The regular meeting of the Great Meadows Regional Board of
Education was held on Monday, August 27, 2007, at the
Flag Salute.
ROLL CALL:
Present: Jennifer Cassini,
Maryann Citro, Peggy Faulborn, Robert Jones, Matthew Mowatt, Bernie O’Hara, and
William Vonder Haar.
Absent: Richard Alexander
and Joe Mahal.
There were 4 members of the
public in attendance.
Motion by Jennifer Cassini,
seconded by Peggy Faulborn, to approve the minutes from July 2, 2007.
Motion carried in a
unanimous voice vote.
Motion by Peggy Faulborn,
seconded by Jennifer Cassini, to approve the minutes from July 9, 2007.
Motion carried in a voice
vote with O’Hara abstaining.
Motion by Peggy Faulborn,
seconded by Jennifer Cassini, to approve the minutes from July 23, 2007.
Motion carried in a voice
vote with Citro and Faulborn abstaining.
Motion by Peggy Faulborn, seconded by Maryann Citro,
to accept the Financial Report of the Secretary and Treasurer for the months
ending July 31, 2007, as per copies attached and to certify that as of July 31,
2007, after review of the Secretary’s monthly financial reports (appropriations
section) and upon consultation with the appropriate district officials, that to
the best of my knowledge, no major account or fund has been over expended in
violation of NJAC 6:20-2.12(e) and that sufficient funds are available to meet
the district’s financial obligations for the remainder of the fiscal year.
Motion carried in a unanimous voice vote.
Motion by Jennifer Cassini, seconded by Maryann
Citro, to approve the bills from July 24, 2007 through August 27, 2007 in the
amount of $568,310.22.
Motion carried in a unanimous voice vote.
Motion by Maryann Citro, seconded by Jennifer
Cassini, to approve the cafeteria bills from July 24, 2007 through August 27,
2007 in the amount of $1,179.31.
Motion carried in a unanimous voice vote.
Jason Bing, Superintendents Update.
Noreen Lishak, Curriculum Update.
Public Comment:
None
13.1 Upon recommendation of the Superintendent, motion by Peggy Faulborn, seconded by Jennifer Cassini, to approve the following Personnel & Buildings/Grounds/Transportation items 13.1.1 to 13.1.12.
Motion by William Vonder Haar, seconded by Maryann Citro, to divide item 13.1.1 so the stipend of $2,500.00 for Stephanie Conway is listed as separate item 13.1.13.
Motion carried in a roll call vote approving items 13.1.1 to 13.1.13 with Mowatt abstaining from items 13.1.5, 13.1.6, and 13.1.7 and Vonder Haar voting no to item 13.1.13.
13.1.1
Approve the
following stipends:
Grace Folger, LDTC (Learning Disability/Teacher Consultant) 5 days
x $250.08 per day = $1,250.40
Thomas Schepis, Music Teacher
ABA (Alternative Behavioral Assessment) Training
1 hour x $32.00 per hour = $32.00
ABA Instructional Aide
20 days x 3 hours per day x $32.00 per hour =
$1,920.00
Barbara Wohlgemuth, 4th grade teacher at
Liberty School
IEP meeting – 1.25 hours x $32.00 per hour = $40.00
Karen Ryan, 4th grade teacher at Liberty
School
IEP meeting – 1 hour x $32.00 per hour = $32.00
13.1.2
Accept, with regret, the retirement of Isabel Broadhurst, 1st
grade teacher at Central School, effective October 1, 2007.
13.1.3 Accept the following teaching staff moving on guide effective September 1, 2007:
Jennifer Hypes, 4th grade teacher at
Central School
From Step 5 BS+15 to Step 5 BS+30 at an annual
salary of $45,880.00.
Martha Teixiera, Spanish teacher for District
From Step 3 BS to Step 3 MA at an annual salary
of $46,305.00.
Linda DeJesus, Spanish teacher at Great Meadows
Middle School - From Step 3 BS to Step 3 MA at an annual salary of $46,305.00.
Suzanne
Schmidt,
Special Education teacher at Liberty School - From Step 2 BS to Step 2 BS+15 at an annual
salary of $44,455.00.
13.1.4 Approve Renee McPartlin, Steven Randolph, and Justine Hemberger as substitute teachers for Great Meadows Regional School District for the 2007-2008 school year.
13.1.5 Approve Melissa Kowtko, 1st grade teacher at Central School, effective September 1, 2007 through June 30, 2008 at Step 1 BS+15 at an annual salary of $44,055.00.
13.1.6 Approve Ruth Mueller as maternity leave substitute music teacher for Jamie Long, effective September 1, 2007 through June 30, 2008, at Step 1 BS at an annual salary of $43,130.00.
13.1.7 Approve Katie Gelok, 4th grade teacher at Central School, effective September 1, 2007 through June 30, 2008 at Step 1 BS at an annual salary of $43,130.00.
13.1.8 Authorize the district to submit applications for emergency hiring and applicant’s attestation that he/she has not been convicted of any disqualifying crime pursuant to the provisions of NJSA 18:6-7.1 et. seq. for the following new employees:
Steven Randolph,
Melissa Kowtko,
Justine Hemberger,
Ruth Mueller
13.1.9
Approve the first renewal of Route # FS -0607-1 with First
Student, Inc. of Vienna for the 2007-2008 School Year in the amount of
$41,162.40.
Route Amount
FS –1 $20,581.20
FS –2 $20,581.20
13.1.10
Approve the fourth year renewal of the leased 54-passenger bus
from First Student, Inc. from September 1, 2007 to June 30, 2008 at an annual
rental fee of $15,435.65.
13.1.11
Approve the MOA (Memorandum of Agreement) for the 2007-2008
School Year between Great Meadows Regional School District and the Independence
Township Police Department.
13.1.12
Approve the MOA (Memorandum of Agreement) for the 2007-2008
School Year between Great Meadows Regional School District and the NJ State
Police (Washington Barracks-which covers Liberty Township).
13.1.13
Approve a stipend for Stephanie Conway, School Psychologist, for
the 2006-2007 CST Team Leader in the amount of $2,500.00
13.2 Upon recommendation of the
Superintendent, motion to approve the following Curriculum & Technology item 13.2.1.
Motion by Peggy Faulborn,
seconded by Jennifer Cassini to table item 13.2.1.
Motion carried in a
unanimous roll call vote.
13.2.1
Tabled
13.3 Upon recommendation of the
Superintendent, motion by Peggy Faulborn, seconded by Maryann Citro, to approve
the following Finance/Policy items 13.3.1 to 13.3.12.
Motion carried in a
unanimous roll call vote.
13.3.1 Approve the Settlement Agreement and Mutual Release for the C.T. matter as outlined in the Agreement dated July 18, 2007.
13.3.2 Approve the emergency calling system (automated) through SYNRE VOICE at a total cost of $1,400.00 for a maximum of 5,000 minutes during the 2007-2008 school year.
13.3.3 Approve the 1st reading of Policy #4112.8 – NEPOTISM.
13.3.4 Approve the following:
RESOLUTION OF THE BOARD OF EDUCATION OF THE GREAT
MEADOWS REGIONAL SCHOOL DISTRICT IN THE COUNTY OF WARREN, NEW JERSEY,
AUTHORIZING CERTAIN ACTIONS NECESSARY IN CONNECTION WITH THE SALE AND ISSUANCE
OF NOT TO EXCEED $8,500,000 AGGREGATE PRINCIPAL AMOUNT OF REFUNDING SCHOOL
BONDS AND AUTHORIZING THE APPROPRIATE OFFICIALS TO DO ALL ACTS AND THINGS
DEEMED NECESSARY AND ADVISABLE IN CONNECTION WITH THE SALE, ISSUANCE AND
DELIVERY OF SAID BONDS
WHEREAS, in October 1998, the Board of Education of the Great Meadows Regional School District in the County of Warren, New Jersey (the “Board” when referring to the governing body and the “School District” when referring to the territorial boundaries governed by the Board) issued $8,995,000 aggregate principal amount of tax-exempt school bonds (the “1998 School Bonds”); and
WHEREAS, the Board has determined that the current tax-exempt interest rate environment may enable it to realize going-forward debt service savings for the School District property taxpayers through the issuance by the Board of Refunding School Bonds, Series 2007 (the “Refunding School Bonds”) to refund all or a portion of the Board’s outstanding callable 1998 School Bonds in the amount of $7,945,000 maturing on or after January 15, 2009 (the “Callable Bonds”); and
WHEREAS, the Board, pursuant to a refunding school bond
ordinance (the “Refunding Bond Ordinance”) introduced on first reading by
resolution of the Board on June 25, 2007, authorized the issuance of the
Refunding School Bonds for the purpose of refunding the Callable Bonds; and
WHEREAS, the Board, pursuant
to a resolution duly adopted by the Board on June 25, 2007, authorized the
filing of an application with the Local Finance Board, in the Division of Local
Government Services, New Jersey Department of Community Affairs (the “Local
Finance Board”), in accordance with N.J.S.A. 18A:24-61 et seq.,
seeking the Local Finance Board’s consent to enact and adopt the Refunding Bond
Ordinance and its endorsement to be placed thereon and to authorize the
issuance of the Refunding School Bonds; and
WHEREAS, on August 8,
2007, the Local Finance Board considered and approved the Board’s application
in connection with the issuance of the Refunding School Bonds and consented to
the Board’s adoption and enactment of the Refunding Bond Ordinance; and
WHEREAS, on the date
hereof, the Board has held a public hearing on the Refunding Bond Ordinance;
and
WHEREAS, the Board
has determined to issue and sell such Refunding School Bonds in accordance with
the consent granted by the Local Finance Board; and
WHEREAS, the Board
now desires to finally adopt the Refunding Bond Ordinance and to authorize
certain actions in connection with the sale and issuance of the Refunding
School Bonds.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF EDUCATION OF
THE GREAT MEADOWS REGIONAL SCHOOL DISTRICT IN THE COUNTY OF WARREN, NEW JERSEY,
AS FOLLOWS:
SECTION 1. The Refunding Bond Ordinance is
hereby adopted and shall take effect immediately.
SECTION 2. The
Board hereby delegates to the Business Administrator/Board Secretary the
authority to appoint an underwriter in consultation with the Financial Advisor
(as herein defined) (the “Underwriter”) and the Refunding School Bonds are
hereby authorized to be sold to said Underwriter and Capital Financial Advisors
Inc, Mount Laurel, New Jersey, is hereby
appointed as the Board’s Financial Advisor (the “Financial Advisor”) in
connection with this issuance.
SECTION 3. There
is hereby further delegated to the Business Administrator/Board Secretary,
subject to the limitations contained herein and in consultation with Wilentz,
Goldman & Spitzer, P.A., Woodbridge, New Jersey, Bond Counsel to the Board
(“Bond Counsel”) and the Financial Advisor, the power with respect to the
Refunding School Bonds to determine and carry out the following:
a)
the sale of the Refunding School Bonds at private sale,
provided that the purchase price paid by the purchaser thereof shall not be
less than ninety-five percent (95%) of the principal amount of the Refunding
School Bonds so sold;
b)
the principal amount of Refunding School Bonds to be
issued, provided that (i) such amount shall not exceed $8,500,000, and (ii)
such amount shall not exceed the amount necessary to pay the costs of issuance
associated with the Refunding School Bonds and to fund the deposit to the
escrow fund as set forth in the Escrow Deposit Agreement (as defined herein) in
an amount that, when invested, will be sufficient to provide for the timely
payments required for the Callable Bonds;
c)
the maturity dates and the principal amount of each
maturity or sinking fund redemption amount of the Refunding School Bonds,
provided that no Refunding School Bonds refunding the Callable Bonds shall mature
later than January 15, 2025.
d)
the interest payment dates and the interest rates on the
Refunding School Bonds, provided that the true interest cost on the Refunding
School Bonds shall produce a present value debt service savings of at least
three percent (3%) of the principal amount of the Callable Bonds;
e)
the denomination or denominations of and the manner of
numbering and lettering the Refunding School Bonds, provided that all Refunding
School Bonds of like maturity shall be identical in all respects, except as to
denominations, amounts, numbers and letters;
f)
provisions for the sale or exchange of the Refunding
School Bonds and for the delivery thereof;
g)
the form of the Refunding School Bonds shall be
substantially in the form set forth in Exhibit A attached hereto, with
such additions, deletions and omissions as may be necessary for the Board to
market the Refunding School Bonds in accordance with the requirements of The
Depository Trust Company, New York, New York (“DTC”) and the Purchase Contract
(as defined herein);
h)
the direction for the application and investment of the
proceeds of the Refunding School Bonds;
i)
the terms of redemption of the Refunding School Bonds;
and
j)
any other provisions deemed advisable by the Business
Administrator/Board Secretary not in conflict with the provisions hereof.
The
Business Administrator/Board Secretary shall execute a certificate evidencing
the determinations or other actions taken pursuant to the authority granted
hereunder, and any such certificate shall be conclusive evidence of the actions
or determinations of the Business Administrator/Board Secretary as to the
matters stated therein.
SECTION 4. The President and Vice-President of the Board are hereby authorized
and directed to execute by manual or facsimile signature the Refunding School
Bonds in the name of the Board and the corporate seal (or facsimile thereof)
shall be thereunto affixed, imprinted, engraved or otherwise reproduced
thereon. The Business
Administrator/Board Secretary is hereby authorized and directed to attest to
such signature and to the affixing of said seal to the Refunding School Bonds.
SECTION 5.The
Business Administrator/Board Secretary, in consultation with Bond Counsel, is
hereby authorized and directed to approve the Bond Purchase Contract (the
“Purchase Contract”) for the Refunding School Bonds, to be dated the date of sale
of such Refunding School Bonds and to be executed by the Underwriter. The President, Vice-President and Business
Administrator/Board Secretary are hereby authorized and directed on behalf of
the Board to execute and deliver said Purchase Contract.
SECTION 6.The
Business Administrator/Board Secretary, in consultation with Bond Counsel and
the Financial Advisor, is hereby authorized and directed to apply and qualify
for the issuance of any policy of municipal bond insurance and to approve a
Commitment for Municipal Bond Insurance (the “Commitment”) setting forth the
terms and conditions (including premium charges) upon which a bond insurer
proposes to issue its bond insurance policy covering the Refunding School
Bonds. The Business Administrator/Board
Secretary is hereby authorized and directed on behalf of the Board to execute
and deliver said Commitment.
SECTION 7.The
Business Administrator/Board Secretary, in consultation with Bond Counsel and
the Financial Advisor, is hereby authorized and directed to approve the Escrow
Deposit Agreement (the “Escrow Deposit Agreement”) with an escrow agent (the
“Escrow Agent”) to be selected by the Business Administrator/Board Secretary,
in consultation with Bond Counsel and the Financial Advisor, with respect to the
Callable Bonds, to be dated the date of the closing on the Refunding School
Bonds. The President and Vice-President
of the Board are hereby authorized and directed to execute and deliver the
Escrow Deposit Agreement in the name of the Board and the corporate seal (or
facsimile thereof) shall be thereunto affixed, imprinted, engraved or otherwise
reproduced thereon. The Business
Administrator/Board Secretary is hereby authorized and directed to attest to
such signature and to the affixing of said seal to the Escrow Deposit
Agreement. The Underwriter is hereby
authorized to act as the agent and representative of the Board for the purpose
of subscribing for the purchase of United States Treasury Securities – State and
Local Government Series to be held by the Escrow Agent.
SECTION 8. The Business Administrator/Board
Secretary is hereby authorized and directed to select a verification agent (the
“Verification Agent”), if required, in consultation with Bond Counsel and the
Financial Advisor, with respect to the Callable Bonds. The Verification Agent shall prepare the
verification report required to verify the sufficiency of the escrowed monies
to refund the Callable Bonds.
SECTION 9. It is
hereby delegated to the Business Administrator/Board Secretary the authority to
“deem final” (as defined under the Rule (as hereinafter defined)) a Preliminary
Official Statement (the “Preliminary Official Statement”) and such official is
hereby authorized and directed to execute and deliver a certificate to the
Underwriter evidencing the same. The
preparation and distribution by the Board, in consultation with Bond Counsel,
the Financial Advisor and counsel to the Underwriter, of a Preliminary Official
Statement for the Refunding School Bonds to be used in connection with the
marketing of such Refunding School Bonds, is hereby approved and any previous
actions undertaken by various representatives and officers of the Board with
respect thereto are hereby ratified and confirmed. Upon the sale of the Refunding School Bonds
to the Underwriter, the Preliminary Official Statement shall be so modified by
the Business Administrator/Board Secretary, in consultation with Bond Counsel
and the Financial Advisor, to reflect the effect of the pricing of the
Refunding School Bonds and the Purchase Contract and any other revision not
inconsistent with the substance thereof deemed necessary or advisable by Bond
Counsel and the Financial Advisor, and said Preliminary Official Statement as
so modified shall constitute the final Official Statement (the “Official
Statement”). The Business
Administrator/Board Secretary is authorized and directed on behalf of the Board
to execute and deliver said Official Statement.
SECTION 10. The
Board hereby covenants and agrees that it will comply with and carry out all of
the provisions of a Continuing Disclosure Certificate (the “Certificate”) which
will set forth the obligation of the Board to file budgetary, financial and
operating data on an annual basis and notices of certain enumerated events deemed
material in accordance with the provision of the Rule. The Business Administrator/Board Secretary is
hereby authorized and directed to execute and deliver this Certificate
evidencing the Board’s undertaking with respect to the Rule. Notwithstanding the foregoing, failure of the
Board to comply with the Certificate shall not be considered a default on the
Refunding School Bonds; however, any Bondholder may take such actions as may be
necessary and appropriate, including seeking mandamus or specific performance
to cause the Board to comply with its obligations hereunder.
SECTION 11.The
President, Vice-President and Business Administrator/Board Secretary or any
other appropriate officer or representative of the Board, are hereby authorized
and directed to execute and deliver any and all documents and to do and cause
to be done any and all acts and things necessary or proper for carrying out the
transactions contemplated by this resolution, the Purchase Contract, the
Certificate, the Escrow Deposit Agreement and the Commitment, and for the
authorization, sale and issuance of the Refunding School Bonds. The execution by such officials and officers
of any such documents, with changes, insertions or omissions approved by the
Business Administrator/Board Secretary, in consultation with Bond Counsel and
the Financial Advisor, as hereinabove provided, shall be conclusive and no
further ratification or other action by the Board shall be required with
respect thereto.
SECTION 12.The
Board hereby covenants to maintain the exclusion from gross income under
Section 103(a) of the Internal Revenue Code of 1986, as amended, of the
interest on the Refunding School Bonds.
SECTION 13 .The
Refunding School Bonds will be designated as "qualified tax-exempt
obligations" for purposes of section 265(b)(3)(B)(ii) of the Code.
SECTION 14.All
other resolutions adopted in connection with the Refunding School Bonds and
inconsistent herewith are hereby rescinded to the extent of such inconsistency.
SECTION 15.This
resolution shall take effect immediately.
The foregoing resolution was adopted by the following roll
call vote on August 27, 2007.
Recorded
Vote
AYE: 7
NAY: 0
ABSTAIN: 0
ABSENT: 2
CERTIFICATION
I, Julie mumaw,
Business Administrator/Board Secretary of The Board of Education of the Great
Meadows Regional School District in the County of Warren, New Jersey (the
“Board”), DO HEREBY CERTIFY that the annexed resolution entitled, “RESOLUTION OF THE BOARD
OF EDUCATION OF THE GREAT MEADOWS REGIONAL SCHOOL DISTRICT IN THE COUNTY OF
WARREN, NEW JERSEY, AUTHORIZING CERTAIN ACTIONS NECESSARY IN CONNECTION WITH
THE SALE AND ISSUANCE OF NOT TO EXCEED $8,500,000 AGGREGATE PRINCIPAL AMOUNT OF
REFUNDING SCHOOL BONDS AND AUTHORIZING THE APPROPRIATE OFFICIALS TO DO ALL ACTS
AND THINGS DEEMED NECESSARY AND ADVISABLE IN CONNECTION WITH THE SALE, ISSUANCE
AND DELIVERY OF SAID BONDS”, is a copy of a resolution which was duly
adopted by the Board at a meeting duly called and held on August 27, 2007, in
full compliance with the Open Public Meetings Act, N.J.S.A. 10:4-6 et seq.,
at which meeting a quorum was present and acting throughout and which
resolution has been compared by me with the original thereof as contained in
the minutes as officially recorded in my office in the Minute Book of the Board
and is a true, complete and correct copy thereof and the aforesaid resolution
has not been repealed, amended or rescinded but remains in full force and
effect on and as of the date hereof.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
corporate seal of said Board this _____ day of _______________, 2007.
(SEAL)
julie
mumaw ,
Business Administrator/
Board Secretary