STATE OF TENNESSEE

COUNTY OF ROBERTSON

TERM APRIL 21, 2014 REGULAR SESSION

Be it remembered that the Board of Commissioners of Robertson County, Tennessee metin open public session at the Robertson County Juvenile Courtroom in Springfield,Tennessee on the 21st day of April 2014 at 7:00 PM.

The meeting was opened with music from the Ridgetop Ramblers Bluegrass Band.Commissioner Stubblefield told of the Kilgore Station Bluegrass Festival held in thegreat community of Cross Plains. Special events 'will happen in downtown Cross Plainsstarting April 25th -26th. Commissioner Stubblefield encouraged all to attend.

County Mayor, Howard R. Bradley, called the meeting to order. County Clerk, Susan K.Atchley was present also.

The invocation was given by Pastor Daniel Dennis, Oakland Baptist Church. The pledgeto the t1ag followed.

A roll call was taken and the following County Commissioners were present to-wit:Adcock, Baggett, Bowens, Brown, Bryant, Corbin, Couts, Dorris, Farmer, Garner,Gregory, Haley, Jackson, Jones, Moore, Spears, Stubblefield, Yogle and Wilson.Commissioners DiOrio, Dugger, Eden, Gray and Ray were absent.

MINUTES OF PREVIOUS MEETING

On motion by Commissioner Baggett and second by Commissioner Jackson, the minutesof the previous meeting were approved treated same as read, made a matter of record, andfiled. The motion was approved by voice vote.

COMMUNICATIONS FROM COUNTY MAYOR

Mayor Bradley told of the Robertson County Reads pancake breakfast on May 3, 2014from 7-9 am at Applebee's in Springfield. Tickets are on sale through out the county.Mayor Bradley also told that Bomer currently had the low bid of $3,631,000 for thelibrary renovations.

REPORTS

The following reports were received, filed and approved by voice vote on motion byCommissioner Jones and second by Commissioner Gregory: Animal, Highway, Trustee,Veteran Service, Solid Waste, Library, Inmate Expense, Fire Service, EmergencyManagement Agency, EMS, Financial, Planning and Zoning,

ELECTIONS AND APPOINTMENTS

The Nominating Committee met on March 24, 2014 and approved the followingnominations. Commissioner Voglc made motion to approve and second byCommissioner Baggett. Motion approved by voice vote.

Beverage Committee

Sammy Bryant replaces Buddy Bryant

Building & Grounds

Warren Corbin replaces Buddy Bryant

Stacy Moore replaces Bill Gray

Finance Management

Sammy Bryant replaces Buddy Bryant

Law Enforcement

Warren Corbin replaces Bill Gray

Finance Audit

Stacy Moore replaces Buddy Bryant

Solid Waste

Sammy Bryant replaces Buddy Bryant

Handicap Advisory

Stacy Moore replaces Bill Gray

Warren Corbin (vacant spot)

Construction

Bobby Couts replaces Buddy Bryant

Fire

Stacy Moore replaces Billy Vogle

REZONING RESOLUTIONS PUBLIC HEARING

REZONING RESOLUTIONS

There were no rezoning resolutions at this meeting.

NEW RESOLUTIONS

SURPLUS PROPERTY (Animal Control)

Resolution number 042114032 a resolution to declare surplus property for AnimalControl was presented. Commissioner Garner made motion to approve and second byCommissioner Jackson. Motion was approved by roll call vote. (Resolution and RollCall included)

SURPLUS PROPERTY (School Board)

Resolution number 042114033 a resolution to declare surplus property for the RobertsonCounty School Board was presented. Commissioner Garner made motion to approve andsecond by Commissioner Farmer. Motion was approved by roll call vote. (Resolutionand Roll Call included)

2

SHERIFF'S DISCIPLINARY REVIEW BOARD

Resolution number 042114034 a resolution to establish a Sheriff's departmentdisciplinary review board was presented. Commissioner Couts made motion to approveand second by Commissioner Baggett. Motion was approved by roll call vote.(Resolution and Roll Call included)

SCHOOL BOND ($24,000,000)

Resolution number 042114035 a resolution authorizing the issuanee of general obligationschool bonds in the aggregate principle amount of not to exceed twenty-four milliondollars ($24,000,000) of Robertson County, Tennessee; making provision for theissuance, sale and payment of said bonds; establishing the terms thereof and thedisposition of proceeds therefrom; and providing for the levy of taxes for the payment ofprinciple of, premium, if any, and interest on the bonds was presented. CommissionerAdcock made motion to approve and second by Commissioner Garner. CommissionerJones made motion to make Ashley McAnulty, Vice President Public Finance, StephensInc., a member of the Commission and second by Commissioner Bowens. Motionapproved by voice vote. Commissioner Haley made motion to make Mike Davis,Direetor of Schools, a member of the Commission and second by Commissioner Garner.Motion approved by voice vote. McAnulty gave a brief summary of the financing of thebonds and answered questions from Commissioners. Davis told of the hard and soft bidsfor the Crestview and Watauga Schools. He answered numerous questions fromCommissioners. After much debate the motion to approve school bonds in the amount of($24,000,000) was approved by roll call vote. (Resolution and Roll Call included)

OLD BUSINESS

There was not any old business at this meeting,

NEW BUSINESS

WASTE AND LITTER REMOVAL

Resolution number 042114036 a resolution authorizing execution and/or acceptance of acontract of grant between the State of Tennessee Department of Transportation andRobertson County, Tennessee for waste and litter removal was presented. CommissionerJones made motion to approve and second by Commissioner Couts. Motion wasapproved by roll call vote. (Resolution and Roll Call included)

A motion was made by Commissioner Adcock to fund the Black Fly treatment for the RedRiver Drainage System located in Robertson County, Tennessee and second CommissionerGarner. Motion failed by roll call vote. (Roll Call included)

3

ELECTION OF NOTARIES

The following were elected to the office of Notary Public on motion of CommissionerJones and second by Commissioner Jackson: Jennifer Leigh Eidson, Jennifer Gregory,Kristy E. Holmes, Cheryl Iaquinta, Marquita D. Pettus, Carol Aiko Ovenshire, Earl J.Porter, Jr., Linda Royer, Angela Gail Vance, Matthew White and Nicole 1. Wilkerson.

There being no further business, the meeting adjourned on motion by CommissionerDorris and second by Commissioner Vogle. Motion approved by voice vote.

Howard R. Bradley, County Mayor

4

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Date and Time ofNew Session: 4 212014707 11 PM

Beginning Roll Call for New Session:Chair Bradley isAdcock isBaggett isBowens isBrown isBryant isCorbin isCouts isDiOrio isDorris isDugger isEden isFarmer isGarner isGray isGregory isHaley isJackson isJones isMoore isRay isSpears isStubblefield isVogle isWilson is

presentpresentpresentpresentpresentpresentpresentpresent

present

presentpresent

presentpresentpresentpresentpresent

presentpresentpresentpresent

Absent

AbsentAbsent

Absent

Absent

Number or Voters PRESENT for Roll Call: 20Number or Voters ABSENT for Roll Call: 5

042114032RESOLUTION NO. _

RESOLUTION TO DECLARE SURPLUS PROPERTY

WHEREAS, Robertson County, Tennessee, is the owner of certain vehicles

listed on the Attached Exhibit "A"; and

WHEREAS, these vehicles have been used by the Robertson County Animal

Control Department, are no longer serviceable, and it is requested that the

Robertson County Commission declare this property surplus as provided by

Tennessee Code Annotated, and authorize the sale of said vehicles.

NOW, THEREFORE, BE IT RESOLVED by the Robertson County Commission,

meeting in regular session this 21st day of April, 2014 that the vehicles above

described, prevlously used by the Robertson County Animal Control Department, be

declared to be surplus property, and the County Mayor is hereby directed to

execute a Bill of Sale or such other documents of transfer of title for said vehicles.

Passed this the 21st day of April 2014, to be effective on the date of its

passage, the public welfare requiring it.

/J.-./

ATTEST:

-;¥--</(~ ~COUNTY MAYOR

OLt\ _

SUSAN K. ATCHLEYCounty Clerk

-< ro OJ ., 3: o 0­ ro

m X ::r: ..... OJ C:J ;r; •

Garner Requested a Motion at: 7_12_06 PMJackson Seconded the Motion at: 7 12 06 PM

RESOLUTION 042114032 RESOLUTION TO DECLARE SURPLUSPROPERTY (ANIMAL CONTROL)

Time of Vote: 7 12 36 PMType of Vote is Custom: 13 YEA Votes Needed to PassNote: Abstain Votes are NOT counted.

Chair Bradley does not voteAdcock voted: YBaggett voted: YBowens voted: YBrown voted: YBryant voted: YCorbin voted: YCouts voted: YDiOrio was AbsentDorris voted: YDugger was AbsentEden was AbsentFarmer voted: YGarner voted: YGray was AbsentGregory voted: YHaley voted: YJackson voted: YJones voted: YMoore voted: YRay was AbsentSpears voted: YStubblefield voted: YVogIc voted: YWilson voted: Y

Passed (19 Y - 0 N - 5 Absent)

RESOLUTION NO. 042114033

RESOLUTION TO DECLARE SURPLUS PROPERTY

WHEREAS, Robertson County, Tennessee, through its Board of Education is the owner of

certain equipment identified on Exhibit "A"; and

WHEREAS, this equipment is no longer used by the Robertson County Board ofEducation,

and the School Board has previously approved this equipment to be declared as surplus; and

It is requested that the Robertson County Commission declare this property surplus as

provided by Tennessee Code Annotated and authorize the sale of said equipment; and

NOW, THEREFORE, BE IT RESOLVED by the Robertson County Commission, meeting in

regular session this the 2151 day ofApril, 2014, that the equipment above described, previously used

by the Robertson County Board of Education, is declared to be surplus property, and the County

Mayor and/or the Director of Schools is hereby authorized to execute such documents of transfer of

title for said equipment as they deem appropriate.

Passed this the 21" day of April, 2014, to be effective on the date of its passage, the

public welfare requiring it.

~~~COUNTY MAYOR 7

SUSAN K. ATCHLEYCounty Clerk

Funding ID

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Garner Requested a Motion at: 7_13_02 PMFarmer Seconded the Motion at: 7 13 02 PM

RESOLUTION 042114033 RESOLUTION TO DECLARE SURPLUSPROPERTY (ROBERTSON COUNTY BOARD OF EDUCATION)

Time of Vote: 7_13__23 PMType of Vote is Custom: 13 YEA Votes Needed to PassNote: Abstain Votes are NOT counted.

Chair Bradley does not voteAdcock voted: YBaggett voted: y

Bowens voted: y

Brown voted: YBryant voted: yCorbin voted: y

Couts voted: y

DiOrio was AbsentDorris voted: YDugger was AbsentEden was AbsentFarmer voted: YGarner voted: y

Gray was AbsentGregory voted: y

Haley voted: yJackson voted: y

Jones voted: YMoore voted: yRay was AbsentSpears voted: y

Stubblefield voted: y

Vogle voted: yWilson voted: y

Passed (19 Y - 0 N - 5 Absent)

042114034RESOLUTION NO. _

RESOLUTION TO ESTABLISH SHERIFF'S DEPARTMENT DISCIPLINARYREVIEW BOARD

WHEREAS, Tennessee Code Annotated Section 41-2-111 provides that a Disciplinary

Review Board should be established for the Roberson County Detention Facility to be composed

of 6 members, appointed by the Sheriff and subject to approval by the Robertson County

Commission; and

WHEREAS, the duties of that Board shall be as set forth by Tennessee law including but

not limited to the revocation of any prisoner good time credit for bad behavior while in the jail,

this Board has previously been established by Resolution No. 041811040, and it is the purpose of

this Resolution to replace certain members of the Board such that the new Board is comprised of

those persons named herein;

NOW, THEREFORE, BE IT RESOLVED by the Robertson County Commission,

meeting in regular session this the 21st day of April, 2014, as follows:

I. The Robertson County Commission hereby affirms and approves those persons

suggested by the Robertson County Sheriff to constitute said Board being named as follows:

Tammy ParksKenneth Drake

Linda RoyerSam Keith

Matthew WhiteJerryln Jones

Passed this the 21st day of April, 2014, to be effective on the date of its passage, the

~-----<a:4-~COUNTY MAYOR 7

AT~EST:

cV-W)(h-~.. t\\J\\v{SUSAN K. ATCHLEY, County Clerk '\

Couts Requested a Motion at: 7_13_53 PMBaggett Seconded the Motion at: 7_13_53 PM

RESOLUTION 042114034 RESOLUTION TO ESTABLISH SHERIFF'SDEPARTMENT DISCIPLINARY REVIEW BOARD

Time of Vote: 7 14 40 PMType of Vote is Custom: 13 YEA Votes Needed to PassNote: Abstain Votes are NOT counted.

Chair Bradley does not voteAdcock voted: YBaggett voted: YBowens voted: YBrown voted: YBryant voted: YCorbin voted: YCouts voted: YDiOrio was AbsentDorris voted: YDugger was AbsentEden was AbsentFarmer voted: YGarner voted: YGray was AbsentGregory voted: YHaley voted: YJackson voted: YJones voted: YMoore voted: YRay was AbsentSpears voted: YStubblefield voted: YVogle voted: YWilson voted: Y

Passed (19 Y - 0 N - 5 Absent)

RESOLUTION NO. 042114035

A RESOLUTION AUTHORIZING THE ISSUANCE OF GENERALOBLIGATION SCHOOL BONDS IN THE AGGREGATE PRINCIPALAMOUNT OF NOT TO EXCEED TWENTY-l'-OUR MILLION DOLLARS($24,000,000) OF ROBERTSON COUNTY, TENNESSEE; MAKINGPROVISION FOR THE ISSUANCE, SALE AND PAYMENT OF SAIDBONDS; ESTABLISHING THE TERMS THEREOF AND THEDISPOSITION OF PROCEEDS THEREFROM; AND PROVIDING FORTHE LEVY OF TAXES FOR THE PAYMENT OF PRINCIPAL OF,PREMIUM, IF ANY, AND INTEREST ON THE BONDS.

WHEREAS, pursuant to Sections 49-3-1001, et seq., inclusive, Tennessee CodeAnnotated, as amended, counties in Tennessee are authorized through their respective governingbodies to issue and sell bonds of said counties to finance school projects; and

WHEREAS, the Board of County Commissioners of Robertson County, Tennessee (the"County") hereby determines that it is neeessary and advisable to issue not to exceed$24,000,000 in aggregate principal amount of general obligation school bonds, to be issued inone or more emissions, for the purpose of providing funds to (a) acquire land and develop sitesfor school purposes; eonstruct, repair, renovate and equip County school buildings and schoolfaeilities; aequire all property, real and personal, appurtenant to the foregoing; pay legal, fiscal,administrative, architectural and engineering costs incident to the foregoing; reimburse theappropriate fund of the County for prior expenditures for the foregoing costs, if applicable(collectively, the "Projeets"); and retire any outstanding notes authorized and issued, proeeeds ofwhieh were used for any of the foregoing purposes and (b) pay costs ineident to the issuance andsale of bonds authorized herein; and

WHEREAS, it is the intention of the Board of County Commissioners to adopt thisresolution for the purpose of (i) authorizing not to exceed $24,000,000 in aggregate prineipalamount of said bonds to finance the Projects and capitalized interest, if any, to reimburse theCounty for prior expenditures for the Projects, if applicable, and the pay costs of issuance of thebonds, (ii) providing for the issuance, sale and payment of said bonds, (iii) establishing the termsthereof, and the disposition of proeeeds therefrom, and (iv) providing for the levy of a tax for thepayment ofprineipal thereof, premium, ifany, and interest thereon to the extent required by law.

NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners ofRobertson County, Tennessee, as follows:

Section 1.Sections 49-3-1001,provisions of law.

-;1<1818-1719-3497 \'.1-

Authority. The bonds authorized by this resolution are issued pursuant toet seq., Tennessee Code Annotated, as amended, and other applicable

I

Section 2. Definitions. The following terms shall have the following meanings in

this resolution unless the text expressly or by necessary implication requires otherwise:

(a) "Bonds" means the not to exceed $24,000,000 General Obligation School Bondsof the County, to be dated their date of issuance, and having such series designation or such otherdated date as shall be determined by the County Mayor pursuant to Section 7 hereof;

(b) "Book-Entry Form" or "Book-Entry System" means a form or system, asapplicable, under which physical bond certificates in fully registered form are issued to aDepository, or to its nominee as Registered Owner, with the certificate of bonds being held byand "immobilized" in the custody of such Depository, and under which records maintained bypersons, other than the County or the Registration Agent, constitute the written record thatidentifies, and records the transfer of, the beneficial "book-entry" interests in those bonds;

(c) "County" means Robertson County, Tennessee;

(d) "County Clerk" means the duly elected and qualified and acting County Clerk ofthe County and all successors to such position;

(e) "County Finance Director" means the duly appointed and qualified and actingFinance Director of the County and all successors to such position;

(1) "County Mayor" means the duly elected and qualified and acting County Mayorof the County and all successors to such position;

(g) "Depository" means any securities depository that is a clearing agency underfederal laws operating and maintaining, with its participants or otherwise, a Book-Entry System,including, but not limited to, DTC;

(h) "DTC" means the Depository Trust Company, a limited purpose companyorganized under the laws of the State of New York, and its successors and assigns;

(i) "DTC Participant(s)" means securities brokers and dealers, banks, trustcompanies and clearing corporations that have access to the DTC System;

Cj) "Financial Advisor" means Stephens, !nc.;

(k) "Governing Body" means the Board of County Commissioners of the County;

(1) "Notice of Sale" means the notice of sale published or posted in connection withthe sale of the Bonds;

(m) "Projects" means the acquisition of land and development of sites for schoolpurposes; construction, repairs, renovation and equipping of County schoo! buildings and schoo!facilities; acquisition of all property, real and personal, appurtenant to the foregoing; payment oflegal, fiscal, administrative, architectural and engineering costs incident to the foregoing; and

2

ii4SIfl-1719·Jt197 v 1--

reimbursement of the appropriate fund of the County for prior expenditures for the foregoingcosts, if applicable;

(n) "Registration Agent" means the registration and paying agent appointed by theCounty Mayor or by the Governing Body pursuant to Section 3 hereof, or any successordesignated by the Governing Body.

Section 3. Authorization and Terms of the Bonds.

(a) For the purpose of providing funds to finance, in whole, or in part, (i) the cost ofthe Projects and costs incident thereto; (ii) payment of capitalized interest, if any, during theperiod of construction of the Projects and for a period of up to six months thereafter; (iii)reimbursement to the appropriate fund of the County for prior expenditures for the foregoingcosts, if applicable; and (iv) payment of costs incident to the issuance and sale of the Bonds,there is hereby authorized to be issued bonds of the County in the aggregate principal amount ofnot to exceed $24,000,000. The Bonds shall be issued in one or more emissions, in fullyregistered, book-entry form (except as otherwise set forth herein), without coupons, and subjectto the adjustments permitted under Section 7, shall be known as "General Obligation SchoolBonds", shall be dated their date of issuance, and shall have such series designation or such otherdated date as shall be determined pursuant to Section 7 hereof. The Bonds shall bear interest at arate or rates not to exceed the maximum rate permitted by applicable Tennessee law at the timeof issuance of the Bonds, or any emission thereof, payable (subject to the adjustments permittedunder Section 7) semi-annually on May I and November I in each year, commencing NovemberI, 2014. The Bonds shall be issued initially in $5,000 denominations or integral multiplesthereof, as shall be requested by the original purchaser thereof, mature serially or be subject tomandatory redemption and shall be payable on May 1 of each year, subject to prior optionalredemption as hereafter provided, either serially or through mandatory redemption, in the years2016 through 2034, inclusive, with a weighted average maturity not to exceed thirty years.

Subject to the adjustments permitted under Section 7 hereof, Bonds maturing on or beforeMay 1,2024 shall mature without option of redemption and Bonds maturing on May 1, 2025 andthereafter, shall be subject to redemption prior to maturity at the option of the County on May 1,2024 and thereafter, as a whole or in part at any time at the redemption price of par plus accruedinterest to the redemption date.

If less than all the Bonds shall be called for redemption, the maturities to be redeemedshall be selected by the Governing Body in its discretion. If less than all of the Bonds within asingle maturity shall be called for redemption, the interests within the maturity to be redeemedshall be selected as follows:

(i) if the Bonds are being held under a Book-Entry System by DTC, or asuccessor Depository, the Bonds to be redeemed shall be determined by DTC, or suchsuccessor Depository, by lot or such other manner as DTC, or such successor Depository,shall determine; or

3

--1J4818-171'J-3497 v. I

(ii) if the Bonds are not being held under a Book-Entry System by DTC, or asuccessor Depository, the Bonds within the maturity to be redeemed shall be selected bythe Registration Agent by lot or such other random manner as the Registration Agent inits discretion shall determine.

(b) Pursuant to Section 7 hereof, the Bonds, or any maturities thereof, may be sold asterm bonds ("Term Bonds") with mandatory redemption requirements corresponding to thematurities set forth herein or as determined in accordance with Section 7 hereof. In the event anyor all the Bonds are sold as Term Bonds, the County shall redeem Term Bonds on redemptiondates corresponding to the maturity dates set forth herein, in aggregate principal amounts equalto the maturity amounts established pursuant to Section 7 hereof for each redemption date, assuch maturity amounts may be adjusted pursuant to Section 7 hereof, at a price of par plusaccrued interest thereon to the date of redemption. The Term Bonds to be redeemed within asingle maturity shall be selected in the manner described in subsection (a) above.

At its option, to be exercised on or before the forty-fifth (45th) day next preceding anysuch mandatory redemption date, the County may (i) deliver to the Registration Agent forcancellation Bonds to be redeemed, in any aggregate principal amount desired, and/or (ii) receivea credit in respect of its redemption obligation under this mandatory redemption provision forany Bonds of the maturity to be redeemed which prior to said date have been purchased orredeemed (otherwise than through the operation of this mandatory sinking fund redemptionprovision) and canceled by the Registration Agent and not theretofore applied as a credit againstany redemption obligation under this mandatory sinking fund provision. Each Bond so deliveredor previously purchased or redeemed shall be credited by the Registration Agent at 100% of theprincipal amount thereof on the obligation of the County on such payment date and any excessshall be credited on future redemption obligations in chronological order, and the principalamount of Bonds to be redeemed by operation of this mandatory sinking fund provision shall beaccordingly reduced. The County shall on or before the forty-fifth (45th) day next precedingeach payment date furnish the Registration Agent with its certificate indicating whether or notand to what extent the provisions of clauses (i) and (ii) of this subsection are to be availed ofwith respect to such payment and confirm that funds for the balance of the next succeedingprescribed payment will be paid on or before the next succeeding payment date.

(c) Notice of call for redemption, whether optional or mandatory, shall be given bythe Registration Agent on behalf of the County not less than thirty (30) nor more than sixty (60)days prior to the date fixed for redemption by sending an appropriate notice to the registeredowners of the Bonds to be redeemed by first-class mail, postage prepaid, at the addresses shownon the Bond registration records of the Registration Agent as of the date of the notice; but neitherfailure to mail such notice nor any defect in any such notice so mailed shall affect the sufficiencyof the proceedings for redemption of any of the Bonds for which proper notice was given. Aslong as DTC, or a successor Depository, is the registered owner of the Bonds, all redemptionnotices shall be mailed by the Registration Agent to DTC, or such successor Depository, as theregistered owner of the Bonds, as and when above provided, and neither the County nor theRegistration Agent shall be responsible for mailing notices of redemption to DTC Participants orBeneficial Owners. Failure of DTC, or any successor Depository, to provide notice to any DTC

4

, 114818-1719-:14'17 v 1-

Participant or Beneficial Owner will not affect the validity of such redemption. The RegistrationAgent shall mail said notices as and when directed by the County pursuant to written instructionsfrom an authorized representative of the County (other than for a mandatory sinking fundredemption, notices of which shall be given on the dates provided herein) given at least forty-five(45) days prior to the redemption date (unless a shorter notice period shall be satisfactory to theRegistration Agent). From and after the redemption date, all Bonds called for redemption shallcease to bear interest if funds are available at the office of the Registration Agent for thepayment thereof and if notice has been duly provided as set forth herein.

(d) The Governing Body hereby authorizes and directs the County Mayor to appointthe Registration Agent for the Bonds or the Governing Body by subsequent action may appointthe Registration Agent, and hereby authorizes the Registration Agent so appointed to maintainBond registration records with respect to the Bonds, to authenticate and deliver the Bonds asprovided herein, either at original issuance or upon transfer, to effect transfers of the Bonds, togive all notices of redemption as required herein, to make all payments of principal and interestwith respect to the Bonds as provided herein, to cancel and destroy Bonds which have been paidat maturity or upon earlier redemption or submitted for exchange or transfer, to furnish theCounty at least annually a certificate of destruction with respect to Bonds canceled anddestroyed, and to furnish the County at least annually an audit confirmation of Bonds paid,Bonds outstanding and payments made with respect to interest on the Bonds. The County Mayoris hereby authorized to execute and the County Clerk is hereby authorized to attest such writtenagreement between the County and the Registration Agent as they shall deem necessary andproper with respect to the obligations, duties and rights of the Registration Agent. The paymentof all reasonable fees and expenses of the Registration Agent for the discharge of its duties andobligations hereunder or under any such agreement is hereby authorized and directed.

(e) The Bonds shall be payable, both principal and interest, in lawful money of theUnited States of America at the main office of the Registration Agent. The Registration Agentshall make all interest payments with respect to the Bonds by check or draft on each interestpayment date directly to the registered owners as shown on the Bond registration recordsmaintained by the Registration Agent as of the close of business on the fifteenth day of themonth next preceding the interest payment date (the "Regular Record Date") by depositing saidpayment in the United States mail, postage prepaid, addressed to such owners at their addressesshown on said Bond registration records, without, except for final payment, the presentation orsurrender of such registered Bonds, and all such payments shall discharge the obligations of theCounty in respect of such Bonds to the extent of the payments so made. Payment of principal ofand premium, if any, on the Bonds shall be made upon presentation and surrender of such Bondsto the Registration Agent as the same shall become due and payable. All rates of interestspecified herein shall be computed on the basis of a three hundred sixty (360) day year composedof twelve (12) months of thirty (30) days each. In the event the Bonds are no longer registered inthe name of DTC, or a suecessor Depository, if requested by the Owner of at least $100,000 inaggregate principal amount of the Bonds, payment of interest on such Bonds shall be paid bywire transfer to a bank within the eontinental United States or deposited to a designated aecountif such account is maintained with the Registration Agent and written notice of any such electionand designated account is given to the Registration Agent prior to the record date.

5

iJij818-1719-:W>7 v.!.

(f) Any interest on any Bond that is payable but is not punctually paid or dulyprovided for on any interest payment date (hereafter "Defaulted Interest") shall forthwith ceaseto be payable to the registered owner on the relevant Regular Record Date; and, in lieu thereof,such Defaulted Interest shall be paid by the County to the persons in whose names the Bonds areregistered at the close of business on a date (the "Special Record Date") for the payment of suchDefaulted Interest, which shall be fixed in the following manner: the County shall notify theRegistration Agent in writing of the amount of Defaulted Interest proposed to be paid on eachBond and the date of the proposed payment, and at the same time the County shall deposit withthe Registration Agent an amount of money equal to the aggregate amount proposed to be paid inrespect of such Defaulted Interest or shall make arrangements satisfactory to the RegistrationAgent for such deposit prior to the date of the proposed payment, such money when deposited tobe held in trust for the benefit of the persons entitled to such Defaulted Interest as in this Sectionprovided. Thereupon, not less than ten (10) days after the receipt by the Registration Agent ofthe notice of the proposed payment, the Registration Agent shall fix a Special Record Date forthe payment of such Defaulted Interest which Date shall be not more than fifteen (15) nor lessthan ten (10) days prior to the date of the proposed payment to the registered owners. TheRegistration Agent shall promptly notify the County of such Special Record Date and, in thename and at the expense of the County, not less than ten (l0) days prior to such Special RecordDate, shall cause notice of the proposed payment of such Defaulted Interest and the SpecialRecord Date therefor to be mailed, first class postage prepaid, to each registered owner at theaddress thereof as it appears in the Bond registration records maintained by the RegistrationAgent as of the date of such notice. Nothing contained in this Section or in the Bonds shallimpair any statutory or other rights in law or in equity of any registered owner arising as a resultof the failure of the County to punctually payor duly provide for the payment of principal of,premium, if any, and interest on the Bonds when due.

(g) The Bonds are transferable only by presentation to the Registration Agent by theregistered owner, or his legal representative duly authorized in writing, of the registered Bond(s)to be transferred with the form of assignment on the reverse side thereof completed in full andsigned with the name of the registered owner as it appears upon the face of the Bond(s)accompanied by appropriate documentation necessary to prove the legal capacity of any legalrepresentative of the registered owner. Upon receipt of the Bond(s) in such form and with suchdocumentation, if any, the Registration Agent shall issue a new Bond or the Bond to theassignee(s) in $5,000 denominations, or integral multiples thereof, as requested by the registeredowner requesting transfer. The Registration Agent shall not be required to transfer or exchangeany Bond during the period commencing on a Regular or Special Record Date and ending on thecorresponding interest payment date of such Bond, nor to transfer or exchange any Bond afterthe publication of notice calling such Bond for redemption has been made, nor to transfer orexchange any Bond during the period following the receipt of instructions from the County tocall such Bond for redemption; provided, the Registration Agent, at its option, may maketransfers after any of said dates. No charge shall be made to any registered owner for theprivilege of transferring any Bond, provided that any transfer tax relating to such transactionshall be paid by the registered owner requesting transfer. The person in whose name any Bondshall be registered shall be deemed and regarded as the absolute owner thereof for all purposesand neither the County nor the Registration Agent shall be affected by any notice to the contrary

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-ii481 S-1719-3497 v.l-

whether or not any payments due on the Bonds shall be overdue. The Bonds, upon surrender tothe Registration Agent, may, at the option of the registered owner, be exchanged for an equalaggregate principal amount of the Bonds of the same maturity in any authorized denomination ordenominations.

(h) The Bonds shall be executed in such manner as may be prescribed by applicablelaw, in the name, and on behalf, of the County with the manual or facsimile signature of theCounty Mayor and with the official seal, or a facsimile thereof of the County impressed orimprinted thereon and attested by the manual or facsimile signature of the County Clerk or herdesignee.

(i) Except as otherwise provided in this resolution, the Bonds shall be registered inthe name of Cede & Co., as nominee of DTC, which will act as securities depository for theBonds. References in this Section to a Bond or the Bonds shall be construed to mean the Bondor the Bonds that are held under the Book-Entry System. One Bond for each maturity shall beissued to DTC and immobilized in its custody. A Book-Entry System shall be employed,evidencing ownership of the Bonds in authorized denominations, with transfers of beneficialownership effected on the records of DTC and the DTC Participants pursuant to rules andprocedures established by DTC.

Each DTC Participant shall be credited in the records of DTC with the amount of suchDTC Participant's interest in the Bonds. Beneficial ownership interests in the Bonds may bepurchased by or through DTC Participants. The holders of these beneficial ownership interestsare hereafter referred to as the "Beneficial Owners." The Beneficial Owners shall not receive theBonds representing their beneficial ownership interests. The ownership interests of eachBeneficial Owner shall be recorded through the records of the DTC Participant from which suchBeneficial Owner purchased its Bonds. Transfers of ownership interests in the Bonds shall beaccomplished by book entries made by DTC and, in turn, by DTC Participants acting on behalfof Beneficial Owners. SO LONG AS CEDE & CO., AS NOMINEE FOR DTC, IS THEREGISTERED OWNER OF THE BONDS, THE REGISTRATION AGENT SHALL TREATCEDE & CO., AS THE ONLY HOLDER OF THE BONDS FOR ALL PURPOSES UNDERTHIS RESOLUTION, INCLUDING RECEIPT OF ALL PRINCIPAL OF, PREMIUM, IFANY, AND INTEREST ON THE BONDS, RECEIPT OF NOTICES, VOTING ANDREQUESTING OR DIRECTING THE REGISTRATION AGENT TO TAKE OR NOT TOTAKE, OR CONSENTING TO, CERTAIN ACTIONS UNDER THIS RESOLUTION.

Payments of principal, interest, and redemption premium, if any, with respect to theBonds, so long as DTC is the only owner of the Bonds, shall be paid by the Registration Agentdirectly to DTC or its nominee, Cede & Co. as provided in the Letter of Representation relatingto the Bonds from the County and the Registration Agent to DTC. DTC shall remit suchpayments to DTC Participants, and such payments thereafter shall be paid by DTC Participantsto the Beneficial Owners. The County and the Registration Agent shall not be responsible orliable for payment by DTC or DTC Participants, for sending transaction statements or formaintaining, supervising or reviewing records maintained by DTC or DTC Participants.

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~#4818-1719-J497 v 1--

In the event that (I) DTC determines not to continue to act 'as securities depository for theBonds, or (2) the County determines that the continuation of the Book-Entry System of evidenceand transfer of ownership of the Bonds would adversely affect their interests or the interests ofthe Beneficial Owners of the Bonds, then the County shall discontinue the Book-Entry Systemwith DTC or, upon request of such original purchaser, deliver the Bonds to the original purchaserin the form of fully registered Bonds, as the case may be. If the County fails to identify anotherqualified securities depository to replace DTC, the County shall cause the Registration Agent toauthenticate and deliver replacement Bonds in the form of fully registered Bonds to eachBeneficial Owner. If the purchaser(s) certifies that it intends to hold the Bonds for its ownaccount, then the County may issue certificated Bonds without the utilization of DTC and theBook-Entry System.

THE COUNTY AND THE REGISTRATION AGENT SHALL NOT HAVE ANYRESPONSIBILITY OR OBLIGATIONS TO ANY DTC PARTICIPANT OR ANYBENEFICIAL OWNER WITH RESPECT TO (i) THE BONDS; (ii) THE ACCURACY OFANY RECORDS MAINTAINED BY DTC OR ANY DTC PARTICIPANT; (iii) THEPAYMENT BY DTC OR ANY DTC PARTICIPANT OF ANY AMOUNT DUE TO ANYBENEFICIAL OWNER IN RESPECT OF THE PRINCIPAL OF AND INTEREST ON THEBONDS; (iv) THE DELIVERY OR TIMELINESS OF DELIVERY BY DTC OR ANY DTCPARTICIPANT OF ANY NOTICE DUE TO ANY BENEFICIAL OWNER THAT ISREQUIRED OR PERMITTED UNDER THE TERMS OF TI·lIS RESOLUTION TO BEGIVEN TO BENEFICIAL OWNERS; (v) THE SELECTION OF BENEFICIAL OWNERS TORECEIVE PAYMENTS IN THE EVENT OF ANY PARTIAL REDEMPTION OF THEBONDS; OR (vi) ANY CONSENT GIVEN OR OTHER ACTION TAKEN BY DTC, OR ITSNOMINEE, CEDE & CO., AS OWNER.

(j) The Registration Agent is hereby authorized to take such action as may benecessary from time to time to qualify and maintain the Bonds for deposit with DTC, includingbut not limited to, wire transfers of interest and principal payments with respect to the Bonds,utilization of electronic book entry data received from DTC in place of actual delivery of Bondsand provision of notices with respect to Bonds registered by DTC (or any of its designeesidentified to the Registration Agent) by overnight delivery, courier service, telegram, telecopy orother similar means of communication. No such arrangements with DTC may adversely affectthe interest of any of the owners of the Bonds, provided, however, that the Registration Agentshall not be liable with respect to any such arrangements it may make pursuant to this section.

(k) The Registration Agent is hereby authorized to authenticate and deliver the Bondsto the original purchaser, upon receipt by the County of the proceeds of the sale thereof and toauthenticate and deliver Bonds in exchange for Bonds of the same principal amount delivered fortransfer upon receipt of the Bond(s) to be transferred in proper form with proper documentationas hereinabove described. The Bonds shall not be valid for any purpose unless authenticated bythe Registration Agent by the manual signature of an officer thereof on the certificate set forthherein on the Bond form.

(1) In case any Bond shall become mutilated, or be lost, stolen, or destroyed, theCounty, in its discretion, shall issue, and the Registration Agent, upon written direction from the

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~i!4818-1719-3497 vl-.

County, shall authenticate and deliver, a new Bond of like tenor, amount, maturity and date, inexchange and substitution for, and upon the cancellation of: the mutilated Bond, or in lieu of andin substitution for such lost, stolen or destroyed Bond, or if any such Bond shall have matured orshall be about to mature, instead of issuing a substituted Bond the County may payor authorizepayment of such Bond without surrender thereof. In every case the applicant shall furnishevidence satisfactory to the County and the Registration Agent of the destruetion, theft or loss ofsuch Bond, and indemnity satisfaetory to the County and the Registration Agent; and the Countymay eharge the applieant for the issue of such new Bond an amount suffieient to reimburse theCounty for the expense incurred by it in the issue thereof.

Section 4. Source of Payment. The Bonds shall be payable from unlimited advalorem taxes to be levied on all taxable property within the County. For the prompt payment ofprincipal of, premium, if any, and interest on the Bonds, the full faith and credit of the Countyare hereby irrevocably pledged.

Section S. Form of Bonds. The Bonds shall be in substantially the following form,the omissions to be appropriately completed when the Bonds are prepared and delivered:

(Form of Face of Bond)

REGISTEREDNumber _

UNITED STATES OF AMERICASTATE OF TENNESSEE

COUNTY OF ROBERTSONGENERAL OBLIGATION SCHOOL BONDS.

SERIES 2014

REGISTERED

$,-----

Interest Rate:

Registered Owner:

Principal Amount:

Maturity Date: Date of Bond: CUSIP No.:

FOR VALUE RECEIVED, Robertson County, Tennessee (the "County") herebypromises to pay to the registered owner hereof: hereinabove named, or registered assigns, in themanner hereafter provided, the principal amount hereinabove set forth on the maturity datehereinabove set forth (or upon earlier redemption as set forth herein), and to pay interest(computed on the basis of a 360-day year of twelve 30-day months) on said principal amount atthe annual rate of interest hereinabove set forth from the date hereof until said maturity date orredemption date, said interest being payable on November 1,2014, and semi-annually thereafteron the first day of May and November in each year until this Bond matures or is redeemed. Theprincipal hereof and interest hereon are payable in lawful money of the United States of Americaby check or draft at the principal corporate trust office of , Nashville,Tennessee, as registration agent and paying agent (the "Registration Agent"). The Registration

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Agent shall make all interest payments with respect to this Bond on each interest payment datedirectly to the registered owner hereof shown on the Bond registration records maintained by theRegistration Agent as of the close of business on the fifteenth day of the month next precedingthe interest payment date (the "Regular Record Date") by check or draft mailed to such owner atsuch owner's address shown on said Bond registration records, without, except for finalpayment, the presentation or surrender of this Bond, and all such payments shall discharge theobligations of the County to the extent of the payments so made. Any such interest not sopunctually paid or duly provided for on any interest payment date shall forthwith cease to bepayable to the registered owner on the relevant Regular Record Date; and, in lieu thereof, suchdefaulted interest shall be payable to the person in whose name this Bond is registered at theclose of business on the date (the "Special Record Date") for payment of such defaulted interestto be fixed by the Registration Agent, notice of which shall be given to the owners of the Bondsof the issue of which this Bond is one not less than ten (10) days prior to such Special RecordDate. Payment of principal of and premium, if any, on this Bond shall be made when due uponpresentation and surrender of this Bond to the Registration Agent.

Except as otherwise provided herein or in the Resolution, as hereafter defined, this Bondshall be registered in the name of Cede & Co., as nominee of The Depository Trust Company,New York, New York CDTC"), which will act as securities depository for the Bonds of theseries of which this Bond is one. One Bond for each maturity of the Bonds shall be issued toDTC and immobilized in its custody. A Book-Entry System as defined in the Resolution, shallbe employed, evidencing ownership of the Bonds in $5,000 denominations, or multiples thereof,with transfers of beneficial ownership affected on the records of DTC and the DTC Participants,as defined in the Resolution, pursuant to rules and procedures established by DTC. So long asCede & Co., as nominee for DTC, is the registered owner of the Bonds, the County and theRegistration Agent shall treat Cede & Co., as the only owner of the Bonds for all purposes underthe Resolution, including receipt of all principal and maturity amounts of, premium, if any, andinterest on the Bonds, receipt of notices, voting and requesting or taking or not taking, orconsenting to, certain actions hereunder. Payments of principal, maturity amounts, interest, andredemption premium, if any, with respect to the Bonds, so long as DTC is the only owner of theBonds, shall be paid directly to DTC or its nominee, Cede & Co. DTC shall remit suchpayments to DTC Participants, and such payments thereafter shall be paid by DTC Participantsto the Beneficial Owners, as defined in the Resolution. Neither the County nor the RegistrationAgent shall be responsible or liable for payment by DTC or DTC Participants, for sendingtransaction statements or for maintaining, supervising or reviewing records maintained by DTCor DTC Participants. In the event that (I) DTC determines not to continue to act as securitiesdepository for the Bonds or (2) the County determines that the continuation of the Book-EntrySystem of evidence and transfer of ownership of the Bonds would adversely affect its interests orthe interests of the Beneficial Owners of the Bonds as defined in the Resolution, the County maydiscontinue the Book-Entry System with DTC. If the County fails to identify another qualifiedsecurities depository to replace DTC, the County shall cause the Registration Agent toauthenticate and deliver replacement Bonds in the form of fully registered Bonds to eachBeneficial Owner. Neither the County nor the Registration Agent shall have any responsibilityor obligations to any DTC Participant or any Beneficial Owner with respect to (i) the Bonds; (ii)the accuracy of any records maintained by DTC or any DTC Participant; (iii) the payment by

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-11'1818-1719-3497 v. \ --.

DTC or any DTC Participant of any amount due to any Beneficial Owner in respect of theprincipal or maturity amounts of and interest on the Bonds; (iv) the delivery or timeliness ofdelivery by DTC or any DTC Participant of any notice due to any Beneficial Owner that isrequired or permitted under the terms of the Resolution to be given to Beneficial Owners, (v) theselection of Beneficial Owners to receive payments in the event of any partial redemption of theBonds; or (vi) any consent given or other action taken by DTC, or its nominee, Cede & Co., asowner.

Bonds maturing May 1, 2016 through May 1, 2024, inclusive, shall mature withoutoption of prior redemption and Bonds maturing May 1, 2025 and thereafter, shall be subjeet toredemption prior to maturity at the option of the County on May 1, 2024 and thereafter, as awhole or in part at any time at the redemption price of par plus aecrued interest to the redemptiondate.

If less than all the Bonds shall be called for redemption, the maturities to be redeemedshall be designated by the Board of County Commissioners of the County, in its discretion. Ifless than all the principal amount of the Bonds of a maturity shall be called for redemption. theinterests within the maturity to be redeemed shall be selected as follows:

(i) if the Bonds are being held under a Book-Entry System by DTC, or asuccessor Depository, the amount of the interest of each DTC Participant in the Bonds tobe redeemed shall be determined by DTC, or such successor Depository, by lot or suchother manner as DTC, or such successor Depository, shall determine; or

(ii) if the Bonds are not being held under a Book-Entry System by DTC, or asuccessor Depository, the Bonds within the maturity to be redeemed shall be selected bythe Registration Agent by lot or such other random manner as the Registration Agent inits discretion shall determine.

Subject to the credit hereafter provided, the County shall redeem Bonds maturing_________ on the redemption dates set forth below opposite the maturity dates, inaggregate principal amounts equal to the respective dollar amounts set forth below opposite therespective redemption dates at a price of par plus accrued interest thereon to the date ofredemption. DTC, as securities depository for the series of Bonds of which this Bond is one, orsuch Person as shall then be serving as the securities depository for the Bonds, shall determinethe interest of each Participant in the Bonds to be redeemed using its procedures generally in useat that time. If DTC, or another securities depository is no longer serving as securities depositoryfor the Bonds, the Bonds to be redeemed within a maturity shall be selected by the RegistrationAgent by lot or such other random manner as the Registration Agent in its discretion shall seleet.The dates of redemption and principal amount of Bonds to be redeemed on said dates are asfollows:

FinalMaturity

-#4818-1719-3497 v.}-

RedemptionDate

11

PrincipalAmountof Bonds

Redeemed

"Final Maturity

At its option, to be exercised on or before the forty-fifth (45th) day next preceding anysueh redemption date, the County may (i) deliver to the Registration Agent for cancellationBonds to be redeemed, in any aggregate principal amount desired, and/or (ii) receive a credit inrespect of its redemption obligation under this mandatory redemption provision for any Bonds ofthe maturity to be redeemed which prior to said date have been purchased or redeemed(otherwise than through the operation of this mandatory sinking fund redemption provision) andcanceled by the Registration Agent and not theretofore applied as a credit against any redemptionobligation under this mandatory sinking fund provision. Each Bond so delivered or previouslypurchased or redeemed shall be credited by the Registration Agent at 100% of the principalamount thereof on the obligation of the County on such payment date and any excess shall becredited on future redemption obligations in chronological order, and the principal amount ofBonds to be redeemed by operation of this mandatory sinking fund provision shall beaccordingly reduced. The County shall on or before the forty-fifth (45th) day next precedingeach payment date furnish the Registration Agent with its certificate indicating whether or notand to what extent the provisions of clauses (i) and (ii) of this subsection are to be availed ofwith respect to such payment and confirm that funds for the balance of the next succeedingprescribed payment will be paid on or before the next suceeeding payment date.

Notice of call for redemption, whether optional or mandatory, shall be given by theRegistration Agent not less than thirty (30) nor more than sixty (60) days prior to the date fixedfor redemption by sending an appropriate notice to the registered owners of the Bonds to beredeemed by first-class mail, postage prepaid, at the addresses shown on the Bond registrationrecords of the Registration Agent as of the date of the notice; but neither failure to mail suchnotice nor any defect in any such notice so mailed shall affect the sufficiency of the proceedingsfor the redemption of any of the Bonds for which proper notice was given. As long as DTC, or asuccessor Depository, is the registered owner of the Bonds, all redemption notices shall bemailed by the Registration Agent to DTC, or such successor Depository, as the registered ownerof the Bonds, as and when above provided, and neither the County nor the Registration Agentshall be responsible for mailing notices of redemption to DTC Participants or Beneficial Owners.Failure of DTC, or any successor Depository, to provide notice to any DTC Participant will notaffect the validity of such redemption. From and after any redemption date, all Bonds called forredemption shall cease to bear interest if funds are available at the office of the RegistrationAgent for the payment thereof and if notice has been duly provided as set forth in the Resolution.

This Bond is transferable by the registered owner hereof in person or by such owner'sattorney duly authorized in writing at the principal corporate trust office of the RegistrationAgent set forth on the front side hereof, but only in the manner, subject to limitations and uponpayment of the charges provided in the Resolution and upon surrender and cancellation of this

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Bond. Upon such transfer a new Bond or Bonds of authorized denominations of the samematurity and interest rate for the same aggregate principal amount will be issued to the transfereein exchange therefor. The person in whose name this Bond is registered shall be deemed andregarded as the absolute owner thereof for all purposes and neither the County nor theRegistration Agent shall be affected by any notice to the contrary whether or not any paymentsdue on the Bond shall be overdue. Bonds, upon surrender to the Registration Agent, may, at theoption of the registered owner thereof, be exchanged for an equal aggregate principal amount ofthe Bonds of the same maturity in authorized denomination or denominations, upon the terms setforth in the Resolution. The Registration Agent shall not be required to transfer or exchange anyBond during the period commencing on a Regular Record Date or Special Record Date andending on the corresponding interest payment date of such Bond, nor to transfer or exchange anyBond after the notice calling such Bond for redemption has been made, nor during a periodfollowing the receipt of instructions from the County to call such Bond for redemption.

This Bond is one of a total authorized issue aggregating $ and issued bythe County for the purpose of providing funds to (a) acquire land and develop sites for schoolpurposes; construct, repair, renovate and equip County school buildings and school facilities;acquire all property, real and personal, appurtenant to the foregoing; pay legal, fiscal,administrative, architectural and engineering costs incident to the foregoing; reimburse theappropriate fund of the County for prior expenditures for the foregoing costs, if applicable(collectively, the "Projects"); and retire any outstanding notes authorized and issued, proceeds ofwhich were used for any of the foregoing purposes and (b) pay costs incident to the issuance andsale of bonds authorized herein of which this Bond is one, pursuant to Sections 49-3-1001 etseq., Tennessee Code Annotated, as amended, and pursuant to a resolution duly adopted by theBoard of County Commissioners of the County on April 21, 2014 (the "Resolution").

This Bond is payable from unlimited ad valorem taxes to be levied on all taxableproperty within the County. For the prompt payment of principal of, premium, if any, andinterest on the Bonds, the full faith and credit of the County is irrevocably pledged. For a morecomplete statement of the general covenants and provisions pursuant to which this Bond isissued, reference is hereby made to the Resolution.

This Bond and the income therefrom are exempt from all present state, county andmunicipal taxes in Tennessee except (a) inheritance, transfer and estate taxes, (b) Tennesseeexcise taxes on interest on the Bond during the period the Bond is held or beneficially owned byany organization or entity, other than a sole proprietorship or general partnership, doing businessin the State of Tennessee, and (c) Tennessee franchise taxes by reason of the inclusion of thebook value of the Bond in the Tennessee franchise tax base of any organization or entity, otherthan a sole proprietorship or general partnership, doing business in the State of Tennessee.

It is hereby certified, recited, and declared that all acts, conditions and things required toexist, happen and be performed precedent to and in the issuance of this Bond exist, havehappened and have been performed in due time, form and manner as required by law, and thatthe amount of this Bond, together with all other indebtedness of the County, does not exceed anylimitation prescribed by the constitution and statutes ofthe State of Tennessee.

13

;;'1/\ I g~171l)-J497 v I

Transferable and payable at theprincipal corporate trust office of:

Date of Registration: ~

This Bond is one of the issue of Bonds issued pursuant to the Resolution hereinabovedescribed.

Registration Agent

Authorized OfficerBy:_:--;-~~~ _

(FORM OF ASSIGNMENT)

FOR VALUE RECEIVED, the undersigned sells, assigns, and transfers unto___._ , whose address is _(Please insert Federal Identification or Social Security Number of Assignee ),the within Bond of Robertson County, Tennessee, and does hereby irrevocably constitute andappoint ..' attorney, to transfer the said Bond on the records kept forregistration thereof with full power of substitution in the premises.

Dated:~~~~~~~_

NOTICE: The signature to this assignmentmust correspond with the name of theregistered owner as it appears on the face ofthe within Bond in every particular, withoutalteration or enlargement or any changewhatsoever.

Signature guaranteed:

NOTICE: Signature(s) must be guaranteedby a member firm of a Medallion Programacceptable to the Registration Agent.

Section 6. Levy of Tax. The County, through its Governing Body, shall annuallylevy and collect a tax upon all taxable property within the County, in addition to all other taxesauthorized by law, sufficient to pay principal of, premium, if any, and interest on the Bonds

15

,ii4RlS-1719·3497 vl-.

when due, and for that purpose there is hereby levied a direct annual tax in such amount as maybe found necessary each year to pay principal and interest coming due on the Bonds in said year.Principal and interest falling due at any time when there are insufficient funds from this tax levyon hand shall be paid from the current funds of the County and reimbursement therefor shall bemade out of the taxes hereby provided to be levied when the same shall have been collected.The tax herein provided, to the extent permitted by law, may be reduced to the extent of anydirect appropriations from other legally available funds, taxes and revenues of the County to thepayment of debt service on the Bonds.

Section 7. Sale of Bonds.

(a) Either the Governing Body in a subsequent meeting or the County Mayor, in eachcase in consultation with the Financial Advisor, shall take the following actions in connectionwith the offer and sale of the Bonds. The Bonds shall be offered for public sale, as required bylaw, in one or more emissions, at a price of not less than ninety-nine percent (99%) of par, plusaccrued interest, as a whole or in part from time to time.

(b) The Bonds, or any emission thereof, shall be sold by delivery of bids via physicaldelivery, mail, fax, or telephone or by electronic bidding means of an internet bidding service.

(c) If the Bonds are sold in more than one emission, the aggregate principal amountof Bonds to be sold shall be less than that shown in Section 3 hereof. Corresponding adjustmentsto the maturity schedule of each emission designated in Section 3 hereof shall be made inconnection with the foregoing, so long as the total aggregate principal amount of all emissionsissued does not exceed the total aggregate of Bonds authorized to be issued herein.

(d)the Bonds:

The following are further authorized in connection with the issuance and sale of

(l) the dated date of the Bonds or any emission thereof, may be changed to adate other than the date of issuance of the Bonds;

(2) the designation of the Bonds, or any emission thereof, may be changed toa designation other than "General Obligation School Bonds" and the series designation ofthe Bonds, or any emission thereof shall be designated;

(3) the first interest payment date on the Bonds or any emission thereof maybe adjusted to a date other than November 1, 2014, provided that such date is not laterthan twelve months from the dated date of such emission of Bonds;

(4) the principal and interest payment dates and the maturity amounts of theBonds, or any emission thereof, may be adjusted provided that (A) the total principalamount of all emissions of the Bonds does not exceed the total amount of Bondsauthorized herein; and (B) the final maturity date of each emission shall not exceed thethirtieth fiscal year following the fiscal year of its emission;

16

-1/'!818-1719-3497 v.I-'

(5) the optional redemption provisions provided in Section 3 hereof may beadjusted so long as the premium amount to be paid on Bonds or any emission thereofdoes not exceed two percent (2%) of the principal amount thereof;

(6) the Bonds, or any emission thereof, or any maturities thereof may be soldas Term Bonds with mandatory redemption requirements corresponding to the maturitiesset forth in the Notice of Sale; and

(7) all or a portion of the Bonds may be insured by a bond insurance policyissued by a nationally recognized bond insurance company to achieve the purposes setforth herein and to serve the best interests of the County and to enter into agreementswith such insurance company with respect to any emission of Bonds to the extent notinconsistent with this Resolution.

(e) The Bonds, or any emission thereof, may be sold simultaneously with any otherbonds or notes authorized by resolution or resolutions of the Governing Body. The Bonds, orany emission thereof, may be sold as a single issue of bonds with any other bonds withsubstantially similar terms authorized by resolution or resolutions of the Governing Body, in oneor more emissions or series and in doing so, the designation of the Bonds may be changed to adesignation other than "General Obligation School Bonds"; provided, however, that the totalaggregate principal amount of combined bonds to be sold does not exceed the total aggregateprincipal amount of Bonds authorized by this resolution or bonds authorized by any otherresolution or resolutions adopted by the Governing Body.

(f) The County Mayor is authorized to award the Bonds, or any emission thereof, orthe Governing Body in a subsequent meeting may award the Bonds, or any emission thereof, ineach case to the bidder whose bid results in the lowest true interest cost to the County, providedthe rate or rates on the Bonds, or any emission thereof, does not exceed the maximum ratepermitted by applicable Tennessee law at the time of the issuance of the Bonds or any emissionthereof. The award of the Bonds to the lowest bidder shall be binding on the County, and nofurther action of the Governing Body with respect thereto shall be required. The form of theBond set forth in Section 5 hereof. shall be conformed to reflect any changes made pursuant tothis Section 8 hereof

(g) The County Mayor and County Clerk are authorized to cause the Bonds, in book-entry form (except as otherwise permitted herein), to be authenticated and delivered by theRegistration Agent to the successful bidder and to execute, publish, and deliver all certificatesand documents, including an official statement and closing certificates, as they shall deemnecessary in connection with the sale and delivery of the Bonds. The County Mayor and CountyClerk are hereby authorized and directed to enter into a contract with the Financial Advisor, forfinancial advisory services in connection with the sale of the Bonds and to enter into a contractwith Nelson Mullins Riley & Scarborough LLP to serve as bond counsel in connection with theBonds.

Section 8. Disposition of Bond Proceeds. The proceeds of the sale of the Bonds shallbe disbursed as follows:

17

'-N'4818-\719-3497 v.l-.

(a) all accrued interest, if any, shall be deposited to the appropriate fund of theCounty to be used to pay interest on the Bonds on the first interest payment date followingdelivery of the Bonds; and

(b) the remainder of the proceeds of the sale of the Bonds shall be deposited with afinancial institution regulated by the Federal Deposit Insurance Corporation or similar federalagency in a special fund known as the Elementary School Construction Fund (the "ConstructionFund"), or such other designation as shall be determined by the County Finance Director to bekept separate and apart from all other funds of the County. The County shall disburse funds inthe Construction Fund to pay capitalized interest, if any, on the Bonds during the period ofconstruction of the Projects and for a period of up to six months thereafter, reimburse the Countyfor funds previously expended for the Projects, if any, and pay costs of issuance of the Bonds,including necessary legal, accounting and fiscal expenses, printing, engraving, advertising andsimilar expenses, administrative and clerical costs, Registration Agent fees, bond insurancepremiums, if any, and other necessary miscellaneous expenses incurred in connection with theissuance and sale of the Bonds. The remaining funds in the Construction Fund shall be disbursedsolely to pay the costs of the Projects. Money in the Construction Fund shall be secured in themanner prescribed by applicable statutes relative to the securing of public or trust funds, if any,or, in the absence of such a statute, by a pledge of readily marketable securities having at alltimes a market value of not less than the amount in said Construction Fund. Money in theConstruction Fund shall be expended only for the purposes authorized by this resolution. Anyfunds remaining in the Construction Fund after completion of the Projects and payment ofauthorized expenses shall be paid to the County Trustee and shall be used to pay principal of andinterest on the Bonds. Moneys in the Construction Fund shall be invested at the direction of theCounty Trustee in such investments as shall be permitted by applicable law. Earnings from suchinvestments shall be (i) retained in the Construction Fund to be used to reimburse the County forcosts of issuance related to the Bonds and for any other purposes authorized in this resolution,and (ii) be transferred to the County's debt service fund at the direction of the Governing Bodyto the extent permitted by applicable law.

(e) In accordance with state law, the various department heads responsible for thefund or funds receiving and disbursing funds are hereby authorized to amend the budget of theproper fund or funds for the receipt of proceeds from the issuance of the obligations authorizedby this resolution including bond proceeds, accrued interest, reoffering premium and otherreceipts from this transaction. The department heads responsible for the fund or funds are furtherauthorized to amend the proper budgets to reflect the appropriations and expenditures of thereceipts authorized by this resolution.

Section 9. Ot11cial Statement. The County Mayor, County Finance Director, andCounty Clerk, or any of them, working with the County's financial advisor, are herebyauthorized and directed to provide for the preparation and distribution, which may includeelectronic distribution, of a Preliminary Official Statement describing the Bonds. After bidshave been received and the Bonds have been awarded, the County Mayor, the County FinanceDirector and the County Clerk, or any of them, shall make such completions, omissions,insertions and changes in the Preliminary Official Statement not inconsistent with this resolution

18

#4818-1719-3497 v. I

as are necessary or desirable to complete it as a final Official Statement for purposes of Rule15c2-12(e)(3) of the Securities and Exchange Commission. The County Mayor, the CountyFinance Director and the County Clerk, or any of them, shall arrange for the delivery to thesuccessful bidder on the Bonds of a reasonable number of eopies of the Official Statement withinseven business days after the Bonds have been awarded for delivery, by the successful bidder onthe Bonds, to each potential investor requesting a copy of the Official Statement and to eachperson to whom such bidder and members of his bidding group initially sell the Bonds.

The County Mayor, the County Finance Director and the County Clerk, or any of them,are authorized, on behalf of the County, to deem the Preliminary Official Statement and theOfficial Statement in final form, each to be final as of its date within the meaning of Rule 15c2­12(b)(I), except for the omission in the Preliminary Official Statement of certain pricing andother information allowed to be omitted pursuant to such Rule 15e2-12(b)(I). The distributionof the Preliminary Official Statement and the Official Statement in final form shall be conclusiveevidence that each has been deemed in final form as of its date by the County except for theomission in the Preliminary Official Statement of such pricing and other information.

Notwithstanding the foregoing, no Official Statement is required to be prepared if theBonds are purchased by a purchaser that certifies that such purchaser intends to hold the Bondsfor its own account and has no present intention to reoffer the Bonds.

Section 10. Diseharge and Satisfaction of Bonds. If the County shall pay anddischarge the indebtedness evidenced by any of the Bonds in anyone or more of the followingways, to wit:

(a) By paying or eausing to be paid, by deposit of sufficient funds as and whenrequired with the Registration Agent, the principal of and interest on such Bonds as and when thesame become due and payable;

(b) By depositing or causing to be deposited with any trust company or financialinstitution whose deposits are insured by the Federal Deposit Insurance Corporation or similarfederal agency and which has trust powers ("an Agent"; which Agent may be the RegistrationAgent) in trust or escrow, on or before the date of maturity or redemption, sufficient money orFederal Obligations, as hereafter defined, the principal of and interest on which, when due andpayable, will provide sufficient moneys to payor redeem such Bonds and to pay interest thereonwhen due until the maturity or redemption date (provided, if such Bonds are to be redeemedprior to maturity thereof, proper notice of such redemption shall have been given or adequateprovision shall have been made for the giving of such notice);

(c) By delivering such Bonds to the Registration Agent, for cancellation by it;

and if the County shall also payor cause to be paid all other sums payable hereunder by theCounty with respect to such Bonds, or make adequate provision therefor, and by resolution of theGoverning Body instruct any such Escrow Agent to pay amounts when and as required to theRegistration Agent for the payment of principal of and interest on such Bonds when due, thenand in that case the indebtedness evidenced by such Bonds shall be discharged and satisfied and

19

--#tl818-171'J-:wn v. ).-

all covenants, agreements and obligations of the County to the holders of such Bonds shall befully discharged and satisfied and shall thereupon cease, terminate and become void.

If the County shall pay and discharge the indebtedness evidenced by any of the Bonds inthe manner provided in either clause (a) or clause (b) above, then the registered owners thereofshall thereafter be entitled only to payment out of the money or Federal Obligations deposited asaforesaid.

Except as otherwise provided in this Section, neither Federal Obligations nor moneysdeposited with the Registration Agent pursuant to this Section nor principal or interest paymentson any such Federal Obligations shall be withdrawn or used for any purpose other than, and shallbe held in trust for, the payment of the principal and interest on said Bonds; provided that anycash received from such principal or interest payments on such Federal Obligations depositedwith the Registration Agent, (A) to the extent such cash will not be required at any time for suchpurpose, shall be paid over to the County as received by the Registration Agent and (B) to theextent such cash will be required for such purpose at a later date, shall, to the extent practicable,be reinvested in Federal Obligations maturing at times and in amounts sufficient to pay when duethe principal and interest to become due on said Bonds on or prior to such redemption date ormaturity date thereof, as the case may be, and interest earned from such reinvestments shall bepaid over to the County, as received by the Registration Agent. For the purposes of this Section,"Federal Obligations" shall mean direct obligations of, or obligations, the principal of andinterest on which are guaranteed by, the United States of America, or any agency thereof,obligations of any agency or instrumentality of the United States or any other obligations at thetime of the purchase thereof are permitted investments under Tennessee Law for the purposesdescribed in this Section, which bonds or other obligations shall not be subject to redemptionprior to their maturity other than at the option of the registered owner thereof.

Section 11. Tax Matters. The County recognizes that the purchasers and owners ofthe Bonds will have accepted them on, and paid therefor a price that ref1ects the understandingthat interest thereon is excludable from gross income for purposes of federal income taxationunder laws in force on the date of delivery of the Bonds. In this connection, the County agreesthat it shall take no action which may cause the interest on any of said Bonds to be included ingross income for federal income taxation. It is the reasonable expectation of the GoverningBody of the County that the proceeds of the Bonds will not be used in a manner which will causethe Bonds to be "arbitrage bonds" within the meaning of Section 148 of the Code, and to this endthe said proceeds of the Bonds and other related funds established for the purposes herein set outshall be used and spent expeditiously for the purposes described herein. The Governing Bodyfurther covenants and represents that in the event it shall be required by Section 148(f) of theCode to pay any investment proceeds of the Bonds to the United States government, it will makesuch payments as and when required by said Section 148(f) and will take such other actions asshall be necessary or permitted to prevent the interest on the Bonds from becoming taxable. TheCounty Mayor and County Clerk, or either of them, are authorized and directed to make suchcertifications in this regard in connection with the sale of the Bonds as either or both shall deemappropriate, and such certifications shall constitute a representation and certification of theCounty.

20

~#48J 8-1719-3497 v, I~

Section 12. Continuing Disclosure. The County hereby covenants and agrees that itwill provide annual financial information and material event notices if and as required by Rule15c2-12 of the Securities Exchange Commission for the Bonds. The County Mayor isauthorized to execute at the Closing of the sale of the Bonds, an agreement for the benefit of andenforceable by the owners of the Bonds specifying the details of the financial information andmaterial event notices to be provided and its obligations relating thereto. Failure of the Countyto comply with the undertaking herein described and to be detailed in said closing agreement.shall not be a default hereunder, but any such failure shall entitle the owner or owners of any ofthe Bonds to take such actions and to initiate such proceedings as shall be necessary andappropriate to cause the County to comply with their undertaking as set forth herein and in saidagreement. including the remedies of mandamus and specific performance.

Section 13. Qualified Tax-Exempt Obligations. The Governing Body herebydesignates the Bonds, or any emission thereof, as "qualified tax-exempt obligations", to theextent the Bonds, or any emission thereof. may be so designated. within the meaning of andpursuant to Section 265 of the Internal Revenue Code of 1986. as amended.

Section 14. Reasonably Expected Economic Life. The "reasonably expectedeconomic life" of the Project within the meaning of Sections 9-21-10] et seq., Tennessee CodeAnnotated, is greater than 30 years.

Section 15. Reimbursement. It is reasonably expected that the County will reimburseitself for certain expenditures made by it in connection with the Project by issuing the Bonds.This resolution shall be placed in the minutes of the Governing Body and shall be made availablefor inspection by the general public at the office of the Governing Body. This resolutionconstitutes a declaration of official intent under Treas. Reg. §1.150-2.

Section 16. Resolution a Contract. The provisions of this resolution shall constitute acontract between the County and the registered owners of the Bonds, and after the issuance ofthe Bonds, no change. variation or alteration of any kind in the provisions of this resolution shallbe made in any manner until such time as the Bonds and interest due thereon shall have beenpaid in full.

Section 17. Separability. If any section. paragraph or provision of this resolution shallbe held to be invalid or unenforceable for any reason, the invalidity or unenforceability of suchsection. paragraph or provision shall not affect any of the remaining provisions of this resolution.

Section] 8. Repeal of Conflicting Resolutions and Effective Date. All otherresolutions and orders, or parts thereof in conflict with the provisions of this resolution, are, tothe extent of such conflict, hereby repealed and this resolution shall be in immediate effect fromand after its adoption.

Duly adopted and approved this 21st day of April, 2014.

21

- ii4R I 8-\719-3407 v. l-

IN WITNESS WHEREOF, the County has caused this Bond to be signed by its CountyMayor with his manual or facsimile signature and attested by its County Clerk with her manualor facsimile signature under an impression or facsimile of the corporate seal of the County, all asof the date hereinabove set forth,

County Clerk

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-#48IS~1719-3497 v.t-

14

ROBERTSON COUNTY

BY: fiL- -<~ ~~County Mayor

IV IV

EXHIBIT A

FUND 151

ROBERTSON COUNTY, TENNESSEECURRENT OBLIGATIONSGeneral Debt Service Fund 151

4/21f2014 1:18 PM

1 2 3 4 5 6 7 8 9 10 11 12

CURRENT DEBT SERVICE PAYMENTS AND COSTS Total Percentage PercentageYR. FISCAL Co. Trustee Current Principal TotalNO. YEAR BONDS Notes, Loan Agreements & QZAS Commission Debt Paid Debt

Principal Interest Total Principal Interest Total and Other Service Servicecnaraes Costs Paid

2014 8.990,000 5,379,013 14,369,013 1,115,000 112,575 1,227,575 308,545 15,905,133 7.57% 8.59%1 2015 9,445,000 5,070,900 14,515,900 660,000 79,125 739,125 310,804 15,565,829 15.13% 17.00%2 2016 8,585,000 4,725,550 13,310,550 380,000 52,725 432,725 313,084 14,056,359 21.84% 24.59%3 2017 8,915,000 4,407,950 13,322,950 375,000 37,525 412,525 315,386 14,050,861 28.80% 32.18%4 2018 9,170,000 4,065,676 13,235,676 375,000 22,525 397,525 317,709 13,950,910 35.95% 39.71%5 2019 9,880,000 3,681,657 13,561,657 215,000 7,525 222,525 320,055 14,104,237 43.50% 47.33%6 2020 7,890,000 3,249,857 11,139,857 322,422 11,462,279 49.41% 53.52%7 2021 8,140,000 2,907,007 11,047,007 324,813 11,371,820 55.51% 59.66%8 2022 8,360,000 2,581,407 10,941,407 327,225 11,268,632 61.77% 65.74%9 2023 8,745,000 2,247,007 10,992,007 329,661 11,321,668 68.31% 71.86%

10 2024 9,060,000 1,870,845 10.930,845 332,120 11,262,965 75.10% 77.94%11 2025 9,350,000 1,478,157 10,828,157 334,603 11,162,760 82.10% 83.97%12 2026 8,065,000 1,082,445 9,147,445 337,109 9,484,554 88.14% 89.09%13 2027 8,395,000 720,820 9,115,820 339,638 9,455,458 94.42% 94.20%14 2028 4,650,000 350,118 5,000,118 342,192 5,342,310 97.90% 97.08%15 2029 2,800,000 133,000 2,933,000 344,770 3,277,770 100.00% 98.85%16 2030 347,373 347,373 100.00% 99.04%17 2031 350,001 350,001 100.00% 9923%18 2032 352,653 352,653 100.00% 99.42%19 2033 355,331 355,331 100.00% 99.61%20 2034 358,034 358,034 100.00% 99.81%21 2035 360,763 360,763 100.00% 100.00%22 2036 363,518 363,518 100.00% 100.20%23 2037 366,300 366,300 100.00% 100.39%

130,440,000 43,951,409 174,391,409 3,120,000 312,000 3,432,000

Page 1

EXHIBIT B ROBERTSON COUNTY, TENNESSEECurrent SUMMARY OF FUNDING SOURCES AND PROJECTIONS 4/21/2014 1:19PM

Information FOR COUNTY GENERAL DEBT SERVICE FUND 151

IFUND 1511DISCLAIMER: The projections of this analysis are based on current and historical data. White the projections are conservative, they are projections that will depend onmany unknown economic factors of the future.

PROPERTY TAX Proposed 0.5. Tax Rate: Proposed Tax Rate: Collection Percent:FACTORS ••••> 2013·14 $0.8500 2014-15 $0.8500

1 2 3 4 6 7 8 9 10 11 12 13 14FUNDING SOURCES WITH PROJECTIONS Trustee's

Yr. Fiscal PROPERTY TAXES Other Adequate Transfers from Other Total CommissionNo. Year Growth Prop- Amount Estimated Wheel Loe Taxes Facilities Interest Funds Revenues and

Estimate osed Per Amount Tax & Revenues Tax Earnings and Other

Property One Growth Est. Growth Est. Growth Est. Growth Es Transfer Transfer Transfers 0.5. Charges

Tax Rate Cent 0.25% 0.25% 0.00% Fund Fund 34,9272014 $0.8500 123,500 10,497,500 4,050,459 1,158,177 428,251 75,015 16,209,402 308,545

1 2015 1.00% $0.8500 124,735 10,602,475 4,060,585 1,161,072 428,255 75,015 16,327,403 310,8042 2016 1.00% $0.8500 125,982 10,708,500 4,070,737 1,163,975 428,260 75,015 16,446,486 313,0843 2017 1.00% $0.8500 127,242 10,815,585 4,080,913 1,166,885 428,264 75,015 16,566,663 315,3864 2018 1.00% $0.8500 128,515 10,923,741 4,091,116 1,169,802 428,268 75,015 16,687,942 317,7095 2019 1.00% $0.8500 129,800 11,032,978 4,101,344 1,172,727 428,272 75,015 16,810,336 320,0556 2020 1.00% $0.8500 131,098 11,143,308 4,111,597 1,175,659 428,277 75,015 16,933,855 322,4227 2021 1.00% $0.8500 132,409 11,254,741 4,121,876 1,178,598 428,281 75,015 17,058,511 324,8138 2022 1.00% $0.8500 133,733 11,367,289 4,132,181 1,181,544 428,285 75,015 17,184,314 327,2259 2023 1.00% $0.8500 135,070 11,480,962 4,142,511 1,184,498 428,290 75,015 17,311,275 329,661

10 2024 1.00% $0.8500 136,421 11,595,771 4,152,867 1,187,459 428,294 75,015 17,439,407 332,12011 2025 1.00% $0.8500 137,785 11,711,729 4,163,249 1,190,428 428,298 75,015 17,568,719 334,60312 2026 1.00% $0.8500 139,163 11,828,846 4,173,658 1,193,404 428,302 75,015 17,699,225 337,10913 2027 1.00% $0.8500 140,555 11,947,135 4,184,092 1,196,388 428.307 75,015 17,830,936 339,63814 2028 1.00% $0.8500 141,960 12,066,606 4,194,552 1,199,379 428,311 75,015 17,963,862 342,19215 2029 1.00% $0.8500 143,380 12,187,272 4,205,038 1,202,377 428,315 75,015 18,098,018 344,77016 2030 1.00% $0.8500 144,813 12,309,145 4,215,551 1,205,383 428,320 75,015 18,233,413 347,37317 2031 1.00% $0.8500 146,262 12,432,236 4,226,090 1,208,396 428,324 75,015 18,370,061 350,00118 2032 1.00% $0.8500 147,724 12,556,559 4,236,655 1,211,417 428,328 75,015 18,507,974 352,65319 2033 1.00% $0.8500 149,201 12,682,124 4,247,247 1,214,446 428,332 75,015 18,647,164 355,33120 2034 1.00% $0.8500 150,693 12,808,945 4,257,865 1,217,482 428,337 75,015 18,787,644 358,03421 2035 1.00% $0.8500 152,200 12,937,035 4,268,509 1,220,526 428,341 75,015 18,929,426 360,76322 2036 1.00% $0.8500 153,722 13.066,405 4,279,181 1,223,577 428,345 75,015 19,072,523 363,51823 2037 1.00% $0.8500 155,260 13,197.069 4,289,879 1,226,636 428,350 75,015 19,216,948 366,300

Page 2

ROBERTSON COUNTY, TENNESSEECURRENT FINANCIAL PLAN

County General Debt Service Fund 151

4/21/2014 1:19 PM

1 2 3 4 s 5 7 • 9 ,. 11 12 13 14 ,. ,.W/o Ind. Park CURRENT AND PROPOSED DEBT SERVICE PAYMENTS AND COSTS FUND BALANCES

Yr. Fiscal Proj- Current $24,000,000 <•••- Additional Bond Issue Total Principal Prln & Funding Excess Estimated Estimated PercentNo. Year ected Debt Service Principal Possible Interest Total Current Percent Int. & Sources Revenues Beginning Ending of

CPT s 0.8500 Prop. and Related Payments Interest Payments New and Paid other Exhibit Over Fund Fund Annual

PPT $ 0.8500 Tax Costs Rates for Bond New D.S. e (Under) Balance Balance Require-PTT s Rate Exhibit A 1 3/1112014 Fiscal Year Issue Debt 0/0 Paid Expenditures menta

PT Transfer II I

2014 0.8500 15,905.133 15,905.133 6.41% 7.242% 16,209,402 304,269 3,619,540 3,923,809 24.67%1 2015 0.8500 15,565,829 0.40% 688,198 688,198 16,254,027 12.83% 14.643% 16,327,403 73,376 3,923,809 3,997,186 24.59%2 2016 0.8500 14,056,359 1,000,000 0.50% 698,030 1,698,030 15,754,388 19.15% 21.817% 16,446,486 692,098 3,997,186 4,689,284 29.76%3 2017 0.8500 14,050,861 1,000,000 0.70% 693,030 1,693,030 15,743,890 25.68% 28.985% 16,566,663 822,772 4,689,284 5,512,056 35.01%4 2018 0.8500 13,950,910 1,000,000 0.95% 686,030 1,686,030 15,636,940 32.37% 36.105% 16,687,942 1,051,003 5,512,056 6,563,059 41.97%5 2019 0.8500 14,104,237 1,000,000 1.33% 676,530 1,676,530 15,780,766 39.42% 43.291% 16,810,336 1,029,570 6,563,059 7,592,629 48.11%6 2020 0.8500 11,462,279 1,100,000 1.71% 663,230 1,763,230 13,225,509 45.12% 49.313% 16,933,855 3,708,347 7,592,629 11,300,976 85.45%7 2021 0.8500 11,371,820 1,110,000 2.12% 644,420 1,754,420 13,126,239 50.99% 55.290% 17,058,511 3,932,272 " ,300,976 15,233,247 116.05%8 2022 0.8500 11,268,632 1,130,000 2.45% 620,888 1,750,888 13,019,520 57.02% 61.218% 17,184,314 4,164,794 15,233,247 19,398,041 148.99%9 2023 0.8500 11,321,668 1,160,000 2.70% 593,203 1,753,203 13,074,871 63.30% 67.171% 17,311,275 4,236,404 19,398,041 23,634,446 180.76%

10 2024 0.8500 11,262,965 1,190,000 2.85% 561,883 1,751,883 13,014,848 69.81% 73.097% 17,439,407 4,424,559 23,634,446 28,059,004 215.59%11 2025 0.8500 11,162,760 1,225,000 3.05% 527,968 1,752,968 12,915,727 76.52% 78.978% 17,568,719 4,652,992 28,059,004 32,711,997 253.27°/012 2026 0.8500 9,484,554 1,260,000 3.25% 490,605 1,750,605 11,235,159 82.44% 84.094% 17,699,225 6,464,067 32,711,997 39,176,06313 2027 0.8500 9,455,458 1,300,000 3.35% 449,655 1,749,655 11,205,113 88.59% 89.196% 17,830,936 6,625,822 39,176,063 45,801,88614 2028 0.8500 5,342,310 1,345,000 3.50% 406,105 1,751,105 7,093,415 92.40% 92.426% 17,963,862 10,870,447 45,801,886 56,672,33315 2029 0.8500 3,277,770 1,390,000 3.65% 359,030 1,749,030 5,026,800 95.06% 94.715% 18,098,018 13,071,217 56,672,333 69,743,55016 2030 0.8500 347,373 1,445,000 3.75% 308,295 1,753,295 2,100,668 95.97% 95.671% 18,233,413 16,132,745 69,743,550 85,876,29517 2031 0.8500 350,001 1,495,000 3.85% 254,108 1,749,108 2,099,108 96.92% 96.627% 18,370,061 16,270,953 85,876,295 102,147,24818 2032 0.8500 352,653 1,555,000 3.95% 196,550 1,751,550 2,104,203 97.91% 97.585% 18,507,974 16,403,771 102,147,248 118,551,02019 2033 0.8500 355,331 1,615,000 4.05% 135,128 1,750,128 2,105,458 98.93% 98.544% 18,647,164 16,541,706 118,551,020 135,092,72520 2034 0.8500 358,034 1,680,000 4.15% 69,720 1,749,720 2,107,754 100.00% 99.503% 18,787,644 16,679,890 135,092,725 151,772,61521 2035 0.8500 360,763 4.25% 360,763 100.00% 99.668% 18,929,426 18,568,663 151,772,615 170,341,27822 2036 0.8500 363,518 4.30% 363,518 100.00% 99.833% 19,072,523 18,709,005 170,341,278 189,050,28223 2037 0.8500 366,300 4.35% 366,300 100.00% 100.000% 19,216,948 18,850,649 189,050,282 207,900,931

24,000,000 9,722,600 33,722,600

Net Interest Rate ---> 3.451% Page 3

I FUND 151

10-Year Treasury Yields (2013 - 2014 to Date)3.2% ,-------------------------------------------------------,

2.8%

2.6% i--·······-··-_·-················-_··················· '-". i

2.4% t- ~ - .. ------ -.-----..- -1.- ---..--.-..--.- -.---.- --- - - - --.---- ---- ----------- -' - -.-j

2.2% -l- _-- - -.--.-.-.--.- -.-...tI j._ - -..,.,."._.-".--.--------.-.--. -.- --.--.. - - - --- ·1

2.0% +-~··········....lrllq·······..

1.8%

1.6%

"".::- ~'" ~'" ""....'" ~'" ~ ""~ ~ ~'" ~ ~ ~ ~ ""~ ""~ ""~~'V ~"" ~"" ~'V ~"" ~"" ~'V ~"" ~"" ~"" ~"" ~"" ~ ~'V ;f;'V ~'V

....-v'" v"''' -v"''tJ "'~'11>",,,,, .,~" ~'" ,,~" """,,, .,~"" '[!>" ~"" fJ" v'" -v'" "'~...."" ...." ....'"

Source: BloombergProfessional Service: GTI0 GOVT Index

Adcock Requested a Motion at: 7_15_10 PMGarner Seconded the Motion at: 7 15 10 PM

RESOLUTION 042114035 A RESOLUTION AUTHORIZING THE ISSUANCEOF GENERAL OBLIGATION BONDS IN THE AMOUNT OF 24,000,000 FORCRESTVIEW AND WATAUGA SCHOOLS

Time of Vote: 7 42 33 PMType of Vote is Custom: 13 YEA Votes Needed to PassNote: Abstain Votes are NOT counted.

Chair Bradley does not voteAdcock voted: YBaggett voted: YBowens voted: YBrown voted: YBryant voted: YCorbin voted: YCouts voted: YDiOrio was AbsentDorris voted: NDugger was AbsentEden was AbsentFarmer voted: YGarner voted: YGray was AbsentGregory voted: YHaley voted: YJackson voted: NJones voted: YMoore voted: YRay was AbsentSpears voted: YStubblefield voted: NYogic voted: YWilson voted: Y

Passed (16 Y - 3 N - 5 Absent)

042114036RESOLUTION NO. _

RESOLUTION AUTHORIZING EXECUTION AND/OR ACCEPTANCE OF ACONTRACT OR GRANT BETWEEN THE STATE OF TENNESSEE DEPARTMENTOF TRANSPORTATION AND ROBERTSON COUNTY, TENNESSEE FOR WASTE

AND LITTER REMOVAL

WHEREAS, pursuant to applicable sections of the Tennessee Code Annotated, the

Commissioner of Transportation is authorized to make grants to counties for the purpose of

funding programs for the collection of litter and trash; and

WHEREAS, Robertson County proposes to submit a plan for executing a contract offered

by the State of Tennessee Department of Transportation for collection of waste and litter; and

WHEREAS, said contract provides for grant of funds to Robertson County for contract

purposes, which is in the interest of said County, a copy of said grant budget attached hereto as

Exhibit "A";

NOW, THEREFORE, BE IT RESOLVED by the Robertson County Commission,

meeting in regular session this the 21st day of April, 2014, that a contract and/or grant agreement

by and between the State of Tennessee Department of Transportation and Robertson County,

Tennessee for collection of waste and litter in the period of July l , 2014 through June 30, 2015 as

set forth herein is hereby approved; and

BE IT FURTHER RESOLVED that the County Mayor and/or the County Sheriff is

authorized and empowered to execute said contract on behalf of Robertson County, Tennessee.

RESOLUTION NO. 042114036

Passed this the 21st day of April, 2014, to be effective on the date of its passage, the

ff -t'r~COUNTY MAYOR

ATTEST:

\VX~"-' Lh. A~l~SUSAN K. ATCHLEYCounty Clerk

ATTACHMENT 1

Page 1

GRANT BUDGET

County of

The grant budget llne-ltam amounts below shall be applicable only to expense incurred during the followingApplicable Period: BEGIN: July 1, 2013 ENO: June 30, 2014

POUCYOJ Object

EXPENSE OBJECT LINE-ITEM CATEGORY 1GRANT GRANTEE TOTAL PROJECTUno-stom CONTRACT PARTICIPATION

Rllfateru::G

U Salaries. Benefrts & Taxes 21,000 0.00 21,000

4.15 Professional Fee, Grant & Award 2 0.00 0.00 0.00

5,6,7, B. Supplies. Telephone, Postage & Shipping,9,10 Occupancy, Equipment Rental & Maintenance,

Printing & Publications 14,600 0.00 14,600

11.12 Travel, Conferences & Meetings 0.00 0.00 0.00

13 Interest2 0.00 0.00 0.00

,. Insurance 0.00 0.00 0.00

'6 Specmc Assistance To Individuals 0.00 0.00 000

" Depreciation,

0.00 0.00 0.00

16 OtherNon-Personnel2 11,800 0.00 11,800

ao Capital Purchase,

0.00 0.00 0.00

za Indirect Cost 0.00 0.00 0.00

" In-Kind Expense 0.00 0.00 0.00

as GRANO TOTAL 47,400.00 0.00 47,400.00

1 Eachexpense object line-item shall be defined by the Departmentof Finance and AdminIstration Polley 03, Un;(ormReporting Requirements and Cost Allocation Plans for Subrecipifmts of Federal and State Grant Monies. Appendix A,(postedon the Internet at: http://VM'W.stale,tn.uslfinanceJactldocumentslpollcy3.pdf).

2 Applicable detail follows this page if ffne-ftem is funded,

GRANT BUDGET LINE-ITEM DETAIL:

ATTACHMENT 1Page 2

PROFESSIONAL FEE, GRANT s AWARD AMOUNT

EDUCATION 11,aoo.oo

TOTAL 11,800,00

.._---_ .._------_ ..~.- ._-"_.. -

TOTAL GRANT AMOUNTEDUCATION (MUST BE SPENT ON I

=AMOUNT LEFT FORSALARIES AND BENEFITS,DIRECT COST, ORTO ADDMORE FUNDS TOEDUCATION

$47,400.00 .$11,800.00 .

$35,600.00

74ROBERTSON COUNTY 2014-2015 LGPPROJECT NO. 74- 500-4015-04CONTRACT EDISON NO. ZlSLIT074EDISON VENDOR NO. 2744

ifI)l--i

\~VJl))

Jones Requested a Motion at: 7_43_51 PMCouts Seconded the Motion at: 7 43 51 PM

RESOLUTION 042114036 RESOLUTION AUTHORIZING EXECUTIONAND/OR ACCEPTANCE OF A CONTRACT OR GRANT BETWEEN THESTATE OF TENNESSEE DEPARTMENT OF TRANSPORTATION ANDROBERTSON COUNTY, TENNESSEE FOR WASTE AND LITTER REMOVAL

Time of Vote: 7 44 21 PMType of Vote is Custom: 13 YEA Votes Needed to PassNote: Abstain Votes are NOT counted.

Chair Bradley docs not voteAdcock voted: YBaggett voted: YBowens voted: YBrown voted: YBryant voted: YCorbin voted: YCouts voted: YDiOrio wasDorris voted: YDugger wasEden wasFarmer voted: YGarner voted: YGray wasGregory voted: YHaley voted: YJackson voted: YJones voted: YMoore voted: YRay wasSpears voted: YStubblefield voted: YVogle voted: YWilson voted: Y

Passed (19 Y - 0 N - 5 Absent)

Absent

AbsentAbsent

Absent

Absent

ENSCIENCE, INC.7680 Highland Lick Rd.Lewisburg, KY 42256

Contract Proposal

-----::J~.

;J~

Ji;J'?~

Telephone(270)-784-6919

Date:

Submitted To:

Project:

Dear Mayor Bradley:

April 9, 2014

Hon. Mayor Howard R. BradleyRobertson County MayorRoom 108 CourthouseSpringfield, TN 37172

Black Fly (Simuliidae) Planning, Mapping and Application ofVectobac® 12AS (Bti) in the Red River Drainage Systems Located inRobertson County, Tennessee.

Enscience, Inc. is pleased to have the opportunity to provide you with the services relating to theproject. Please find the following summary of the project and estimated rates for the project:

Summary of Activities

• Mapping of the streams in Robertson county will take place prior to and during theapplication of the Vectobac® l2AS. Treatment sites will be selected based on thepresence of adequate riffle areas in the Red River.

• Discharge will be calculated and Vectobac l2AS will be applied at a range of 12.5-25PPM as recommended by Dr. Robert A. Fusco of Valent BioSciences Corporation.

• Enscience personnel will work with the personnel from the Tennessee Department ofEnvironment and Conservation and others in order to obtain the optimum treatmentresults for the project.

• Following the initial treatment with Vectobac® l2AS Enscience will perform a carryevaluation (mortality study) of the streams in order to determine the carry ofthe riverand ultimately the success of treatment. It is important to determine the initial success ofthe treatment for future planning of subsequent applications.

• Enscience will provide transportation equipment in the form of trucks, trailers, aquaticcraft and utility vehicles as needed for the project. Additional personnel protectiveequipment will include waders, gloves, boots etc.

The results of the treatment and project summary will be provided in a written report followingthe initial treatment. Personnel will be protected by the use of appropriate personnel protectiveequipment (PPE) in order to insure that no exposures for the related tasks are exceeded.

Please have an authorized representative sign the following contract acknowledging yourfirms acceptance of our general plan and proposal cost. To expedite this project, we willregard this acceptance as Notice to Proceed for purposes of initial staging. Ifyon have anyfurther questions regarding this matter please contact me at (270) 784-6919.

Implementation Costs

Daily Costs Including Personnel and Eqnipment

Vectobac 12AS (Valent Biosiences Corporation)

Sincerely,

.s:»Daily Cost Estimate $750.00 X Ie ~ 15DCJ /"ANot to Exceed 6 Calendar Days J

Standard Labor Rate Weekdays

$32.00fGallon @ 100 Gal. $3200.00 .+<-XJ

~. 17co--­L_-~'

rI.! &)01, .

MarkT.i; Digitallysigned by Marl<. T.Hopkins

H0 Pkln5\ON: cn=MarkT. Hopkins, ceenscrence, lnc., ou=Ensci.mce,

. .~lnc••email=Mark@Ensciencelnc.com.(...USDate: 2014.04.0910:07:20 -05'00'

Mark T. Hopkins, CHMMPresidentEnscience, Inc.

CLIENT:

TITLE:

DATE:

2

Adcock Requested a Motion at: 7_45_55 PMGarner Seconded the Motion at: 7 45 55 PM

BLACK FLY TREATMENT PROGRAM LOCATED IN ROBERTSON COUNTY

Time of Vote: 7 50 53 PMType of Vote is Custom: 13 YEA Votes Needed to PassNote: Abstain Votes are NOT counted.

Chair Bradley does not voteAdcock voted: YBaggett voted: YBowens voted: YBrown voted: NBryant voted: NCorbin voted: YCouts voted: NDiOrio was AbsentDorris voted: NDugger was AbsentEden was AbsentFarmer voted: yGarner voted: NGray was AbsentGregory voted: NHaley voted: NJackson voted: NJones voted: YMoore voted: NRay was AbsentSpears voted: NStubblefield voted: YVogle voted: NWilson voted: N

Failed (7 Y - 12 N - 5 Absent)