of Directors which was held on February 13, 2012, as presented, be and hereby are ratified and approved, and shall be entered into the minutes book of the Corporation.

Motion Passed:  President Donna Hargens recommends that the minutes of the meeting of the Board of Directors which was held on February 13, 2012, as presented, be and hereby are ratified and approved, and shall be entered into the minutes book of the Corporation. The recommendation passed with a motion by Mrs. Carol Ann Haddad and a second by Mr. Larry Hujo.

This action is necessary for the orderly operation of the Corporation.

President Donna Hargens recommends that the following persons be elected to serve in the offices of the Corporation described below, effective immediately and until their successors are elected and have qualified:

President—Donna M. Hargens
Vice-President—Diane Porter
Secretary—Stephen P. Imhoff
Director—Larry Hujo
Director—Debbie Wesslund
Director—Carol A. Haddad
Director—Joseph L. Hardesty
Director—Linda Duncan
Treasurer—J. Cordelia Hardin
Assistant Treasurer—Edward D. Muns
Assistant Treasurer—Lewis Hammond

Motion Passed:  President Donna Hargens recommends that the following persons be elected to serve in the offices of the Corporation described below, effective immediately and until their successors are elected and have qualified: President—Donna M. Hargens Vice-President—Diane Porter Secretary—Stephen P. Imhoff Director—Larry Hujo Director—Debbie Wesslund Director—Carol A. Haddad Director—Joseph L. Hardesty Director—Linda Duncan Treasurer—J. Cordelia Hardin Assistant Treasurer—Edward D. Muns Assistant Treasurer—Lewis Hammond The recommendation passed with a motion by Mrs. Carol Ann Haddad and a second by Mrs. Debbie Wesslund.

This action is necessary in order to effect the issuance of the Corporation’s (i) School Building Revenue Bonds, Series 2012D (the “Series 2012D Bonds”) and (ii) School Building Revenue Refunding Bonds, Series 2012C (the “Series 2012C Bonds” and together with the Series 2012D Bonds, the “Bonds”). 

The current interest rate on the outstanding bonds to be refunded by the Series 2012C Bonds ranges from 4.000 percent to 4.375 percent. 

The refunding bonds authorized by the attached Resolutions are expected to capture substantial savings available at the current market’s lower long-term interest rates.

President Donna Hargens recommends that the Board of Directors approve the attached Bond Issue Approvals and Authorizations.

Motion Passed:  President Donna Hargens recommends that the Board of Directors approve the attached Bond Issue Approvals and Authorizations. The recommendation passed with a motion by Mrs. Linda Duncan and a second by Mr. Larry Hujo.

A motion to adjourn the September 10, 2012, meeting of the Jefferson County School District Finance Corporation

Motion Passed:  A motion to adjourn the September 10, 2012, meeting of the Jefferson County School District Finance Corporation passed with a motion by Ms. Diane Porter and a second by Mrs. Carol Ann Haddad.