City Council

PROCEEDINGS OF THE CITY COUNCIL OF BOSSIER CITY STATE OF LOUISIANA TAKEN AT A REGULAR MEETING OCTOBER 19, 2021 The City Council of the City of Bossier City, State of Louisiana, met in Regular session in Council Chambers, 620 Benton Road, Bossier City, Louisiana, October 19, 2021 at 3:00 PM Invocation was given by Council Member Scott Irwin Pledge of Allegiance led by Council Member Jeff Free Roll Call as follows: Present: Honorable, President Don Williams., Honorable Councilors David Montgomery, Jr., Chris Smith, Scott Irwin, Jeffery Darby, Jeff Free and Vince Maggio Also Present: Mayor, Thomas Chandler, City Attorney, Charles Jacobs and City Clerk, Phyllis McGraw City Clerk, Phyllis McGraw, read statement about decorum during meeting and public participation in the meeting. By: Mr. Irwin Motion to approve Minutes of the October 5, 2021, Regular Meeting and dispense with the reading Seconded by Mr. Darby No comment Vote in favor of motion is unanimous By: Mr. Smith Motion to approve Agenda Seconded by Mr. Montgomery, Jr. No comment Vote in favor of motion is unanimous Ceremonial Matters - Substitute Police Chief Chris Estess and the council awarded Police Officers that were part of a recent robbery and high speed chase arrest. These officers were commended on their dedication and the integrity in which they do their job. Bids – Agenda Item called – Witness opening of sealed bids for Bid #21-1304 - 704 Yarborough Street Demolition 3 Gen Construction $ 9,415.00 Pulley Construction $12,600.00 Red Tail Contracting, LLC $ 8,458.00 By: Mr. Irwin Motion to approve reading of bids Seconded by Mr. Maggio No comment Vote in favor of motion is unanimous Unfinished Business – The following Ordinance offered and adopted: Ordinance No. 124 Of 2021 AN ORDINANCE RECOGNIZING THE ATTACHED LIST OF BOSSIER CITY MARSHAL VEHICLES SURPLUS TO THE NEEDS OF THE CITY OF BOSSIER CITY.  WHEREAS, the Bossier City Marshal’s Office owns and is in possession of the following listed vehicles: 1. 2009 Chevrolet Tahoe VIN # 1GNEC030X9R122471 2. 2008 Ford Crown Victoria VIN # 2FAFP71V98X125669 3. 2007 Dodge Durango VIN # 1D8HD38P07F543531 4. 2006 Ford Crown Victoria VIN # 2FAFP71W96X103693 WHEREAS, vehicles #1 (2009 Chevrolet Tahoe VIN # 1GNEC030X9R122471) and #2 (2008 Ford Crown Victoria VIN # 2FAFP71V98X125669) are high mileage vehicles and are no longer fit for use by the Bossier City Marshal Office; and WHEREAS, the condition and high mileage rates of vehicle #1 and #2 makes them unfit and impractical for sale at auction; NOW, THEREFORE, BE IT ORDAINED, by the City Council of Bossier City, Louisiana, in regular session convened, that the Bossier City Council declares said vehicle #1 surplus to the needs of the City and hereby grants the Bossier City Marshal office the authority to donate said vehicle to the Benton Fire Department and vehicle #2 to the Heflin Police Department as authorized by law for public use of said vehicles. City Marshal, Jimmie A. Whitman shall be further authorized to execute any and all documentation necessary to effect said donations; and WHEREAS, vehicle #3 (2007 Dodge Durango VIN # 1D8HD38P07F543531), and vehicle #4 (2006 Ford Crown Victoria VIN # 2FAFP71W96X103693) are no longer serviceable but in better condition and having a lesser mileage rate than vehicle one and thus possessing some retail value; BE IT FURTHER ORDAINED, vehicle #3 (2007 Dodge Durango VIN # 1D8HD38P07F543531), and vehicle #4 (2006 Ford Crown Victoria VIN # 2FAFP71W96X103693) be sold at auction as authorized and allowed by Louisiana law with City Marshal, Jimmie A. Whitman being further authorized to execute any and all documentation necessary to effect said sales; BE IT FURTHER ORDAINED, that the funds realized by said sale be property of the Bossier City Marshal Office and allowed to be used for any public purpose thereof.  The above and foregoing Ordinance was read in full at open and legal session convened, was on motion of Mr. David Montgomery, Jr, and seconded by Mr. Chris Smith, and adopted on the 19th, day of October, 2021, by the following vote: AYES: Mr. Montgomery, Jr., Mr. Smith, Mr. Irwin, Mr. Darby, Mr. Williams, Mr. Free and Mr. Maggio NAYS: none ABSENT: none ABSTAIN: none ____________________________ Don Williams, President ____________________________ Phyllis McGraw, City Clerk The following Ordinance offered and adopted: ORDINANCE NO. 125 OF 2021 ADOPT AN ORDINANCE REAPPROPRIATE $6,000.00 FROM FUND 497-2017 SALES TAX BOND (INNOVATION DRIVE) TO CONTRACT WITH NEEL-SCHAFFER INC TO PROVIDE A SPEED STUDY ALONG SWAN LAKE ROAD BETWEEN US. 80 AND MODICA LOTT ROAD. WHEREAS; there is a surplus of fund in Fund 497-2017 Sales Tax Bond used for the completion of Innovation Drive; and WHEREAS; there is a need for a speed study along Swan Lake Road, between U.S. 80 and Modica Lott Road; and WHEREAS; Neel-Schaffer Inc., proposes to perform the necessary speed study at five (5) locations along Swan Lake Road for a fee of $6,000.00; and NOW, THEREFORE, BE IT RESOLVED, in regular session convened that the City Council of Bossier City, Louisiana, does hereby appropriate $6,000.00 from Fund 497-2017 Sale Tax Bond (Innovation Drive) to contract with Neel-Schaffer Inc., to provide a speed study along Swan Lake Road between U.S. 80 and Modica Lott Road. The above and foregoing Ordinance was read in full at open and legal session convened, was on motion of Mr. Jeff Free, and seconded by Mr. David Montgomery, Jr., and adopted on the 19th, day of October, 2021, by the following vote: AYES: Mr. Montgomery, Jr., Mr. Smith, Mr. Irwin, Mr. Darby, Mr. Williams, Mr. Free and Mr. Maggio NAYS: none ABSENT: none ABSTAIN: none ____________________________ Don Williams, President ____________________________ Phyllis McGraw, City Clerk The following Ordinance offered and adopted: ORDINANCE NO. 126 OF 2021 AN ORDINANCE TO REAPPROPRIATE $21,000.00 FROM FUND 497-2017 SALES TAX BOND (INNOVATION DRIVE) TO CONTRACT WITH CIVIL DESIGN GROUP, LLC TO PROVIDE A TRAFFIC STUDY FOR TURN LANES LOCATED ON BARKSDALE BLVD TO VIOLET AVENUE AND ROSSIE LEE DRIVE. WHEREAS; there is a surplus of fund in Fund 497-2017 Sales Tax Bond used for the completion of Innovation Drive; and WHEREAS; there is a need for a survey and Engineering study for turn lanes located on Barksdale Blvd. to Violet Avenue and Rossie Lee Drive; and WHEREAS; Civil Design Group LLC proposes to perform the necessary survey and study for a fee of $21,000.00; and NOW, THEREFORE, BE IT RESOLVED, in regular session convened that the City Council of Bossier City, Louisiana, does hereby appropriate $21,000.00 from Fund 497-2017 Sale Tax Bond (Innovation Drive) to contract with Civil Design Group LLC to provide a traffic study for turn lanes located on Barksdale Blvd. to Violet Avenue and Rossie Lee Drive. The above and foregoing Ordinance was read in full at open and legal session convened, was on motion of Mr. Scott Irwin, and seconded by Mr. David Montgomery, Jr., and adopted on the 19th, day of October, 2021, by the following vote: AYES: Mr. Montgomery, Jr., Mr. Smith, Mr. Irwin, Mr. Darby, Mr. Williams, Mr. Free and Mr. Maggio NAYS: none ABSENT: none ABSTAIN: none ____________________________ Don Williams, President ____________________________ Phyllis McGraw, City Clerk The following Ordinance offered and adopted: Ordinance No. 127 Of 2021 AN ORDINANCE AUTHORIZING MAYOR THOMAS H. CHANDLER TO EXECUTE THE ATTACHED COOPERATIVE ENDEAVOR AGREEMENT BETWEEN THE CITY OF BOSSIER CITY AND THE LOUISIANA DEPARTMENT OF THE TREASURY AND THE STATE OF LOUISIANA WHEREAS, Act No. 120 of the 2021 regular Louisiana Legislative session appropriated $50,000 to the Bossier City Fire Department; and WHEREAS, Governor Edwards issued Executive Order JBE 2016-38 that requires a comprehensive cooperative endeavor agreement between the transferring agency and receiving entity in order to receive funding from the line item appropriations; and NOW, THEREFORE, BE IT ORDAINED by the City Council of Bossier City, Louisiana, in regular session convened, that Mayor Thomas H. Chandler, on behalf of the City of Bossier City is hereby authorized to execute the attached cooperative endeavor agreement between the City of Bossier City and the Louisiana Department of the Treasury and the State of Louisiana. The above and foregoing Ordinance was read in full at open and legal session convened, was on motion of Mr. Jeffery Darby, and seconded by Mr. Chris Smith, and adopted on the 19th, day of October, 2021, by the following vote: AYES: Mr. Montgomery, Jr., Mr. Smith, Mr. Irwin, Mr. Darby, Mr. Williams, Mr. Free and Mr. Maggio NAYS: none ABSENT: none ABSTAIN: none ____________________________ Don Williams, President ____________________________ Phyllis McGraw, City Clerk Agenda Item called - Adopt an Ordinance authorizing the City of Bossier City, State of Louisiana, to proceed with a not to exceed $125,000,000 financing through the Louisiana Local Governmental Facilities and Community Development Authority for the purpose of refunding certain bonds of the authority; and providing for other matters in connection therewith. Mr. Smith referred to a Legislative Auditor report stating competitive bidding is good for municipalities. He wants to see the City do more competitive bidding. Mr. Montgomery responded addressing Mr. Smith’s concerns and explained on where further information could be obtained. Public comments from David Crockett on need for competitive bidding and more discussion. The following ordinance having been introduced at a duly convened meeting on October 5, 2021, and notice of its introduction having been published, as required by Section 3.14 of the City Charter, was offered for final adoption by Mr. Mr. David Montgomery, Jr. and seconded by Mr. Mr. Scott Irwin: ORDINANCE NO. 128 OF 2021 AN ORDINANCE AUTHORIZING THE CITY OF BOSSIER CITY, STATE OF LOUISIANA, TO PROCEED WITH A NOT TO EXCEED $125,000,000 FINANCING THROUGH THE LOUISIANA LOCAL GOVERNMENT ENVIRONMENTAL FACILITIES AND COMMUNITY DEVELOPMENT AUTHORITY FOR THE PURPOSE OF REFUNDING CERTAIN BONDS OF THE AUTHORITY; AND PROVIDING FOR OTHER MATTERS IN CONNECTION THEREWITH. WHEREAS, Chapter 10-D of Title 33 of the Louisiana Revised Statutes of 1950, as amended, comprised of La. R.S. 33:4548.1 through 33:4548.16, inclusive, is known as the Louisiana Local Government Environmental Facilities and Community Development Authority Act (the "Act"); and WHEREAS, the City of Bossier City, State of Louisiana (the "City") is a participating political subdivision of the Louisiana Local Government Environmental Facilities and Community Development Authority (the "Authority") in accordance with the Act; and WHEREAS, pursuant to the provisions of the Act, and other constitutional and statutory authority, the Authority has heretofore issued its (i) Revenue Bonds (City of Bossier City, Louisiana Project), Series 2014 (the "Series 2014 Revenue Bonds"), of which $11,765,000 is outstanding, (ii) Revenue Refunding Bonds (City of Bossier City, Louisiana Project), Series 2015 (the "Series 2015 Revenue Refunding Bonds"), of which $72,490,000 is outstanding, (iii) Revenue Bonds (City of Bossier City, Louisiana Project), Series 2015 (the "Series 2015 Revenue Bonds"), of which $29,985,000 is outstanding, and (iv) Revenue Bonds (City of Bossier City, Louisiana Project), Series 2015A (the "Series 2015A Revenue Bonds"), of which $14,370,000 is outstanding; and WHEREAS, the Authority loaned the proceeds of (i) the Series 2014 Revenue Bonds to the City pursuant to a Loan Agreement dated as of September 1, 2014, (ii) the Series 2015 Revenue Refunding Bonds to the City pursuant to a Loan Agreement dated as of March 1, 2015, (iii) the Series 2015 Revenue Bonds to the City pursuant to a Loan Agreement dated as of June 1, 2015, and (iv) the Series 2015A Revenue Bonds to the City pursuant to a Loan Agreement dated as of October 1, 2015, each by and between the Authority and the City; and WHEREAS, this City Council of the City of Bossier City, State of Louisiana (the "Governing Authority" ), acting as governing authority of the City, has determined that it is in the City’s best interest to request the Authority to authorize, sell and issue the Authority's not to exceed One Hundred Twenty-Five Million Dollars ($125,000,000) Taxable Revenue Refunding Bonds (City of Bossier City, Louisiana Project) (the "Bonds"), in one or more series, the proceeds of which will be loaned by the Authority to the City (the "Loan") pursuant to the provisions of one or more Loan and Assignment Agreements by and between the Authority and the City (each a "Loan Agreement"), which Loan proceeds will be used by the City for the purposes of refunding all or a portion of the (i) Series 2014 Revenue Bonds, consisting of those bonds maturing September 1, 2025 and thereafter, (ii) Series 2015 Revenue Refunding Bonds, consisting of those bonds maturing November 1, 2026 and thereafter, (iii) Series 2015 Revenue Bonds, consisting of those bonds maturing June 1, 2026 and thereafter, and (iv) Series 2015A Revenue Bonds, consisting of those bonds maturing November 1, 2026 and thereafter (such refunded maturities are collectively referred to herein as the "Refunded Bonds"), and (ii) paying the costs of issuance of the Bonds (collectively, the "Project"); and WHEREAS, for the payment and security of the Bonds, the Loan Agreement will provide for a pledge by the City of the funds, income, revenue, fees, receipts or charges of any nature from any source whatsoever on deposit with or accruing from time to time to the City, provided that no such funds, income, revenue, fees, receipts or charges shall be so included which have been or are in the future legally dedicated and required for other purposes by the electorate, by the terms of specific grants, by the terms of particular obligations issued or to be issued (to the extent pledged or budgeted to pay debt service on such other obligations) or by operation of law (such amounts being the "Lawfully Available Funds"), thereby obligating the City to pay to the Authority amounts necessary to allow the Authority to make principal and interest payments on the Bonds;  NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Bossier City, State of Louisiana, acting as governing authority of the City of Bossier City, State of Louisiana, that: SECTION 1. The City hereby requests that the Authority authorize and issue the Authority's Revenue Refunding Bonds (City of Bossier City, Louisiana Project) (the "Bonds"), in one or more series in an aggregate principal amount not to exceed $125,000,000, the proceeds of which shall be loaned to the City pursuant to the Loan Agreement and will be used by the City to finance the Project. SECTION 2. The Bonds shall be issued and sold by the Authority only as fully registered bonds in the denominations of $5,000 or any integral multiple in excess thereof. The Bonds shall mature not later than November 1, 2040 and shall bear interest at a rate or rates not to exceed five percent (5%) per annum. SECTION 3. The selection by the Authority of Stifel, Nicolaus & Company, Baton Rouge, Louisiana and Sisung Securities Corporation, New Orleans, Louisiana, as co- underwriters/placement agents (collectively, the "Underwriter") as purchaser of the Bonds is hereby acknowledged and approved by the Governing Authority, provided that the Underwriter’s proposal does not exceed the parameters set forth herein, and the Mayor, City Clerk, Director of Finance and/or President of the Governing Authority (collectively, the "Executive Officers") are hereby authorized to execute the Bond Purchase Agreement and other City Documents, as described in Section 4 hereof, in order to evidence such approval. SECTION 4. The form and terms of the Loan Agreement, the Bond Purchase Agreement, the Continuing Disclosure Certificate, the Escrow Deposit Agreement and all other ancillary documents necessary or required in connection with the Bonds (the "City Documents") are hereby authorized and approved in the forms approved by bond counsel to the Authority. The Loan Agreement shall obligate the City to pay to the Authority amounts necessary from Lawfully Available Funds to allow the Authority to make principal and interest payments on the Bonds and to secure the payment thereof. The City does hereby irrevocably and irrepealably pledge and dedicate its Lawfully Available Funds in an amount sufficient for the payment of its obligations pursuant to the Loan Agreement. It is the intention of the City that, to the fullest extent permitted by law, this pledge shall be valid and binding from the time when it is made, that its Lawfully Available Funds so pledged and then or thereafter received by the City shall immediately be subject to the lien of such pledge without any physical delivery or further act, and that the lien of such pledge and the obligation to perform the contractual agreements contained herein and in the Loan Agreement shall have priority over any or all other obligations and liabilities of the City in accordance with the terms of the Loan Agreement, and that this pledge shall be valid and binding against all parties having claims of any kind in tort, contract or otherwise against the City, irrespective of whether such parties have notice thereof. The City’s Lawfully Available Funds shall be and remain pledged for the security and payment of the Bonds in principal and interest until the Bonds shall have been fully paid and discharged. SECTION 5. The execution and delivery of a Preliminary Official Statement and an Official Statement, in the forms approved by bond counsel and the municipal advisor to the Authority, are hereby approved. SECTION 6. The Executive Officers are hereby authorized and directed to execute any and all documents and take all further action necessary or reasonably required to effect the Loan from the Authority evidenced by the Loan Agreement and are specifically authorized to approve any changes to the Loan Agreement and all other ancillary documents approved by counsel to the City and bond counsel to the Authority, such approval to be conclusively evidenced by their execution hereof. SECTION 7. The Authority is hereby requested to take all actions necessary to issue and sell the Bonds. SECTION 8. The Executive Officers are hereby authorized and directed to do any and all things necessary and incidental to carry out the provisions of this Ordinance and effect the completion of the Project and to assist the Authority in carrying out its functions in connection with the financing. SECTION 9. This Ordinance shall be in full force and effect ten (10) days from the date of its publication. The above and foregoing Ordinance, read in full at open and legal session convened, was on motion of Mr. David Montgomery, Jr. and seconded by Mr. Scott Irwin, and adopted on the 19th day of October, 2021 by the following vote: YEAS: Mr. Montgomery, Jr., Mr. Irwin, Mr. Darby, Mr. Williams, Mr. Free and Mr. Maggio NAYS: Mr. Smith ABSENT: none ABSTAIN: none And the Ordinance was declared adopted on this, the 19th day of October, 2021. ________________ City Clerk President The following ordinance having been introduced at a duly convened meeting on October 5, 2021, and notice of its introduction having been published, as required by Section 3.14 of the City Charter, was offered for final adoption by Mr. David Montgomery, Jr. and seconded by Mr. Mr. Vince Maggio: ORDINANCE NO. 129 OF 2021 AN ORDINANCE AUTHORIZING THE ISSUANCE OF NOT EXCEEDING FIFTEEN MILLION DOLLARS ($15,000,000) OF TAXABLE PUBLIC IMPROVEMENT SALES TAX REFUNDING BONDS AND NOT EXCEEDING SEVENTY-FIVE MILLION DOLLARS ($75,000,000) OF PUBLIC IMPROVEMENT SALES TAX REVENUE BONDS OF THE CITY OF BOSSIER CITY, STATE OF LOUISIANA; PROVIDING FOR THE SALE OF SUCH BONDS; AND PROVIDING FOR OTHER MATTERS IN CONNECTION THEREWITH. WHEREAS, the City of Bossier City, State of Louisiana (the "Issuer"), is now levying and collecting a one percent (1%) sales and use tax (the "Tax ") under the authority of special elections held in the Issuer on September 24, 1963, November 7, 1978, and May 16, 1981; and WHEREAS, the Issuer has heretofore issued $15,000,000 of Public Improvement Sales Tax Revenue Bonds, Series ST-2017, dated April 27, 2017 (the "Series 2017 Bonds"); and WHEREAS, in order to provide debt service savings, this City Council of the City of Bossier City, State of Louisiana (the "Governing Authority") desires to refund all or a portion of the callable maturities of the Series 2017 Bonds (such refunded maturities referred to herein as the "Refunded Bonds"), pursuant to the provisions of Part II of Chapter 4 of Subtitle II of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority (the "Act"), through the issuance of refunding bonds; and WHEREAS, pursuant to the Act, and subject to the approval of the State Bond Commission, the Issuer desires to accomplish the refunding through the issuance of not exceeding $15,000,000 of its Taxable Public Improvement Sales Tax Refunding Bonds (the "Refunding Bonds") for the purpose of (i) refunding the Refunded Bonds, (ii) funding a reserve or paying the cost of a reserve fund surety, if required, and (iii) paying the costs of issuance of the Refunding Bonds, said Refunding Bonds to be payable solely from and secured by the revenues derived from the levy and collection of the Tax, after provision has been made for the payment therefrom of all of the reasonable and necessary expenses of collecting the Tax (the "Net Revenues of the Tax"); and WHEREAS, pursuant to the Act, and subject to the approval of the State Bond Commission, the Issuer desires to issue not exceeding $75,000,000 of its Public Improvement Sales Tax Revenue Bonds (the "Bonds") for the purpose of (i) purchasing, constructing, acquiring, extending or improving any public works or capital improvements for the Issuer, including any necessary sites, equipment and furnishings therefor, (ii) funding a reserve or paying the cost of a reserve fund surety, if required, and (iii) paying the costs of issuance of the Bonds, said Bonds to be payable solely from and secured by the Net Revenues of the Tax; and WHEREAS, after the issuance of the Bonds and Refunding Bonds, the Issuer will have no outstanding bonds or other obligations of any kind or nature payable from a pledge and dedication of the Net Revenues of the Tax, except its outstanding (i) Public Improvement Sales Tax Refunding Bonds, Series ST-2010, (ii) Public Improvement Sales Tax Refunding Bonds, Series 2015, (iii) Public Improvement Sales Tax Refunding Bonds, Series 2016 (Taxable), (iv) Public Improvement Sales Tax Revenue Bonds, Series ST-2016, and (v) unrefunded portion of the Series 2017 Bonds (collectively, the "Outstanding Parity Bonds"); and WHEREAS, the State Bond Commission is expected to approve the issuance of the Bonds at its meeting to be held on October 21, 2021;  NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Bossier City, State of Louisiana, acting as governing authority of the City of Bossier City, State of Louisiana, that: SECTION 1. Authorization and Sale of Refunding Bonds. This Ordinance authorizes a series of bonds of the Issuer to be designated "Taxable Public Improvement Sales Tax Refunding Bonds, Series 2021, of the City of Bossier City, State of Louisiana"; provided, however, that said designation may change in the event the Refunding Bonds are delivered after calendar year 2021, are issued in more than one series, or the tax status of the Refunding Bonds changes. The Refunding Bonds shall bear interest at rates of interest not exceeding 5% per annum, shall mature not later than December 1, 2036, and shall become due and payable and mature on December 1 of the years and in the amounts as set forth in the Bond Purchase Agreement between the Issuer and the Underwriter (as hereinafter defined). The Refunding Bonds are hereby authorized to be sold to Stifel, Nicolaus & Company, Incorporated, Baton Rouge, Louisiana, and Sisung Securities Corporation, New Orleans, Louisiana (collectively, the "Underwriter"), and the Mayor, City Clerk, Director of Finance and/or President of the Governing Authority (collectively, the "Executive Officers"), or any of them, are hereby authorized to execute a Bond Purchase Agreement in substantially the form attached hereto as Exhibit A-1, provided that the sale of the Refunding Bonds (i) is within the parameters set forth above in this Section and (ii) produces minimum net present value savings (after payment of all costs) in excess of the Minimum Present Value Savings to Refund guidelines of the State Bond Commission. The Bond Purchase Agreement may provide for the purchase of a reserve fund surety in the event any Executive Officers, on behalf of the Issuer, find and determine that the purchase of such surety will be of benefit. In such event, the Executive Officers are hereby authorized to execute all documents and agreements necessary and appropriate in connection with obtaining and securing the reserve fund surety. SECTION 2. Authorization and Sale of Bonds. This Ordinance authorizes a series of bonds of the Issuer to be designated "Public Improvement Sales Tax Revenue Bonds, Series 2021, of the City of Bossier City, State of Louisiana"; provided, however, that said designation may change in the event the Bonds are delivered after calendar year 2021, are issued in more than one series, or the tax status of the Bonds changes. The Bonds shall bear interest at rates of interest not exceeding 5% per annum, shall mature not later than December 1, 2043, and shall become due and payable and mature on December 1 of the years and in the amounts as set forth in the Bond Purchase Agreement between the Issuer and the Underwriter. The Bonds are hereby authorized to be sold to the Underwriter, and the Executive Officers, or any of them, are hereby authorized to execute a Bond Purchase Agreement in substantially the forms attached hereto as Exhibit A-2, provided that the sale of the Bonds is within the parameters set forth above in this Section. The Bond Purchase Agreement may provide for the purchase of a reserve fund surety in the event any Executive Officers, on behalf of the Issuer, find and determine that the purchase of such surety will be of benefit. In such event, the Executive Officers are hereby authorized to execute all documents and agreements necessary and appropriate in connection with obtaining and securing the reserve fund surety. SECTION 3. Preliminary Official Statement. The Issuer hereby authorizes the preparation of the Preliminary Official Statement pertaining to the Bonds and the Refunding Bonds and approves its use by the Underwriter in connection with the sale of the Bonds and the Refunding Bonds. SECTION 4. Authorization of Escrow Securities. Any subscription or commitment for the purchase of securities to be deposited in escrow upon delivery of the Refunding Bonds, including but not limited to Treasury Securities – State and Local Government Series and/or open market securities, is hereby approved to the extent necessary for the purposes set forth herein.  SECTION 5. Execution of Documents. The Executive Officers are hereby empowered, authorized and directed to take any and all action and to execute and deliver any instrument, document or certificate necessary to effectuate the purposes of this Ordinance. SECTION 6. Effective Date. This Ordinance shall be in full force and effect ten (10) days from the date of its publication. The above and foregoing Ordinance, read in full at open and legal session convened, was on motion of Mr. David Montgomery, Jr. and seconded by Mr. Vince Maggio, and adopted on the 19th day of October, 2021 by the following vote: YEAS: Mr. Montgomery, Jr., Mr. Irwin, Mr. Darby, Mr. Williams, Mr. Free and Mr. Maggio NAYS: Mr. Smith ABSENT: none And the Ordinance was declared adopted on this, the 19th day of October, 2021. City Clerk President Agenda Item called – Adopt an Ordinance authorizing Mayor Thomas H. Chandler to execute the attached Alcoholic Beverage Concession Contract between the Bossier Civic Center and Thrifty Liquor. Discussion was held from Mr. Montgomery and Mr. Jacobs about wanting to incorporate food into the contract and possibly do short term extension rather than a long term contract. By: Mr. Smith Motion to continue this item for 90 days. Seconded by Mr. Darby Discussion about what the Administration would be doing in the 90 days. Ms. Nottingham responded. No further comment Vote in favor of motion is unanimous Agenda Item called - Adopt an Ordinance authorizing Mayor Thomas H. Chandler to execute the attached Sponsorship Guide Sign Permit with DOTD listed as Exhibit "A" and appropriating funds not to exceed Fifteen Thousand Six Hundred Dollars and No/100 ($15,600.00) from the Hotel/Motel Taxes Fund for replacement of signs relating to the Brookshire Grocery Arena. Mr. Montgomery reported that the City has complied with everything the State has requested in addition to what has been required of the City for those same signs before. Thanked Brookshires Grocery for their 10-year commitment to the City. The following Ordinance offered and adopted: Ordinance No. 130 Of 2021 AN ORDINANCE AUTHORIZING MAYOR THOMAS H. CHANDLER TO EXECUTE THE ATTACHED SPONSORSHIP GUIDE SIGN PERMIT WITH DOTD LISTED AS EXHIBIT “A” AND APPROPRIATING FUNDS NOT TO EXCEED FIFTEEN THOUSAND SIX HUNDRED DOLLARS AND NO/100 ($15,600.00) FROM THE 2021 HOTEL/MOTEL TAXES FUND FOR REPLACEMENT OF SIGNS RELATING TO THE BROOKSHIRE GROCERY ARENA. WHEREAS, the City of Bossier City owns the Bossier City Arena located at 2000 Brookshire Arena Drive; and  WHEREAS, the City of Bossier City has entered into a license and naming agreement with the Brookshire Grocery Company; and WHEREAS, the City of Bossier City and Brookshire Grocery Company have agreed to name the Bossier City Arena with the service marks BROOKSHIRE GROCERY ARENA; and WHEREAS, the above referenced agreement states that the City of Bossier City “agrees to use its best efforts to permit installation of street signs displaying the Logo directing traffic to the Arena”; and WHEREAS, Resolution 92 of 2021 authorized the Mayor to submit to the Louisiana Department of Transportation & Development a Review of Permit Request for Sponsorship Guide Signs on State Right of Way for the Brookshire Grocery Arena; and WHEREAS, the Louisiana Department of Transportation & Development requires the Sponsorship Guide Sign Permit attached as Exhibit “A” to now be executed; and WHEREAS, there are costs associated with the replacement of the signs that is expected not to exceed fifteen thousand six hundred dollars and no/100 ($15,600.00) that will be appropriated from the 2021 HOTEL/MOTEL Taxes Fund; NOW, THEREFORE, BE IT ORDAINED, by the City Council of Bossier City, Louisiana, in regular session convened, that Mayor Thomas H. Chandler is authorized to execute the attached Sponsorship Guide Sign Permit Request with DOTD listed as Exhibit “A”. NOW, THEREFORE, BE IT FURTHER ORDAINED, by the City Council of Bossier City, Louisiana, in regular session convened, that fifteen thousand six hundred dollars and no/100 ($15,600.00) is hereby appropriated from the 2021 HOTEL/MOTEL Taxes Fund for replacement of signs relating to Brookshire Grocery Arena. The above and foregoing Ordinance was read in full at open and legal session convened, was on motion of Mr. Scott Irwin, and seconded by Mr. David Montgomery, Jr., and adopted on the 19th, day of October, 2021, by the following vote: AYES: Mr. Montgomery, Jr., Mr. Smith, Mr. Irwin, Mr. Darby, Mr. Williams, Mr. Free and Mr. Maggio NAYS: none ABSENT: none ABSTAIN: none ____________________________ Don Williams, President ____________________________ Phyllis McGraw, City Clerk New Business – By: Mr. Montgomery, Jr. Motion to combine Agenda Items 1-19 into one reading. Seconded by Mr. Darby Mr. David Crockett spoke on the need for more discussion on budget and competitive bidding. No further comment Vote in favor of motion is unanimous By: Mr. Williams Motion to amend the Sales Tax Capital Budget to remove vehicles from Public Affairs and Human Resources Departments Seconded by Mr. Montgomery, Jr. No comment Vote in favor of motion is unanimous By: Mr. Williams Motion to introduce the 2022 Operating and Capital Budgets as amended. Seconded by Mr. Montgomery, Jr. No comment Vote in favor of motion is unanimous By: Mr. Montgomery, Jr. Motion to introduce an Ordinance to re-appropriate $500,000.00 from the Sales Tax Capital Improvements Funds for unplanned streets and drainage improvements. Seconded by Mr. Smith Mr. Wade Rich, new Public Works Director, spoke on need to do this Ordinance so that existing projects in each district can be continued. No further comment Vote in favor of motion is unanimous By: Mr. Irwin Motion to introduce an Ordinance authorizing and approving the engagement of Heard, McElroy and Vestal, LLC to provide Professional Services to audit the financial statements of the City of Bossier City, Brookshire grocery Arena Fund, Firemen's Pension and Relief fund and Policemen's Pension and Relief Fund. Seconded by Mr. Montgomery, Jr. No comment Vote in favor of motion is unanimous By: Mr. Montgomery, Jr. Motion to introduce an Ordinance to approve Change Order 6 for the Tinsley Park Expansion Project with an increase of $25,540.67 for a total contract price of $12,827,298.53 with an additional 75 days added to the contract. Seconded by Mr. Irwin Discussion with from Council members, Mr. Jacobs and City Engineer, Ben Rauschenbach, about issues with project and the hard work everyone has undertaken to get project completed. City is not paying any extra other than what extra items city requested. No further comment Vote in favor of motion is unanimous By: Mr. Darby Motion to introduce an Ordinance to appropriate funds to cover design and construction cost for drainage improvements along Fullilove Drive for a total of $125,000.00 to come from Fund 400 Sales Tax Capital Improvement Fund. Seconded by Mr. Maggio No comment Vote in favor of motion is unanimous The following Resolution offered and adopted: RESOLUTION 114 Of 2021 A RESOLUTION AUTHORIZING THE HIRING OF ONE GIS COORDINATOR IN THE ENGINEERING DEPARTMENT DUE TO RESIGNATION. WHEREAS, Ordinance No. 21 of 2018 implemented a requirement assuring that the City department budgets not be exceeded by any hiring of any personnel; and WHEREAS, the position of GIS Coordinator is vacant due to resignation; and WHEREAS, the administration and the department assures that all current budgets have been verified and that no authorized salary has been exceeded; and NOW, THEREFORE, BE IT RESOLVED by the City Council of Bossier City, Louisiana, in regular session convened, that the administration is authorized to proceed with hiring procedures for the fulfillment of this position. The above and foregoing Resolution was read in full at open and legal session convened, was on motion of Mr. Jeffery Darby, and seconded by Mr. Jeff Free, and adopted on the 19th, day of October, 2021, by the following vote: AYES: Mr. Montgomery, Jr., Mr. Smith, Mr. Irwin, Mr. Darby, Mr. Williams, Mr. Free and Mr. Maggio NAYS: none ABSENT: none ABSTAIN: none ____________________________ Don Williams, President ____________________________ Phyllis McGraw, City Clerk The following Resolution offered and adopted: RESOLUTION NO. 115 OF 2021 A RESOLUTION CERTIFYING OFF-SYSTEM BRIDGE PROGRAM COMPLIANCE FOR 2021-2022 FOR THE CITY OF BOSSIER CITY, LOUISIANA WHEREAS, the Code of Federal Regulations as enacted by the United States Congress mandates that all structures defined as bridges located on all public roads shall be inspected and rated for safe load capacity and posted in accordance with the National Bridge Inspection Standards, and that an inventory of these bridges be maintained by each State; and WHEREAS, responsibility to inspect, rate, and load post these bridges under the authority of Bossier City in accordance with those Standards is delegated by the Louisiana Department of Transportation and Development to Bossier Parish, and is delegated by Bossier Parish to Bossier City. NOW, THEREFORE, BE IT RESOLVED, by the governing authority of Bossier City (herein referred to as the City), that the City in regular meeting assembled does hereby certify to the Louisiana Department of Transportation and Development (herein referred to as the DOTD), to qualify for program participation for the period of 1 October, 2021, through 30 September, 2022: 1. The City has performed all interim inspections on all City owned or maintained bridges in accordance with the National Bridge Inspection Standards. 2. All bridges owned or maintained by the City have been structurally analyzed and rated by the City as to the safe load capacity in accordance with AASHTO Manual for Maintenance Inspection of Bridges. The load posting information that has been determined by the LA DOTD for all bridges, where the maximum legal load under Louisiana State law exceeds the load permitted under the operating rating as determined above, has been critically reviewed by the City. Load posting information has been updated by the City to reflect all structural changes, any obsolete structural ratings or any missing structural ratings. 3. All City owned or maintained bridges which require load posting or closings are load posted or closed in accordance with the table in the DOTD Engineering Directives and Standards Manual Directive No. 1.1.1.8. All DOTD supplied load posting information concerning a bridge has been critically reviewed by the City prior to load posting. 4. All bridges owned or maintained by the City are shown on the attached list in the format specified by the DOTD. Corrections to data supplied to the City by the LA DOTD are noted. These stipulations are prerequisites to participation by Bossier Parish and Bossier City in the Off- System Bridge Replacement Programs.  The above and foregoing Resolution was read in full at open and legal session convened, was on motion of Mr. Chris Smith, and second by Mr. Jeffery Darby, and adopted on the 19th, day of October, 2021, by the following vote: AYES: Mr. Montgomery, Jr., Mr. Smith, Mr. Irwin, Mr. Darby, Mr. Williams, Mr. Free and Mr. Maggio NAYS: none ABSENT: none ABSTAIN: none ____________________________ Don Williams, President ____________________________ Phyllis McGraw, City Clerk The following Resolution offered and adopted: RESOLUTION 116 Of 2021 A RESOLUTION AUTHORIZING THE HIRING OR PROMOTION OF A RECREATION MAINTENANCE WORKER II AND BACKFILLING ANY POSITION THIS MAY CREATE FOR THE PARKS & RECREATION DEPARTMENT WHEREAS, Ordinance No. 21 of 2018 implemented a requirement assuring that the City department budgets not be exceeded by any hiring of any personnel; and WHEREAS, the position of a Recreation Maintenance Worker II is vacant due to promotion, retirement, resignation or termination; and WHEREAS, the administration and the department assures that all current budgets have been verified and that no authorized salary has been exceeded; and NOW, THEREFORE, BE IT RESOLVED by the City Council of Bossier City, Louisiana, in regular session convened, that the administration is authorized to proceed with hiring procedures for the fulfillment of this position. The above and foregoing Resolution was read in full at open and legal session convened, was on motion of Mr. David Montgomery, Jr., and seconded by Mr. Vince Maggio, and adopted on the 19th, day of October, 2021, by the following vote: AYES: Mr. Montgomery, Jr., Mr. Smith, Mr. Irwin, Mr. Darby, Mr. Williams, Mr. Free and Mr. Maggio NAYS: none ABSENT: none ABSTAIN: none ____________________________ Don Williams, President ____________________________ Phyllis McGraw, City Clerk The following Resolution offered and adopted: RESOLUTION 117 Of 2021 A RESOLUTION AUTHORIZING THE HIRING OF ONE (1) POLICE OFFICER FOR THE BOSSIER CITY POLICE DEPARTMENT. WHEREAS, Ordinance No. 21 of 2019 implemented a requirement assuring that the City department budgets not be exceeded by any hiring of any personnel; and WHEREAS, the Hiring is due to resignation WHEREAS, the administration and the department assures that all current budgets have been verified and that no authorized salary has been exceeded; and NOW, THEREFORE, BE IT RESOLVED by the City Council of Bossier City, Louisiana, in regular session convened, that the administration is authorized to proceed with hiring procedures for the fulfillment of this position. The above and foregoing Resolution was read in full at open and legal session convened, was on motion of Mr. Jeff Free, and seconded by Mr. Chris Smith, and adopted on the 19th, day of October, 2021, by the following vote: AYES: Mr. Montgomery, Jr., Mr. Smith, Mr. Irwin, Mr. Darby, Mr. Williams, Mr. Free and Mr. Maggio NAYS: none ABSENT: none ABSTAIN: none ____________________________ Don Williams, President ____________________________ Phyllis McGraw, City Clerk The following Resolution offered and adopted: Resolution No. 118 Of 2021 A RESOLUTION AUTHORIZING THE PROMOTION OF ONE PERMIT TECH TO OFFICE MANAGER AND REPLACING ONE PERMIT TECH DUE TO RETIREMENT IN PERMITS. _____________________________________________________________________________  WHEREAS, Ordinance No. 21 of 2018 implemented a requirement assuring that the City department budgets not be exceeded by any hiring of personnel; and WHEREAS, the position of Office Manager will be vacant due to a retirement; and WHEREAS, the current Permit Tech will be promoted to Office Manager; and WHEREAS, this will leave a vacancy in the Permit Tech position that will need to be replaced; and WHEREAS, the administration and department assures that current budgets have been verified and that no authorized salary has been exceeded. NOW, THEREFORE, BE IT RESOLVED by the City Council of Bossier City, Louisiana, in regular session convened, that the promotion of one Permit Tech to Office Manager and replacing one Permit Tech is hereby authorized. The above and foregoing Resolution was read in full at open and legal session convened, was on motion of Mr. Jeff Free, and seconded by Mr. Vince Maggio, and adopted on the 19th, day of October, 2021, by the following vote: AYES: Mr. Montgomery, Jr., Mr. Smith, Mr. Irwin, Mr. Darby, Mr. Williams, Mr. Free and Mr. Maggio NAYS: none ABSENT: none ABSTAIN: none ____________________________ Don Williams, President ____________________________ Phyllis McGraw, City Clerk RESOLUTION NO. 119 OF 2021 A RESOLUTION ADOPTING THE CITY OF BOSSIER CITY’S CURRENT INVESTMENT POLICY IN ACCORDANCE WITH LA. REVISED STATUTE R.S. 33:2955 (D) AND SECTION 16.02 (J) OF THE BOSSIER CITY CHARTER. ______________________________________________________________ I. Introduction In accordance with the provision of R.S. 33:2955 (D) and the authority of Section 16.02 (J) of the Charter of the City of Bossier City, the Director of Finance is authorized and required to make rules and regulations and to establish administrative policies and procedures relating to the cash management and investment policies of the City. It is anticipated that this policy statement will be reviewed and evaluated on a regular basis, to ensure that the policies and procedures expressed herein are responsive to the prevailing cash management and investment environment. This policy statement must, therefore, be appropriately amended, expanded, or purged on continuing basis. II. General Policies In general, the City of Bossier (City) shall operate under the “Prudent Person” rule, exercising judgement and care, under the circumstances prevailing, which people of ordinary prudence would employ in the management of their own affairs – not in regard to speculation, but as to the permanent disposition of their funds, considering both income and safety of capital. The assets of the City shall be held in trust by the fiduciary (fiduciaries) designated by the City. This policy is not intended to remain static. Normally, the City will review this policy at least annually and, if deemed advisable, recommend changes. Recommendations from outside professionals leading to improvements in policies, procedures, and operations are always welcome. OBJECTIVES The primary investment objective of the City is to ensure that the current and future obligations are adequately funded in a cost-effective manner. The goals of this investment policy shall be (1) safety of principal, (2) liquidity, and (3) yield. Preservation of capital and the realization of sufficient total return to ensure the ongoing financial integrity of the funds are essential. Preservation of capital encompasses two goals: Managing the risk of loss of principal for the fund as a whole. Managing the erosion of principal value through inflation. The City shall prohibit the use of derivative investments due to the inherently risky nature of these financial instruments. For purposes of this policy, “derivative” means any financial instrument created from or whose value depends on the value of one or more underlying assets or indexes of asset value. RESPONSIBILITY The investment of funds shall be managed by the Comptroller, subject to the approval of the Director of Finance, and may be accomplished by the selection of an investment manager(s). The selection must be approved by the City Council in accordance with the criteria established by the Director of Finance. The investment manager(s) must acknowledge in writing their obligations as a fiduciary responsible for the investment of the City’s assets. Prospective investment managers shall be registered investment advisors with the Securities and Exchange Commission under the Investment Act of 1940 or bank trust department regulated by the Office of the Comptroller of the Currency. GUIDELINES The assets of the City shall be invested, as provided in Louisiana Revised Statute 33:2955 (A) (1), as amended, in the following: 1. Direct United States Treasury obligations, the principal and interest of which are fully guaranteed by the government of the United States. 2. Bonds, debentures, notes or other evidence of indebtedness issued or guaranteed by federal agencies and provided such obligations are backed by the full faith and credit of the United States of America, which obligations include but are not limited to: U.S. Export-Import Bank,  Farmers Home Administration, Federal Financing Bank, Federal Housing Administration Debentures, General Services Administration, Government National Mortgage Association - guaranteed mortgage-backed bonds and guaranteed pass-through obligations, U.S. Maritime Administration - guaranteed Title XI financing, and U.S. Department of Housing and Urban Development. 3. Bonds, debentures, notes, or other evidence of indebtedness issued or guaranteed by U.S. government instrumentalities, which are federally sponsored, and such obligations include but are not limited to Federal Home Loan Bank System, Federal Home Loan Mortgage Corporation, Federal National Mortgage Association, Student Loan Marketing Association, and Resolution Funding Corporation. 4. Direct security repurchase agreements of any federal book entry only securities enumerated in paragraphs (1) through (3) above. “Direct security repurchase agreement” means an agreement under which the political subdivision buys, holds for a specific time, and the sells back those securities and obligations enumerated in paragraphs (1) through (3). 5. Time certificates of deposit of any bank domiciled or having a branch office in the state of Louisiana, savings accounts or shares of savings and loan associations and savings banks, as defined by Louisiana Revised Statute 6:703(16) or (17), or share accounts and share certificate accounts of federally or state chartered credit unions issuing time certificate of deposit. For those funds made available for investment in time certificates of deposit, the rate of interest paid by the banks shall be established by contract between the bank and the political subdivision; however, the interest rate at the time of investment shall be a rate not less than fifty basis points below the prevailing market interest rate on direct obligations of the United States Treasury with a similar length of maturity. Funds invested in accordance with this paragraph shall not exceed at any time the amount insure by the Federal Deposit Insurance Corporation in any one banking institution, or in any one savings and loan association, or National Credit Union Administration, unless the uninsured portion is collateralized by the pledge of securities in the manner provided in Louisiana Revised Statute 39:1221. 6. Mutual of trust fund institutions which are registered with the Securities and Exchange Commission under the Securities Act of 1933 and the Investment Act of 1940, and which have underlying investments consisting solely of and limited to securities of the United States government or its agencies. Investment of funds in such mutual or trust fund institutions shall be limited to twenty-five percent of the monies considered available for investment as provided by Louisiana Revised Statute 33:2955 (A) (2). In no event shall monies be considered available for investment under Louisiana Revised Statute 33:2955 (A) (2) unless and until such funds are determined by the treasurer or chief financial officer of said subdivisions, in the exercise of prudent judgment, to be in excess of the immediate cash requirements of the fund, to which the monies are credited. 7. Guaranteed investment contracts issued by a bank, financial institution, insurance company, or other entity having on of the two highest short-term rating categories of either Standard & Poor’s Corporation or Moody’s Investors Service, provided that no such investment may be made except in connection with a financing program for political subdivisions which financing program is approved by the State Bond Commission and offered by a public trust having the state as its beneficiary, provided further that no such investment shall be for a term longer than eighteen months, and provided further that any such guaranteed investment contract shall contain a provision providing that in the event the issuer of the guaranteed investment contract is at any time not longer rated in either of the two highest short-term rating categories of Standard & Poor’s Corporation or Moody’s Investors Service, the investing unit of local government may either be released from the guaranteed investment contract without penalty, or be entitled to require that the guaranteed investment provider collateralize the guaranteed investment contract with any bonds or other obligations which as to principal and interest  constitute direct general obligations of, or are unconditionally guaranteed by, the United States of America, including obligations set forth in paragraphs (1) through (3) to the extent unconditionally guaranteed by the United States of America. 8. Investment grade commercial paper issued in the United States, traded in the United States markets, denominated in United States dollars, with a short-term rating of at least A-1 by Standard & Poor’s Financial Services LLC or P-1 by Moody’s Investor Service, Inc. or the equivalent rating by a Nationally Recognized Statistical Rating Organization (NRSRO). 9. A Business and Industrial Development Company (BIDCO), as authorized by Louisiana Revised Statute 51:2395.1. 10. Bonds, debentures, notes or other evidence of indebtedness issued by the State of Louisiana or any of its political subdivisions with the exception of those of the City provided that all of the following conditions are met: (i) the indebtedness shall have a long-term rating of Baa3 or higher by Moody’s Investor Service, a long-term rating of BBB- or higher by the Standard & Poor’s or a long-term rating of BBB- or higher by Fitch, Inc., or a short-term rating of MIG1 or VMIG1 by Moody’s Investors Service, a short-term rating of A-1 or A-1+ by Standard & Poor’s, or a short-term rating of F1 or F1+ by Fitch, Inc, and (ii) the indebtedness has a final maturity, mandatory tender, or a continuing optional tender of no more than five years, except that such five year limitation shall not apply to (a) funds held by a trustee, escrow agent, paying agent, or other third party custodian in connection with a bond issue or (b) investment of funds held by either a hospital service district, a governmental 501(c)(3), or a public trust authority. 11. Bonds, debentures, notes, or other indebtedness issued by a state of the United States of America other than Louisiana or any such state’s political subdivisions provided that all of the following conditions are met: (i) The indebtedness shall have a long-term rating of A3 or higher by Moody’s Investors Service, a long-term rating of A- or higher by Standard & Poor’s or a long-term rating of A- or higher by Fitch, Inc., or a short-term rating of MIG1 or VMIG1 by Moody’s Investor Service, a short-term rating of A-1 or A-1+ by Standard & Poor’s, or a short-term rating of F1 or F1+ by Fitch, Inc. (ii) The indebtedness has a final maturity, mandatory tender, or a continuing optional tender of no more than five years, except that such five-year limitation shall not apply to funds held by a trustee, escrow agent, paying agent, or other third-party custodian in connection with a bond issue nor to investment of funds held by either a hospital service district, a governmental 501(c)(3) organization, or a public trust authority. (iii) Prior to purchase of any such indebtedness and at all times during which such indebtedness is owned, the purchasing Louisiana political subdivision retains the services of an investment advisor registered with the United States Securities and Exchange Commission; a trust department of an institution that is insured by the Federal Deposit Insurance Corporation, that exercises trust powers in Louisiana, and that has a main office or a bank branch in Louisiana; or a trust company that has offices in Louisiana, that is regulated by the Office of Financial Institutions or the applicable federal agency, and that owes a fiduciary duty to act solely in the best interest of the political subdivision. 12. Bonds, debentures, notes, or other indebtedness issued by domestic United States corporations provided that all of the following conditions are met: (i) The indebtedness shall have a long- term rating of Aa3 or higher by Moody's Investors Service, a long-term rating of AA- or higher by Standard & Poor's, or a long-term rating of AA- or higher by Fitch Ratings, Inc. (ii) The indebtedness has a final maturity, mandatory tender, or a continuing optional tender of no more than five years. (iii) Prior to purchase of any such indebtedness and at all times during which such indebtedness is owned, the purchasing Louisiana political subdivision retains the services of an investment advisor registered with the United States Securities and Exchange Commission; a trust department of an institution that is insured by the Federal Deposit Insurance Corporation, that exercises trust powers in Louisiana, and that has a main office or a bank branch in Louisiana; or a trust company that has offices in Louisiana, that is regulated  by the Office of Financial Institutions or the applicable federal agency, and that owes a fiduciary duty to act solely in the best interest of the political subdivision. Notwithstanding the foregoing list of investments, in no instance shall the City invest in obligations described in items (2) and (3) above which are collateralized mortgage obligations that have been stripped into interest only or principal only obligations, inverse floaters, or structured notes. For the purposes of this policy “structured notes” shall mean securities of U.S. government agencies, instrumentalities, or government-sponsored enterprises which have been restructured, modified, and/or reissued by private entities. The interest earned on bonds, notes or certificates, time certificates of deposit, or mutual or trust fund investments, so purchased shall be credited to the fund from which the bonds, notes or certificates, time certificates of deposit, or mutual or trust fund investments, were acquired, or it may be applied to the payment of the principal and interest of the outstanding bonded indebtedness of the City. At any time that may be deemed advisable the City may cash and liquidate any of the investments authorized herein which are purchased for any particular fund. The proceeds of any such liquidation shall be credited to the fund from which the authorized investments were originally purchased. The City shall also include in the footnotes to the Comprehensive Annual Financial Report the disclosures required by Governmental Accounting Standards Board Statements 3 and 40. These footnotes shall address the common deposit and investments risks related to credit risk, concentration of credit risk, interest rate risk and foreign currency risk. In addition, the footnotes shall include disclosures required by Governmental Accounting Standards Board Statement 72. These disclosures include fair value measurements, the level of fair value hierarchy, and valuation techniques related to investments. BE IT RESOLVED that the Investment Policy referenced herein is hereby adopted. The above and foregoing Resolution, read in full at open and legal session convened, was on motion of Mr. David Montgomery, Jr. and seconded by Mr. Chris Smith, and adopted on the 19th, day of October, 2021, by the following vote: AYES: Mr. Montgomery, Jr., Mr. Smith, Mr. Irwin, Mr. Darby, Mr. Williams, Mr. Free and Mr. Maggio NAYS: none ABSENT: none ABSTAIN: none ____________________________ Don Williams, President ____________________________ Phyllis McGraw, City Clerk The following Resolution offered and adopted: Resolution No. 120 Of 2021 A RESOLUTION AUTHORIZING AMANDA NOTTINGHAM, IN HER CAPACITY AS CHIEF ADMINISTRATIVE OFFICER TO SIGN ANY AND ALL FORMS AND CORRESPONDENCE, ON BEHALF OF THE CITY OF BOSSIER CITY RELATED TO THE HIGHWAY 71 STREET LIGHTING (BOSSIER CITY) FACILITY PLANNING AND CONTROL PROJECT NO. 50-M29-15-02. ________________________________________________________________________ WHEREAS, the Division of Administration, Facility Planning and Control Division previously entered into a Cooperative Endeavor Agreement with the City of Bossier City; and WHEREAS, said Department requires “notarized corporate resolution verifying an individuals authority to sign any and all forms and correspondence, on behalf of the City of Bossier City related to the Highway 71 Street Lighting (Bossier City) Facility Planning and Control Project No. 50-M29-15-02; and WHEREAS, Amanda Nottingham in her role as Chief Administrative Officer is the proper representative of the City of Bossier to make sign such forms and correspondences; and NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Bossier, in regular session convened, that Amanda Nottingham acting in her capacity as the Chief Administrative Officer of the City of Bossier has authorized to sign any and all forms and correspondences, on behalf of the City of Bossier City related to the Highway 71 Street Lighting (Bossier City) Facility Planning and Control Project No. 50-M29-15-02.. NOW, THEREFORE, BE IT FUTHER RESOLVED, by the City Council of the City of Bossier, in regular session convened, that Mayor Thomas H. Chandler is hereby authorized to execute any further documentation i.e. said required corporate resolution authorizing Amanda Nottingham, in her capacity as Chief Administrative Officer to sign any and all forms and correspondences, on behalf of the City of Bossier City related to the Highway 71 Street Lighting (Bossier City) Facility Planning and Control Project No. 50-M29-15-02. The above and foregoing Resolution was read in full at open and legal session convened, was on motion of Mr. Scott Irwin, and seconded by Mr. Vince Maggio, and adopted on the 19th, day of October, 2021, by the following vote: AYES: Mr. Montgomery, Jr., Mr. Smith, Mr. Irwin, Mr. Darby, Mr. Williams, Mr. Free and Mr. Maggio NAYS: none ABSENT: none ABSTAIN: none ____________________________ Don Williams, President ____________________________ Phyllis McGraw, City Clerk Agenda Item called: Public Hearing concerning the City of Bossier City’s 2022 CDBG Annual Action Plan for Community Development Block Grant Funds. Mr. Williams opened the Public Hearing. Bob Brown, Community Development Director, went over how funding is awarded and what plans the city has to use it. Mr. Williams asked audience for comments. Hearing none, Mr. Williams closed the Public Hearing at 3:55 PM RESOLUTION NO. 121 OF 2021 A RESOLUTION SUPPORTING THE CITY’S APPLICATION TO THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FOR FUNDING (ENTITLEMENT STATUS) UNDER AUTHORITY OF TITLE I OF THE HOUSING AND COMMUNITY DEVELOPMENT ACT OF 1974 (42 U.S.C. 3535) (d) and (42 U.S.C. 5301) (et.seq.) BE IT RESOLVED by the City Council of the City of Bossier City, Louisiana that the City of Bossier City Council hereby supports the City’s Five-Year Consolidated Strategy Plan and 2022 Action Plan and application to the U.S. Department of Housing and Urban Development for funding (Entitlement Status) under authority of the Consolidation for the following: Comprehensive Housing Affordability Strategy (CHAS): title I of the Cranston-Gonzalez National Affordable Housing Act, 42 U.S.C. 12702-12711; Community Development Block Grants (CDBG): title I of the Housing and Community Development Act of 1974, 42 U.S.C. 5304-5320; Emergency Shelter Grants (ESG): title VI, subtitle B, of the Stewart B. McKinney Homeless Assistance Act, 42 U.S.C. 11371-11378; HOME Investment Partnerships (HOME): title II of the Cranston-Gonzalez Nation Affordable Housing Act, 42 U.S.C. 12741-12839; Housing Opportunities for Persons With AIDS (HOPWA): the AIDS; Housing Opportunity Act, 42 U.S.C. 12901-12912; Also serving as a basis for determining requirements in this rule are the Fair Housing Act (42 U.S.C. 3601-3619), title VI of the Civil Rights Act of 1964 section 504 of the Rehabilitation Act of 1973, title II of the Americans With Disabilities Act, and Section 3 of the Housing and Urban Development Act of 1968 (12 U.S.C. 1701u). WHEREAS, the primary objective of the Community Development Entitlement Program is the development of viable urban communities, including decent housing and a suitable living environment and expanding economic opportunities, principally for persons of low and moderate income, and whereas, consistent with this primary objective, the Federal Assistance realized from this application is for the support of community development activities which are directed toward the following specific objectives: (1) The elimination of slums and blight and the prevention of blighting influences and the deterioration of property and neighborhood and community facilities of importance to the welfare of the community, principally persons of low and moderate income; (2) The elimination of conditions which are detrimental to health, safety and public welfare, through code enforcement, demolition, interim rehabilitation assistance, and related activities; (3) The conversation of the city’s housing stock in order to provide a decent home and a suitable living environment for all persons, but principally those of low and moderate income; (4) The improvement of the quality of community services, principally for persons of low and moderate income, which are essential for sound community development;  (5) The reduction of the isolation of income groups within communities and geographical areas and the promotion of an increase in the diversity and vitality of neighborhoods of housing opportunities for person of lower income and the revitalization of deteriorating neighborhoods to attract persons of higher income; and (6) The restoration and preservation of properties of special value or historic, architecture or aesthetic reasons. WHEREAS, THE City of Bossier City possesses legal authority to apply for this grant, and all other related Housing Urban Development Programs to execute all proposed projects and whereas, this City is now established as an “Entitlement City”; NOW THEREFORE, BE IT RESOLVED that the City of Bossier City hereby supports Thomas H. Chandler, Mayor of Bossier City, Louisiana, the chief official of Bossier City, to apply for and sign all document as necessary and appropriate in the City’s application of Housing and Urban Development Programs. This resolution having been submitted to a vote on motion by Mr. David Montgomery, Jr. and seconded by Mr. Chris Smith and declared adopted on the 19th, day of October, 2021, by the following vote: AYES: Mr. Montgomery, Jr., Mr. Smith, Mr. Irwin, Mr. Darby, Mr. Williams, Mr. Free and Mr. Maggio NAYS: none ABSENT: none ABSTAIN: none ____________________________ Don Williams, President ____________________________ Phyllis McGraw, City Clerk The following Resolution offered and adopted: Resolution No. 122 Of 2021 A RESOLUTION AUTHORIZING MAYOR THOMAS H. CHANDLER TO EXECUTE THE ATTACHED ALCOHOLIC BEVERAGE CONCESSION CONTRACT BETWEEN THE BOSSIER CITY CIVIC CENTER AND THRIFTY LIQUOR WHEREAS, the previous contract terminated August 14, 2021 and new contract is needed; and NOW, THEREFORE, BE IT RESOLVED, by the City Council of Bossier City, Louisiana, in regular session convened, that the Bossier City Council does hereby authorize Mayor Thomas H. Chandler to execute the attached Contract marked as Exhibit “A”; said contract to have a term of 90 days from the date of execution thereof.  The above and foregoing Resolution was read in full at open and legal session convened, was on motion of Mr. David Montgomery, Jr., and seconded by Mr. Chris Smith, and adopted on the 19th, day of October, 2021, by the following vote: AYES: Mr. Montgomery, Jr., Mr. Smith, Mr. Irwin, Mr. Darby, Mr. Williams, Mr. Free and Mr. Maggio NAYS: none ABSENT: none ABSTAIN: none ____________________________ Don Williams, President ____________________________ Phyllis McGraw, City Clerk Reports – Angela Williamson, Finance Director, went over the monthly Financial Report noting that the City was running 6 % below budget on expenses, sales taxes were at 11.2 percent above this time last year and at 675 employees. Clinton Patrick, Engineering Department, went over the monthly Project Report. He noted that Tinsley park expansion should be complete by November 18th. He also noted that the Coleman Street improvements should be finished in about 34 working days. There being no further business to come before this Council, the meeting adjourned at 4:05 PM by Mr. Williams Respectfully submitted: Phyllis McGraw City Clerk Publish: October 27, 2021 Bossier Press Tribune