School District No. 24 of Calcasieu Parish- County
NOTICE OF DEFEASANCE AND CALL FOR REDEMPTION
GENERAL OBLIGATION PUBLIC SCHOOLIMPROVEMENT BONDS
DATED AUGUST 15, 2012 ON ORIGINAL ISSUE
SCHOOL DISTRICT NO. 24
OF CALCASIEU PARISH, LOUISIANA
NOTICE IS HEREBY GIVEN that, pursuant to a resolution adopted on July 14, 2020 and a resolution to be considered for adoption on January 12, 2021 (collectively, the "Bond Resolution"), by the Calcasieu Parish School Board, on behalf of School District No. 24 of Calcasieu Parish, Louisiana, acting as the governing authority of School District No. 24 (the "District"), has authorized issuance of $3,570,000 of its General Obligation Refunding Bonds, Series 2021, to be dated the date of their delivery (the "Bonds"), a portion of the proceeds of which shall provide sufficient moneys to pay the interest through and the principal on February 15, 2021, on the District's General Obligation Public School Improvement Bonds, 2012 Series, dated August 15, 2012 on original issue, consisting of all outstanding bonds of said issue (these maturities herein collectively referred to as the "Refunded 2012 Bonds"), as hereinafter set forth.
In accordance with the provisions of Subparts A and B of Part II of Chapter 4 of Subtitle II of Title 39 of the Louisiana Revised Statues of 1950, as amended (La. R.S. 39:501 -531), and other constitutional and statutory authority supplemental thereto, the Refunded 2012 Bonds are defeased and deemed to be paid, and will no longer be secured by or entitled to the benefits of the resolution of the District providing for their issuance. In accordance with the resolution providing for their issuance the Refunded 2012 Bonds are to be called for redemption at the earliest possible time, but not later than February 15, 2021.
NOTICE IS HEREBY FURTHER GIVEN that the Refunded 2012 Bonds which have been so defeased are hereby further called for redemption, as follows:
The REFUNDED 2012 BONDS ARE TO BE REDEEMED ON FEBRUARY 15, 2021 at a redemption price of 100% of the principal amount thereof and accrued interest to the call date, upon presentation and surrender of said bonds at the principal corporate trust office of Argent Trust Company, Ruston, Louisiana, the paying agent therefor.
Said Refunded 2012 Bonds which are to be redeemed, as shown in Exhibit A attached hereto, shall be presented for payment at the place specified above, on the call date specified above, after which call date no further interest shall accrue or be paid on said outstanding bonds.
The owners of the Refunded 2012 Bonds which are hereby called for redemption pursuant to the terms of this notice are hereby notified and requested to present such Bonds for payment and redemption on the date and at the place specified above. The Refunded 2012 Bonds called for redemption will be paid from funds made available to the District upon issuance of the Bonds.
SCHOOL DISTRICT NO. 24 OF
CALCASIEU PARISH, LOUISIANA
BY: /s/ Karl Bruchhaus
Karl Bruchhaus, Superintendent
Calcasieu Parish School Board
Date: December 15, 2020
OUTSTANDING BONDS TO BE REFUNDED
GENERAL OBLIGATION PUBLIC SCHOOL IMPROVEMENT BONDS
OF SCHOOL DISTRICT NO. 24
OF CALCASIEU PARISH, LOUISIANA
MATURITY INTEREST CUSIP
DATE PRINCIPAL RATE NO.
08/15/21 $ 220,000 2.00% 128494 AU5
08/15/22 230,000 2.25% 128494 AV3
08/15/23 245,000 2.25% 128494 AW1
08/15/24 260,000 2.50% 128494 AX9
08/15/25 275,000 2.50% 128494 AY7
08/15/26 285,000 2.50% 128494 AZ4
08/15/27 305,000 2.75% 128494 BA8
08/15/28 320,000 2.75% 128494 BB6
08/15/29 335,000 2.75% 128494 BC4
08/15/30 360,000 2.75% 128494 BD2
08/15/31 375,000 2.75% 128494 BE0
08/15/32 395,000 2.85% 128494 BF7
The Refunded 2012 Bonds will be called for redemption on February 15, 2021, at a price of par and accrued interest through the redemption date.
December 28, 2020