Special Board Meeting Minutes

December 22, 2009

President Krueger called the meeting to order at 8:30 a.m. at the Forum with the following members present: Beytien, Davis, Krueger, Loeppke, Mennig (via telephone). Additional officers of the Board present: Godinez, Lucas. Also present: Kevin Kelleher and Tim Oswald, Piper Jaffray.

Moved (Loeppke) and seconded to approve the agenda as submitted. Motion carried 5-0.

Moved (Beytien) and seconded to increase the depository amount at Premier Bank not to exceed $60 million. Motion carried 5-0.

$17,000,000 School Infrastructure Sales, Services and Use Tax Revenue Bond Anticipation Project Note

Moved (Loeppke) and seconded to adopt a Resolution appointing paying agent, note registrar, and transfer gent, approving the paying agent, note registrar and transfer agent agreement and authorizing the execution of same. Upon roll call vote, motion carried 5-0.

Moved ( Davis ) and seconded to adopt a Resolution that the form of Tax Exemption Certificate be placed on file and approved. Upon roll call vote, motion carried 5-0.

Moved ( Davis ) and seconded to adopt a Resolution that the form of Tax Exemption Certificate be placed on file and approved. Upon roll call vote, motion carried 5-0.

Moved ( Davis ) and seconded to adopt a Resolution that the form of Continuing Disclosure Certificate be placed on file and approved. Upon roll call vote, motion carried 5-0.

Moved ( Davis ) and seconded to adopt a Resolution authorizing the issuance of $17,000,000 school infrastructure sales, services and use tax revenue bond anticipation project note. Upon roll call vote, motion carried 5-0.

$8,000,000 School Infrastructure Sales, Services and Use Tax Revenue Refunding Bonds, Series 2009

Moved (Loeppke) and seconded to adopt a Resolution authorizing the redemption of outstanding school infrastructure local option sales and services tax revenue bonds dated October 1, 2004, of the Dubuque Community School District, State of Iowa, and directing notice be given. Upon roll call vote, motion carried 5-0.

Moved (Loeppke) and seconded to adopt a Resolution that the form of Tax Exemption Certificate be placed on file and approved. Upon roll call vote, motion carried 5-0.

Moved (Loeppke) and seconded to adopt a Resolution that the form of Continuing Disclosure Certificate be placed on file and approved. Upon roll call vote, motion carried 5-0.

Moved (Loeppke) and seconded to adopt a Resolution authorizing and providing for the terms of issuance and securing the payment of $8,000,000 school infrastructure sales, services and use tax revenue refunding bonds of the Dubuque Community School District, State of Iowa, under the provisions of Chapters 423E and 423F of the Code of Iowa, and providing for a method of payment of said bonds. Upon roll call vote, motion carried 5-0.

President Krueger declared the meeting adjourned at 8:47 p.m.

Joni Lucas, Secretary

Board of Education