Board of Mayor and Aldermen

1415 Walnut Street City of Vicksburg Vicksburg, MS 39180 Minutes - Final Board of Mayor and Aldermen George Flaggs Jr., Mayor Michael A. Mayfield Sr., Alderman Willis T. Thompson, Alderman Friday, July 25, 2014 11:00 AM City Hall Annex Board Room 1. Invocation, Pledge of Allegiance and Call to Order Invocation was given by Mayor Flaggs. Pledge of Allegiance was led by Mayor Flaggs. 2. Roll Call Present: 3- Mayor George Flaggs Jr. Alderman Michael A. Mayfield Sr. Alderman Willis T. Thompson 3. Board Comments: 4. Open Meeting On motion of Alderman Thompson, seconded by Mayor Flaggs, the Mayor and Alderman voted to open the meeting. The motion was adopted unanimously by the following vote: Aye: 3- Mayor Flaggs, Alderman Mayfield, and Alderman Thompson Resolutions: A. ID-14-0323 Adopt Resolution for the Engagement of Bond Attorney, Financial Advisor and Underwriter On motion of Alderman Mayfield, seconded by Alderman Thompson, the Mayor and Aldermen voted to adopt Resolution for the Engagement of Bond Attorney (Butler Snow, LLP), Financial Advisor (Government Consultants, Inc.) and Underwriter (Raymond James & Associates, Inc.). The motion was adopted unanimously by the following vote: Aye: 3- Mayor Flaggs, Alderman Mayfield, and Alderman Thompson Enactment No: RES 2014-008 B. ID-14-0324 ADOPT RESOLUTION AUTHORIZING AND DIRECTING THE ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS, SERIES 2014, OF THE CITY OF VICKSBURG, MISSISSIPPI (THE “CITY”), IN THE PRINCIPAL AMOUNT OF NOT TO EXCEED EIGHT MILLION TWO HUNDRED THOUSAND DOLLARS ($8,200,000) TO RAISE MONEY FOR THE PURPOSE OF PROVIDING FUNDS FOR (I) (A) THE CURRENT REFUNDING AND REDEMPTION OF A CERTAIN PORTION OF THE CITY’S OUTSTANDING $5,800,000 GENERAL OBLIGATION BONDS, SERIES 2003, DATED SEPTEMBER 1, 2003 (THE “2003 BONDS”) AND (B) THE CURRENT REFUNDING AND REDEMPTION OF A CERTAIN PORTION OF THE CITY’S OUTSTANDING $16,900,000 GENERAL OBLIGATION BONDS, SERIES 2007, DATED SEPTEMBER 1, 2007 (THE ”2007 BONDS); AND (II) PAYING THE COSTS OF ISSUANCE IN CONNECTION THEREWITH; AND (III) FOR RELATED PURPOSES On motion of Alderman Mayfield, seconded by Alderman Thompson, the Mayor and Aldermen voted to ADOPT RESOLUTION AUTHORIZING AND DIRECTING THE ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS, SERIES 2014, OF THE CITY OF VICKSBURG, MISSISSIPPI (THE “CITY”), IN THE PRINCIPAL AMOUNT OF NOT TO EXCEED EIGHT MILLION TWO HUNDRED THOUSAND DOLLARS ($8,200,000) TO RAISE MONEY FOR THE PURPOSE OF PROVIDING FUNDS FOR (I) (A) THE CURRENT REFUNDING AND REDEMPTION OF A CERTAIN PORTION OF THE CITY’S OUTSTANDING City of Vicksburg Page 1 Printed on 8/5/2014 Board of Mayor and Aldermen Minutes - Final July 25, 2014 $5,800,000 GENERAL OBLIGATION BONDS, SERIES 2003, DATED SEPTEMBER 1, 2003 (THE “2003 BONDS”) AND (B) THE CURRENT REFUNDING AND REDEMPTION OF A CERTAIN PORTION OF THE CITY’S OUTSTANDING $16,900,000 GENERAL OBLIGATION BONDS, SERIES 2007, DATED SEPTEMBER 1, 2007 (THE ”2007 BONDS); AND (II) PAYING THE COSTS OF ISSUANCE IN CONNECTION THEREWITH; AND (III) FOR RELATED PURPOSES. The motion was adopted unanimously by the following vote: Aye: 3- Mayor Flaggs, Alderman Mayfield, and Alderman Thompson Enactment No: RES 2014-009 Executive Session: Alderman Mayfield moved the Mayor and Aldermen go into a closed meeting to determine if the Board should go into executive session. The motion was seconded by Alderman Thompson. Voting aye, Mayor Flaggs, Alderman Mayfield, Alderman Thompson. None voting nay, the motion was unanimously adopted. The Mayor and Aldermen discuss whether or not they should go into executive session. Alderman Mayfield moved to go into executive session to discuss Litigation Matter. The motion was seconded by Alderman Thompson, and upon vote being taken, the following voting aye: Mayor Flaggs, Alderman Mayfield, Alderman Thompson. None voting nay, the motion was unanimously adopted. The Mayor and Aldermen announced they would go into executive session to discuss Litigation Matter. The motion was seconded by Alderman Thompson, and upon vote being taken, the following voting aye: Mayor Flaggs, Alderman Mayfield, Alderman Thompson. None voting nay, the Mayor and Aldermen of the City of Vicksburg went into executive session to discuss a Litigation Matter. The Mayor and Aldermen are now in executive session. Those present at the executive session were Mayor Flaggs, Alderman Mayfield, Alderman Thompson, Walter W. Osborne, Jr. - City Clerk, Nancy Thomas - City Attorney, Tasha W. Jordan - Deputy City Clerk, Brian Boykins - Mayor's Administrative Assistant, Denitta Reed - Southward Administrative Assistant, Doug Whittington - Director of Finance, Demery Grubbs, Tray Hairston, Lucian Bourgeois. Aye: 3- Mayor Flaggs, Alderman Mayfield, and Alderman Thompson Litigation Matters: A. ID-14-0325 Executive Session: 1. Litigation Matter On motion of Mayor Flaggs, seconded by Alderman Thompson, the Mayor and Aldermen authorized hiring Butler Snow, LLP to enter into voluntary program regarding disclosures concerning annual federal reporting with Security and Exchange Commission. The motion was adopted unanimously by the following vote: Aye: 3- Mayor Flaggs, Alderman Mayfield, and Alderman Thompson Adjournment There being no further business appearing, on motion of Alderman Mayfield, seconded by Alderman Thompson, and unanimously passed, The Mayor and Aldermen of the City of Vicksburg adjourned. MAYOR ATTEST: CITY CLERK Aye: 3- Mayor Flaggs, Alderman Mayfield, and Alderman Thompson City of Vicksburg Page 2 Printed on 8/5/2014