City Council Minutes March 9, 1999

CC3827

3-15-99

CITY COUNCIL PROCEEDINGS OF THE CITY OF SHREVEPORT, LOUISIANA

MARCH 9, 1999

The regular meeting of the City Council of the City of Shreveport, State of Louisiana, was called to order by Chairman John David Stewart at 3:06 p.m.,Tuesday, March 9, 1999, in the Auditorium of the Louisiana State Exhibit Museum, 3015 Greenwood Road. Invocation was given by Councilman Carmody.

On roll call, the following members were present: Councilmen Huckaby, Stewart, Carmody, Serio, Spigener, Shyne and Burrell. 7. Absent: None.

Bid Opening for $39,985,000 Million General Obligation Bonds, 1999

Councilman Stewart: The matter involves a $39,985,000 of General Obligation Bonds. Mr. Schlueter is with us today with developing information and we'll address that later on in the meeting.

Mr. Schlueter, Bond Counsel: Today is the appointed time for the bid opening on the $39,985,000 General Obligation Bonds, it'll be the final issue of bonds from the 1996 authorization. Seven bid were submitted timely. I understand (inaudible), Finance Director and you have several resolutions on your agenda for consideration. The first one, under 9A, Item 35 that provides for the opening of the sealed bids (Council considered the resolution prior to bid opening). Motion by Councilman Shyne to amend the agenda to consider Resolution No. 35 of 1999, seconded by Councilman Spigener; motion unanimously approved.

Mr. Schlueter opened the sealed bids: (1) A. G. Edwards and Sons, 4.830257%; (2) Dane Raucher, 4.829149%, (3) First Chicago, 4.799966%; (4) Morgan Keegan, 4.813689%; (5) Stevens, Inc., 4.796482%; (6) Payne Weber, 4.822927%; and (7) Merrill Lynch, 4.810160%.

There is a hand-out coming around to you, it has two pages. The top page is the bid tabulation and bid summary. All of the bids have been verified by Ms. Washington and myself and you will see at the top the name of each bidder and a key figure is the TIC calculation, which is about three or four lines down beneath the name of each bidder. The last bidder, the last column is Stevens, Inc. They do have the low bid at 4.796482% and their bid conforms to all the bidding specifications, and of course, we are going to recommend acceptance of that bid (report given at the end of the meeting).

Just a couple of very brief comments. First of all we received seven bids today, that is an extraordinarily high number of bidders plus you had large bidding syndicates that included just about every major investment banking house in the country, so you had widespread interest in the issue. Your bond rating has been confirmed at A-1 and A+ by the two national bond rating agencies. The Standard and Poor's as far as rating is the highest for any municipality in the state of Louisiana, continues to be so. The Moody's rating is the highest also, but there are two other municipalities that now have that same rating. So, Shreveport together with two municipalities in St. Tammy Parish, Slidell and Manderville, continue to have the highest rating in the state.

The bond issue was also sent to the four national bond insuring companies in the United States and it qualified for bond insurance with all four company which means to each of the bidders that responded today, has the option of purchasing bond insurance, paying for it themselves, not out of city funds and if they do elect to so purchase the bond insurance, then your rating is automatically elevated to the highest rating, which is AAA on this bond issues. The low bidder, Stephens, Inc, did elect to purchase bond insurance at their own cost and accordingly this issue will have a AAA rating with FGIC bond insurance.

In connection with the reports to each of the rating agencies, I think it is very well deserved to mention, that the rating agencies, both of them continue to site the prudent fiscal policy of the city and that's in their written reports and they reaffirmed that in their latest reports. With this bond sale, you would have completed the '96 voter authorization of bonds, almost $105 million and you will have sold the vast majority of all of those bonds at under 5%; so, I think that speaks very well. The Council considered the Resolution Nos. 33 and 34.

Mr. Schlueter: We anticipate closing and delivery of the bonds on April 28; money will be in the bank for the projects and that'll complete the bond process.

Approval of the Summary Minutes of the Administrative Conference of February 22, 1999, Minutes of the Regular Meeting of February 23, 1999 and the Agenda as Amended on March 8, 1999. Motion by Councilman Spigener, seconded by Councilman Shyne and approved by the following vote: Ayes: Councilmen Huckaby, Stewart, Carmody, Serio, Spigener, Shyne and Burrell. 7. Absent: None.

Awards, Recognition of Distinguished Guests and Communications of the Mayor Which Are Required by Law. None

Communications of the Mayor and the Council: Mayor Hightower: None.

Councilman Stewart: I understand that you will be out of the city for the remainder of this week?

Mayor Hightower: Yes, sir for the next two days. Tonight we will go down to the Red River Waterway Commission, a proposal that each Council member have been privy to. Roy, I apologize. I had your's in my briefcase when we were in Kansas. You kept me so busy. Councilman Burrell: Arlena brought me up to date on it. Mayor Hightower: We'll do that, our presentation in Natchitoches and then tomorrow I'll be in Washington for a meeting with our Legislative delegation.

Councilman Shyne: Mr. Mayor, I received a communication from Mr. Antee. He is responding to a letter that I wrote to Gene Eddy for benches and shelters for people who ride Sportran. And I happen to represent some of the not very-affluent and we do a lot of bus riding, in District F. And I would appreciate it if the Chief Administrative Officer would make sure that Mr. Eddy realizes that, and the some benches in key places and some shelters. Because I've had a number of complaints from persons that I represent who have to ride the bus and they ride it during bad weather, stand out in bad weather. And of course, they go by and see a shelter in other areas not being utilized and they wonder why we can't move those from that area into an area where they are utilized (inaudible). Mayor Hightower: If you'll give us some suggestions on those. Councilman Shyne: I'll do that.

Councilman Burrell: I left Washington D.C. on yesterday and came back through a lot of bad weather, I guess, coming out of Memphis. I was able to meet with Senator Laundrieu a little while I was up there going to the Congress of Cities conference that is held every year. And I informed her of some of the things that we were doing and she wanted to---there are (inaudible) and she is up there working on some projects which she can work on. Just send that information to her Project Director and I met with the Project Director too, giving them an overview of our (inaudible) if nothing else and extended them (inaudible) with our inner city or center city. They seemed to be very interested in that. So, they should be coming around and saying that there are some projects that we need to work on concerning that (inaudible).

Councilman Shyne: Councilman Burrell was meeting with Senator Laundrieu, I was meeting with the minority business people. Mr. Mayor, this is a list of questions that they want to bring in and present to you and the Council about the bond projects. And what I'd like to do, is at the end of the Council session, I'd like to read the questions to you and you don't necessarily have to respond to them today, but I think we'll document it.

Public Hearings: None.

Confirmations and/or Appointments: (1) Staff Confirmations: Motion by Councilman Shyne, seconded by Councilman Carmody for confirmation as Controller, Mr. John M. Pistorius and as Bureau Chief for Code Enforcement, Wardell Bowie. Motion approved by the following vote: Ayes: Councilman Huckaby, Stewart, Carmody, Serio, Spigener, Shyne and Burrell. 7. Nays: None.

(2) Board Appointment: Motion by Councilman Burrell, seconded by Councilman Serio for the appointment of Mr. Ben Levy to the Airport Authority and Reverend Joe Gant to the Airport Authority. Motion approved by the following vote: Ayes: Councilman Huckaby, Stewart, Carmody, Serio, Spigener, Shyne and Burrell. 7. Nays: None.

(3) Motion by Councilman Burrell, seconded by Councilman Huckaby to elect Judge Carl E. Stewart, to a second five year term to the Board of the Community Foundation of Shreveport-Bossier. Motion approved by the following vote: Ayes: Councilman Huckaby, Stewart, Carmody, Serio, Spigener, Shyne and Burrell. 7. Nays: None.

The Council considered the Consent Agenda legislation:

INTRODUCTION OF RESOLUTIONS AND ORDINANCES ON CONSENT:

Motion by Councilman Carmody, seconded by Councilman Shyne for Introduction of the Resolutions on the Consent Agenda. Motion approved by the following vote: Ayes: Councilmen Huckaby, Stewart, Carmody, Serio, Spigener, Shyne and Burrell. 7. Nays: None. Absent:

INTRODUCTION OF RESOLUTIONS:

1. Resolution No. 39-A of 1999: A resolution authorizing the Mayor to execute grant documents with the Louisiana Highway Safety Commission for the acceptance of grant funds and otherwise provide with respect thereto.

2. Resolution No. 40 of 1999: A resolution authorizing the Mayor to accept a donation of $44,000.00 cash for purchase of cardiac monitor/defibrillators for use by Shreveport Fire Department, and to otherwise provide with respect thereto.

INTRODUCTION OF ORDINANCES: None.

ADOPTION OF RESOLUTIONS AND ORDINANCES ON CONSENT:

Motion by Councilman Spigener, seconded by Councilman Burrell for Adoption of the Resolutions and Ordinance on the Consent Agenda. Motion approved by the following vote: Ayes: Councilmen Huckaby, Stewart, Carmody, Serio, Spigener, Shyne and Burrell. 7. Nays: None. Absent:

RESOLUTION NO. 32 OF 1999

A RESOLUTION AUTHORIZING THE MAYOR TO APPLY FOR THE 1999 WEED AND SEED "DEMONSTRATION SITE" GRANT FUNDED BY THE UNITED STATES DEPARTMENT OF JUSTICE, AND OTHERWISE PROVIDE WITH RESPECT THERETO

WHEREAS, the City of Shreveport has been invited, by Assistant Attorney General Laurie Robinson, to apply for the 1999 U. S. Department of Justice Weed and Seed Grant; and

WHEREAS, these funds will be used to strengthen the the Weed and Seed strategy currently in place within our community, and

WHEREAS, the City of Shreveport shall make application for Weed and Seed funding by March 16, 1999. This grant initiative is a key component of the anti-violence program, and also part of the Clinton Administration's larger community revitalization strategy.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Shreveport, in due, legal and regular session convened, that it does hereby authorize the execution by Keith Hightower, Mayor, those grant documents necessary to apply for the 1999 Weed and Seed Grant and any other companion funding offered by the United States Department of Justice.

BE IT FURTHER RESOLVED that if any provision or item of this resolution or the application thereof is held invalid, such invalidity shall not affect other provisions, items or applications of this resolution which can be given effect without the invalid provisions, items or applications and to this end the provision of this resolution are hereby declared severable.

BE IT FURTHER RESOLVED that all resolutions or parts thereof in conflict herewith are hereby declared repealed.

RESOLUTION NO. 37 OF 1999

A RESOLUTION REJECTING BIDS RECEIVED ON IFB #98-250 FOR LAMBERT PARK DRAINAGE IMPROVEMENTS AND TO OTHERWISE PROVIDE WITH RESPECT THERETO.

WHEREAS, two (2) bids were received as a result of solicitations for Lambert Park Drainage Improvements, IFB #98-250; and

WHEREAS, the City has rejected the bids due to the fact that bids received were in excess of the projected budget estimate of the Department of Public Works Engineering; and

WHEREAS, the Department of Public Works Engineering will revise the specifications and rebid at a later date.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Shreveport in due, legal and regular session convened that the bids received on IFB #98-250 be rejected.

New bids may be solicited at a future date.

BE IT FURTHER RESOLVED that all resolutions or parts thereof in conflict herewith are hereby declared repealed.

ORDINANCES:

ORDINANCE NO. 23 OF 1999

AN ORDINANCE CLOSING AND ABANDONING ALL THE REMAINING ALLEY IN BLOCK "G" OF GLADSTONE SUBDIVISION RUNNING BETWEEN WHEELESS AVENUE AND CENTENARY BOULEVARD AND BETWEEN RUTHERFORD STREET AND KINGS HIGHWAY, AND TO OTHERWISE PROVIDE WITH RESPECT THERETO.

BE IT ORDAINED by the City Council of the City of Shreveport, in due, legal, and regular session convened, that all of the remaining dedicated alleyway in Block "G" of the Gladstone Subdivision located in the block bounded by Rutherford Street and Kings Highway and by Wheeless Avenue and Centenary Boulevard in the NE/4 of Section 7 (T17N-R13W), Caddo Parish, Louisiana, and as shown and as indicated on the plat attached hereto and made a part hereof, is hereby closed and abandoned, and be it ordained that a utility servitude be retained for existing facilities throughout the closed and abandoned alleyway.

BE IT FURTHER ORDAINED that a certified copy of this ordinance be filed and recorded in the official records of the District Court for Caddo Parish, Louisiana.

BE IT FURTHER ORDAINED that if any provision or item of this ordinance or the application thereof is held invalid, such invalidity shall not affect other provisions, items or applications of this ordinance which can be given effect without the invalid provisions, items or applications and to this end the provisions of this ordinance are hereby declared severable.

BE IT FURTHER ORDAINED that all ordinances or resolutions or parts thereof in conflict herewith are hereby repealed.

/s/John David Stewart, Chairman

/s/Arthur G. Thompson, Clerk of Council

RESOLUTIONS ON SECOND READING AND FINAL PASSAGE:

Offered by Councilman Shyne and seconded by Councilman Burrell:

RESOLUTION NO. 33 OF 1999

A RESOLUTION ACCEPTING THE BEST BID SUBMITTED FOR THE PURCHASE OF THIRTY-NINE MILLION NINE HUNDRED EIGHTY-FIVE THOUSAND DOLLARS ($39,985,000) OF GENERAL OBLIGATION BONDS, SERIES 1999, OF THE CITY OF SHREVEPORT, STATE OF LOUISIANA.

WHEREAS, pursuant to the provisions of a Notice of Bond Sale dated January 26, 1999, published in the manner required by law, and pursuant to the provisions of Resolution No. 13 of 1999 adopted by the Council of the City of Shreveport, State of Louisiana (the "Issuer"), on January 26, 1999, sealed bids were solicited for the purchase of Thirty-Nine Million Nine Hundred Eighty-Five Thousand Dollars ($39,985,000) of General Obligation Bonds, Series 1999, of the Issuer (the "Bonds"), on March 9, 1999, and

WHEREAS, seven (7) bids were received for the purchase of the Bonds; and

WHEREAS, this Council has found and determined and does hereby find and determine that the bid submitted by Stephens Inc., of Little Rock, Arkansas (the "Purchaser"), is the best bid received for the Bonds, and such bid complies with all terms and conditions prescribed by the Notice of Bond Sale and Official Statement; and

WHEREAS, this Council desires to accept said bid and to take such action as may be necessary to accomplish the delivery of the Bonds to the Purchaser;

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Shreveport, State of Louisiana, acting as the governing authority of said City, that:

SECTION 1. The bid of the Purchaser for the purchase of the Bonds, a copy of which is annexed hereto as Exhibit A, is hereby accepted and the Bonds are hereby awarded in compliance with the terms of the bid.

SECTION 2. When the Bonds have been properly prepared, the Mayor, Clerk of Council and/or Director of Finance are hereby authorized to deliver the Bonds to the Purchaser upon the payment of Thirty-Nine Million Nine Hundred Eighty-Five Thousand Dollars ($39,985,000) plus a premium of $8,430.45 plus accrued interest from the date of the Bonds to the date of delivery of the Bonds.

SECTION 3. This Council hereby finds that due diligence has been exercised in preparing the Bonds for sale and in preparing the Official Statement pertaining to the Bonds, and in view of that fact, the Finance Director is hereby authorized and directed to execute and deliver to the successful bidder, as set forth herein, at the time of closing, a certificate which shall be substantially in the form of the certificate annexed hereto as Exhibit B.

Read by title and as read motion by Councilman Shyne, seconded by Councilman Burrellpassed by the following vote: Ayes: Councilmen Huckaby, Stewart, Carmody, Serio, Spigener, Shyne and Burrell. 7. Nays: None.

RESOLUTION NO. 34 of 1999

Offered by Councilman Huckaby and seconded by Councilman Spigener:

RESOLUTION

A RESOLUTION AUTHORIZING THE INCURRING OF DEBT AND ISSUANCE OF THIRTY-NINE MILLION NINE HUNDRED EIGHTY-FIVE THOUSAND DOLLARS ($39,985,000) OF GENERAL OBLIGATION BONDS, SERIES 1999, OF THE CITY OF SHREVEPORT, STATE OF LOUISIANA; PRESCRIBING THE FORM, TERMS AND CONDITIONS OF SAID BONDS; DESIGNATING THE DATE, DENOMINATION AND PLACE OF PAYMENT OF SAID BONDS; PROVIDING FOR THE PAYMENT THEREOF IN PRINCIPAL AND INTEREST; AND PROVIDING FOR OTHER MATTERS IN CONNECTION THEREWITH.

BE IT RESOLVED by the City Council of the City of Shreveport, State of Louisiana, acting as the governing authority of said City, that:

SECTION 1. Definitions. As used herein, the following terms shall have the following meanings, unless the context otherwise requires:

"Agreement" means the agreement to be entered into between the Issuer and the Paying Agent pursuant to this Resolution.

"Bond" means any Bonds of the Issuer authorized to be issued by this Resolution, whether initially delivered or issued in exchange for, upon transfer of, or in lieu of any Bond previously issued.

"Bond Register" means the records kept by the Paying Agent at its principal corporate office in which registration of the Bonds and transfers of the Bonds shall be made as provided herein.

"Bonds" means the Issuer's General Obligation Bonds, Series 1999, authorized by this Resolution, in the total aggregate principal amount of Thirty-Nine Million Nine Hundred Eighty-Five Thousand Dollars ($39,985,000).

"Code" means the Internal Revenue Code of 1986, as amended.

"Executive Officers" means, collectively, the Mayor, the Director of Finance and the Clerk of Council of the Issuer.

"Governing Authority" means the City Council of the City of Shreveport, State of Louisiana.

"Government Securities" means direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by the United States of America, which are non-callable prior to their maturity, may be United States Treasury obligations such as the State and Local Government Series and may be in book-entry form.

"Interest Payment Date" means March 1 and September 1 of each year, commencing September 1, 1999.

"Issuer" means the City of Shreveport, State of Louisiana.

"Outstanding" when used with respect to Bonds means, as of the date of determination, all Bonds theretofore issued and delivered under this Resolution, except:

1. Bonds theretofore canceled by the Paying Agent or delivered to the Paying Agent for cancellation;

2. Bonds for which payment or redemption sufficient funds have been theretofore deposited in trust for the owners of such Bonds, provided that if such Bonds are to be redeemed, irrevocable notice of such redemption has been duly given or provided for pursuant to this Resolution or waived;

3. Bonds in exchange for or in lieu of which other Bonds have been registered and delivered pursuant to this Resolution;

4. Bonds alleged to have been mutilated, destroyed, lost or stolen which have been paid as provided in this Resolution or by law; and

5. Bonds for the payment of the principal (or redemption price, if any) of and interest on which money or Government Securities or both are held in trust with the effect specified in this Resolution.

"Owner" or "Owners" when used with respect to any Bond means the Person in whose name such Bond is registered in the Bond Register.

"Paying Agent" means The Trust Company of Louisiana, in the City of Ruston, Louisiana, until a successor Paying Agent shall have been appointed pursuant to the applicable provisions of this Resolution and thereafter "Paying Agent" shall mean such successor Paying Agent.

"Person" means any individual, corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof.

"Purchaser" means Stephens Inc., of Little Rock, Arkansas, the original purchasers of the Bonds.

"Record Date" for the interest payable on any Interest Payment Date means the 15th calendar day of the month next preceding such Interest Payment Date.

"Resolution" means this resolution authorizing the issuance of the Bonds, as it may be supplemented and amended.

SECTION 2. Authorization of Bonds; Maturities. In compliance with the terms and provisions of Article VI, Section 33 of the Constitution of the State of Louisiana of 1974, Sub-Part A, Part III, Chapter 4, Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority, and being authorized at a special election held on April 26, 1996, there is hereby authorized the incurring of an indebtedness of Thirty-Nine Million Nine Hundred Eighty-Five Thousand Dollars ($39,985,000) for, on behalf of, and in the name of the Issuer, for various public safety, parks and recreation, streets, Sportran, riverfront park extension and/or drainage projects, as set forth in Proposition Nos. 1, 2, 4, 6, 8, and 10, respectively, title to which shall be in the public, this Governing Authority does hereby authorize the issuance of Thirty-Nine Million Nine Hundred Eighty-Five Thousand Dollars ($39,985,000) of General Obligation Bonds, Series 1999, of the Issuer. The Bonds constitute the fourth and final emission of Bonds authorized at said election, shall be in fully registered form, shall be dated March 1, 1999, shall be issued in the denomination of Five Thousand Dollars ($5,000) each or any integral multiple thereof within a single maturity and shall be numbered from R-1 upward. The unpaid principal of the Bonds shall bear interest from the date thereof or from the most recent Interest Payment Date to which interest has been paid or duly provided for, payable on each Interest Payment Date, commencing September 1, 1999, at the following rates of interest and shall mature serially on March 1 of each year as follows:

Year Principal Interest Rate Year Principal Interest Rate

(March 1) Maturing Per Annum (March 1) Maturing Per Annum

2000 $1,195,000 4.50% 2010 $1,965,000 4.40%

2001 1,255,000 5.00 2011 2,070,000 4.55

2002 1,320,000 5.00 2012 2,175,000 4.60

2003 1,385,000 5.00 2013 2,285,000 4.70

2004 1,455,000 4.50 2014 2,405,000 4.80

2005 1,530,000 4.50 2015 2,525,000 4.90

2006 1,610,000 4.10 2016 2,655,000 4.90

2007 1,695,000 4.20 2017 2,790,000 5.00

2008 1,780,000 5.00 2018 2,935,000 5.00

2009 1,870,000 5.00 2019 3,085,000 5.00

The principal of the Bonds, upon maturity or redemption, shall be payable at the principal corporate office of the Paying Agent, upon presentation and surrender thereof, and interest on the Bonds shall be payable by check of the Paying Agent mailed by the Paying Agent to the Owner (determined as of the close of business on the Record Date) at the address shown on the Bond Register. Each Bond delivered under this Resolution upon transfer of, in exchange for or in lieu of any other Bond shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Bond, and each such Bond shall bear interest (as herein set forth) so neither gain nor loss in interest shall result from such transfer, exchange or substitution.

No Bond shall be entitled to any right or benefit under this Resolution, or be valid or obligatory for any purpose, unless there appears on such Bond a certificate of registration, substantially in the form provided in this Resolution, executed by the Paying Agent by manual signature.

SECTION 3. Redemption Provisions. The Bonds maturing on March 1, 2010, and thereafter, shall be callable for redemption at the option of the Issuer in full at any time on or after March 1, 2009 or in part in the inverse order of their maturities, and if less than a full maturity then by lot within such maturity, on any Interest Payment Date on or after March 1, 2009, at the principal amount thereof, plus accrued interest from the most recent Interest Payment Date to which interest has been paid or duly provided for. In the event a Bond to be redeemed is of a denomination larger than $5,000, a portion of such Bond ($5,000 or any multiple thereof) may be redeemed. Any Bond which is to be redeemed only in part shall be surrendered at the principal corporate office of the Paying Agent and there shall be delivered to the Owner of such Bond a new Bond or Bonds of the same maturity and of any authorized denomination or denominations as requested by such Owner in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Bond so surrendered. Official notice of such call of any of the Bonds for redemption shall be given by means of first class mail, postage prepaid, by notice deposited in the United States mails not less than thirty (30) days prior to the redemption date addressed to the Owner of each Bond to be redeemed at his address as shown on the Bond Register.

SECTION 4. Registration and Transfer. The Issuer shall cause the Bond Register to be kept by the Paying Agent. The Bonds may be transferred, registered and assigned only on the Bond Register, and such registration shall be at the expense of the Issuer. A Bond may be assigned by the execution of an assignment form on the Bond or by other instruments of transfer and assignment acceptable to the Paying Agent. A new Bond or Bonds will be delivered by the Paying Agent to the last assignee (the new Owner) in exchange for such transferred and assigned Bonds after receipt of the Bonds to be transferred in proper form. Such new Bond or Bonds shall be in the denomination of $5,000 or any integral multiple thereof within a single maturity. Neither the Issuer nor the Paying Agent shall be required to issue, register, transfer or exchange any Bond during a period beginning (i) at the opening of business on a Record Date and ending at the close of business on the Interest Payment Date or (ii) with respect to Bonds to be redeemed, at the opening of business fifteen (15) days before the date of the mailing of a notice of redemption of such Bonds and ending on the date of such redemption.

SECTION 5. Form of Bonds. The Bonds and the endorsements to appear thereon shall be in substantially the following forms, respectively, to-wit:

(FORM OF FACE OF BOND)

No. R-_____ Principal Amount $_________

UNITED STATES OF AMERICA

STATE OF LOUISIANA

PARISH OF CADDO

GENERAL OBLIGATION BOND, SERIES 1999

OF THE

CITY OF SHREVEPORT, STATE OF LOUISIANA

Maturity Interest Bond CUSIP

Date Rate Date

March 1, ____ ______% March 1, 1999 __________

The City of Shreveport, State of Louisiana (the "Issuer"), promises to pay to:

___________________________________________

or registered assigns, on the Maturity Date set forth above, the Principal Amount set forth above, together with interest thereon from the Bond Date set forth above or the most recent interest payment date to which interest has been paid or duly provided for, payable on September 1, 1999, and semiannually thereafter on March 1 and September 1 of each year (each an "Interest Payment Date"), at the Interest Rate per annum set forth above until said Principal Amount is paid, unless this Bond shall have been previously called for redemption and payment shall have been made or duly provided for. The principal of this Bond, upon maturity or redemption, is payable in lawful money of the United States of America at the principal corporate trust office of The Trust Company of Louisiana, in the City of Ruston, Louisiana, or successor thereto (the "Paying Agent"), upon presentation and surrender hereof. Interest on this Bond is payable by check mailed by the Paying Agent to the registered owner (determined as of the close of business on the 15th calendar day of the month next preceding the Interest Payment Date) at the address as shown on the registration books of the Paying Agent.

REFERENCE IS MADE TO THE FURTHER PROVISIONS OF THIS BOND SET FORTH ON THE REVERSE HEREOF WHICH SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS THOUGH FULLY SET FORTH HEREIN.

This Bond shall not be valid or become obligatory for any purpose or be entitled to any security or benefit under the Resolution (herein defined) until the certificate of registration hereon shall have been signed by the Paying Agent.

It is certified that this Bond is authorized by and is issued in conformity with the requirements of the Constitution and statutes of this State. It is further certified, recited and declared that all acts, conditions and things required to exist, to happen and to be performed precedent to and in the issuance of this Bond and the issue of which it forms a part to constitute the same legal, binding and valid obligations of the Issuer have existed, have happened and have been performed in due time, form and manner as required by law, and that the indebtedness of the Issuer, including this Bond and the issue of which it forms a part, does not exceed the limitations prescribed by the Constitution and statutes of the State of Louisiana.

IN WITNESS WHEREOF, the City Council of the City of Shreveport, State of Louisiana, acting as the governing authority thereof, has caused this Bond to be executed in the name of the Issuer by the facsimile signatures of its Mayor, Clerk of Council and Director of Finance and a facsimile of its corporate seal to be imprinted hereon.

CITY OF SHREVEPORT,

STATE OF LOUISIANA

/s/Clerk of Council /s/Mayor

/s/Director of Finance

(SEAL)

* * * * * *

(FORM OF REVERSE OF BOND)

This bond is one of an authorized issue aggregating in principal the sum of Thirty-Nine Million Nine Hundred Eighty-Five Thousand Dollars ($39,985,000) (the "Bonds"), all of like tenor and effect except as to number, denomination, interest rate and maturity, said Bonds having been issued by the Issuer pursuant to Resolution No. 34 of 1999 adopted by its governing authority on March 9, 1999 (the "Resolution"), for various public safety, parks and recreation, streets, Sportran, riverfront park extension and/or drainage projects, as set forth in Proposition Nos. 1, 2, 4, 6, 8, and 10, respectively, approved at the hereinafter described election, title to which shall be in the public, under the authority conferred by Article VI, Section 33 of the Constitution of the State of Louisiana of 1974, Sub-Part A, Part III, Chapter 4, Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority, and were authorized at an election held on April 20, 1996, the results of which election have been duly promulgated in accordance with law.

The Bonds maturing on March 1, 2010 and thereafter, are callable for redemption at the option of the Issuer in full at any time on or after March 1, 2009, or in part in the inverse order of their maturities, and if less than a full maturity then by lot within such maturity, on any Interest Payment Date on or after March 1, 2009, at the principal amount thereof, plus accrued interest from the most recent Interest Payment Date to which interest has been paid or duly provided for. In the event any Bond to be redeemed is of a denomination larger than $5,000, a portion of such Bond ($5,000 or any multiple thereof) may be redeemed. Official notice of such call of any of the Bonds for redemption shall be given by means of first class mail, postage prepaid, by notice deposited in the United States mail not less than thirty (30) days prior to the redemption date addressed to the registered owner of each Bond to be redeemed at his address as shown on the registration books of the Paying Agent.

The Issuer shall cause to be kept at the principal corporate office of the Paying Agent a register (the "Bond Register") in which registration of the Bonds and of transfers of the Bonds shall be made as provided in the Resolution. This Bond may be transferred, registered and assigned only on the Bond Register, and such registration shall be at the expense of the Issuer. This Bond may be assigned by the execution of the assignment form hereon or by other instrument of transfer and assignment acceptable to the Paying Agent. A new Bond or Bonds will be delivered by the Paying Agent to the last assignee (the new registered owner) in exchange for this transferred and assigned Bond after receipt of this Bond to be transferred in proper form. Such new Bond or Bonds shall be in the denomination of $5,000 or any integral multiple thereof within a single maturity. Neither the Issuer nor the Paying Agent shall be required to issue, register, transfer or exchange any Bond during a period beginning (i) at the opening of business on the 15th calendar day of the month next preceding an Interest Payment Date and ending at the close of business on the Interest Payment Date or (ii) with respect to Bonds to be redeemed, at the opening of business fifteen (15) days before the date of the mailing of a notice of redemption of such Bonds and ending on the date of such redemption.

This Bond and the issue of which it forms a part constitute general obligations of the Issuer, and the full faith and credit of the Issuer is pledged for the payment of this Bond and the issue of which it forms a part. The Bonds are secured by a special tax to be imposed and collected annually in excess of all other taxes on all the property subject to taxation within the territorial limits of the Issuer, under the Constitution and laws of Louisiana, sufficient in amount to pay the principal of this Bond and the issue of which it forms a part and the interest thereon as they severally mature.

This Bond and the issue of which it forms a part have been duly registered with the Secretary of State of Louisiana as provided by law.

* * * * * *

(FORM OF SECRETARY OF STATE ENDORSEMENT - TO BE PRINTED ON ALL BONDS)

OFFICE OF SECRETARY OF STATE

STATE OF LOUISIANA

BATON ROUGE

This Bond secured by a tax. Registered on this, the _____ day of ___________,

1999.

Secretary of State

* * * * * *

(FORM OF PAYING AGENT'S CERTIFICATE OF REGISTRATION)

This Bond is one of the Bonds referred to in the within-mentioned Resolution.

The Trust Company of Louisiana

Ruston, Louisiana

as Paying Agent

Date of Registration: By:

Authorized Officer

* * * * * *

(FORM OF ASSIGNMENT)

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers

unto

______________________________________________________________________________

Please Insert Social Security

or other Identifying Number of Assignee

the within Bond and all rights thereunder, and hereby irrevocably constitutes and appoints

________________________________________________________________________________

_____________________________________________ attorney or agent to transfer the within

Bond on the books kept for registration thereof, with full power of substitution in the premises.

Dated: ___________ _______________________________________________

NOTICE: The signature to this assignment must correspond with the name as it appears upon the face of the within Bond in every particular, without alteration or enlargement or any change whatever.

* * * * * *

(FORM OF LEGAL OPINION CERTIFICATE - TO BE PRINTED ON ALL BONDS)

I, the undersigned Clerk of Council of the City of Shreveport, State of Louisiana, do hereby certify that the following is a true copy of the complete legal opinion of Foley & Judell, L.L.P., the original of which was manually executed, dated and issued as of the date of payment for and delivery of the original Bonds of the issue described therein and was delivered Stephens Inc., of Little Rock, Arkansas, representing the original purchasers thereof:

(Bond Printer Shall Insert Legal Opinion)

I further certify that an executed copy of the above legal opinion is on file in my office, and that an executed copy thereof has been furnished to the Paying Agent for this Bond.

(Facsimile)

Clerk of Council

* * * * * *

[BOND PRINTER TO INSERT APPROPRIATE INSURANCE LANGUAGE]

* * * * * *

SECTION 6. Execution of Bonds. The Bonds shall be signed by the Executive Officers for, on behalf of, in the name of and under the corporate seal of the Issuer, and the Legal Opinion Certificate shall be signed by the Clerk of Council of the Issuer, which signatures and corporate seal may be either manual or facsimile.

SECTION 7. Registration of Bonds. The Bonds shall be registered with the Secretary of State of the State of Louisiana as provided by law and shall bear the endorsement of the Secretary of State in substantially the form set forth herein, provided that such endorsement shall be manually signed only on the Bonds initially delivered to the Purchaser, and Bonds subsequently exchanged therefor as permitted in this Resolution may bear the facsimile signature of said Secretary of State.

SECTION 8. Pledge of Full Faith and Credit. The Bonds shall constitute general obligations of the Issuer, and the full faith and credit of the Issuer is hereby pledged for their payment. This Governing Authority does hereby obligate itself and is bound under the terms and provisions of law and the election authorizing the Bonds to impose and collect annually in excess of all other taxes a tax on all of the property subject to taxation within the territorial limits of the Issuer sufficient to pay the principal of and the interest on the Bonds falling due each year, said tax to be levied and collected by the same officers, in the same manner and at the same time as other taxes are levied and collected within the territorial limits of the Issuer.

SECTION 9. Sinking Fund. For the payment of the principal of and the interest on the Bonds, the Issuer will establish a special fund, to be held by the regularly designated fiscal agent of the Issuer (the "Sinking Fund"), into which the Issuer will deposit the proceeds of the aforesaid special tax and no other moneys whatsoever. The depository for the Sinking Fund shall transfer from the Sinking Fund to the Paying Agent at least three (3) days in advance of each Interest Payment Date, funds fully sufficient to pay promptly the principal and interest falling due on such date. All moneys deposited with the regularly designated fiscal agent bank or banks of the Issuer or the Paying Agent under the terms of this Resolution shall constitute sacred funds for the benefit of the Owners of the Bonds, and shall be secured by said fiduciaries at all times to the full extent thereof in the manner required by law for the securing of deposits of public funds. All or any part of the moneys in the Sinking Fund shall, at the written request of the Issuer, be invested in accordance with the provisions of the laws of the State of Louisiana, in which event all income derived from such investments shall be added only to the Sinking Fund.

SECTION 10. Application of Proceeds. The Executive Officers are hereby empowered, authorized and directed to do any and all things necessary and incidental to carry out all of the provisions of this Resolution, to cause the necessary Bonds to be printed, to issue, execute and seal the Bonds, and to effect delivery thereof as hereinafter provided. The proceeds derived from the sale of the Bonds, except accrued interest, shall be deposited by the Issuer with its fiscal agent bank or banks to be used only for the purpose for which the Bonds are issued. Accrued interest, if any, derived from the sale of the Bonds shall be deposited in the Sinking Fund to be applied to the first interest payment.

SECTION 11. Bonds Legal Obligations. The Bonds shall constitute legal, binding and valid obligations of the Issuer and shall be the only representations of the indebtedness as herein authorized and created.

SECTION 12. Resolution a Contract. The provisions of this Resolution shall constitute a contract between the Issuer, or its successor, and the Owner or Owners from time to time of the Bonds and any such Owner or Owners may at law or in equity, by suit, action, mandamus or other proceedings, enforce and compel the performance of all duties required to be performed by this Governing Authority or the Issuer as a result of issuing the Bonds. No material modification or amendment of this Resolution, or of any resolution amendatory hereof or supplemental hereto, may be made without the consent in writing of the Owners of two-thirds (2/3) of the aggregate principal amount of the Bonds then outstanding; provided, however, that no modification or amendment shall permit a change in the maturity or redemption provisions of the Bonds, or a reduction in the rate of interest thereon, or in the amount of the principal obligation thereof, or affecting the obligation of the Issuer to pay the principal of and the interest on the Bonds as the same shall come due from the taxes pledged and dedicated to the payment thereof by this Resolution, or reduce the percentage of the Owners required to consent to any material modification or amendment of this Resolution, without the consent of all of the Owners of the Bonds.

SECTION 13. Severability; Application of Subsequently Enacted Laws. In case any one or more of the provisions of this Resolution or of the Bonds shall for any reason be held to be illegal or invalid, such illegality or invalidity shall not affect any other provisions of this Resolution or of the Bonds, but this Resolution and the Bonds shall be construed and enforced as if such illegal or invalid provisions had not been contained therein. Any constitutional or statutory provisions enacted after the date of this Resolution which validate or make legal any provision of this Resolution and/or the Bonds which would not otherwise be valid or legal, shall be deemed to apply to this Resolution and to the Bonds.

SECTION 14. Recital of Regularity. This Governing Authority having investigated the regularity of the proceedings had in connection with the Bonds herein authorized and having determined the same to be regular, the Bonds shall contain the following recital, to-wit:

"It is certified that this Bond is authorized by and is issued in conformity with the requirements of the Constitution and statutes of the State of Louisiana."

SECTION 15. Effect of Registration. The Issuer, the Paying Agent, and any agent of either of them may treat the Owner in whose name any Bond is registered as the Owner of such Bond for the purpose of receiving payment of the principal (and redemption price) of and interest on such Bond and for all other purposes whatsoever, and to the extent permitted by law, neither the Issuer, the Paying Agent, nor any agent of either of them shall be affected by notice to the contrary.

SECTION 16. Notices to Owners. Wherever this Resolution provides for notice to Owners of Bonds of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first- class postage prepaid, to each Owner of such Bonds, at the address of such Owner as it appears in the Bond Register. In any case where notice to Owners of Bonds is given by mail, neither the failure to mail such notice to any particular Owner of Bonds, nor any defect in any notice so mailed, shall affect the sufficiency of such notice with respect to all other Bonds. Where this Resolution provides for notice in any manner, such notice may be waived in writing by the Owner or Owners entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Owners shall be filed with the Paying Agent, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver.

SECTION 17. Cancellation of Bonds. All Bonds surrendered for payment, redemption, transfer, exchange or replacement, if surrendered to the Paying Agent, shall be promptly canceled by it and, if surrendered to the Issuer, shall be delivered to the Paying Agent and, if not already canceled, shall be promptly canceled by the Paying Agent. The Issuer may at any time deliver to the Paying Agent for cancellation any Bonds previously registered and delivered which the Issuer may have acquired in any manner whatsoever, and all Bonds so delivered shall be promptly canceled by the Paying Agent. All canceled Bonds held by the Paying Agent shall be disposed of as directed in writing by the Issuer.

SECTION 18. Mutilated, Destroyed, Lost or Stolen Bonds. If (1) any mutilated Bond is surrendered to the Paying Agent, or the Issuer and the Paying Agent receive evidence to their satisfaction of the destruction, loss or theft of any Bond, and (2) there is delivered to the Issuer and the Paying Agent such security or indemnity as may be required by them to save each of them harmless, then, in the absence of notice to the Issuer or the Paying Agent that such Bond has been acquired by a bona fide purchaser, the Issuer shall execute, and upon its request the Paying Agent shall register and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost, or stolen Bond, a new Bond of the same maturity and of like tenor, interest rate and principal amount, bearing a number not contemporaneously outstanding. In case any such mutilated, destroyed, lost or stolen Bond has become or is about to become due and payable, the Issuer in its discretion may, instead of issuing a new Bond, pay such Bond. Upon the issuance of any new Bond under this Section, the Issuer may require the payment by the Owner of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Paying Agent) connected therewith. Every new Bond issued pursuant to this Section in lieu of any mutilated, destroyed, lost or stolen Bond shall constitute a replacement of the prior obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone and shall be entitled to all the benefits of this Resolution equally and ratably with all other Outstanding Bonds. Any additional procedures set forth in the Agreement, authorized in this Resolution, shall also be available with respect to mutilated, destroyed, lost or stolen Bonds. The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement and payment of mutilated, destroyed, lost or stolen Bonds.

SECTION 19. Discharge of Resolution; Defeasance. If the Issuer shall pay or cause to be paid, or there shall other-wise be paid to the Owners, the principal (and redemption price) of and interest on the Bonds, at the times and in the manner stipulated in this Resolution, then the pledge of the money, securities, and funds pledged under this Resolution and all covenants, agreements, and other obligations of the Issuer to the Owners of the Bonds shall thereupon cease, terminate, and become void and be discharged and satisfied, and the Paying Agent shall pay over or deliver all money held by it under this Resolution to the Issuer. Bonds or interest installments for the payment or redemption of which money shall have been set aside and shall be held in trust (through deposit by the Issuer of funds for such payment or redemption or otherwise) at the maturity or redemption date thereof shall be deemed to have been paid within the meaning and with the effect expressed above in this Section, if they have been defeased pursuant to Chapter 14-A of Title 39 of the Louisiana Revised Statutes of 1950, as amended, or any successor provisions thereto.

SECTION 20. Successor Paying Agent; Paying Agent Agreement. The Issuer will at all times maintain a Paying Agent meeting the qualifications hereinafter described for the performance of the duties hereunder for the Bonds. The designation of the initial Paying Agent in this Resolution is hereby confirmed and approved. The Issuer reserves the right to appoint a successor Paying Agent by (a) filing with the Person then performing such function a certified copy of a resolution or ordinance giving notice of the termination of the Agreement and appointing a successor and (b) causing notice to be given to each Owner. Every Paying Agent appointed hereunder shall at all times be a bank organized and doing business under the laws of the United States of America or of any state, authorized under such laws to serve as Paying Agent, and subject to supervision or examination by Federal or State authority. The Executive Officers are hereby authorized and directed to execute an appropriate Agreement with the Paying Agent for and on behalf of the Issuer in such form as may be satisfactory to said officers, the signatures of said officers on such Agreement to be conclusive evidence of the due exercise of the authority granted hereunder.

SECTION 21. Arbitrage. The Issuer covenants and agrees that, to the extent permitted by the laws of the State of Louisiana, it will comply with the requirements of the Internal Revenue Code of 1986 and any amendment thereto (the "Code") in order to establish, maintain and preserve the exclusion from "gross income" of interest on the Bonds under the Code. The Issuer further covenants and agrees that it will not take any action, fail to take any action, or permit any action within its control to be taken, or permit at any time or times any of the proceeds of the Bonds or any other funds of the Issuer to be used directly or indirectly in any manner, the effect of which would be to cause the Bonds to be "arbitrage bonds" or would result in the inclusion of the interest on any of the Bonds in gross income under the Code, including, without limitation, (i) the failure to comply with the limitation on investment of Bond proceeds or (ii) the failure to pay any required rebate of arbitrage earnings to the United States of America or (iii) the use of the proceeds of the Bonds in a manner which would cause the Bonds to be "private activity bonds". 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 Section.

SECTION 22. Continuing Disclosure. The Director of Finance of the Issuer is hereby empowered and directed to execute an appropriate Continuing Disclosure Certificate (substantially in the form set forth in Appendix H of the official statement issued in connection with the sale and issuance of the Bonds) pursuant to S.E.C. Rule 15c2-12(b)(5).

SECTION 23. Employment. The employment of Foley & Judell, L.L.P., of New Orleans, Louisiana, as Bond Counsel is hereby confirmed in accordance with Resolution No. 16 of 1996, adopted by the Governing Authority on February 13, 1996.

SECTION 24. Publication. A copy of this Resolution shall be published immediately after its adoption in one (1) issue of the official journal of the Issuer. For a period of thirty (30) days from the date of such publication, any person in interest shall have the right to contest the legality of this Resolution and of the Bonds to be issued pursuant hereto and the provisions hereof securing the Bonds. After the expiration of said thirty (30) days, no one shall have any right of action to contest the validity of the Bonds or the provisions of this Resolution, and the Bonds shall be conclusively presumed to be legal and no court shall thereafter have authority to inquire into such matters.

SECTION 25. Section Headings. The headings of the various sections hereof are inserted for convenience of reference only and shall not control or affect the meaning or construction of any of the provisions hereof.

Read by title and as read motion by Councilman Shyne, seconded by Councilman Carmody passed by the following vote: Ayes: Councilman Huckaby, Stewart, Carmody, Serio, Spigener, Shyne and Burrell. 7. Nays: None.

RESOLUTION NO. 35 OF 1999

A RESOLUTION PROVIDING FOR THE OPENING OF THE SEALED BIDS RECEIVED FOR THE PURCHASE OF

THIRTY-NINE MILLION HUNDRED EIGHTY-FIVE THOUSAND DOLLARS ($39,985,000) OF GENERAL

OBLIGATION BONDS, SERIES 1999, OF THE CITY OF SHREVEPORT, STATE OF LOUISIANA, APPROVING

THE OFFICIAL NOTICE OF BOND OF SALE AND OFFICIAL STATEMENT IN CONNECTION THEREWITH,

AND AUTHORIZING THE MAYOR AND DIRECTOR OF FINANCE TO SIGN COPIES THEREOF AS EVIDENCE

OF THE APPROVAL THEREOF

BE IT RESOLVED by the City Council of the City of Shreveport, State of Louisiana (the "Governing Authority"), acting as the governing authority of the City of Shreveport, State of Louisiana (the "issuer"), that:

SECTION 1. This Governing Authority does now proceed in open and public session to open the sealed bids received for the purchase of Thirty-Nine Million Nine Hundred Eight-Five Thousand Dollars ($39,985,000) of General Obligation Bonds, Series 1999 (the "Bonds"), of the Issuer, authorized at a special election held on April 20, 1996, and duly advertised for sale by virtue of a resolution adopted on January 26, 1999.

SECTION 2. The official Notice of Bond Sale and Official Statement prepared in connection with the sale of the Bonds, and the information contained therein, are hereby approved by this Governing Authority, and the Mayor and the Director of Finance of the Issuer are hereby authorized, empowered and directed to sign copies thereof as evidence of the approval of the Issuer.

RESOLUTION NO. 36 OF 1999

Offered by Councilman Shyne and seconded by Councilman Carmody:

RESOLUTION

A RESOLUTION GIVING PRELIMINARY APPROVAL TO THE ISSUANCE OF NOT TO EXCEED SEVEN

HUNDRED THOUSAND DOLLARS ($700,000) OF CERTIFICATES OF INDEBTEDNESS, SERIES 1999, OF THE

CITY OF SHREVEPORT, STATE OF LOUISIANA; PROVIDING CERTAIN TERMS OF SAID CERTIFICATES;

MAKING APPLICATION TO THE STATE BOND COMMISSION FOR APPROVAL OF SAID CERTIFICATES; AND

PROVIDING FOR OTHER MATTERS IN CONNECTION THEREWITH.

WHEREAS, the General Fund Budget for the City of Shreveport, State of Louisiana (the "Issuer"), for the fiscal year ending December 31, 1999, shows an estimated excess of revenues (including fund balance) over statutory, necessary and usual charges and all other expenses for such fiscal year, which sum is available for the payment of principal and interest on the hereinafter described Certificates of Indebtedness; and

WHEREAS, the surplus reflected for the current fiscal year is sufficient to meet the maximum principal and interest requirements in any future year on the indebtedness herein authorized, and the City Council of the Issuer will herein obligate itself and its successors in office to budget and set aside annually adequate funds for the payment of the Certificates of Indebtedness (hereinafter described) in principal and interest in future years; and

WHEREAS, Sections 2921 to 2925, inclusive, of Title 33 of the Louisiana Revised Statutes of 1950, as amended (R.S. 33:2921-2925) (the "Act"), authorize the Issuer to make and enter into contracts dedicating the excess of annual revenues of subsequent years above statutory, necessary and usual charges to the payment of the cost of public improvements and other obligations which are to be borne by the Issuer under such contracts, provided all such dedications do not exceed the estimated excess of revenue above statutory, necessary and usual charges for the year in which such contract is made; and

WHEREAS, pursuant to the Act, and subject to the approval of the State Bond Commission, the Issuer desires to issue not exceeding $700,000 of Certificates of Indebtedness (the "Certificates"), for the purpose of acquiring police and other vehicles and equipment, and paying the costs of issuance of the Certificates, to be payable from and secured by a pledge and dedication of the excess of annual revenues of the Issuer above statutory, necessary and usual charges in each of the fiscal years during which the Certificates are outstanding; and

WHEREAS, the Issuer desires to make formal application to the State Bond Commission for approval of the Certificates; and

WHEREAS, the Issuer is not now a party to any contract pledging ordedicating its excess annual revenues above statutory, necessary and usual charges, except (i) Refunding Certificates of Indebtedness, Series 1998A, (ii) Taxable Refunding Certificates of Indebtedness, Series 1998B and (iii) Certificates of Indebtedness, Series 1998C;

NOW, THEREFORE, BE IT RESOLVED by the City Council (the "Governing Authority") of the City of Shreveport, State of Louisiana (the "Issuer"), acting as the governing authority thereof, that:

SECTION 1. Preliminary approval is given to the issuance, in one or more series, of not exceeding $700,000, aggregate principal amount of Certificates of Indebtedness of the Issuer (the "Certificates"), to be issued for the purpose of acquiring police and other vehicles and equipment, and paying the costs of issuance thereof, said Certificates to be payable from and secured by a pledge and dedication of the excess of annual revenues of the Issuer above statutory, necessary and usual charges in each of the fiscal years during which the Certificates are outstanding. The Certificates shall bear interest at a rate of -0-% percent per annum, and shall mature over a period not exceeding five (5) years from the date of issuance. The Certificates shall be issued in fully registered form, shall be sold to the Louisiana Public Facilities Authority (pursuant to their zero interest program) at a price of par, plus accrued interest, if any, and shall have such additional terms and provisions as may be determined by this Governing Authority.

SECTION 2. Employment of Bond Counsel. This Governing Authority finds and determines that a real necessity exists for the employment of special bond counsel in connection with the issuance of the Certificates, and accordingly the law firm of Foley & Judell, L.L.P., is hereby employed as special bond counsel to the Issuer to do and perform comprehensive legal and co-ordinate professional work with respect to the issuance, sale and delivery of the Certificates. The fee of special Bond Counsel in connection with the issuance of the Certificates shall not exceed the fees set forth in the Attorney General's Guidelines for the fees of bond counsel for comprehensive legal and coordinate professional work in the issuance of revenue bonds, plus "out-of-pocket" expenses; provided, however, that said fee shall be contingent and payable solely from the proceeds to be derived from the sale of the Certificates. A certified copy of this resolution shall be forwarded to the Attorney General of the State of Louisiana for his approval of the employment herein provided for.

SECTION 3. State Bond Commission. Application is hereby made to the State Bond Commission, Baton Rouge, Louisiana, for approval of the issuance and sale of the Certificates and for consent and authority to proceed with the issuance and sale of the Certificates as provided above, and Bond Counsel is directed to make application to the State Bond Commission in accordance with the foregoing on behalf of the Issuer.

RESOLUTION NO. 38 OF 1999

RESOLUTION STATING THE CITY OF SHREVEPORT'S ENDORSEMENT OF BOOKER T. WASHINGTON

NURSING CENTER TO PARTICIPATE IN THE BENEFITS OF THE LOUISIANA ENTERPRISE ZONE PROGRAM

AND TO OTHERWISE PROVIDE WITH RESPECT THERETO.

WHEREAS, the Louisiana Enterprise Zone Act of 1981, Act 901, was enacted by the 1981 Louisiana State Legislature, Act 337 was enacted by the 1982 Legislature, Act 433 was enacted by the 1987 Legislature, and Act 1024 was enacted by the 1992 Legislature, and

WHEREAS, the Louisiana Enterprise Zone Program offers significant incentives for economic development to some of the most distressed areas in the City of Shreveport, and

WHEREAS, the Louisiana Department of Economic Development designated Census Tract 238.00 Block Group 1 , in the City of Shreveport as "Enterprise Zone" eligible, based on enabling legislation (R.S.51.21.1787-1791), and

WHEREAS, the City of Shreveport states this endorsement is in agreement with the Overall Economic Development Plan for the City of Shreveport, and

WHEREAS, the attached Enterprise Zone map has been marked to show the location of the business being endorsed, and

WHEREAS, in accordance with the Louisiana Enterprise Zone Program requirements the City of Shreveport agrees:

1. To participate in the enterprise zone program

2. To assist the Department in evaluating progress made in any enterprise zone within its jurisdiction

3. To REFUND all applicable local sales taxes on the purchase of the material used in the construction of a building, or any addition or improvement thereon, for housing any legitimate business enterprise, and machinery and equipment used in that enterprise. This tax refund would be on materials, construction and equipment purchased for a project and used by a business permanently on that site.

BE IT RESOLVED by the Shreveport City, in due, regular, and legal session convened that on this 9TH day of March 1999 that BOOKER T. WASHINGTON NURSING CENTER and their project BOOKER T. WASHINGTON NURSING CENTER, State Application # 980510, is endorsed to participate in the Louisiana Enterprise Zone Program.

BE IT FURTHER RESOLVED that all resolutions or parts thereof in conflict herewith are hereby repealed.

Read by title and as read motion by Councilman Serio, seconded by Councilman Huckaby passed by the following vote: Ayes: Councilman Huckaby, Stewart, Carmody, Serio, Spigener, Shyne and Burrell. 7. Nays: None.

RESOLUTION NO. 39 OF 1999

A RESOLUTION TO ADOPT SHREVEPORT'S RIVERVIEW PARK PROJECT, TO AUTHORIZE THE MAYOR TO

SUBMIT SAID PROJECTS TO THE RED RIVER WATER WAY COMMISSION FOR FUNDING AND TO

OTHERWISE PROVIDE WITH RESPECT THERETO.

BY: Councilmen Huckaby & Stewart

Whereas, the City of Shreveport is desirous of providing additional access to the Red River from Shreveport's riverfront and of providing greater recreational opportunities for citizens of Shreveport/Bossier and Northwest Louisiana; and

Whereas, Mayor Keith Hightower and the City of Shreveport have prepared a plan, comprised of a number of projects, to provide greater access and additional recreational activities along the Shreveport Riverfront, said project are attached and referred to as "Shreveport Riverview Park Projects";

Whereas, Shreveport Riverview Park Projects will provide additional access and greater recreational activities for citizens and visitors; and

Whereas, funds and support are needed from the Red River Waterway Commission to make these projects realities.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Shreveport, in due, legal and regular session convened, that the Council supports each of the Shreveport Riverview Projects and adopts each of them and the entire plan, and the Mayor is authorized to submit each project and the entire plan to the Red River Waterway Commission for funding.

BE IT FURTHER RESOLVED, that if any provision or item of this resolution or the application thereof if held invalid, such invalidity shall not affect other provisions, items, or applications of this resolution which can be given effect without the invalid provisions, items or applications and to this end the provisions of this resolution are hereby declared severable.

BE IT FURTHER RESOLVED that all resolutions or parts thereof in conflict herewith are hereby repealed.

Read by title and as read motion by Councilman Huckaby, seconded by Councilman Carmody passed by the following vote: Ayes: Councilman Huckaby, Stewart, Carmody, Serio, Spigener, Shyne and Burrell. 7. Nays: None.

INTRODUCTION OF RESOLUTIONS:

1. Resolution No. 41 of 1999: A resolution authorizing the Mayor to enter into a Lease-Purchase Agreement with Banc One Leasing Corporation to provide financing for the acquisition of police and other vehicles and equipment and otherwise provide with respect thereto.

2. Resolution No. 42 of 1999: A resolution authorizing the submission of an application for a loan under Section 108 of the Housing and Community Development Act of 1974 and to otherwise provide with respect thereto.

3. Resolution No. 43 of 1999: A resolution repealing the Redevelopment Plan approved by Resolution No. 385 of 1970 and otherwise provide with respect thereto.

INTRODUCTION OF ORDINANCES:

1. Ordinance No. 29 of 1999: An ordinance clarifying that certain parcels of property owned by the City of Shreveport and located in the riverfront area in Blocks 68 and 72, Plat of Batture, are not dedicated public alleys, closing and abandoning any such dedication, and otherwise providing with respect thereto.

2. Ordinance No. 30 of 1999 by Councilman Shyne: An ordinance to repeal Ordinance No. 59 of 1995 restricting parking on either side of the 4100 block of Murvon Street from Broadway Avenue to Carl Terrace and to re-enact the provision to prohibit parking on the south side of the 4100 block of Murvon Street and to otherwise provide with respect thereto.

3. Ordinance No. 31 of 1999: An ordinance amending Ordinance No. 98 of 1985 relative to Southwestern Electric Power company franchise agreement and otherwise provide with respect thereto.

4. Ordinance No. 32 of 1999: An ordinance amending the 1999 Riverfront Development Special Revenue Fund budget, appropriating the funds therein, and otherwise providing with respect thereto.

5. Ordinance No. 33 of 1999: An ordinance authorizing the donation of certain property located at 4030 Wallace Street to One Hundred Men of Shreveport, Inc. and to otherwise provide with respect thereto.

6. Ordinance No. 34 of 1999: An ordinance amending the 1999 Capital Improvements Budget and appropriating the funds authorized therein, appropriating the funds therein, and otherwise providing with respect thereto.

Read by title and as read motion by Councilman Shyne, seconded by Councilman Spigener for Introduction of the Resolutions and Ordinances to lay ver until the March 23, 1999 meeting. Motion passed by the following vote: Ayes: Councilman Huckaby, Stewart, Carmody, Serio, Spigener, Shyne and Burrell. 7. Nays: None.

ORDINANCES ON SECOND READING AND FINAL PASSAGE:

1. Ordinance No. 22 of 1999: An ordinance enacting Chapter 2, Article IV., Division 11 of the Code of Ordinances of the City of Shreveport, titled Fire Department Management Analyst and otherwise providing with respect thereto.

Having passed first reading on February 9, 1999, was read by title and as read on motion ordered passed to third reading. Read the third time in full and as read motion by Councilman Shyne, seconded by Councilman Carmody to postpone the ordinance until the March 23, 1999 meeting. Motion approved by the following vote: Ayes: Councilmen Huckaby, Stewart, Carmody, Serio, Spigener, Shyne and Burrell. 7. Nays: None.

2. Ordinance No. 24 of 1999: An ordinance amending Chapter 106 of the Code of Ordinances, the City Zoning Ordinance, by rezoning property located on the south side of Bert Kouns Industrial Loop, 1,115 feet east of Kingston Road, Shreveport, Caddo Parish, Louisiana from B-2, Neighborhood Business District to B-3, Community Business District and to otherwise provide with respect thereto.

Having passed first reading on February 23, 1999, was read by title and as read on motion ordered passed to third reading. Read the third time in full and as read motion by Councilman Serio, seconded by Councilman Huckaby adopted by the following vote: Ayes: Councilmen Huckaby, Stewart, Carmody, Serio, Spigener, Shyne and Burrell. 7. Nays: None.

3. Ordinance No. 25 of 1999: An ordinance amending Chapter 106 of the Code of Ordinances, the City Zoning Ordinance, by rezoning property located on the south side of Midway, 200 feet west of Mansfield Road, Shreveport, Caddo Parish, Louisiana from R-1, Urban, One-Family Residence District to B-3, Community Business District and to otherwise provide with respect thereto.

Having passed first reading on February 23, 1999, was read by title and as read on motion ordered passed to third reading. Read the third time in full and as read motion by Councilman Shyne, seconded by Councilman Carmody adopted by the following vote: Ayes: Councilmen Huckaby, Stewart, Carmody, Serio, Spigener, Shyne and Burrell. 7. Nays: None.

4. Ordinance No. 27 of 1999: An ordinance declaring a public emergency in connection with the West Shreveport Sewer truck main and ratifying the expenditure of approximately $30,000 and otherwise providing with respect thereto.

Having passed first reading on March 9, 1999, was read by title and as read on motion ordered passed to third reading. Read the third time in full and as read motion by Councilman Shyne, seconded by Councilman Spigener adopted by the following vote: Ayes: Councilmen Huckaby, Stewart, Carmody, Serio, Spigener, and Shyne. 6. Nays: None. Did not cast a vote: Councilman Burrell. 1.

The adopted Ordinances follow:

ORDINANCE NO. 24 OF 1999

AN ORDINANCE AMENDING CHAPTER 106 OF THE CODE OF ORDINANCES, THE CITY OF SHREVEPORT

ZONING ORDINANCE, BY REZONING PROPERTY LOCATED ON THE SOUTH SIDE OF BERT KOUNS

INDUSTRIAL LOOP, 1,115 FEET EAST OF KINGSTON ROAD, SHREVEPORT, CADDO PARISH, LOUISIANA,

FROM B-2, NEIGHBORHOOD BUSINESS DISTRICT TO B-3, COMMUNITY BUSINESS DISTRICT, AND TO

OTHERWISE PROVIDE WITH RESPECT THERETO

SECTION I: BE IT ORDAINED by the City Council of the City of Shreveport, Caddo Parish, Louisiana, in due, legal and regular session convened, that the zoning classification of Lot 4, Blom Commercial Subdivision, Unit #3, Shreveport, Caddo Parish, Louisiana, property located on the south side of Bert Kouns Industrial Loop, 1,115 feet east of Kingston Road, be and the same is hereby changed from B-2, Neighborhood Business District to B-3, Community Business District.

SECTION II: THAT the rezoning of the property described herein is subject to compliance with the following stipulations:

1. Development to be in substantial accord with a revised site plan showing a realignment of the fence to provide adequate turn-around area for vehicles to be submitted to and approved by the Planning Director, with any significant changes requiring further review and approval by the Planning Commission.

2. Until such time as the residential property behind this site is developed, the fencing requirement is hereby temporarily waived.

BE IT FURTHER ORDAINED that if any provision or item of this ordinance or the application thereof is held invalid, such invalidity shall not affect other provisions, items, or applications of this ordinance which can be given effect without the invalid provisions, items, or applications and to this end the provisions of this ordinance are hereby declared severable.

BE IT FURTHER ORDAINED that all ordinances or parts thereof in conflict herewith are hereby repealed.

/s/John David Stewart

/s/Arthur G. Thompson, Clerk of Council

ORDINANCE NO. 25 OF 1999

AN ORDINANCE AMENDING CHAPTER 106 OF THE CODE OF ORDINANCES, THE CITY OF SHREVEPORT

ZONING ORDINANCE, BY REZONING PROPERTY LOCATED ON THE SOUTH SIDE OF MIDWAY, 200 FEET

WEST OF MANSFIELD ROAD, SHREVEPORT, CADDO PARISH, LOUISIANA, FROM R-1D, URBAN,

ONE-FAMILY RESIDENCE DISTRICT TO B-3, COMMUNITY BUSINESS DISTRICT, AND TO OTHERWISE

PROVIDE WITH RESPECT THERETO

SECTION I: BE IT ORDAINED by the City Council of the City of Shreveport, Caddo Parish, Louisiana, in due, legal, and regular session convened, that the zoning classification of Lots 10-12, Block A, Werner Park Subdivision, Shreveport, Caddo Parish, Louisiana, property located on the south side of Midway, 200 feet west of Mansfield Road, be and the same is hereby changed from R-1D, Urban, One-Family Residence District to B-3, Community Business District.

SECTION II: THAT the rezoning of the property described herein is subject to compliance with the following stipulations:

1. Development to be in substantial accord with the site plan submitted, with any significant changes or additions requiring further review and approval by the Planning Commission.

2. No outside storage of any kind, including inoperable vehicles, permitted on this site.

BE IT FURTHER ORDAINED that all ordinances or parts thereof in conflict herewith are hereby repealed.

/s/John David Stewart

/s/Arthur G. Thompson, Clerk of Council

ORDINANCE NO. 27 OF 1999

AN ORDINANCE DECLARING A PUBLIC EMERGENCY IN CONNECTION WITH THE WEST SHREVEPORT

SEWER TRUNK MAIN AND RATIFYING THE EXPENDITURE OF APPROXIMATELY $30,000.00 AND TO

OTHERWISE PROVIDE WITH RESPECT THERETO.

WHEREAS, the West Shreveport Sewer Trunk Main which is a 48 inch gravity main located south of Bert Kouns Industrial Loop near the intersection with McGoldrick Drive failed, and

WHEREAS, this failure was due to heavy rains which caused severe erosion along the Industrial Park Lateral (Gilmer Bayou), and

WHEREAS, this 48 inch gravity main had to be repaired immediately to prevent subsequent high water in the bayou from displacing the pipe and causing a significant sewage spill, and

WHEREAS, immediate repairs were necessary to protect the public health and safety, and

WHEREAS, it was essential to correct this problem as quickly as possible to eliminate this emergency.

NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Shreveport in due, legal and regular session convened, that the emergency action of the Department of Water & Sewerage to repair the 48 inch Gravity Main is hereby authorized and ratified and that the expenditure of approximately $30,000.00 for this purpose is hereby authorized.

BE IT FURTHER ORDAINED that monies for this emergency repair shall come from the operating budget of the Department of Water and Sewerage.

BE IT FURTHER ORDAINED that a public emergency is hereby declared and notice of such public emergency shall, within ten days thereof, be published in the official journal of the City of Shreveport proposing or declaring such public emergency in accordance with Section 38:2212(D) of the Louisiana Revised Statutes.

BE IT FURTHER ORDAINED that if any provision or item of this ordinance or application thereof is held invalid, such invalidity shall not affect other provisions, items or applications of this ordinance which can be given effect without the invalid provisions, items or application, and to this end, the provisions of this ordinance are hereby declared severable.

BE IT FURTHER ORDAINED that all ordinances or parts thereof in conflict herewith are hereby repealed.

/s/John David Stewart

/s/Arthur G. Thompson, Clerk of Council

UNFINISHED BUSINESS

These items remained tabled:

1. Ordinance No. 210 of 1998: To repeal Sec. 10-143, relative to sale for consumption prohibited at places where gasoline or motor fuel is sold. (D/Serio) (Tabled on Jan. 11)

2. Ordinance No. 211 of 1998: ZONING: C-64-98, QUERBES LAND CO; N side of E 70th St. between Sand Beach Bayou and Bayou Pierre from R-A to B-2 and B-3, shopping center. (C/Carmody) (Tabled on 11-10-98 and Postponed on Nov. 24)

3. Liquor and Beer Permit: Lo-Mart, 4550 S'port Blanchard Hwy. [Tabled on Jan 11 for 90 days (April 11, 1999)] (A/Huckaby)

NEW BUSINESS

1. BAC-8-99, PHILLIP SCROGGINS, 1548 Madison St., Special Exception Use in a B-3 District, convenience store with packaged beer and wine sales.

Motion by Councilman Huckaby, seconded by Councilman Shyne to uphold the decision of the Zoning Board of Appeals to deny the application. Motion approved by the following vote: Ayes: Huckaby, Stewart, Carmody, Serio, Spigener, Shyne and Burrell. 7. Nays: None.

2. BAC-9-99, PHILLIP SCROGGINS, 1548 Madison St., Special Exception use in a B-3 District, packaged liquor store.

3. BAC-14-99, R. A. REALTY DEVELOPMENT GROUP LLC, 4500 blk. Youree Drive, Special Exception Use in a B-2 & SPI-3 (B-3) District, drug store with a separate liquor store.

Motion by Councilman Carmody, seconded by Councilman Huckaby to overturn the decision of the Zoning Board of Appeals thereby denying the application.

Councilman Carmody: I am going to make a motion to overturn the Zoning Board of Appeals decision in Case BAC-14-99 thereby denying the applicant, Rite-Aid to be allowed to place a liquor store within the SPI-3 District. Again, I want to reiterate this is not to deny Rite-Aid the ability to place their store on this property with a drive-though as requested, this is just for the liquor store. Councilman Serio: If they are not able to move their store across the street, will they still be able to maintain the store where it is? Councilman Carmody: From what I understand, Mr. Serio, they have a four year lease at the present location now. Councilman Serio: So, they will be able to maintain the business as it is if they so desire? Councilman Carmody: Correct.

Motion approved by the following vote: Ayes: Huckaby, Stewart, Carmody, Serio, Spigener, Shyne and Burrell. 7. Nays: None.

REPORTS FROM OFFICERS, BOARDS, AND COMMITTEES: None.

CLERK'S REPORT:

ABO Card appeal: Jodi Cummings

Mr. Thompson: We received a letter from Ms. Jodi Cummings appealing the denial of an ABO card. We got this today. Normally, because these involve a job we try to get them to the Council as quicky as possible. A member of the Council may want to suspend the rules and ask the Council to hear this appeal today.

Motion by Councilman Spigener, seconded by Councilman Huckaby to hear the appeal of Jodi Cummings; motion unanimously approved.

Lieutenant Shoemake: Ms. Cummings was denied an ABO card due to the fact that in April 1998 she was arrested for manufacturing and distribution of Schedule II drugs. She was arrested at that time, she was actually convicted in November 1998. At that time she was given five years hard labor which was suspended and placed on five years supervised probation which ends October 19, 2003. So by ordinance, it will be the 2000 date before she will be eligible for an ABO card.

Ms. Cummings: I want to thank you for letting me speak again. I didn't get to explain last time that about a year ago, this is when this happened, I was with my ex-fiancé and wasn't aware that evening what he was going to do, but I was in the car with him at the Outback Steakhouse in Bossier and we were both arrested for that. I had no idea what was going on that night. I'd never been in trouble before. I just wanted to keep my ABO card. I support two children and am in school and changed a lot of things since that happened. Councilman Spigener: You have a job if you can get your ABO card, is correct? Ms. Cummings: Yes ma'am, at Cheers. Councilman Spigener: And I believe you have a letter from your employer. Ms. Cummings: My employer is here. Councilman Spigener: And he is aware of your past history and he still is wanting to employ you? Ms. Cummings: Yes, ma'am.

Motion by Councilman Spigener to grant a site specific card, seconded by Councilman Burrell. Motion approved by the following vote: Ayes: Councilmen Huckaby, Stewart, Carmody, Serio, Spigener, Shyne and Burrell. 7.

COMMUNICATIONS AND MISCELLANEOUS MATTERS.

The Council resolved itself into Committee of the Whole, on motion by Councilman Burrell, seconded by Councilman Serio. Motion approved by the following vote: Ayes: Councilmen Huckaby, Stewart, Carmody, Spigener, Serio, Shyne and Burrell. 7. Nays: None.

Motion by Councilman Carmody, seconded by Councilman Shyne that the Committee Rises and Report and convene itself as the Council. Motion approved by the following vote: Ayes: Councilmen Huckaby, Stewart, Carmody, Spigener, Serio, Shyne and Burrell. 7. Nays: None.

There being no further business to come before the Council, the Regular Meeting adjourned at 4:00 p.m.

/s/John David Stewart, Chairman

/s/Arthur G. Thompson, clerk of council