Dec. 11 2023 Mitchell Board of Education Agenda

MITCHELL SCHOOL DISTRICT NO.
17-2
BOARD OF EDUCATION AGENDA
Regular Board Meeting
Monday, December 11, 2023
L.B.Williams Elementary – 5:30 P.M.
ITEM SUMMARY/JUSTIFICATION RECOMMENDED ACTION

I. Opening
A. Call Meeting to Order
B. Pledge of Allegiance
C. Roll Call: Aslesen, Everson, Flood, Olson, Ruml
D. Determination of Quorum
E. Approval of Agenda:
MOTION TO AMEND:
MOTION TO APPROVE
II. Consent Agenda:
A. Board Minutes MOTION TO APPROVE
B. Claims
C. Personnel
D. Open Enrollment
E. Conflicts of Interest
III. Public Commentary BOARD INFORMATION
IV. Board Consideration of Adoption of Resolution Authorizing the Execution, MOTION TO APPROVE
Terms, Issuance, Sale, and Payment of Limited Tax General Obligation
Certificates for the Mitchell High School Construction Project.
V. Board Consideration of Adoption of Resolution Authorizing the Execution, MOTION TO APPROVE

Terms, Issuance, Sale, and Payment of General Obligation Bonds for
Mitchell High School Construction Project.
VI. Board Consideration to Enter into Executive Session for the Purpose of MOTION TO APPROVE
“Preparing for contract negotiations or negotiating with employees or employee
representatives.” SDCL 1-25-2.(4).
VII. Board Consideration to Approve School District and MCEA Negotiations. MOTION TO APPROVE
VIII. Board Consideration to Approve MEA Memorandum of Understanding. MOTION TO APPROVE
IX. Board Information on Class Caps. BOARD INFORMATION
X. Board Member Report BOARD INFORMATION
XI. Superintendent Report BOARD INFORMATION
Should Board Members wish to tour any part of L.B. Williams Elementary School,
Mrs. Roth will be available to provide that. Members of the public would be welcome
to accompany any such tours as well.
XII. Adjourn
MITCHELL
L SCHOOL L DISTRICTT NO.. 17-2
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1
MINUTES OF THE REGULAR MEETING
MITCHELL SCHOOL DISTRICT 17-2
November 13, 2023
The regular meeting of the Board of Education was called to order by President Deb Olson at
5:30 PM at the Gertie Belle Rogers Elementary, 1301 N Kimball St, Mitchell South Dakota,
Davison County.
The Pledge of Allegiance was recited.
Roll call of members present: Deb Olson, Deb Everson, Brittni Flood, Terry Aslesen, and Shawn
Ruml. Absent: None
Others present: Dr. Joe Childs, Superintendent, and Theresa Kriese, Business Manager.
The school board recognized the Boys golf team for the season 5th place team finish, the Girls
tennis team for the 3rd place team finish and the Girls soccer team for state runner up finish.
Congratulations to all three teams for their accomplishments and success.
Motion #355353
Motion by Aslesen, seconded by Everson to approve the agenda with the following changes.
Move items XIII and XIV in front of item X and add an executive session item for purpose of
“Discussing the qualifications, competence, performance, character or fitness of any public
officer or employee or prospective public officer or employee. The term “employee” does not
include an independent contractor.” SDCL 1-25-2(1) Motion carried.
Motion #355354
Motion by Ruml, seconded by Everson to approve the consent agenda items of claims,
personnel items, return to learn protocols, and the minutes of the October 10, 2023, board
meeting. These minutes had been sent to the Daily Republic in unapproved form all in
accordance as per SDCL 13-8-35.
K12 Certified: Baker Harr, Head Wrestling Coach, $6,290, effective 2023-24 school year, Aubrey
Dehaai, 7th Grade Asst. GBB Coach,$1,874, effective 2023-24 school year, Jessica Phillips, 8th
Grade Asst. GBB Coach, $1,874, effective 2023-24 school year, Trevor Krugman, Head 7th GBB,
$2,207, effective 2023-24 school year, Wes Morgan, Freshman GBB, $3,726, effective 2023-24
school year, Anthony DeLaTorre, Head 7th BBB, $2,207, effective 2023-24 school year, Kailee
Hanglefelt, Asst. Gymnastics, $1, effective 2023-24 school year, Gracie Kattner, Asst
Gymnastics, $3,323, effective 2023-24 school year. K12 Classified: Brynn Hartje, LO Para,
$16/hrs., 7 hrs./day, effective October 27, 2023, Abigail McDaniel, GBR Para, $16.75/hrs., 7.25
hrs./day, effective November 20, 2023. K-12 Transfer: Demetrius Wells, GBR Para to LBW Para,
effective October 27, 2023, Patti Brown, GBR Para to MMS Para, 7.25 hrs./day, effective
November 20, 2023. Resignation: Shannon Dolezal, MMS Para, effective October 23, 2023,
Andrew Everson, Head Wrestling Coach, effective 2023-24 school year, Tom Starr, Wrestling
Coach, effective 2023-24 school year. Change in Hours: Taramee Paulson, Para from 7 hrs./day
to 7.25 hrs./day, effective October 23, 2023. MTC New Hire: Madison O’Connor, Admissions
Rep, $31,301 ($50,000 prorated to 154 days), effective November 14, 2023, Ashley Alacron, Rad
Therapy Adjunct, $3,600, effective Fall 2023 Semester.
Motion carried.
During public commentary a community member addressed the support of those involved in
the Mitchell Baseball Association legal issues.
2
Motion #355355
Motion by Aslesen, seconded by Everson to approve a bid for MTC’s Dodge Ram 1-ton truck
purchase from Iverson Auto, Mitchell, SD in the amount of $23,250 plus a trade-in of a 2016 For
F450 pickup. Motion Carried.
Motion #355356
Motion by Everson, seconded by Flood to approve MTC surplus property. 8-Acer Computer
Monitors, 2-HP Computer Monitors, 5-Dell Computer Monitors, 1-Sony Computer System, 1-
Dell Laptop Dock, 13-Dell Laptops, 5-Gateway Laptops, 30-HP Laptops, 1-ProStar Laptop, 41-
Thermaltake Tower PC, 8-Generic Tower PC, 26-Thermaltake Tower PC, 4-Dell Tower PC, 3-Dell
Tower PC, 28-Cicso Routers, 1-Fortinet Firewall, 29-Cisco Firewall, 2-Sonicwall Firewall, 12-Cisco
Switches, 1-Allied Tales Switch, 1-3Com Switch, 18-Cisco Routers, 3-ADTran routers, 18-Data
Transfer Switches, 6-HP Servers, 2-Cisco Servers, and 1-Voom Disk Duplicator. Motion carried.
Motion #355357
Motion by Flood, seconded by Everson to approve the purchase of a John Deere 3039R Utility
Tractor from C&B Operations, LLC for $68,250.25 through Sourcewell Contract 011723-JDC.
Motion carried.
Motion # 355358
Motion by Aslesen, seconded by Everson to approve Policy 222 upon second reading with the
following change. The last sentence of the policy should read “School board members shall not
use electronic communication to discuss a consensus, reach a consensus, majority opinion, or
unofficial decision, related to school district business.” Motion carried.
Motion # 355359
Motion by Ruml, seconded by Flood to approve the employment of 1.0 FTE in the position of
social worker and attendance liaison. This position will be supported by a grant received to
address chronic absenteeism in schools. Motion carried.
Motion #355360
Motion by Everson, seconded by Flood to approve the district goals as presented. 1) Conduct a
comprehensive feasibility study to assess the viability of establishing a preschool within the
Mitchell School District; 2) Implement a comprehensive mental health support program to
address the well-being of students in the Mitchell School District; 3) Implement a targeted
absenteeism reduction program; 4) Enhance the Mitchell School District’s online presence.
Motion carried.
Dr. Childs presented a program aimed at providing an enhanced teaching opportunity for
student teachers. The student teacher will be allowed and compensated to substitute in the
classroom one day per week during their student teaching experience.
Motion # 355361
Motion by Flood, seconded by Aslesen to approve the 4 to 1 student teaching opportunity.
Motion carried.
Board members reported on meetings they attended since the last board meeting.
During the superintendent’s report, Dr. Childs recognized Longfellow Elementary School for
their award as a Nationally Distinguished School. There are only two schools in each state to
receive this award and 50 across the nation. Keloland Television recognized Mitchell High
School as one of the top high schools in South Dakota.
3
Motion #355362
Motion by Everson, seconded by Flood to enter into executive session for the purpose of
representatives.” SDCL 1-25-2. (4). Motion carried.
President Olson moved the board out of executive session at 7:05 p.m.
Motion #355363
Motion by Flood, seconded by Everson to enter into executive session for the purpose of
“Discussing the expulsion, suspension, discipline, assignment of or the education program of a
student.” SDCL 1-25-2.(2). and “Discussing the qualifications, competence, performance,
character or fitness of any public officer or employee or prospective public officer or employee.
The term “employee” does not include and independent contractor.” SDCL 1-25-2.(1). Motion
carried.
President Olson moved the board out of executive session at 8:09 p.m.
Motion #355364
Motion by Olson, seconded by Aslesen to deny the student appeal. Motion carried.
Motion # 355365
Motion by Everson, seconded by Flood to adjourn the meeting at 8:11 p.m. Motion carried.
Beginning Balance, $20,680,452
General Fund $7,566,132, Capital Outlay $4,819,798, Special Education $1,381,217, Mitchell
Tech $945,861, Food Service $1,632,412 Driver’s Ed ($5,927), T/A $2,768,678, James Valley
Coop ($100,975), Capital Projects Fund ($3,360,868)
Total Revenue, $12,288,785
General Fund $1,579,974, Capital Outlay $133,113, Special Education $222,253, Mitchell Tech
$4,467,762, Food Service $174,281, Driver’s Ed $-0-, T/A $711,402, James Valley Coop $-0-
Capital Projects Fund $5,000,000
Total Expenditures, $11,132,810
General Fund $2,059,689, Capital Outlay $113,154, Special Education $545,009, Mitchell Tech
$5,171,312, Food Service $163,090, Driver’s Ed -0- T/A $533,701, James Valley Coop $58,117,
Capital Projects Fund $2,488,738
Ending Balance, $16,559,303
General Fund $7,086,418, Capital Outlay $4,839,757, Special Education $1,058,461, Mitchell
Tech $243,310, Food Service $1,643,602 Driver’s Ed ($5,927), T/A $2,49,379 James Valley Coop
($159,092), Capital Projects Fund ($1,093,006)
4
Mitchell School District Board Report-10009 Page: 1
12/07/2023 03:32 Pm 12.11.2023 Bills Forum User Id: 5928
Vendor Name Invoice Description Amount
Checking Account Id 1 Fund Number 10 General Fund
A & B Business Solutions Contracted Services 93.38
A Ox Welding Supply Inc Welding Supplies 105.23
A T & T Mobility / First Net Cell Phone Usage 423.44
Aberdeen Central Debate Debate Entry Fees 500.00
Accu Cut Classroom Supplies 700.00
Adrian, Amber Program Supplies 195.00
Ag Parts Worldwide Inc Technology Supplies 191.40
Al's Engraving Signs 41.60
Americinn Ft Pierre Lodging 101.99
Andersen, Maddie Debate Judge 200.00
Anderson, Melissa Fall Music Supplies 274.36
Arctic Refrigeration, Inc. Mmc Outside Walk In Freezer 1,821.40
Bender's Sewer & Drain Drain Cleaning-High School 1,375.00
Berg, Renee Amazon Order 89.97
Big E Auto Service Vehicle Service-03 Suburban 1,911.19
Brad's Instrument Repair Instrument Maintenance 380.99
Break Time Portables #1 Portable Toilet Rental 160.00
Brookings Optimist Jazz Fest Entry Fee 200.00
C & B Operations Llc Equipment Repairs 5,150.51
Capital One Program Supplies 473.30
Chada, Dodie Gymnastics Judge 171.92
Christian, Jenny Gymnastics Judge 192.32
Churchill, Manolis Legal Services 1,694.25
City Of Mitchell Water,Sewer 998.95
Ck Bicycles & Locks Llc Padlocks 129.00
Clement, Katelynn Cheer Supplies 126.26
Clubhouse Hotel & Suites Lodging 162.92
County Fair, Inc 000000003034 1,085.07
Dakota Pump Inc. Gbr Hvac Float 1,199.19
Daktronics, Inc. Case1570895 Sound System 175.00
Darrington Water Conditioning Water Conditioning 241.74
De La Torre, Anthony Nfhs Reimbursement 70.00
Decker Equipment O/M Supplies 92.45
Demco Inc Library Supplies 93.10
Ed's Pet World Program Supplies 15.98
Ehs Show Choir Registration Fee 400.00
Emc Insurance Co Property/Liability Ins. 1,304.00
Farmers Alliance 103623 - Unapplied Credit 150.10
First National Bank Supplies 15,210.42
Foreman Student Transportation 46,285.58
Grabenstein, Heather Stoage Boxes 24.42
Graham Tire Company Used Tire 50.00
Harve's Sport Shop Athletics Supplies 1,389.00
Herman, Michaela Delta Math Subscription 145.00
Hillyard/Sioux Falls Custodial Supplies 5,079.05
Honeywell International Inc Automation Charges 10,777.78
Horan, Catherine Mileage 33.15
Huber, Lloyd Piano Tuning-Pac 90.00
I X L Learning Subscription Renewal 563.00
Independent Viking Glass Inc Door Repair - Lbw 829.04
Innovative Office Solutions Program & Office Supplies 817.49
Inspiring Young Learners, Llc Subscription 109.85
Interstate All Battery Center Batteries 271.70
J.W. Pepper & Son, Inc. Music 907.38
Jones Supplies Custodial Supplies 5,637.65
Kelly, Patricia Colony Mileage 143.08
Krohmer Plumbing Service Call - Sh Boiler & Circ 3,169.51
5
Krohmer Plumbing Pump 3,169.51
Lofgren, Kimberly Debate Judge 200.00
Logan Luxury Theatres Corp Theatre Rental 1,000.00
Mackin Ed Resources Library Books 2,356.02
Make It Mine Design Conf. Room Wall Decal - Mctea 2,312.22
Mayer, Jennifer Ncte Confrence Meals 170.69
Mcleods Office Supply Printed Material & Supplies 2,830.09
Mebius Nursery Winterized Irrigation System 600.00
Menards O/M,Program Supplies 1,562.13
Midco Business Phone Services - 1620 E 3rd 268.56
Miedema Sanitation Inc Trash Removal 3,261.00
Miller, Cheryl Subscription-Book Widgets 147.00
Mitchell Music Boosters Sight Reading Factory 191.20
Morgan, Teresa World Language Supplies 73.36
Murphy, Kathryn Program Supplies 25.00
Musser, Jeff Program Supplies 14.88
Muth Electric Inc Electrical Service,Supplies 2,707.61
My Place - Aberdeen Lodging 732.00
Nebraska Air Filter Inc Air Filters-Longfellow 479.96
Nepstads Flower Shop Flowers 48.00
Neugebauer, Tricia Program Supplies 104.79
North, Zackery Debate Judge 200.00
Northeast Annual Jazz Festival Entry Fee 150.00
Office Advantage, The Staples - Lbw 674.95
Office Of Weights & Measures Scale Inspection 56.00
Ortmeier, Adam Debate Judge 460.00
Papillion La Vista High School Registration Fees 350.00
Parks, Bill Pac Supplies 1,072.23
Performance Foodservice Food Supplies 8,172.19
Pizza Ranch Pizza 113.40
Popp Binding And Laminating Laminating Flim 169.98
Popplers Music Store Music Supplies 191.81
Premier Pest Control Pest Control 675.00
Qualified Presort Service Llc Postage 218.90
Roosevelt Debate Debate Entry Fee 105.00
Roudabush, Karen National Ffa Motels 650.32
Runnings Supply, Inc. Account Credit Balance 584.26
Rylance, Leslie Ncte Conference Meals/Travel 437.41
Sanchez, Hermelnda Mileage 10.71
Schmitt Music Music 134.97
School Specialty Llc Classroom Supplies 406.02
Schroeder, Lisa Gymnastics Judge 140.30
Scott Supply Co Inc Repair Parts 109.16
Sdctm/Sdsta Jpdc Registration 460.00
Sdhsaa Rule Books 62.00
Sdmea % Kimberly Bogart Entry Fee 15.00
Sewright, Annette Colony Mileage 325.00
Shannon, Marica Program Supplies - Walmart 31.38
Sherwin Williams Paint Supplies - Pac 196.73
Smith, Gretchen Ncte Conference Meals 166.61
Starr, Kristina Colony Mileage 325.00
Sun Gold Sports Llc Program Supplies 866.00
Tessier's Inc Service Call/High School 232.58
Tessman Company, The Grounds Supplies 1,912.50
Thunes True Value O/M Supplies 71.22
Triotel Communications Inc Telephone/Colonies 123.47
Tyler, Amy Ncte Confrence Meals 193.93
Vatter-Miller, Melissa Musical Supplies 31.93
6
Vermillion Music Boosters Competition Entry Fee 300.00
Warne, Lori Gymnastics Judge 148.76
Washington High School Chior Best Of Show Registration Fee 500.00
Washington High School Debate Debate Entry Fee 335.00
Wede, Keatyn Debate Judge 100.00
Whitledge, Christina Mileage 62.73
Zirpel, Teresa Ell Family Supplies 19.00
Zirpel, Teresa Classroom Activity Supplies 9.29
Fund Number 10 154,879.36
Checking Account Id 1 Fund Number 21 Capital Outlay
Accu Cut Classroom Supplies 755.00
Brad's Instrument Repair Music Equipment 1,183.93
C & B Operations 2022 Utility Tractor Per Bid 68,250.25
First National Bank Qzab Payment 21,500.00
I X L Learning Subscription Renewal 1,264.00
Mcleods Office Supply Counselors Office Furniture 1,729.26
Office Advantage, The Printing Contract 3,226.90
Time Clock Plus Software License 261.80
Us Bank St Paul Debt Service 492,440.00
Xerox Financial Services Copiers Lease 1,045.96
Checking Account Id 1 Fund Number 22 Special Education
Sped Recipient Mileage 146.88
Career Connections Contracted Services 2,973.90
Children's Care Hospital Tuition 11,560.00
Children's Home Society Inc. Tuition 676.65
Division Of Rehab Services Pact Grant Match 43.10
First National Bank Supplies 403.46
Hieb, Samantha Mileage 92.11
Innovative Office Solutions Program & Office Supplies 224.71
Isi Llc Interpreter Services 5,950.00
Sped Recipient Parent Mileage 146.88
Larson, Karin Professional Services 1,662.50
Life Quest Tuition 11,660.00
Mcleods Office Supply Printed Material & Supplies 65.90
Ncs Pearson Interactive Standard License 285.00
Sd Dept Of Human Services Therapy,Residential Care 18,618.26
Uher, Jeanette Program Supplies 57.93
Western Psychological Services Test Materials 66.00
Checking Account Id 1 Fund Number 23 Post Secondary
44 Interactive, Inc. Advertising 39,318.96
A Ox Welding Supply Inc Welding - Argon 943.84
Adtran, Inc Mosaic One, Enhanced Software 4,000.02
Advance Auto Parts Spark Plug 15.50
Agri Spray Drones, Llc Spray Drone 30,478.00
Al's Engraving Women For Success Name Badge 6,652.85
Arctic Refrigeration, Inc. New Ice Machine 5,548.66
Automatic Building Controls Horn Strobe - Ceiling Strobe 1,068.37
Avera Occupational Medicine Drug Test/Screening 447.00
Avera Queen Of Peace Mlt - Butterfly Needles 98.76
Basin Electric Power Coop Lease/Material/Operative Chgs 3,361.81
Big E Auto Service Mti 23 - 23 Chevrolet Silverado 159.91
Big Friend Little Friend Winter Escape Lane Sponsorship 350.00
7
Mitchell Area Winter Escape Lane Sponsorship 350.00
Blais Microscope Company Microscope Inspection & Repair 1,170.00
Boston Imaging Samsung Repair Quote - Rad Tech 3,200.00
Brink, Bobbi Milage Reimbursement 324.37
Brooks Oil Company Inc Butler Building - Furnace Oil 481.00
Buckingham Mfg. Substation - Chin Strap 202.28
Bultje, James Memorial 50.00
C & B Operations Llc New Brushes For Broom 2,560.56
Carquest Auto Parts Distributer Cap, Toro, Ignition 123.23
Churchill, Manolis Legal Services 977.85
Cintas Corp Rugs 1,178.04
City Of Mitchell Trees 73.28
Ck Bicycles & Locks Llc Cut Keys 8.00
Cole Papers Inc Drain Hose 28.63
Concordance Health Solutions Cassette Lipid Profile 352.55
County Fair, Inc Substation Advisory 1,316.77
Crazy Lady Consulting, Llc Consulting Services - November 1,841.80
Creative Printing Rodeo Banner 353.94
Culver's Mitchell Rad Tech - Custard 160.00
Darrington Water Conditioning Salt 38.49
Digital Compliance Hipaa - Rad Tech 209.79
Division Of Motor Vehicles 24 Prestige Trail 111.00
Domino's/Mitchell Admissions - High Tech Camp 653.23
Echo Group Inc Battery, Conduit, Band Saw 2,678.68
Elite Unmanned Llc Drone Dock 39,599.00
Elo Prof Llc Foundation Qbo Fees - September 96.00
Emc Insurance Co Property/Liability Ins. 1,304.00
Experian Credit Bureau Services 22.00
Farmers Alliance Forklift Fuel 1,668.72
Florey, Bethany Rapid City Hs Visits 160.00
Flynn, Deborah Slpa Lab Supplies 247.88
Heckel Photography Photography 2,545.55
Herrmann, Lisa Jrcert Unannounced Site Visit 32.00
Hi Media Advertising 2,083.33
Hillyard/Sioux Falls Custodial Supplies 7,663.95
Independent Viking Glass Inc Limestone Caulk 26.05
Innovative Office Solutions Diesel Podium 6,092.97
Interstate All Battery Center Floor Scrubber Batteries 767.85
Iverson 2024 Ram 3500 23,250.00
James Valley Landscape Sprinkler Repairs 431.73
Jlg Architects Tech Center Auditorium Remodel 950.00
John Henry Foster Minnesota Inc Air Compressor Maintenance 1,422.18
Johnson Controls Hot Water Pump Repair 8,171.44
Johnstone Supply Lab Hv-151 1,010.00
Jrcert Rad Therapy 2024 Annual Fee 4,900.00
Krcil, Amber Rapid/Spearfish Clinical Visit 75.00
Krohmer Plumbing Repair Hot Water Issue 1,846.66
Kulm, Heather Northern High School Visit Pt2 160.00
Lamar Companies Advertising 1,758.00
8
Lift Solutions, Inc Diesel:Pallet Racking Down Pymt 7,376.53
M & M Productions, Llc Outgate Sponsor 1,000.00
Mack Metal Sales Metal Sheets 16.54
Master Burn Boiler Repairs 576.30
Matheson Tri-Gas Inc Ext Cord, Transformer Style 1,106.84
Mcgough Construction Co Llc Pay App #8 1,111,190.00
Mega Wash Errand Car - Car Wash 18.00
Menards Box, Charger, Straps, Coax 2,509.17
Mettler Implement Inc Lighted License Plate Frame 25.00
Miedema Sanitation Inc Trash Removal 986.00
Mitchell Iron & Supply Inc Hand Tap Metric 265.48
Mitchell School District Scoreboard Sponser 2,500.00
Mitchell Trap League Mtc Trap Team Use Of Trap Club 294.00
Munsen, Keah Pep Meeting - Rochester 48.00
Muth Electric Inc Replaced Dimmer 2,838.03
New Chef Fashion Inc Chef Coats 211.01
North Central Seed Gold Star Tough Turf Mix 2,400.00
Nreca Rural Electric 72.00
O'reilly Auto Parts Reservoir Cup 228.43
Office Advantage, The Printing Contract 799.58
Office Of Fire Marshal Boiler Inspections 400.00
Pioneer Designs Signs 113.50
Pmb 0112 Ose Fees 4,756.00
Ponderosa Rentals Storage Unit Rent - December 160.00
Precision Grading Llc Final Pay App - Energy Field 375,763.00
Premier Pest Control Pest Control 675.00
Pro Contracting 3rd Party Tester 3,000.00
Proctorfree, Inc. Hosting Fee Monthly Proctored 1,143.00
Productivity Inc Haas Desktop Mill 14,875.00
Puetz Design + Build Diesel Archtiecture Fees 4,500.00
Qualified Presort Service Llc Postage 2,326.14
Quotient Biodiagnostics Cells 468.16
Riverside Technologies Hp Computer Tablet - Js 1,528.00
Runnings Supply, Inc. Rope Polly 1,947.75
S & M Printing Women In Success Flyers 328.00
Saga Communications Sd Advertising 583.00
Schmitz Construction Llc Pat Lab Door 7,065.19
Schmucker Paul & Nohr Energy Field Pay App #4 1,450.00
Schoen Trimming & Cord. Co., Double Honor Cords 1,370.00
Schoenfelder Portables Portable Toilets 160.00
Schultz, Jennifer Asha Convention - Boston Ma 114.00
Sd Dept Of Labor/Regulation Wage Data Agreement 14.14
Sd Secretary Of State Private Lobbyist Registration 40.00
Sdctm/Sdsta Jpdc Conference Scott & Nathaniel 325.00
Sherwin Williams Fitness Center Ceiling 41.86
Sisson Printing Inc Business Cards 3,779.42
Spencer Quarries Cdl Gravel 1,522.00
Sundquist, Aaron December 2023 Grant 5,288.20
9
Sundquist, Aaron Compensation 5,288.20
Tessman Company, The Ice Melt 1,275.00
Time Clock Plus Software License 65.45
Tonak, Nicole Fall Pep Training 42.00
Transource Truck & Equipment Adapter & Sleeve 249.40
Triangle Engineering, Inc. Welding Equipment 71,610.50
True North Veterinary Health Equine Emergency Training 363.50
Tuttle, Rodney 1st Qtr Tuttle Building Lease Pymt 6,875.00
Unisa, Inc. Payment Center/Perkins Loan 463.20
United Laboratories Moisture Barrier Elec Lube 578.04
Us Bank Operations Center November Facility Fees 23,153.67
Us Foodservice Program Supplies 140.45
Voyager Fleet Systems Inc Fuel 6,381.38
Weisser, Shirlyce Reimbursement For Mlt Supplies 122.51
Wheelco Truck & Trailer Parts Squeegees 917.39
Wright, Barbara Jrcert Unannounced Site Visit 32.00
Xerox Financial Services Copiers Lease 502.24
Fund Number 23 1,905,822.39
Checking Account Id 1 Fund Number 26 Mtc Enterprise Fund
Builders First Source House 110 - Plowed Fasica 13,667.67
Cash-Wa Distributing Oak Room Supplies 3,711.67
Chesterman Company Cafe Supplies 1,775.25
Cintas Corp Culinary Laundry 399.88
County Fair, Inc Culinary Supplies 212.75
Dakota Supply Group Inc House 110 - Hct 224.85
Johnstone Supply House 110 - Hct 215.84
Jones Supplies Cafe Supplies 1,183.88
Menards House 110 - Siding 2,450.89
Miedema Sanitation Inc Trash Removal 140.00
Northwestern Energy House 110 30.95
Schoenfelder Portables Portable Toilets 160.00
Us Foodservice Oak Room Supplies 5,552.69
Winsupply Of Sioux Falls House 110 - Hct 5.26
Checking Account Id 1 Fund Number 27 Mti - Cte Academy
A Ox Welding Supply Inc Welding Supplies 219.55
Advance Auto Parts Program Supplies 30.95
Apprentice Doctor, The Program Supplies 90.00
Autozone Overpayment 36.20
First National Bank Supplies 197.10
Menards O/M,Program Supplies 399.51
Napa Central Program Supplies 492.17
Runnings Supply, Inc. Program Supplies 49.92
Checking Account Id 1 Fund Number 29 Mtc Corporate Training
A Ox Welding Supply Inc Corp Ed - Cylinders 13.27
Elo Prof Llc Corp Ed Qbo Fees - October 50.00
Pepsi Mitchell Vending/Water 687.13
Fund Number 29 770.32
Checking Account Id 1 Fund Number 41 Capital Projects-New Senior
High School
Puetz Design + Build Pay Application #8 2,139,315.64
Schemmer Associates Cm Fees 75,114.94
Fund Number 41 2,214,430.58
10
Checking Account Id 1 Fund Number 51 Food Service
Aramark Laundry Service 641.80
Chesterman Company Food Supplies 1,462.00
Darrington Water Conditioning Water Conditioning 100.30
Earl, Laura Lunch Money Refund 56.20
East Side Jersey Dairy Inc Food Supplies 6,789.69
Fortney, Rebecca Lunch Money Refund 17.50
Pepsi Mitchell Food Supplies 2,956.16
Performance Foodservice Food Supplies 75,233.53
Checking Account Id 1 Fund Number 52 Mtc Campus Store Fund
Akademos, Inc. Books 4,450.87
Balfour Cap/Gown/Tassel 14,465.25
Elenco Electronics Solder Practice 627.78
Excel Images Campus Store Spirit Apparel 604.07
Gfsi Llc Ambassdor Jackets 2,804.80
Johnstone Supply Batteries 78.85
Pepsi Mitchell Vending/Water 72.05
Snap-On Industrial Toolboxes 2,478.80
Spirit Products Ltd Mud Love Loco Bracelet 152.40
United Parcel Service Freight 655.64
Vantage Apparel Campus Store Apparel 3,767.30
Checking Account Id 1 Fund Number 53 Mtc Farm Resale
C & B Operations Llc Land Lab - Sensor 104.52
Farmers Alliance Land Lab - Tire & Disposal 402.05
Voyager Fleet Systems Inc Fuel 367.92
Fund Number 53 874.49
11
Personnel Items/Regular Board Meeting– December 11, 2023
A. New Certified Hires:
Aaron Klinger- Social Worker/Attendance Liaison
Compensation- $26,000.00 ($52,000.00 prorated to 115 days)
Effective- January 3, 2024
B. New Classified Hires:

Adam Dejong- Paraeducator @ MMS
Compensation- $16.00/hr. 7.25hrs. daily
Effective- December 13, 2023
C. Resignation:
Hannah Wehlander- MS Musical Director
Effective- End of 2023-24 School year, pending suitable replacement
D. Retirement:
LaRue Steffes_ Paraeducator @ MHS
Effective- May 31, 2024
E. MTC New Hire:

Travis Van Dyke – Power Line Construction & Maintenance Instructor
Compensation – $38,000 / 91 days (Prorated and rounded from $75,000 / 180 days)
Effective – January 1, 2024
Elizabeth Luzak – Clinical Adjunct Registered Nursing

Compensation – $6,720
Abbie Marten – MICR 231 - Microbiology (4 credits)

Janet Nicolaus – BUS 161 – Digital Media Concepts (3 credits)

F. Resignation:
Deb Flynn – Speech-Language Pathology Assistant Instructor (half-time)
Effective – May 16, 2024
Noah Brinkman – Wind Turbine Technology Instructor

12
MITCHELL
2
School Board Meeting
Agenda Item
For presentation at tKH'HFHPEHU 202 meeting of the school ERDUG
Subject: Public Commentary
From: General Public
Nature of action requested from the Board:
Board Action ‫܆‬

Board Information ‫܈‬
Scheduled report ‫܆‬
This item is included on the agenda to provide the public an opportunity to address the board
on topics which are not a part of the board agenda. Any topic or issue presented will not
receive action at the meeting by the Board, but will be given further study. Please also note
that individuals who have concerns about district employees or who wish to discuss
individual students should do so through other processes, such as the complaint procedure.
Such issues cannot be addressed in open session.
-RH&KLOGV6XSHULQWHQGHQW
1DPH 'DWH
15
MITCHELL SCHOOL DISTRICT NO. 17-2
Agenda Item
For presentation at the December 11, 2023, meeting of the school board.
Subject: Board Consideration of Adoption of Resolution Authorizing the Execution, Terms,

Issuance, Sale, and Payment of Limited Tax General Obligation Certificates for the
Mitchell High School Construction Project.
From: Joe Childs, Superintendent
Nature of action requested:

Board Action X
Board Information
Scheduled report
Description of the item (including nature of the problem, program covered, impact, board
action desired, etc.)
As the Board is aware, a portion of the financing plan for the Mitchell High School
Construction project included the issuance of $7,500,000 in capital outlay certificates. I am
requesting Board approval of the attached resolution to begin that process.
Included here as support documents are:

1. The Extract of Minutes which will demonstrate school board approval.
2. The actual Resolution authorizing sale, etc. of the general obligation certificates.
3. The State Aid Pledge Agreement which allows the Mitchell School District to
associate with the State of South Dakota in order to secure the best possible credit
rating, and thus the best possible interest rates, and pledges state aide toward the
repayment as a means of protecting the State of South Dakota.
4. The draft debt service schedule and related documents.
Individual(s) who will attend the board meeting and speak to the item:
Theresa Kriese, Business Manager

Joe Childs, Superintendent
I will be able to review the item further at the school board meeting, if requested:
Name: Joe Childs, Superintendent Date: December 11, 2023
16
EXTRACT OF MINUTES OF MEETING OF THE
SCHOOL BOARD OF MITCHELL SCHOOL DISTRICT 17-2
DAVISON AND HANSON COUNTIES, SOUTH DAKOTA
Pursuant to due call and notice thereof, a meeting of the Mitchell School District 17-2,
Davison and Hanson Counties, State of South Dakota, was held on __________ ___, 2023, at
____________ o’clock p.m.
The following members were present:
and the following were absent:
Thereupon the President declared that a quorum was present and the meeting opened for
transaction of business.
Member _______________, introduced the following resolution and moved its adoption:
17
RESOLUTION
RESOLUTION AUTHORIZING THE EXECUTION, TERMS, ISSUANCE, SALE AND

PAYMENT OF LIMITED TAX CAPITAL OUTLAY CERTIFICATES IN THE
AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED SEVEN MILLION FIVE
HUNDRED THOUSAND DOLLARS ($7,500,000) OF THE MITCHELL SCHOOL
DISTRICT 17-2 OF DAVISON AND HANSON COUNTIES, SOUTH DAKOTA AND THE
PLEDGE OF STATE AID TO EDUCATION TO SECURE PAYMENT THEREOF.
WHEREAS, the Mitchell School District 17-2 is authorized by the provisions of SDCL §13-16-
6.2 to issue Limited Tax Capital Outlay Certificates to fund the acquisition or construction of real
property, plant and equipment; and
WHEREAS, the School Board has determined that is necessary and in the best interest of the
School District to issue Limited Tax Capital Outlay Certificates of the School District for the
purpose of providing funds for school improvements including completing the new High School
Project and the costs of issuing the certificates.
WHEREAS, the School Board has determined that it is necessary and in the best interest of the
School District to participate in the Pledged State Aid Program authorized under SDCL §13-19-
27 and SDCL §13-16A-97 administered by the South Dakota Health and Educational Facilities
Authority and to pledge the School District’s right to receive state aid to education to secure
payment of such Certificates.
NOW THEREFORE, BE IT RESOLVED BY THE SCHOOL BOARD OF THE

MITCHELL SCHOOL DISTRICT 17-2 OF DAVISON AND HANSON COUNTIES,
SOUTH DAKOTA AS FOLLOWS:
ARTICLE I
DEFINITIONS
Section 1.1. Definition of Terms.
In addition to the words and terms elsewhere defined in this Resolution, the following words and
terms as used herein, whether or not the words have initial capitals, shall have the following
meanings, unless the context or use indicates another or different meaning or intent, and such
definitions shall be equally applicable to both the singular and plural forms of any of the words
and terms herein defined:
“Act” means collectively SDCL Chapter 6-8B and Title 13, as amended.
“Authority” means the South Dakota Health and Educational Facilities Authority and any
successor or assigns.
18
“Authorized Officer of the School District” means the President of the School Board and the
Business Manager, or, in the case of any act to be performed or duty to be discharged, any other
member, officer, or employee of the School District then authorized to perform such act or
discharge such duty.
“Blanket Letter of Representation” means the Blanket Issuer Letter of Representation to DTC of
the School District.
“Bond Counsel” means Meierhenry Sargent LLP, a firm of attorneys recognized as having
experience in matters relating to the issuance of state or local governmental obligations.
“Book-Entry Form” or “Book-Entry System” means a form or system, as applicable, under which
physical bond certificates in fully registered form are issued to a Depository or to its nominee as
Registered Owner, with the certificated bonds being held by and “immobilized” in the custody of
such Depository, and under which records maintained by persons, other than the School District
or the Registrar and Paying Agent, constitute the written record that identifies, and records the
transfer of the beneficial “book-entry” interests in those Certificates.
“Business Manager” means the Business Manager of the School District appointed pursuant to the
provisions of South Dakota Codified Laws Title 13 or, in the absence of such appointment or in
the event the person so appointed is unable or incapable of acting in such capacity, the person
appointed by the School Board to perform the duties otherwise performed by the Business
Manager, or his or her designee.
“Capital Outlay Fund” means the District’s capital outlay fund provided by SDCL §13-16-6.
“Certificates” means not to exceed $7,500,000 in aggregate principal amount of Limited Tax
Capital Outlay Certificates, Series 2024, dated the Closing Date, or such other designation or date
as shall be determined by the School Board pursuant to Section 8.1 hereof, authorized and issued
under this Certificate Resolution.
“Certificate Payment Date” means each date on which interest, or both principal and interest, shall
be payable on the Certificates so long as any of the Certificates shall be outstanding.
“Certificate Purchase Agreement” means the agreement between the School District and the
Underwriter for the purchase of the Certificates.
“Certificate Resolution” means this Resolution, duly adopted by the School Board on the date
hereof, as it may be amended from time to time.
“Certificateholder”, “Holder” and “Registered Owner” means the registered owner of a Certificate,
including any nominee of a Depository.
“Closing Date” means the date the Certificates are exchanged for value.
19
“Code” means the Internal Revenue Code of 1986, as amended, and the applicable regulations of
the United States Department of Treasury promulgated thereunder as in effect on the date of
issuance of the Certificates.
“Depository” means any securities depository that is a clearing agency under federal laws
operating and maintaining, with its participants or otherwise, a Book-Entry System, including, but
not limited to DTC.
“Delinquency” means the failure of the District to deposit with the Registrar and Paying Agent
any amount due with respect to the Outstanding Bonds or any Parity Obligation on or before the
fifteenth day preceding an Interest Payment Date for any Outstanding Bonds or Parity Bonds.
“Delinquent Amount” means (i) regarding a Delinquency with respect to a Principal or Interest
Payment Date, all principal, interest, and other amounts coming due on the Certificates or Parity
Obligations on such date and on the next occurring Principal or Interest Payment Date, and (ii)
regarding a Delinquency with respect to a Principal or Interest Payment Date, all principal, interest,
and other amounts coming due on the Certificates or Parity Obligations on such date.
“District” means the Mitchell School District 17-2.
“DOE” means the South Dakota Department of Education.
“DTC” means the Depository Trust Company, a limited purpose company organized under the
laws of the State of New York, and its successors and assigns.
“DTC Participant(s)” means securities brokers and dealers, banks, trust companies and clearing
corporations that have access to the DTC system.
“Improvements” means the completion of the new High School Project; and any other school
improvements identified by the District.
“Interest Payment Dates” means each date on which interest shall be payable on the Certificates
so long as any of the Certificates shall be outstanding.
“Mail” means delivery through the United States Postal Office or other delivery service, e-mail or
delivery through other electronic means.
“Official Statement” and “Preliminary Official Statement” means that Official Statement and
Preliminary Official Statement described in Section 8.2 hereof pertaining to the sale of the
Certificates.
“Original Issue Discount or OID” means an amount by which the par value of a security exceeds
its public offering price at the time of its original issuance.
20
“Original Issue Premium or OIP” means the amount by which the public offering price of a security
at the time of its original issuance exceeds its par value.
“Outstanding,” “Certificates Outstanding,” or “Outstanding Certificates” means, as of a particular

date all certificates issued and delivered except: (1) any certificates paid or redeemed or otherwise
canceled by the School District at or before such date; (2) any certificate for the payment of which
cash, equal to the principal amount thereof with interest to date of maturity, shall have theretofore
been deposited prior to maturity by the School District for the benefit of the Owner thereof; (3)
any certificate for the redemption of which cash, equal to the redemption price thereof with interest
to the redemption date, shall have theretofore been deposited with the Registrar and Paying Agent
and for which notice of redemption shall have been mailed in accordance with this Resolution; (4)
any certificate in lieu of or in substitution for which another certificate shall have been delivered
pursuant to this Resolution, unless proof satisfactory to the School District is presented that any
certificate, for which a certificate in lieu of or in substitution therefor shall have been delivered, is
held by a bona fide purchaser, as that term is defined in Article 8 of the Uniform Commercial Code
of the State, as amended, in which case both the Certificate in lieu of or in substitution for which
a new certificate has been delivered and such new certificate so delivered therefor shall be deemed
Outstanding; and, (5) any certificate deemed paid under the provisions of Article VII of this
Resolution, except that any such certificate shall be considered Outstanding until the maturity or
redemption date thereof only for the purposes of being exchanged, transferred, or registered.
“Parity Obligations” means any bond, note, certificate or other obligation of the District issued
after the date hereof which is secured by Pledged State Aid and is still “outstanding” under the
resolution, indenture or other instrument pursuant to which it was issued.
“Paying Agent” means a commercial bank or regulated financial institution which is serving as
the Registrar and Paying Agent under Sections 4.3(c), 4.5, and 4.6, and Article VI of this
Resolution and who is also party to the State Pledge Agreement in the capacity of the “Paying
Agent.”
“Person” means an individual, partnership, corporation, trust, or unincorporated organization, or a

governmental entity or agency or political subdivision thereof.
“Pledged State Aid” means the state aid to education funds provided under Title 13 of South
Dakota Codified Laws.
“President” means the president of the School Board elected pursuant to the provisions of SDCL
Chapter 13-8 or his or her designee acting on his or her behalf.
“Program” or “Pledged State Aid Program” means the Authority’s State Aid Pledge Program
authorized under SDCL §13-19-27 and SDCL §1-16A-97.
“Purchase Agreement” means the Certificate Purchase Agreement authorized pursuant to and
described in Section 8.1 hereof by and between the School District and the Underwriter.
21
“Rating Agency” means one or more of the following rating agencies: S&P Global Ratings,
Moody's Investors Service Inc. and Fitch IBCA, Inc.
“Record Date” means the close of business on the fifteenth/first day (whether or not a business day)
of the calendar month next preceding an interest payment date.
“Registrar and Paying Agent” means U.S. Bank Trust Company, National Association, St. Paul,
Minnesota, or its successor or successors hereafter appointed in the manner provided in Article VI
hereof.
“Resolution” means this Certificate Resolution.
“Schedule” means the schedule which indicates the principal and interest payments on the
Certificates.
“School Board” means the School Board of the School District elected pursuant to the provisions
of the SDCL Title 13.
“School District” means the Mitchell School District 17-2.
“State Aid to Education” means all state aid to education and all other funds which are appropriated
from time to time for distribution to the School District under SDCL Title 13.
“State Aid Pledge Agreement” means the State Aid Pledge Agreement among the School District,
Paying Agent, DOE and the Authority, as amended from time to time.
“Underwriter” means Colliers Securities LLC, Sioux Falls, South Dakota, acting for and on behalf
of it and such securities dealers as it may designate.
“Vice-President” means the Vice-President of the School Board who may act for the President in
the absence of the President.
Section 1.2. References to Resolution.
The words “hereof”, “herein”, “hereunder”, and other words of similar import refer to this
Certificate Resolution as a whole.
22
Section 1.3. References to Articles, Sections, Etc.
References to Articles, Sections, and other subdivisions of this Resolution are to the designated
Articles, Sections, and other subdivisions of this Resolution as originally adopted.
Section 1.4. Headings.
The headings of this Resolution are for convenience only and shall not define or limit the
provisions hereof.
ARTICLE II
FINDINGS
Section 2.1.
It is hereby found and determined by the School Board as follows:
(a) The principal amount of the Certificates does not exceed one and one half percent (1 1/2%) of
the assessed valuation of the District;
(b) The District has developed and maintained a five-year plan on the annual projected revenues
and annual projected expenditures for the capital outlay fund;
(c) The School District hereby determines that all limitations upon the issuance of Certificates
have been met and the Certificates are being authorized, issued and sold in accordance with the
provisions of the Act and this Resolution.
(d) The District has determined that it is in the best interest of the School District to participate in
the Program and to pledge State Aid to Education under SDCL Title 13 to secure the Certificates.
ARTICLE III
AUTHORITY, PLEDGE, AND LEVY
Section 3.1. Authority.
In order to (i) fund the acquisition and construction of the Improvements and (ii) pay costs incident
to the sale and issuance of the Certificates, there shall be issued pursuant to, and in accordance
with, the provisions of the Act, this Resolution, and other applicable provisions of law Limited
Tax Capital Outlay Certificates, Series 2024 of the School District in the aggregate principal
amount of not to exceed $7,500,000.
23
Section 3.2. Pledge.
The taxing powers, not to exceed three dollars per thousand of taxable valuation, of said School
District shall be and they are hereby irrevocably pledged to the prompt and full payment of the
principal of and interest on each and all of the Certificates as such principal and interest
respectively become due. Pursuant to SDCL § 13-16-10, the School District does hereby pledge
and provide for an annual tax sufficient to pay principal and interest on the Certificates when due.
Section 3.3. Levy of Taxes.
The District does hereby provide for an annual levy, not to exceed three dollars per thousand of
the taxable valuation of the School District, to produce collected taxes, taking into consideration
an amount necessary to provide for delinquencies, reasonable reserve and mandatory early
redemption, to pay principal and interest on the Certificates when due. The Business Manager is
directed to provide the County Auditors of Davison and Hanson Counties with the Schedule. The
Schedule is made a part of this Resolution as if stated in full and shall be open to public inspection
at the office of the Business Manager. Said levies shall be irrepealable so long as any of the
Certificates or interest thereon shall remain unpaid, except that the School Board of the District
and the Auditors shall have the power to reduce the levy as provided by SDCL §13-16-11.
Section 3.3. Pledge of State Aid to Education.
In order to secure payment of the principal of and interest on the Certificates as and when due, the
School District hereby pledges and grants to the Registrar and Paying Agent all of the School
District’s right, title, and interest in and to all State Aid to Education.
Section 3.4. Deposit of Pledged Moneys.
Pursuant to the requirements of the Program, the School District shall deposit with the Registrar
and Paying Agent on or before the fifteenth day of the month preceding the principal and/or interest
payment coming due on the next Interest Payments Date.
ARTICLE IV
FORM, TERMS, EXECUTION, AND TRANSFER OF CERTIFICATES
Section 4.1. Authorized Certificates.
The aggregate principal amount of Certificates that may be issued under this Certificate Resolution
shall not exceed Seven Million Five Hundred Thousand and No/100 Dollars ($7,500,000).
Section 4.2. Form of Certificates; Execution.
(a) The Certificates are issuable only as fully registered Certificates, without coupons, in any
denomination and one single Certificate may represent installments of principal maturing on more
than one date. All Certificates issued under this Resolution shall be substantially in the form set
24
forth in Exhibit A attached hereto, and by this reference incorporated herein as fully as though
copied.
(b) The Certificates shall be executed in such manner as may be prescribed by applicable law in
the name and on behalf of the School District with the manual or facsimile signature of the
President of the School Board, attested by the manual or facsimile signature of the Business
Manager, and approved as to form and countersigned by a Resident Attorney by his manual or
facsimile signature.
(c) In the event any officer whose manual or facsimile signature shall appear on any Certificate
shall cease to be such officer before the delivery of such Certificates, such manual or such facsimile
signature shall nevertheless be valid and sufficient for all purposes as if he or she had remained in
office until such delivery. Any Certificate may bear the facsimile signature of, or may be manually
signed by, such individuals who, at the actual time of the execution of such Certificate, were the
proper officers of the School District to sign such Certificates, although on the date of the adoption
by the School District of this Resolution, such individuals may not have been such officers.
Section 4.3. Maturities, Interest Rates, and Certain Other Provisions of Certificates.
(a) The Certificates shall become due and payable as set forth in the Certificate Purchase
Agreement.
(b) The Certificates shall be designated “Limited Tax Capital Outlay Certificates, Series 2024,”
or such other designation as shall be determined by the School Board pursuant to Section 8.1
hereof. The Certificates shall bear interest from their date or from the most recent interest payment
date to which interest has been paid or duly provided for, until the principal amount of the
Certificates is paid, such interest (computed upon the basis of a 360-day year of twelve 30-day
months) being payable on Interest Payment Dates. Interest on each Certificate shall be paid by
wire transfer, check or draft of the Paying Agent, payable in lawful money of the United States of
America, to the person in whose name such Certificates is registered at the close of business on
the Record Date. The principal of the Certificates shall be payable in lawful money of the United
States of America at the principal office of the Paying Agent on the Certificates Payment Date.
Each Certificate shall state that it is issued pursuant to SDCL 6-8B.
(c) The Registrar and Paying Agent shall make all interest payments with respect to the
Certificates on each interest payment date directly to the registered owners as shown on the
Certificate registration records maintained by the Registrar and Paying Agent as of the close of
business on the Record Date by wire transfer, check or draft mailed to such owners at their
addresses shown on said Certificate registration records, without, except for final payment, the
presentation or surrender of such registered Certificates, and all such payments shall discharge the
obligations of the School District in respect of such Certificates to the extent of the payments so
made. Payment of principal of and premium, if any, on the Certificates shall be made upon
presentation and surrender of such Certificates to the Registrar and Paying Agent as the same shall
become due and payable.
25
(d) Additional Certificates. This Resolution authorizing the issuance of the Certificates permits
the issuance of additional certificates payable from the Capital Outlay Fund of the District,
provided that the School Board first determines that a Capital Outlay Fund tax levy of not more
than $3 per $1,000 of taxable valuation will afford debt service coverage for all Outstanding
Capital Outlay Certificates, plus the additional capital outlay certificates proposed to be issued, of
at least 1.25 times. The property tax levy for any such additional certificates, together with the
levy for then all Outstanding Capital Outlay Certificates described herein and any other Capital
Outlay Fund purposes, would be limited to $3 per $1,000 in total. Such additional certificates
would have a parity claim with all the then Outstanding Capital Outlay Certificates against
property tax revenues received into the Capital Outlay Fund of the District. In addition, if a State
Aid Pledge Agreement is executed and delivered in connection with the issuance of such additional
Certificates, such Certificates shall also have a parity claim on the State Aid to Education.
Section 4.4. Negotiability of Certificates.
All Certificates issued under this Resolution shall be negotiable, subject to the provisions for
registration and transfer contained in this Resolution and in the Certificates.
Section 4.5. Registration, Transfer and Exchange of Certificates.
(a) The Certificates are transferable only by presentation to the Registrar and Paying Agent by the
registered owner, or his legal representative duly authorized in writing, of the registered
Certificate(s) to be transferred with the form of assignment on the reverse side thereof completed
in full and signed with the name of the registered owner as it appears upon the face of the
Certificate(s) accompanied by appropriate documentation necessary to prove the legal capacity of
any legal representative of the registered owner. Upon receipt of the Certificate(s) in such form
and with such documentation, if any, the Registrar and Paying Agent shall issue a new Certificate
or Certificates to the assignee(s) in $5,000 denominations, or integral multiples thereof, as
requested by the registered owner requesting transfer. The Registrar and Paying Agent shall not
be required to transfer or exchange any Certificate during the period commencing on a Record
Date and ending on the corresponding interest payment date of such Certificate, nor to transfer or
exchange any Certificate after the publication of notice calling such Certificate for redemption has
been made, nor to transfer or exchange any Certificate during the period following the receipt of
instructions from the School District to call such Certificate for redemption; provided, the
Registrar and Paying Agent, at its option, may make transfers after any of said dates. No charge
shall be made to any registered owner for the privilege of transferring any Certificates, provided
that any transfer tax relating to such transaction shall be paid by the registered owner requesting
transfer. The person in whose name any Certificate shall be registered shall be deemed and
regarded as the absolute owner thereof for all purposes and neither the School District nor the
Registrar and Paying Agent shall be affected by any notice to the contrary whether or not any
payments due on the Certificates shall be overdue. Certificates, upon surrender to the Registrar
and Paying Agent, may, at the option of the registered owner, be exchanged for an equal aggregate
principal amount of Certificates of the same maturity in any authorized denomination or
denominations.
26
(b) Except as otherwise provided in this subsection, the Certificates shall be registered in the name
of Cede & Co., as nominee of DTC, which will act as securities depository for the Certificates.
References in this Section to a Certificate or the Certificates shall be construed to mean the
Certificate or the Certificates that are held under the Book-Entry System. One Certificate for each
maturity shall be issued to DTC and immobilized in its custody. Unless otherwise provided herein,
a Book-Entry System shall be employed, evidencing ownership of the Certificates in authorized
denominations, with transfers of beneficial ownership effected on the records of DTC and the DTC
Participants pursuant to rules and procedures established by DTC.
Each DTC Participant shall be credited in the records of DTC with the amount of such DTC
Participant’s interest in the Certificates. Beneficial ownership interests in the Certificates may be
purchased by or through DTC Participants. The holders of these beneficial ownership interests are
herein referred to as the “Beneficial Owners.” The Beneficial Owners shall not receive the
Certificates representing their beneficial ownership interests. The ownership interests of each
Beneficial Owner shall be recorded through the records of the DTC Participant from which such
Beneficial Owner purchased its Certificates. Transfers of ownership interests in the Certificates
shall be accomplished by book entries made by DTC and, in turn, by DTC Participants acting on
behalf of Beneficial Owners. SO LONG AS CEDE & CO., AS NOMINEE FOR DTC, IS THE
REGISTERED OWNER OF THE CERTIFICATES, THE REGISTRAR AND PAYING AGENT
SHALL TREAT CEDE & CO., AS THE ONLY HOLDER OF THE CERTIFICATES FOR ALL
PURPOSES UNDER THIS RESOLUTION, INCLUDING RECEIPT OF ALL PRINCIPAL OF,
PREMIUM, IF ANY, AND INTEREST ON THE CERTIFICATES, RECEIPT OF NOTICES,
VOTING AND REQUESTING OR DIRECTING THE REGISTRAR AND PAYING AGENT
TO TAKE OR NOT TO TAKE, OR CONSENTING TO, CERTAIN ACTIONS UNDER THIS
CERTIFICATE RESOLUTION.
Payments of principal, interest, and redemption premium, if any, with respect to the Certificates,
so long as DTC is the only owner of the Certificates, shall be paid by the Registrar and Paying
Agent directly to DTC or its nominee, Cede & Co., as provided in the Letter of Representation.
DTC shall remit such payments to DTC Participants, and such payments thereafter shall be paid
by DTC Participants to the Beneficial Owners. Neither the School District nor the Registrar and
Paying Agent shall be responsible or liable for payment by DTC or DTC Participants, for sending
transaction statements or for maintaining, supervising or reviewing records maintained by DTC or
DTC Participants.
In the event that (1) DTC determines not to continue to act as securities depository for the
Certificates or (2) the School District determines that the continuation of the Book-Entry System
of evidence and transfer of ownership of the Certificates would adversely affect their interests or
the interests of the Beneficial Owners of the Certificates, the School District may discontinue the
Book-Entry System with DTC. If the School District fails to identify another qualified securities
depository to replace DTC, the School District shall cause the Registrar and Paying Agent to
authenticate and deliver replacement Certificates in the form of fully registered Certificates to each
Beneficial Owner.
27
NEITHER THE SCHOOL DISTRICT NOR THE REGISTRAR AND PAYING AGENT SHALL
HAVE ANY RESPONSIBILITY OR OBLIGATIONS TO ANY DTC PARTICIPANT OR ANY
BENEFICIAL OWNER WITH RESPECT TO (i) THE CERTIFICATES; (ii) THE ACCURACY
OF ANY RECORDS MAINTAINED BY DTC OR ANY DTC PARTICIPANT; (iii) THE
PAYMENT BY DTC OR ANY DTC PARTICIPANT OF ANY AMOUNT DUE TO ANY
BENEFICIAL OWNER IN RESPECT OF THE PRINCIPAL OF AND INTEREST ON THE
CERTIFICATES; (iv) THE DELIVERY OR TIMELINESS OF DELIVERY BY DTC OR ANY
DTC PARTICIPANT OF ANY NOTICE DUE TO ANY BENEFICIAL OWNER THAT IS
REQUIRED OR PERMITTED UNDER THE TERMS OF THIS CERTIFICATE RESOLUTION
TO BE GIVEN TO BENEFICIAL OWNERS, (v) THE SELECTION OF BENEFICIAL
OWNERS TO RECEIVE PAYMENTS IN THE EVENT OF ANY PARTIAL REDEMPTION
OF THE CERTIFICATES; OR (vi) ANY CONSENT GIVEN OR OTHER ACTION TAKEN BY
DTC, OR ITS NOMINEE, CEDE & CO., AS OWNER.
SO LONG AS A BOOK-ENTRY SYSTEM OF EVIDENCE OF TRANSFER OF OWNERSHIP

OF ALL THE CERTIFICATES IS MAINTAINED IN ACCORDANCE HEREWITH, THE
PROVISIONS OF THIS RESOLUTION RELATING TO THE DELIVERY OF PHYSICAL
BOND CERTIFICATES SHALL BE DEEMED INAPPLICABLE OR BE OTHERWISE SO
CONSTRUED AS TO GIVE FULL EFFECT TO SUCH BOOK-ENTRY SYSTEM. IF THE
PROVISIONS OF THE LETTER OF REPRESENTATION SHALL BE IN CONFLICT WITH
THE PROVISIONS OF THIS RESOLUTION AS SAID PROVISIONS RELATE TO DTC, THE
PROVISIONS OF THE LETTER OF REPRESENTATION SHALL CONTROL.
Section 4.6. Mutilated, Lost, Stolen, or Destroyed Certificates.
(a) In the event any Certificate is mutilated, lost, stolen, or destroyed, the School District may
execute, and upon the request of an Authorized Officer of the School District the Registrar and
Paying Agent shall authenticate and deliver, a new Certificate of like maturity, interest rate, and
principal amount, and bearing the same number (but with appropriate designation indicating that
such new Certificate is a replacement Certificate) as the mutilated, destroyed, lost, or stolen
Certificate, in exchange for the mutilated Certificate or in substitution for the Certificate so
destroyed, lost, or stolen. In every case of exchange or substitution, the Certificateholder shall
furnish to the School District and the Registrar and Paying Agent: (1) such security or indemnity
as may be required by them to save each of them harmless from all risks, however remote; and,
(2) evidence to their satisfaction of the mutilation, destruction, loss, or theft of the subject
Certificate and the ownership thereof. Upon the issuance of any Certificate upon such exchange
or substitution, the School District and the Registrar and Paying Agent may require the Owner
thereof to pay a sum sufficient to defray any tax or other governmental charge that may be imposed
in relation thereto and any other expenses, including printing costs and counsel fees, of the School
District and the Registrar and Paying Agent. In the event any Certificate which has matured or is
about to mature shall become mutilated or be destroyed, lost, or stolen, the School District may,
instead of issuing a Certificate in exchange or substitution therefor, pay or authorize the payment
of the same (without surrender thereof except in the case of a mutilated Certificate) if the Owner
thereof shall pay all costs and expenses, including attorney’s fees, incurred by the School District
and the Registrar and Paying Agent in connection herewith, as well as a sum sufficient to defray
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any tax or other governmental charge that may be imposed in relation thereto and shall furnish to
the School District and the Registrar and Paying Agent such security or indemnity as they may
require to save them harmless and evidence to the satisfaction of the School District and the
Registrar and Paying Agent the mutilation, destruction, loss, or theft of such Certificate and of the
ownership thereof.
(b) Every Certificate issued pursuant to the provisions of this section shall constitute an additional
contractual obligation of the School District (whether or not the destroyed, lost, or stolen
Certificate shall be found at any time to be enforceable) and shall be entitled to all the benefits of
this Resolution equally and proportionately with any and all other Certificates duly issued under
this Resolution.
(c) All Certificates shall be held and owned upon the express condition that the provisions of this
Section are exclusive, with respect to the replacement or payment of mutilated, destroyed, lost, or
stolen Certificates, and, to the maximum extent legally permissible, shall preclude all other rights
or remedies, notwithstanding any law or statute now existing or hereafter enacted to the contrary.
Section 4.7. Authentication.
The Registrar and Paying Agent is hereby authorized to authenticate and deliver the Certificates
to the Underwriter or as it may designate upon receipt by the School District of the proceeds of the
sale thereof, to authenticate and deliver Certificates in exchange for Certificates of the same
principal amount delivered for transfer upon receipt of the Certificate(s) to be transferred in proper
form with proper documentation as hereinabove described. The Certificates shall not be valid for
any purpose unless authenticated by the Registrar and Paying Agent by the manual signature of an
officer thereof on the certificate set forth herein on the Certificate form.
Section 4.8. Qualification for DTC.
The Registrar and Paying Agent is hereby authorized to take such actions as may be necessary
from time to time to qualify and maintain the Certificates for deposit with DTC, including but not
limited to, wire transfers of interest and principal payments with respect to the Certificates,
utilization of electronic book entry data received from DTC in place of actual delivery of
Certificates and provision of notices with respect to Certificates registered by the DTC (or any of
its designees identified to the Registrar and Paying Agent) by overnight delivery, courier service,
telegram, telecopy or other similar means of communication. No such arrangements with DTC
may adversely affect the interest of any of the Owners of the Certificates, provided, however, that
the Registrar and Paying Agent shall not be liable with respect to any such arrangements it may
make pursuant to this section. The Business Manager is hereby authorized to execute the Blanket
Letter of Representation.
Section 4.9. Underwriter.
The President and Business Manager are authorized to retain Colliers Securities LLC, Sioux Falls,
South Dakota, as Underwriter upon such terms as they approve.
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Section 4.10. Bond Counsel.
The President and Business Manager are authorized to retain Meierhenry Sargent LLP as Bond
Counsel upon such terms as they approve.
Section 4.11. Rating Agency.
The President and Business Manager are authorized to retain the Rating Agency upon such terms
as they approve.
Section 4.12. Dissemination Agent.
The District authorizes the Authorized Officer of the District to retain a dissemination agent with
regard to the written undertaking authorized in Section 9.7 hereof.
Section 4.13. The State Aid Pledge Agreement. The Certificates shall be secured by the State
Aid to Education pursuant to the State Aid Pledge Agreement and this Resolution. The President
and the Business Manager are, or either of them is, hereby authorized to execute, deliver, and
perform the State Aid Pledge Agreement in connection with the offer, sale, and issuance of the
Certificates. The State Aid Pledge Agreement shall be in the form and content acceptable to the
President and Business Manager, the execution thereof by either of them to constitute conclusive
evidence thereof.
ARTICLE V
REDEMPTION OF CERTIFICATES PRIOR TO MATURITY
Section 5.1. Redemption.
The Certificates shall be redeemable as set forth in the Certificate Purchase Agreement.
Section 5.2. Notice of Redemption.
Notice of call for redemption, whether optional or mandatory, shall be given by the Registrar and
Paying Agent on behalf of the District 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 registered owners of the
Certificates to be redeemed by first-class mail, postage prepaid, at the addresses shown on the
bond registration records of the Registrar and Paying Agent as of the date of the notice; but neither
failure to mail such notice nor any defect in any such notice so mailed shall affect the sufficiency
of the proceedings for redemption of any of the Certificates for which proper notice was given. As
long as DTC, or a successor depository, is the registered owner of the Bonds, all redemption
notices shall be mailed by the Registrar and Paying Agent to DTC, or such successor Depository,
as the registered owner of the Bonds, as and when above provided, and neither the District nor the
Registrar and Paying Agent shall 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 or Beneficial Owner will not affect the validity of such redemption. The
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Registrar and Paying Agent shall mail said notices, in the case of mandatory redemption of term
Certificates, as and when provided herein and in the Certificates, and, in the case of optional
redemption, as and when directed by the District pursuant to written instructions from an
Authorized Representative of the District given at least forty-five (45) days prior to the redemption
date (unless a shorter notice period shall be satisfactory to the Registrar and Paying Agent).
Section 5.3. Payment of Redeemed Certificates.
(a) If notice of redemption shall have been given in the manner and under the conditions provided
in Section 5.2 hereof and if on the date so designated for redemption the Registrar and Paying
Agent shall hold sufficient monies to pay the redemption price of, and interest to the redemption
date on, the Certificates to be redeemed as provided in this Resolution, then: (1) the Certificates
so called for redemption shall become and be due and payable at the redemption price provided
for redemption of such Certificates on such date; (2) interest on the Certificates so called for
redemption shall cease to accrue; and, (3) such Certificates shall no longer be Outstanding or
secured by, or be entitled to, the benefits of this Resolution, except to receive payment of the
redemption price thereof and interest thereon from monies then held by the Registrar and Paying
Agent.
(b) If on the redemption date, monies for the redemption of all Certificates or portions thereof to
be redeemed, together with interest thereon to the redemption date, shall not be held by the
Registrar and Paying Agent so as to be available therefor on such date, the Certificates or portions
thereof so called for redemption shall continue to bear interest until paid at the same rate as they
would have borne had they not been called for redemption and shall continue to be secured by and
be entitled to the benefits of this Resolution.
ARTICLE VI
REGISTRAR AND PAYING AGENT
Section 6.1. Appointment and Acceptance of Duties.
(a) The School District hereby authorizes the Business Manager to appoint the Registrar and
Paying Agent with respect to the Certificates and authorizes and directs the Registrar and Paying
Agent to maintain Certificate registration records with respect to the Certificates, to authenticate
and deliver the Certificates as provided herein, either at original issuance, upon transfer, or as
otherwise directed by the School District, to effect transfers of the Certificates, to give all notices
of redemption as required herein, to make all payments of principal and interest with respect to the
Certificates as provided herein, to cancel and destroy Certificates which have been paid at maturity
or upon earlier redemption or submitted for exchange or transfer, to furnish the School District at
least annually a certificate of destruction with respect to Certificates canceled and destroyed, and
to furnish the School District at least annually an audit confirmation of Certificates paid,
Certificates Outstanding and payments made with respect to interest on the Certificates. The
President and the Business Manager, or either of them is hereby authorized to execute and the
Business Manager is hereby authorized to attest such written agreement between the School
District and the Registrar and Paying Agent as they shall deem necessary or proper with respect to
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the obligations, duties and rights of the Registrar and Paying Agent. The payment of all reasonable
fees and expenses of the Registrar and Paying Agent for the discharge of its duties and obligations
hereunder or under any such agreement is hereby authorized and directed.
Section 6.2. Permitted Acts and Functions.
The Registrar and Paying Agent may become the Owner of any Certificates, with the same rights
as it would have if it were not a Registrar and Paying Agent. The Registrar and Paying Agent may
act as a purchaser or fiscal agent in connection with the sale of the Certificates or of any other
securities offered or issued by the School District.
ARTICLE VII
DEFEASANCE OF CERTIFICATES
If the School District shall pay and discharge the indebtedness evidenced by any of the Certificates
in any one or more of the following ways, to wit:
(a) By paying or causing to be paid, by deposit of sufficient funds as and when required with the
Registrar and Paying Agent, the principal of and interest on such Certificates as and when the same
become due and payable;
(b) By depositing or causing to be deposited with any trust company or financial institution whose
deposits are insured by the Federal Deposit Insurance Corporation or similar federal agency and
which has trust powers (“an Agent”; which Agent may be the Registrar and Paying Agent) in trust
or escrow, on or before the date of maturity or redemption, sufficient money or Federal
Obligations, as hereafter defined, the principal of and interest on which, when due and payable,
will provide sufficient moneys to pay or redeem such Certificates and to pay premium, if any, and
interest thereon when due until the maturity or redemption date (provided, if such Certificates are
to be redeemed prior to maturity thereof, proper notice of such redemption shall have been given
or adequate provision shall have been made for the giving of such notice);
(c) By delivering such Certificates to the Registrar and Paying Agent, for cancellation by it;
and if the School District shall also pay or cause to be paid all other sums payable hereunder by
the School District with respect to such Certificates, or make adequate provision therefor, and by
resolution of the Governing Body instruct any such Escrow Agent to pay amounts when and as
required to the Registrar and Paying Agent for the payment of principal of and interest and
redemption premiums, if any, on such Certificates when due, then and in that case the indebtedness
evidenced by such Certificates shall be discharged and satisfied and all covenants, agreements and
obligations of the School District to the holders of such Certificates shall be fully discharged and
satisfied and shall thereupon cease, terminate and become void.
If the School District shall pay and discharge the indebtedness evidenced by any of the Certificates
in the manner provided in either clause (a) or clause (b) above, then the registered owners thereof
shall thereafter be entitled only to payment out of the money or Federal Obligations deposited as
aforesaid.
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Except as otherwise provided in this Section, neither Federal Obligations nor moneys deposited
with the Registrar and Paying Agent pursuant to this Section nor principal or interest payments on
any such Federal Obligations shall be withdrawn or used for any purpose other than, and shall be
held in trust for, the payment of the principal and premium, if any, and interest on said Certificates;
provided that any cash received from such principal or interest payments on such Federal
Obligations deposited with the Registrar and Paying Agent, (A) to the extent such cash will not be
required at any time for such purpose, shall be paid over to the School District as received by the
Registrar and Paying Agent and (B) to the extent 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 due the principal and premium, if any, and interest to
become due on said Certificates on or prior to such redemption date or maturity date thereof, as
the case may be, and interest earned from such reinvestments shall be paid over to the School
District, as received by the Registrar and Paying Agent. For the purposes of this Section, Federal
Obligations shall mean direct obligations of, or obligations, the principal of and interest 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 the time of the purchase thereof
are permitted investments under South Dakota Law for the purposes described in this Section,
which Certificates or other obligations shall not be subject to redemption prior to their maturity
other than at the option of the registered owner thereof.
ARTICLE VIII
SALE OF CERTIFICATES AND DEPOSIT OF PROCEEDS
Section 8.1. Sale of Certificates.
The Certificates shall be sold to the Underwriter at a price to be set forth in the Certificate Purchase
Agreement. The President and the Business Manager, or either of them, are authorized to make
such changes in the structuring of the terms and sale of the Certificates as they shall deem
necessary. The form of the Certificate set forth in Exhibit A attached hereto shall be conformed to
reflect any changes, if any, as hereinbefore mentioned. The President and the Business Manager,
or either of them, are hereby authorized to execute and the Business Manager is authorized to attest
the Certificate Purchase Agreement with the Underwriter providing for the purchase and sale of
the Certificates. The Certificate Purchase Agreement shall be in form and content acceptable to
the President and Business Manager, the execution thereof by either of them to constitute
conclusive evidence thereof; provided the Certificate Purchase Agreement effects the sale of the
Certificates in accordance with the provisions of this Resolution and is not inconsistent with the
terms hereof. The President and the Business Manager are authorized to cause the Certificates to
be authenticated and delivered by the Registrar and Paying Agent to the Underwriter and to
execute, publish, and deliver all certificates and documents, including the Official Statement, and
closing certificates and documents, as they shall deem necessary in connection with the sale and
delivery of the Certificates.
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Section 8.2. Official Statement.
The President, Business Manager, and the Underwriter are hereby authorized and directed to
provide for the preparation and distribution of a Preliminary Official Statement describing the
Certificates (the “Preliminary Official Statement”). After the Certificates have been sold, the
President and Business Manager shall make such completions, omissions, insertions and changes
in the Preliminary Official Statement not inconsistent with this Resolution as are necessary or
desirable to complete it as a final Official Statement for purposes of Rule 15c2-12(e)(3) of the
Securities and Exchange Commission.
To comply with paragraph (b) (3) of Rule 15c2-12 of the Securities and Exchange Commission
under the Securities Exchange Act of 1934 (the “Rule”) and with Rule G-32 and all other
applicable rules of the Municipal Securities Rulemaking Board, the School District agrees to
deliver to the Underwriter, the Official Statement (which shall be a final official statement, as such
term is defined in the Rule, as of its date) in an electronic format as prescribed by the MSRB.
Section 8.3. Disposition of Certificate Proceeds.
The proceeds of the sale of the Certificates shall be deposited in the Capital Outlay Fund and shall
be used by the School District to provide funds for school improvements including completing the
new High School Project and the costs of issuing the certificates.
Section 8.4. Tax Matters.
(a) The School District covenants and agrees with the registered owners from time to time of the
Certificates that it will not take or permit to be taken by any of its officers, employees or agents
any action which would cause the interest on the Certificates to become includable in gross income
for federal income tax purposes under the Code and applicable Treasury Regulations (the
“Regulations”), and covenants to take any and all actions within its powers to ensure that the basic
interest on the Certificates will not become includable in gross income for federal income tax
purposes under the Code and the Regulations.
(b) The President and the Business Manager, being the officers of the District charged with the
responsibility for issuing the Certificates pursuant to this Resolution are hereby authorized and
directed to execute and deliver to the Underwriter thereof a certificate in accordance with the
provisions of Section 148 of the Code, and Section 1.148-2(b) of the Regulations, stating that on
the basis of facts, estimates and circumstances in existence on the date of issue and delivery of the
Certificates, it is reasonably expected that the proceeds of the Certificates will be used in a manner
that would not cause the Certificates to be “arbitrage bonds” within the meaning of Section 148 of
the Code and the Regulations.
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ARTICLE IX
MISCELLANEOUS
Section 9.1. Failure to Present Certificates.
(a) Subject to the provisions of Section 4.6 hereof, in the event any Certificate shall not be
presented for payment when the principal or redemption price hereof becomes due, either at
maturity or at the date fixed for prior redemption thereof or otherwise, and in the event monies
sufficient to pay such Certificate shall be held by the Registrar and Paying Agent for the benefit
of the Owner thereof, all liability of the School District to such Owner for the payment of such
Certificate shall forthwith cease, determine, and be completely discharged. Whereupon, the
Registrar and Paying Agent shall hold such monies, without liability for interest thereon, for the
benefit of the Owner of such Certificate who shall thereafter be restricted exclusively to such
monies for any claim under this Resolution or on, or with respect to, said Certificates.
(b) If any Certificate shall not be presented for payment within a period of six years following the
date when such Certificate becomes due, whether by maturity or otherwise, the Registrar and
Paying Agent shall, subject to the provisions of any applicable escheat or other similar law, pay to
the School District any monies then held by the Registrar and Paying Agent for the payment of
such Certificate and such Certificate shall (subject to the defense of any applicable statute of
limitation) thereafter constitute an unsecured obligation of the School District.
Section 9.2. Payments Due on Saturdays, Sundays, and Holidays.
In any case where the date of maturity or interest on or principal of any Certificates, or the date
fixed for redemption of any Certificates, shall be a Saturday or Sunday or shall be, at the place
designated for payment, a legal holiday or a day on which banking institutions similar to the
Registrar and Paying Agent are authorized by law to close, then the payment of the interest on, or
the principal, or the redemption price of, such Certificate need not be made on such date but must
be made on the next succeeding day not a Saturday, Sunday, or a legal holiday or a day upon which
banking institutions similar to the Registrar and Paying Agent are authorized by law to close, with
the same force and effect as if made on the date of maturity or the date fixed for redemption, and
no interest shall accrue for the period after such date.
Section 9.3. Miscellaneous Acts.
The appropriate officers of the School District are hereby authorized, empowered, and directed to
do any and all such acts and things, and to execute, acknowledge, deliver, and, if applicable file or
record, or cause to be filed or recorded, in any appropriate public offices, all such documents,
instruments, and certifications, in addition to those acts, things, documents, instruments, and
certifications hereinbefore authorized and approved, as may, in their discretion, be necessary or
desirable to implement or comply with the intent of this Resolution, or any of the documents herein
authorized and approved, or for the authorization, issuance, and delivery by the School District of
the Certificates.
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Section 9.4. Amendment.
The School Board is hereby authorized to make such amendments to this Resolution as will not
impair the rights of the Certificateholders.
Section 9.5. No Recourse Under Certificate Resolution or on Certificates.
All stipulations, promises, agreements, and obligations of the School District contained in this
Resolution shall be deemed to be the stipulations, promises, agreements, and obligations of the
School District and not of any officer, director, or employee of the School District in his or her
individual capacity, and no recourse shall be had for the payment of the principal of or interest on
the Certificates or for any claim based thereon or this Resolution against any officer, director, or
employee of the School District or against any official or individual executing the Certificates.
Section 9.6. Partial Invalidity.
If any one or more of the provisions of this Resolution, or of any exhibit or attachment thereto,
shall be held invalid, illegal, or unenforceable in any respect, by final decree of any court of lawful
jurisdiction, such invalidity, illegality, or unenforceability shall not affect any other provision
hereof, or of any exhibit or attachment thereto, but this Resolution, and the exhibits and
attachments thereto, shall be construed the same as if such invalid, illegal, or unenforceable
provision had never been contained herein, or therein, as the case may be.
Section 9.7. Continuing Disclosure.
The School District hereby covenants and agrees that it will provide financial information and
material event notices as required by Rule 15c2-12 of the Securities Exchange Commission for the
Certificates. The President is authorized to execute at the Closing of the sale of the Certificates, an
agreement for the benefit of and enforceable by the owners of the Certificates specifying the details
of the financial information and material event notices to be provided and its obligations relating
thereto. Failure of the School District to 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 of the Certificates to take such actions and to initiate such
proceedings as shall be necessary and appropriate to cause the School District to comply with its
undertaking as set forth herein and in said agreement, including the remedies of mandamus and
specific performance.
Section 9.8. Conflicting Resolutions Repealed.
All resolutions or parts thereof in conflict herewith are, to the extent of such conflict, hereby
repealed.
Section 9.9. Post Issuance Compliance.
The School District does hereby adopt Meierhenry Sargent Post-Issuance Compliance Policy and
Tax-Advantaged Obligations and Continuing Disclosure with regard to the Certificates attached
hereto. The School District appoints the Business Manager as its chief post issuance compliance
officer.
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Section 9.10. Effective Date.
This Resolution shall take effect from and after its adoption, the welfare of the School District
requiring it.
Said motion was seconded by Member _______________ and upon vote being taken the
following voted AYE:
and the following voted NAY:
ATTEST: President
Business Manager
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EXHIBIT A-(FORM OF CERTIFICATES)
UNITED STATES OF AMERICA
STATE OF SOUTH DAKOTA
LIMITED TAX CAPITAL OUTLAY CERTIFICATES, SERIES 2024
REGISTERED REGISTERED
No. $ .00
Interest Rate Maturity Date Certificate Date CUSIP No.

% , 2024
Registered Owner: Cede & Co.

55 Water Street, 1st Floor.
New York, New York 10041
Tax ID #13-2555119
Principal Amount: AND NO\100 DOLLARS

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THE CERTIFICATE SET FORTH ON THE
FOLLOWING PAGES, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET
FORTH AT THIS PLACE.
It is hereby certified and recited that all conditions, acts and things required by law to exist or to be done precedent to
and in the issuance of this Certificate did exist, have happened, been done and performed in regular and due form and time as
required by law.
This Certificate shall not be valid or become obligatory for any purpose or be entitled to any benefit or security under the
Resolution until it shall have been authenticated by the execution by the Registrar of the certificate of authentication endorsed
hereon.
IN WITNESS WHEREOF, the School District has caused this Certificate to be signed by the manual or facsimile
signature of its President of the School Board of the Mitchell School District 17-2 and to be countersigned by the manual or facsimile
signature of its Business Manager all as of the Certificate Date specified above.
ATTEST: MITCHELL SCHOOL DISTRICT 17-2,

SOUTH DAKOTA
Business Manager
By: President of the School Board
COUNTERSIGNED:
Resident Attorney
CERTIFICATE OF AUTHENTICATION
This Certificate is a Certificate of the series designated therein and has been issued under the provisions of the within-
mentioned Resolution and the date of its authentication is _____________, 2024.
U.S. Bank Trust Company, National Association,

St. Paul, Minnesota
Certificate Registrar and Paying Agent
By: _________________________________
Authorized Officer
38
KNOW ALL MEN BY THESE PRESENTS: That the Mitchell School District 17-2, Mitchell (the “School District”), in Davison and
Hanson Counties, South Dakota, hereby acknowledges itself to owe and for value received promises to pay the Principal Amount,
to the Registered Owner mentioned above in lawful money of the United States of America, together with interest thereon from the
Certificate Date mentioned above at the Interest Rate mentioned above calculated on the basis of twelve 30 day months (30/360).
The interest hereon is payable _______________, and semiannually thereafter on _____________ and __________________
(each an “Interest Payment Date”) in each year to maturity or earlier redemption by wire transfer, check or draft mailed to the
Registered Owner at its address as it appears on the Certificate registration books of the School District maintained by U.S. Bank
Trust Company, National Association, St. Paul, Minnesota, as Certificate registrar and paying agent (the “Registrar”), on the close
of business on the ___________ day (whether or not a business day) of the calendar month next preceding each interest payment
date. The principal hereof due at maturity or upon redemption prior to maturity is payable at the office of Registrar upon
presentation and surrender of this Certificate at maturity or upon earlier redemption. The principal of, premium (if any) and interest
on this Certificate is payable in any coin or currency of the United States of America which, at the time of payment, is legal tender
for the payment of public and private debts.
This Certificate is one of an authorized issue of Certificates limited in aggregate principal amount to a maximum of
$_____________ (the “Certificates”) all of like date and tenor except as to maturity, interest rates and privileges of redemption,
the proceeds of which, combined with interest earnings, will be used to fund school improvements including completing the new High
School Project and the costs of issuing the Certificates pursuant to a resolution duly and regularly adopted by the School District
(the “Certificate Resolution”), and are subject to all the provisions and limitations of the Resolution and Chapters 13-16 and 6-8B,
South Dakota Codified Laws, as amended. The District has levied an irrepealable Capital Outlay levy in an amount not to exceed
three dollars per thousand of taxable valuation for the payment of the Certificates. In addition, to further secure payment of the
Certificates, the School District has pledged all of its right, title, and interest in and to State Aid to Education under Title 13 of the
South Dakota Codified Laws (“Pledged State Aid”) and has entered into a State Aid Pledge Agreement with the South Dakota
Health and Educational Facilities Authority, U.S. Bank Trust Company, National Association, St. Paul, Minnesota and the South
Dakota Department of Education pursuant to which State Aid to Education may be applied to pay principal and interest on the
Certificates and any other Certificates issued by the School District secured on a parity with the Certificates.
Redemption Provisions
Additional Certificates
The Resolution authorizing the issuance of the Certificates permits the issuance of additional capital outlay certificates payable
from the Capital Outlay Fund of the District, provided that the School Board first determines that a Capital Outlay Fund tax levy of
not more than $3 per $1,000 of taxable valuation will afford debt service coverage for all Outstanding Capital Outlay Certificates,
plus the additional capital outlay certificates proposed to be issued, of at least 1.25 times. The property tax levy for any such
additional certificates, together with the levy for then all Outstanding Capital Outlay Certificates described herein and any other
Capital Outlay Fund purposes, would be limited to $3 per $1,000 in total. Such additional certificates would have a parity claim
with all the then Outstanding Capital Outlay Certificates against property tax revenues received into the Capital Outlay Fund of the
District. In addition, if a State Aid Pledge Agreement is executed and delivered in connection with the issuance of such additional
Certificates, such Certificates shall also have a parity claim on the State Aid to Education.
This Certificate is transferable by the registered holder hereof in person or by his attorney duly authorized in writing at the office of
the Certificate Registrar in St. Paul, Minnesota, but only in the manner, subject to the limitations and upon payment of the charges
provided in the Certificate Resolution, and upon surrender and cancellation of this Certificate. Upon such transfer a new Certificate
or Certificates of authorized denomination of the same maturity and for the same aggregate principal amount will be issued to the
transferee in exchange therefore.
The School District and the Certificate Registrar may deem and treat the registered holder hereof as the absolute owner hereof
and neither the School District nor the Certificate Registrar shall be affected by any notice to the contrary.
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CERTIFICATE OPINION
Mitchell School District 17-2

Davison and Hanson Counties, South Dakota
$____________ Limited Tax Capital Outlay Certificates, Series 2024
Ladies and Gentlemen:
We have acted as bond counsel in connection with the issuance by the Mitchell School District 17-2 (the “Issuer”) of
$_____________ Limited Tax Capital Outlay Certificates, Series 2024, dated ________, (the “Certificates”). We have examined
such certified proceedings and other papers as we deem necessary to render this opinion.
We have not been engaged or undertaken to review the accuracy, completeness or sufficiency of the Official Statement
or other offering material relating to the Certificates and we express no opinion relating thereto.
As to questions of fact material to our opinion, we have relied upon the certified proceedings and other certifications of
public officials furnished to us, without undertaking to verify such facts by independent investigation.
Based upon the foregoing, we are of the opinion that, under existing law:
1. The Issuer is duly created and validly existing as a body corporate and politic and public instrumentality of the State
of South Dakota with the corporate power to adopt and perform the Resolution and issue the Certificates.
2. A Resolution has been duly adopted by the Issuer on ________________ and constitutes a valid and binding limited
obligation of the Issuer enforceable upon the Issuer.
3. The Resolution levies ad valorem taxes not in excess of three dollars per thousand annually upon all of the taxable
property in the District, for the capital outlay fund of the District, from which fund, said Certificates and interest thereon are payable.
4. The Bonds are additionally secured by the School District’s pledge of all of its right, title, and interest in and to State
Aid to Education under Title 13 of the South Dakota Codified Laws and the School District has entered into a State Aid Pledge
Agreement (the “State Aid Pledge Agreement”) with the South Dakota Health and Educational Facilities Authority, U.S. Bank Trust
Company, National Association, and the South Dakota Department of Education in furtherance of such pledge.
5. The District has irrevocably authorized pursuant to a State Aid Pledge Agreement and directed the South Dakota
Health and Educational Facilities Authority (the “Authority”) to intercept from time to time, as necessary, State of South Dakota
appropriated funds to which the District is entitled, and to transfer to the paying agent, from such intercepted funds, the amount
necessary to pay principal of and interest then due on the Certificates.
6. The Certificates have been duly authorized, executed and delivered by the Issuer and are valid and binding limited
obligations of the Issuer, payable solely from the sources provided therefore in the Resolution.
7. The interest on the Certificates is excluded from gross income for federal income tax purposes and is not an item of
tax preference for purposes of the federal alternative minimum tax; however, such interest is taken into account in determining the
annual adjusted financial statement income of certain corporations for the purpose of computing the alternative minimum tax
imposed on such corporations. The opinions set forth in the preceding sentence are subject to the condition that the Issuer comply
with all requirements of the Internal Revenue Code of 1986 as amended, that must be satisfied subsequent to the issuance of the
Certificates in order that interest thereon be, or continue to be, excluded from gross income for federal income tax purposes. The
Issuer has covenanted to comply with each such requirement. Failure to comply with certain of such requirements may cause the
inclusion of interest on the Certificates in gross income for federal income tax purposes to be retroactive to the date of issuance of
the Certificates. We express no opinion regarding other federal tax consequences arising with respect to the Certificates.
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8. Under existing law, the interest on the Bonds is includible in “taxable income” for the State of South Dakota income
tax purposes when the recipient is a “financial institution” as defined by Chapter 10-43, South Dakota Codified Laws, according to
present state laws, regulations and decisions. We express no further opinions regarding other South Dakota tax consequences
arising with regard to the Bonds.
It is to be understood that the rights of the holders of the Certificates and the enforceability thereof may be subject to
bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting creditors' rights heretofore or hereafter enacted
to the extent constitutionally applicable and that their enforcement may be subject to the exercise of judicial discretion in accordance
with general principles of equity and subject to regulatory requirements under the laws of the United States and of the State of
South Dakota.
Meierhenry Sargent LLP
AS PROVIDED IN THE RESOLUTION REFERRED TO HEREIN, UNTIL THE TERMINATION OF THE SYSTEM OF BOOK-
ENTRY-ONLY TRANSFERS THROUGH DEPOSITORY TRUST COMPANY, NEW YORK, NEW YORK (TOGETHER WITH ANY
SUCCESSOR SECURITIES DEPOSITORY APPOINTED PURSUANT TO THE RESOLUTION, “DTC”), AND
NOTWITHSTANDING ANY OTHER PROVISIONS OF THE RESOLUTION TO THE CONTRARY, A PORTION OF THE
PRINCIPAL AMOUNT OF THIS CERTIFICATE MAY BE PAID OR REDEEMED WITHOUT SURRENDER HEREOF TO THE
REGISTRAR. DTC OR A NOMINEE, TRANSFEREE OR ASSIGNEE OF DTC OF THIS CERTIFICATE MAY NOT RELY UPON
THE PRINCIPAL AMOUNT INDICATED HEREON AS THE PRINCIPAL AMOUNT HEREOF OUTSTANDING AND UNPAID.
THE PRINCIPAL AMOUNT HEREOF OUTSTANDING AND UNPAID SHALL FOR ALL PURPOSES BE THE AMOUNT
DETERMINED IN THE MANNER PROVIDED IN THE RESOLUTION.
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED OFFICER OF DTC (A) TO THE REGISTRAR FOR
REGISTRATION OF TRANSFER OR EXCHANGE OR (B) TO THE REGISTRAR FOR PAYMENT OF PRINCIPAL, AND ANY
CERTIFICATE ISSUED IN REPLACEMENT HEREOF OR SUBSTITUTION HEREFOR IS REGISTERED IN THE NAME OF DTC
AND ANY PAYMENT IS MADE TO DTC OR ITS NOMINEE, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL BECAUSE ONLY THE REGISTERED OWNER HEREOF, DTC OR
ITS NOMINEE, HAS AN INTEREST HEREIN.
(Form of Assignment)
FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto
the within Certificate and all rights thereunder, and hereby irrevocably constitutes and appoints
attorney to transfer the within Certificate on the books kept for registration thereof, with full power of substitution in the premises.
Dated:
NOTICE: The signature to this Assignment must correspond with

the name as it appears upon the face of the within Certificate in
every particular, without alteration or enlargement or any change
whatever.
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ATTACHMENT TO RESOLUTION ______
Post-Issuance Compliance Policy for Tax-Exempt and
Tax-Advantaged Obligations and Continuing Disclosure
Definitions
“Compliance Officer” means the Business Manager of the Issuer.

“Issuer” means the Mitchell School District 17-2.
Statement of Purpose
This Post-Issuance Compliance Policy (the “Policy”) sets forth specific policies of the Issuer
designed to monitor post-issuance compliance:
(i) with applicable provisions of the Internal Revenue Code of 1986, as amended
(the “Code”), and regulations promulgated thereunder (“Treasury
Regulations”) for obligations issued by the Issuer on tax-exempt or tax-
advantaged basis (''Obligations”); and
(ii) with applicable requirements set forth in certificates and agreement(s)

(“Continuing Disclosure Agreements”) providing for ongoing disclosure in
connection with the offering of obligations to investors (“Offerings”), for
obligations (whether or not tax-exempt/tax-advantaged) subject to the
continuing disclosure requirements of Rule 15c2-12 (the “Rule”) promulgated
by the Securities and Exchange Commission (“SEC”) under the Securities
Exchange Act of 1934.
This Policy documents practices and describes various procedures and systems designed to
identify on a timely basis facts relevant to demonstrating compliance with the requirements that
must be satisfied subsequent to the issuance of Obligations in order that the interest on such
Obligations continue to be eligible to be excluded from gross income for federal income tax
purposes or that the Obligations continue to receive tax-advantaged treatment. The federal tax
law requirements applicable to each particular issue of Obligations will be detailed in the
arbitrage or tax certificate prepared by bond counsel and signed by officials of the Issuer and the
post-closing compliance checklist provided by bond counsel with respect to that issue. This
Policy establishes a permanent, ongoing structure of practices and procedures that will facilitate
compliance with the requirements for individual borrowings.
This Policy similarly documents practices and describes various procedures and systems
designed to ensure compliance with Continuing Disclosure Agreements, by preparing and
disseminated related reports and information and reporting “material events” for the benefit of
the holders of the Issuer's obligations and to assist the Participating Underwriters (within the
meaning of the Rule) in complying with the Rule.
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The Issuer recognizes that compliance with pertinent law is an on-going process, necessary
during the entire term of the obligations, and is an integral component of the Issuer's debt
management. Accordingly, the analysis of those facts and implementation of the Policy will
require on-going monitoring and consultation with bond counsel and the Issuer's accountants and
advisors.
General Policies and Procedures
The following policies relate to procedures and systems for monitoring post-issuance
compliance generally.
A. The Compliance Officer shall be responsible for monitoring post-issuance compliance

issues.
B. The Compliance Officer will coordinate procedures for record retention and review
of such records.
C. All documents and other records relating to Obligations issued by the Issuer shall be
maintained by or at the direction of the Compliance Officer. In maintaining such
documents and records, the Compliance Officer will comply with applicable Internal
Revenue Service (“IRS”) requirements, such as those contained in Revenue Procedure
97-22.
D. The Compliance Officer shall be aware of options for voluntary corrections for failure
to comply with post-issuance compliance requirements (such as remedial actions
under Section 1.141-12 of the Regulations and the Treasury's Tax-Exempt Bonds
Voluntary Closing Agreement Program) and take such corrective action when
necessary and appropriate.
E. The Compliance Officer will review post-issuance compliance procedures and systems
on a periodic basis, but not less than annually.
Issuance of Obligations - Documents and Records
With respect to each issue of Obligations, the Compliance Officer will:
A. Obtain and store a closing binder and/or CD or other electronic copy of the relevant
and customary transaction documents (the “Transcript”).
B. Confirm that bond counsel has filed the applicable information report (e.g., Form
8038, Form 8038-G, Form 8038-CP) for such issue with the IRS on a timely basis.
C. Coordinate receipt and retention of relevant books and records with respect to the
investment and expenditure of the proceeds of such Obligations with other applicable
staff members of the Issuer.
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Arbitrage
The following policies relate to the monitoring and calculating of arbitrage and compliance
with specific arbitrage rules and regulations.
The Compliance Officer will:
A. Confirm that a certification of the initial offering prices of the Obligations with such
supporting data, if any, required by bond counsel, is included in the Transcript.
B. Confirm that a computation of the yield on such issue from the Issuer's financial
advisor or bond counsel (or an outside arbitrage rebate specialist) is contained in the
Transcript.
C. Maintain a system for tracking investment earnings on the proceeds of the Obligations.
D. Coordinate the tracking of expenditures, including the expenditure of any investment

earnings. If the project(s) to be financed with the proceeds of the Obligations will be
funded with multiple sources of funds, confirm that the Issuer has adopted an
accounting methodology that maintains each source of financing separately and
monitors the actual expenditure of proceeds of the Obligations.
E. Maintain a procedure for the allocation of proceeds of the issue and investment
earnings to expenditures, including the reimbursement of pre-issuance expenditures.
This procedure shall include an examination of the expenditures made with proceeds
of the Obligations within 18 months after each project financed by the Obligations
is placed in service and, if necessary, a reallocation of expenditures in accordance
with Section 1.148-6(d) of the Treasury Regulations.
F. Monitor compliance with the applicable “temporary period” (as defined in the Code
and Treasury Regulations) exceptions for the expenditure of proceeds of the issue, and
provide for yield restriction on the investment of such proceeds if such exceptions are
not satisfied.
G. Ensure that investments acquired with proceeds of such issue are purchased at fair
market value. In determining whether an investment is purchased at fair market value,
any applicable Treasury Regulation safe harbor may be used.
H. Avoid formal or informal creation of funds reasonably expected to be used to pay debt
service on such issue without determining in advance whether such funds must be
invested at a restricted yield.
I. Consult with bond counsel prior to engaging in any post-issuance credit enhancement
transactions or investments in guaranteed investment contracts.
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J. Identify situations in which compliance with applicable yield restrictions depends
upon later investments and monitor implementation of any such restrictions.
K. Monitor compliance with six-month, 18-month or 2-year spending exceptions to the

rebate requirement, as applicable.
L. Procure a timely computation of any rebate liability and, if rebate is due, to file a Form
8038-T and to arrange for payment of such rebate liability.
M. Arrange for timely computation and payment of “yield reduction payments” (as such
term is defined in the Code and Treasury Regulations), if applicable.
Private Activity Concerns
The following polices relate to the monitoring and tracking of private uses and private payments
with respect to facilities financed with the Obligations.
A. Maintain records determining and tracking facilities financed with specific Obligations
and the amount of proceeds spent on each facility.
B. Maintain records, which should be consistent with those used for arbitrage purposes,
to allocate the proceeds of an issue and investment earnings to expenditures, including
the reimbursement of pre-issuance expenditures.
C. Maintain records allocating to a project financed with Obligations any funds from
other sources that will be used for otherwise non-qualifying costs.
D. Monitor the expenditure of proceeds of an issue and investment earnings

for qualifying costs.
E. Monitor private use of financed facilities to ensure compliance with applicable

limitations on such use. Examples of potential private use include:
1. Sale of the facilities, including sale of capacity rights;
2. Lease or sub-lease of the facilities (including leases, easements or

use arrangements for areas outside the four walls, e.g., hosting of
cell phone towers) or leasehold improvement contracts;
3. Management contracts (in which the Issuer authorizes a third party to

operate a facility, e.g., cafeteria) and research contracts;
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4. Preference arrangements (in which the Issuer permits a third party
preference, such as parking in a public parking lot);
5. Joint-ventures, limited liability companies or partnership arrangements;
6. Output contracts or other contracts for use of utility facilities (including

contracts with large utility users);
7. Development agreements which provide for guaranteed payments or

property values from a developer;
8. Grants or loans made to private entities, including special assessment

agreements; and
9. Naming rights arrangements.
Monitoring of private use should include the following:
1. Procedures to review the amount of existing private use on a periodic basis;

and
2. Procedures for identifying in advance any new sale, lease or license,

management contract, sponsored research arrangement, output or utility
contract, development agreement or other arrangement involving private
use of financed facilities and for obtaining copies of any sale agreement,
lease, license, management contract, research arrangement or other
arrangement for review by bond counsel.
If the Compliance Officer identifies private use of facilities financed with tax-exempt or tax-
advantaged debt, the Compliance Officer will consult with the Issuer's bond counsel to determine
whether private use will adversely affect the tax status of the issue and if so, what remedial action
is appropriate. The Compliance Officer should retain all documents related to any of the above
potential private uses.
Qualified Tax-Exempt Obligations
If the Issuer issues qualified tax-exempt obligations in any year, the Compliance Officer shall
monitor all tax-exempt financings (including lease purchase arrangements and other similar
financing arrangements and conduit financings on behalf of 501(c)(3) organizations) to assure
that the $10,000,000 “Small Issuer” limit is not exceeded.
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Federal Subsidy Payments
The Compliance Officer shall be responsible for the calculation of the amount of any federal
subsidy payments and the timely preparation and submission of the applicable tax form and
application for federal subsidy payments for tax-advantaged obligations such as Build America
Bonds, New Clean Renewable Energy Bonds and Qualified School Construction Bonds.
Reissuance
The following policies relate to compliance with rules and regulations regarding the reissuance of
Obligations for federal law purposes.
The Compliance Officer will identify and consult with bond counsel regarding any post-
issuance change to any terms of an issue of Obligations which could potentially be treated as a
reissuance for federal tax purposes.
Record Retention
The following polices relate to retention of records relating to the Obligations issued. The
Compliance Officer will:
A. Coordinate with staff regarding the records to be maintained by the Issuer to establish
and ensure that an issue remains in compliance with applicable federal tax
requirements for the life of such issue.
B. Coordinate with staff to comply with provisions imposing specific

recordkeeping requirements and cause compliance with such provisions, where
applicable.
C. Coordinate with staff to generally maintain the following:
1. The Transcript relating to the transaction (including any arbitrage or

other tax certificate and the bond counsel opinion);
2. Documentation evidencing expenditure of proceeds of the issue;
3. Documentation regarding the types of facilities financed with the

proceeds of an issue, including, but not limited to, whether such facilities
are land, buildings or equipment, economic life calculations and
information regarding depreciation.
4. Documentation evidencing use of financed property by public and private

entities (e.g., copies of leases, management contracts, utility user
agreements, developer agreements and research agreements);
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5. Documentation evidencing all sources of payment or security for the issue;
and
6. Documentation pertaining to any investment of proceeds of the issue

(including the purchase and sale of securities, SLGs subscriptions, yield
calculations for each class of investments, actual investment income
received by the investment of proceeds, guaranteed investment contracts,
and rebate calculations).
D. Coordinate the retention of all records in a manner that ensures their complete access
to the IRS.
E. Keep all material records for so long as the issue is outstanding (including any
refunding), plus seven years.
Continuing Disclosure
Under the provisions of SEC Rule 15c2-12 (the “Rule”), Participating Underwriters (as defined
in the Rule) are required to determine that issuers (such as the Issuer) have entered into written
Continuing Disclosure Agreements to make ongoing disclosure in connection with Offerings
subject to the Rule. Unless the Issuer is exempt from compliance with the Rule or the continuing
disclosure provisions of the Rule as a result of certain permitted exemptions, the Transcript for
each issue of related obligations will include a Continuing Disclosure Agreement executed by
the Issuer.
In order to monitor compliance by the Issuer with its Continuing Disclosure Agreements, the
Compliance Officer will, if and as required by such Continuing Disclosure Agreements:
A. Assist in the preparation or review of annual reports (''Annual Reports”) in the form
required by the related Continuing Disclosure Agreements.
B. Maintain a calendar, with appropriate reminder notifications, listing the filing due
dates relating to dissemination of Annual Reports, which annual due date is generally
expressed as a date within a certain number of days (e.g., 365 days) following the end
of the Issuer's fiscal year (the “Annual Report Due Date”), as provided in the related
Continuing Disclosure Agreements.
C. Ensure timely dissemination of the Annual Report by the Annual Report Due Date, in
the format and manner provided in the related Continuing Disclosure Agreements,
which may include transmitting such filing to the Municipal Securities Rulemaking
Board (“MSRB”) through the Electronic Municipal Market Access (“EMMA”)
System at www.emma.msrb.org in the format prescribed by the MSRB.
D. Monitor the occurrence of any “Material Event” (as defined in the Continuing
Disclosure Agreements) and timely file notice of the occurrence of any such Material
Event in the manner provided under the Continuing Disclosure Agreements. To be
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timely filed, such notice must be transmitted within 10 days (or such other time period
as set forth in the Continuing Disclosure Agreements) of the occurrence of such
Material Event.
E. Ensure timely dissemination of notice of any failure to perform under a Continuing

Disclosure Agreement, if and as required by the Continuing Disclosure Agreement.
F. Respond to requests, or ensure that the Issuer Contact (as defined in the Continuing
Disclosure Agreement) responds to requests, for information under the Rule, as
provided in the Continuing Disclosure Agreements.
G. Monitor the performance of any dissemination agent(s) engaged by the Issuer to assist
in the performance of any obligation under the Continuing Disclosure Agreements.
PASSED and ADOPTED by the Mitchell School District 17-2, this ____________day of
________________________, ________.
__________________________________
President of the School Board
ATTEST:
__________________________________
Business Manager
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Agenda Item
For presentation at the December 11, 2023, meeting of the school board.
Subject: Board Consideration of Adoption of Resolution Authorizing the Execution, Terms,

Issuance, Sale, and Payment of General Obligation Bonds for Mitchell High School
Construction Project.

Board Action X
Board Information
Scheduled report
Description of the item (including nature of the problem, program covered, impact, board
action desired, etc.)
The financing for the completion of the Mitchell High School Construction project to add the
High School Gymnasium, locker rooms, weight room, auxiliary gym, multi-purpose room,
wrestling room, and offices is the issuance of $17,000,000 in General Obligation Bonds as
approved by the voters in June 2023. I am requesting Board approval of the attached
resolution to begin that process.
Included here as support documents are:

1. The Extract of Minutes which will demonstrate school board approval.
2. The actual Resolution authorizing issuance, etc. of General Obligation Bonds.
3. The State Aid Pledge Agreement which allows the Mitchell School District to
associate with the State of South Dakota in order to secure the best possible credit
rating, and thus the best possible interest rates, and pledges state aide toward the
repayment as a means of protecting the State of South Dakota.
4. The draft debt service schedule and related documents.
Theresa Kriese, Business Manager

55
EXTRACT OF MINUTES OF MEETING OF THE
SCHOOL BOARD OF MITCHELL SCHOOL DISTRICT 17-2
Pursuant to due call and notice thereof, a meeting of the School Board of Mitchell School
District 17-2, Davison and Hanson Counties, State of South Dakota, was held on ___________
___, 2024, at ______________ o’clock p.m.
The following members were present:
and the following were absent:
Thereupon the President declared that a quorum was present and the meeting opened for
transaction of business.
Member, _____________, introduced the following resolution and moved its adoption:
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RESOLUTION NO. _______
RESOLUTION AUTHORIZING THE EXECUTION, TERMS, ISSUANCE AND

PAYMENT OF GENERAL OBLIGATION BONDS, SERIES 2024, TO BE ISSUED IN
ONE OR MORE SERIES, IN THE AGGREGATE PRINCIPAL AMOUNT OF NOT TO
EXCEED SEVENTEEN MILLION DOLLARS ($17,000,000) OF THE MITCHELL
SCHOOL DISTRICT 17-2 OF DAVISON AND HANSON COUNTIES, SOUTH DAKOTA
AND AUTHORIZATION AND APPROVAL OF THE HEALTH AND EDUCATION
FACILITIES AUTHORITY IN STATE AID PLEDGE AGREEMENT.
WHEREAS, the voters of the Mitchell School District 17-2 authorized the issuance of general
obligation bonds at a special election held June 6, 2023. Approximately 82% of the voters voted
in favor of authorizing the Bonds for the purpose of financing school facilities, renovations,
improvements and additions, including completing the new High School Project by adding the
High School Gymnasium, locker rooms, weight room, auxiliary gym, gymnastics/multipurpose
room, cheer/dance space, wrestling room, office space, and furnishing and equipping the same and
the costs of issuing the bonds including, but not limited to, Underwriter’s discount, credit
enhancement and rating agency fees; and
WHEREAS, the School Board has determined that the issuance of general obligation bonds of the
School District is in the best interests of School District; and
School District to issue General Obligation Bonds, Series 2024, to be issued in one or more series,
of the School District.
School District to participate in the Pledged State Aid Program authorized under SDCL §13-19-
27 and SDCL §13-16A-97 administered by the South Dakota Health and Educational Facilities
Authority and to pledge the School District’s right to receive state aid to education to secure
payment of such Bonds.
NOW THEREFORE, BE IT RESOLVED BY THE SCHOOL BOARD OF THE

MITCHELL SCHOOL DISTRICT 17-2 OF DAVISON AND HANSON COUNTIES, AS
FOLLOWS:
ARTICLE I
DEFINITIONS
Section 1.1. Definition of Terms.
In addition to the words and terms elsewhere defined in this Bond Resolution, the following words
and terms as used herein, whether or not the words have initial capitals, shall have the following
meanings, unless the context or use indicates another or different meaning or intent, and such
57
definitions shall be equally applicable to both the singular and plural forms of any of the words
and terms herein defined:
"Act" means collectively SDCL Chapter 6-8B and Title 13, as amended.
"Authority" means the South Dakota Health and Educational Facilities Authority and any
successor or assigns.
"Authorized Officer of the School District" means the President of the School Board and the
Business Manager, or, in the case of any act to be performed or duty to be discharged, any other
member, officer, or employee of the School District then authorized to perform such act or
discharge such duty.
"Bonds" means not to exceed $17,000,000 in aggregate principal amount of General Obligation
Bonds, Series 2024, authorized and issued under this Resolution.
"Bond Counsel" means Meierhenry Sargent LLP, a firm of attorneys recognized as having
experience in matters relating to the issuance of state or local governmental obligations.
"Bond Payment Date" means such dates as are set forth in the Bond Purchase Agreement.
"Bond Purchase Agreement" means the agreement or agreements between the School District and
the Underwriter for the purchase of the Bonds.
"Bond Resolution" means this Resolution, duly adopted by the School Board on the date hereof,
as it may be amended from time to time.
"Bondholder", "Holder" and "Registered Owner" means the registered owner of a Bond, including
any nominee of a Depository.
"Book-Entry Form" or "Book-Entry System" means a form or system, as applicable, under which
physical bond certificates in fully registered form are issued to a Depository or to its nominee as
Registered Owner, with the certificated bonds being held by and "immobilized" in the custody of
such Depository, and under which records maintained by persons, other than the School District
or the Registrar and Paying Agent, constitute the written record that identifies, and records the
transfer of the beneficial "book-entry" interests in those bonds.
"Business Manager" means the Business Manager of the School District appointed pursuant to the
provisions of South Dakota Codified Laws Title 13 or, in the absence of such appointment or in
the event the person so appointed is unable or incapable of acting in such capacity, the person
appointed by the School Board to perform the duties otherwise performed by the Business
Manager, or his designee.
"Closing Date" means the date the Bonds are exchanged for value.
"Code" means the Internal Revenue Code of 1986, as amended, and the applicable regulations of
the United States Department of Treasury promulgated thereunder as in effect on the date of
issuance of the Bonds.
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"County Auditor" means the County Auditors of Davison and Hanson Counties, South Dakota.
"Delinquency" means the failure of the School District to deposit with the Registrar and Paying
Agent any amount due with respect to the Outstanding Bonds or any Parity Obligation on or before
the fifteenth day preceding an Interest Paying Date for any Outstanding Bonds or Parity Bonds.
"Delinquent Amount" means (i) regarding a Delinquency with respect to an Interest Payment Date,
all principal, interest, and other amounts coming due on the Bonds or Parity Obligations on such
date and on the next occurring Interest Payment Date, and (ii) regarding a Delinquency with respect
to an Interest Payment Date, all principal, interest, and other amounts coming due on the Bonds or
Parity Obligations on such date.
"Depository" means any securities depository that is a clearing agency under federal laws
operating and maintaining, with its participants or otherwise, a Book-Entry System, including, but
not limited to DTC.
"District" means the Mitchell School District 17-2.
"DOE" means the South Dakota Department of Education.
"DTC Participant(s)" means securities brokers and dealers, banks, trust companies and clearing
corporations that have access to the DTC system.
"DTC" means the Depository Trust Company, a limited purpose company organized under the
laws of the State of New York, and its successors and assigns.
"Improvements" mean the financing school facilities, renovations, improvements and additions,
including completing the new High School Project by adding the High School Gymnasium, locker
rooms, weight room, auxiliary gym, gymnastics/multipurpose room, cheer/dance space, wrestling
room, office space, and furnishing and equipping the same.
"Interest Payment Dates" means such dates as set forth in the Bond Purchase Agreement.
"Letter of Representation" means the Blanket Issuer Letter of Representations to DTC of the
School District.
"Mail" means delivery through the United States Postal Office or other delivery service, e-mail or
delivery through other electronic means.
"Official Statement" and "Preliminary Official Statement" means that Official Statement and
Preliminary Official Statement described in Section 8.2 hereof pertaining to the sale of the Bonds.
"Original Issue Discount or OID" means an amount by which the par value of a security exceeds
its public offering price at the time of its original issuance.
"Original Issue Premium or OIP" means the amount by which the public offering price of a security
at the time of its original issuance exceeds its par value.
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"Outstanding," "Bonds Outstanding," or "Outstanding Bonds" means, as of a particular date all
bonds issued and delivered under this Resolution except: (1) any bond paid or redeemed or
otherwise canceled by the School District at or before such date; (2) any bond for the payment of
which cash, equal to the principal amount thereof with interest to date of maturity, shall have
theretofore been deposited prior to maturity by the School District for the benefit of the Owner
thereof; (3) any bond for the redemption of which cash, equal to the redemption price thereof with
interest to the redemption date, shall have theretofore been deposited with the Registrar and Paying
Agent and for which notice of redemption shall have been mailed in accordance with this
Resolution; (4) any certificate in lieu of or in substitution for which another bond shall have been
delivered pursuant to this Resolution, unless proof satisfactory to the School District is presented
that any bond, for which a certificate in lieu of or in substitution therefore shall have been
delivered, is held by a bona fide purchaser, as that term is defined in Article 8 of the Uniform
Commercial Code of the State, as amended, in which case both the certificate in lieu of or in
substitution for which a new bond has been delivered and such new bond so delivered therefor
shall be deemed Outstanding; and, (5) any bond deemed paid under the provisions of Article VII
of this Resolution, except that any such bond shall be considered Outstanding until the maturity or
redemption date thereof only for the purposes of being exchanged, transferred, or registered.
"Parity Obligations" means any bond, note, certificate or other obligation of the School District
issued after the date hereof which is secured by Pledged State Aid and is still “outstanding” under
the resolution, indenture or other instrument pursuant to which it was issued.
"Paying Agent" means a commercial bank or regulated financial institution which is serving as the
Registrar and Paying Agent under Sections 4.3(c), 4.5, and 4.6, and Article VI of this Resolution
and who is also party to the State Pledge Agreement in the capacity of the "Paying Agent".
"Person" means an individual, partnership, corporation, trust, or unincorporated organization, or a

governmental entity or agency or political subdivision thereof.
"Pledged State Aid" means the state aid to education funds provided under Title 13 of South
Dakota Codified Laws, SDCL §13-19-27 and SDCL 1-16A-97 and administered by the Authority
in order to provide additional security for payment of the Bonds out of state aid to education
appropriated by the Legislature from time to time and payable to the School District.
"President" means the president of the School Board elected pursuant to the provisions of SDCL
13-8 or his or her designee acting on his or her behalf.
"Program" means the Authority’s State Aid Pledge Program authorized pursuant to SDCL §13-
19-27.
"Purchase Agreement" means the Bond Purchase Agreement or Agreements authorized pursuant
to and described in Section 8.1 hereof by and between the School District and the Underwriter.
"Rating Agency" means one or more of the following rating agencies: S&P Global Ratings,
Moody's Investors Service Inc. and Fitch IBCA, Inc.
"Record Date" means such date or dates as set forth in the Bond Purchase Agreement.
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"Registrar and Paying Agent" means the Business Manager, or any Registrar and Paying Agent
appointed by the Business Manager its successor or successors hereafter appointed in the manner
provided in Article VI hereof.
"Resolution" means this Resolution as it may be amended from time to time.
"Schedule" means the schedule which indicates the principal and interest payments on the Bonds.
"School Board" means the School Board of the School District elected pursuant to the provisions
of the SDCL Title 13.
"School District" means the Mitchell School District 17-2.
"State Aid Pledge Agreement" means the agreement in which the School District pledges its State
Aid to secure payment of the Bonds and any Parity Obligations.
"Underwriter" means Colliers Securities LLC, Sioux Falls, South Dakota.
"Vice-President" means the Vice-President of the School Board who may act for the President in
the absence of the President.
Section 1.2. References to Resolution.
The words "hereof", "herein", "hereunder", and other words of similar import refer to this
Resolution as a whole.
Section 1.3. References to Articles, Sections, Etc.
References to Articles, Sections, and other subdivisions of this Resolution are to the designated
Articles, Sections, and other subdivisions of this Resolution as originally adopted.
Section 1.4. Headings.
The headings of this Resolution are for convenience only and shall not define or limit the
provisions hereof.
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ARTICLE II
FINDINGS
Section 2.1.
It is hereby found and determined by the School Board as follows:
(a) The principal amount of the Bonds has been authorized by voters of the School District;
(b) The School District hereby determines that all limitations upon the issuance of Bonds have
been met and the Bonds are being authorized, issued and sold in accordance with the provisions
of this Resolution and the Act.
(c) The School District hereby finds and determines that it is in the best interest of the School
District to enter into a State Aid Pledge Agreement with the Authority pursuant to their Program.
ARTICLE III
AUTHORITY, PLEDGE, AND LEVY
Section 3.1. Authority.
It is declared necessary for the School District to finance the Improvements and issue, pursuant to,
and in accordance with the provisions of the Act, the Bond Resolution, and other applicable
provisions of law, General Obligation Bonds of the School District in the aggregate principal
amount of not to exceed $17,000,000, to be issued in one or more series.
Section 3.2. Pledge.
Pursuant to Article XIII § 5 of the State of South Dakota Constitution, the School District does
hereby provide for an annual tax sufficient to pay principal, premium if any, and interest when
due. The full faith, credit and unlimited taxing powers of said School District shall be and they
are hereby irrevocably pledged to the prompt and full payment of the principal of, premium, if
any, and interest on each and all of said Bonds as such principal and interest respectively become
due.
To provide moneys for payment of principal and interest when due, there is hereby levied upon all
taxable property in said District a direct, annual ad valorem tax, to be spread with other levies of
the School District upon the tax rolls in an amount sufficient to produce collected taxes in an
amount not less than the amount sufficient to pay principal, premium, if any, and interest when
due as indicated on a debt service schedule to be attached and made a part hereof.
The proceeds of said levies are hereby appropriated to, and shall be held in a separate sinking fund
and used for no purpose other than for payment of principal, premium, if any, and interest on said
Bonds; provided that, if any payment of interest or principal falls due when moneys in said sinking
fund are insufficient, the School District shall request and the County Auditors shall spread
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additional levies sufficient for payment of principal, premium, if any, and interest when due or the
same shall be advanced from any funds of the School District to said sinking fund.
Said levies shall be irrepealable so long as any of the Bonds or interest thereon shall remain unpaid,
except that the School Board of the School District and the County Auditors shall have the power
to reduce the levy as provided by state law.
The Business Manager is hereby directed to file a certified copy of this Resolution with the
Auditors, and this Resolution shall constitute authority to said Auditor and her successor in office
to spread said levy on the tax rolls for all years on the debt service schedule.
Section 3.3. Pledge of State Aid.
The School District pledges its Pledged State Aid to secure payment of the Bonds and any Parity
Obligations. In the event of a delinquency as defined in the State Aid Pledge Agreement, the
Pledged State Aid shall be applied to the Delinquent Amount as specified in the Delinquency
Notice.
Section 3.4. Deposit of Pledged Moneys.
Pursuant to the requirements of the Program, the School District shall deposit with the Registrar
and Paying Agent on or before the fifteenth day of the month preceding the principal and/or interest
payment coming due on the next Interest Payments Date.
ARTICLE IV
FORM, TERMS, EXECUTION, AND TRANSFER OF BONDS
Section 4.1. Authorized Bonds.
The aggregate principal amount of Bonds that may be issued under the Bonds Resolution shall not
exceed Seventeen Million and No/100 Dollars ($17,000,000).
Section 4.2. Form of Bonds; Execution.
(a) The Bonds are issuable only as fully registered Bonds, without coupons, in denominations of
Five Thousand Dollars ($5,000) or any integral multiple thereof (but no single Bond shall represent
installments of principal maturing on more than one date). All Bonds issued under the Resolution
shall be substantially in the form set forth in Exhibit A attached hereto, and by this reference
incorporated herein as fully as though copied. Exhibit A, the form of the Bond shall be on file with
the Business Manager and open to public inspection.
(b) The Bonds shall be executed in such manner as may be prescribed by applicable law in the
name and on behalf of the School District with the manual or facsimile signature of the President
of the School Board, attested by the manual or facsimile signature of the Business Manager, and
approved as to form and countersigned by a Resident Attorney by his manual or facsimile
signature.
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(c) In the event any officer whose manual or facsimile signature shall appear on any Bonds shall
cease to be such officer before the delivery of such Bonds, such manual or such facsimile signature
shall nevertheless be valid and sufficient for all purposes as if he or she had remained in office
until such delivery. Any Bonds may bear the facsimile signature of, or may be manually signed
by, such individuals who, at the actual time of the execution of such Bonds, were the proper
officers of the School District to sign such Bonds, although on the date of the adoption by the
School District of this Resolution, such individuals may not have been such officers.
Section 4.3. Maturities, Interest Rates, and Certain Other Provisions of Bonds.
(a) The Bonds shall become due and payable as set forth in the Bond Purchase Agreement. The
Bonds may be sold with O.I.P. and/or O.I.D.
(b) The Bonds shall be designated "General Obligation Bonds, Series 2024" or such other
designation as shall be determined by the School Board pursuant to Section 9.1 hereof. The Bonds
shall bear interest from their date or from the most recent interest payment date to which interest
has been paid or duly provided for, until the principal amount of the Bonds is paid, such interest
(computed upon the basis of a 360-day year of twelve 30-day months) being payable on Interest
Payment Dates. Interest on each Bond shall be paid by wire transfer, check or draft of the Paying
Agent, payable in lawful money of the United States of America, to the person in whose name
such Bond is registered at the close of business on the Record Date. The principal of the Bonds
shall be payable in lawful money of the United States of America at the principal office of the
Paying Agent on the Bond Payment Date. Each Bond shall state that it is issued pursuant to SDCL
6-8B.
(c) The Registrar and Paying Agent shall make all interest payments with respect to the Bonds
on each interest payment date directly to the registered owners as shown on the Bond registration
records maintained by the Registrar and Paying Agent as of the close of business on the Record
Date by wire transfer, check or draft mailed to such owners at their addresses shown on said Bond
registration records, without, except for final payment, the presentation or surrender of such
registered Bonds, and all such payments shall discharge the obligations of the School District in
respect of such Bonds to the extent of the payments so made. Payment of principal of and premium,
if any, on the Bonds shall be made upon presentation and surrender of such Bonds to the Registrar
and Paying Agent as the same shall become due and payable.
Section 4.4. Negotiability of Bonds.
All Bonds issued under this Resolution shall be negotiable, subject to the provisions for registration
and transfer contained in this Resolution and in the Bonds.
Section 4.5. Registration, Transfer and Exchange of Bonds.
(a) The Bonds are transferable only by presentation to the Registrar and Paying Agent by the
registered 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 and
signed with the name of the registered owner as it appears upon the face of the Bond(s)
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accompanied by appropriate documentation necessary to prove the legal capacity of any legal
representative of the registered owner. Upon receipt of the Bond(s) in such form and with such
documentation, if any, the Registrar and Paying Agent shall issue a new Bond or Bonds to the
assignee(s) in $5,000 denominations, or integral multiples thereof, as requested by the registered
owner requesting transfer. The Registrar and Paying Agent shall not be required to transfer or
exchange any Bond during the period commencing on a Record Date and ending on the
corresponding interest payment date of such Bond, nor to transfer or exchange any Bond after the
publication of notice calling such Bond for redemption has been made, nor to transfer or exchange
any Bond during the period following the receipt of instructions from the School District to call
such Bond for redemption; provided, the Registrar and Paying Agent, at its option, may make
transfers after any of said dates. No charge shall be made to any registered owner for the privilege
of transferring any Bonds, provided that any transfer tax relating to such transaction shall be paid
by the registered owner requesting transfer. The person in whose name any Bond shall be
registered shall be deemed and regarded as the absolute owner thereof for all purposes and neither
the School District nor the Registrar and Paying Agent shall be affected by any notice to the
contrary whether or not any payments due on the Bonds shall be overdue. Bonds, upon surrender
to the Registrar and Paying Agent, may, at the option of the registered owner, be exchanged for an
equal aggregate principal amount of Bonds of the same maturity in any authorized denomination
or denominations.
(b) Except as otherwise provided in this subsection, the Bonds shall be registered in the name of
Cede & Co., as nominee of DTC, which will act as securities depository for the Bond. References
in this Section to a Bond or the Bonds shall be construed to mean the Bond or the Bonds that are
held under the Book-Entry System. One Bond for each maturity shall be issued to DTC and
immobilized in its custody. Unless otherwise provided herein, a Book-Entry System shall be
employed, evidencing ownership of the Bonds in authorized denominations, with transfers of
beneficial ownership affected on the records of DTC and the DTC Participants pursuant to rules
and procedures established by DTC.
Each DTC Participant shall be credited in the records of DTC with the amount of such DTC
Participant’s interest in the Bonds. Beneficial ownership interests in the Bonds may be purchased
by or through DTC Participants. The holders of these beneficial ownership interests are herein
referred to as the "Beneficial Owners." The Beneficial Owners shall not receive the Bonds
representing their beneficial ownership interests. The ownership interests of each Beneficial
Owner shall be recorded through the records of the DTC Participant from which such Beneficial
Owner purchased its Bonds. Transfers of ownership interests in the Bonds shall be accomplished
by book entries made by DTC and, in turn, by DTC Participants acting on behalf of Beneficial
Owners. SO LONG AS CEDE & CO., AS NOMINEE FOR DTC, IS THE REGISTERED
OWNER OF THE BONDS THE REGISTRAR AND PAYING AGENT SHALL TREAT CEDE
& CO., AS THE ONLY HOLDER OF THE BONDS FOR ALL PURPOSES UNDER THIS
RESOLUTION, INCLUDING RECEIPT OF ALL PRINCIPAL OF, PREMIUM, IF ANY, AND
INTEREST ON THE BONDS, RECEIPT OF NOTICES, VOTING AND REQUESTING OR
DIRECTING THE REGISTRAR AND PAYING AGENT TO TAKE OR NOT TO TAKE, OR
CONSENTING TO, CERTAIN ACTIONS UNDER THIS RESOLUTION.
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Payments of principal, interest, and redemption premium, if any, with respect to the Bonds, so
long as DTC is the only owner of the Bonds, shall be paid by the Registrar and Paying Agent
directly to DTC or its nominee, Cede & Co., as provided in the Letter of Representation. DTC
shall remit such payments to DTC Participants, and such payments thereafter shall be paid by DTC
Participants to the Beneficial Owners. Neither the School District nor the Registrar and Paying
Agent shall be responsible or liable for payment by DTC or DTC Participants, for sending
transaction statements or for maintaining, supervising or reviewing records maintained by DTC or
DTC Participants.
In the event that (1) DTC determines not to continue to act as securities depository for the Bonds
or (2) the School District determines that the continuation of the Book-Entry System of evidence
and transfer of ownership of the Bonds would adversely affect their interests or the interests of the
Beneficial Owners of the Bonds, the School District may discontinue the Book-Entry System with
DTC. If the School District fails to identify another qualified securities depository to replace DTC,
the School District shall cause the Registrar and Paying Agent to authenticate and deliver
replacement Bonds in the form of fully registered Bonds to each Beneficial Owner.
NEITHER THE SCHOOL DISTRICT NOR THE REGISTRAR AND PAYING AGENT SHALL
HAVE ANY RESPONSIBILITY OR 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
DTC OR ANY DTC PARTICIPANT OF ANY AMOUNT DUE TO ANY BENEFICIAL
OWNER IN RESPECT OF THE PRINCIPAL OF AND INTEREST ON THE BONDS; (iv) THE
DELIVERY OR TIMELINESS OF DELIVERY BY DTC OR ANY DTC PARTICIPANT OF
ANY NOTICE DUE TO ANY BENEFICIAL OWNER THAT IS REQUIRED OR PERMITTED
UNDER THE TERMS OF THIS RESOLUTION TO BE GIVEN TO BENEFICIAL OWNERS,
(v) THE SELECTION OF BENEFICIAL OWNERS TO RECEIVE PAYMENTS IN THE
EVENT OF ANY PARTIAL REDEMPTION OF THE BONDS; OR (vi) ANY CONSENT
GIVEN OR OTHER ACTION TAKEN BY DTC, OR ITS NOMINEE, CEDE & CO., AS
OWNER.
SO LONG AS A BOOK-ENTRY SYSTEM OF EVIDENCE OF TRANSFER OF OWNERSHIP

OF ALL THE BONDS IS MAINTAINED IN ACCORDANCE HEREWITH, THE PROVISIONS
OF THIS RESOLUTION RELATING TO THE DELIVERY OF PHYSICAL BOND
CERTIFICATES SHALL BE DEEMED INAPPLICABLE OR BE OTHERWISE SO
CONSTRUED AS TO GIVE FULL EFFECT TO SUCH BOOK-ENTRY SYSTEM. IF THE
PROVISIONS OF THE LETTER OF REPRESENTATION SHALL BE IN CONFLICT WITH
THE PROVISIONS OF THIS RESOLUTION AS SAID PROVISIONS RELATE TO DTC, THE
PROVISIONS OF THE LETTER OF REPRESENTATION SHALL CONTROL.
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Section 4.6. Mutilated, Lost, Stolen, or Destroyed Bonds.
(a) In the event any Bond is mutilated, lost, stolen, or destroyed, the School District may execute,
and upon the request of an Authorized Officer of the School District the Registrar and Paying
Agent shall authenticate and deliver, a new Bond of like maturity, interest rate, and principal
amount, and bearing the same number (but with appropriate designation indicating that such new
Bond is a replacement Bond) as the mutilated, destroyed, lost, or stolen Bond, in exchange for the
mutilated Bond or in substitution for the Bond so destroyed, lost, or stolen. In every case of
exchange or substitution, the Bondholder shall furnish to the School District and the Registrar and
Paying Agent: (1) such security or indemnity as may be required by them to save each of them
harmless from all risks, however remote; and, (2) evidence to their satisfaction of the mutilation,
destruction, loss, or theft of the subject Bond and the ownership thereof. Upon the issuance of any
Bond upon such exchange or substitution, the School District and the Registrar and Paying Agent
may require the Owner thereof to pay a sum sufficient to defray any tax or other governmental
charge that may be imposed in relation thereto and any other expenses, including printing costs
and counsel fees, of the School District and the Registrar and Paying Agent. In the event any Bond
which has matured or is about to mature shall become mutilated or be destroyed, lost, or stolen,
the School District may, instead of issuing a Bond in exchange or substitution therefor, pay or
authorize the payment of the same (without surrender thereof except in the case of a mutilated
Bond) if the Owner thereof shall pay all costs and expenses, including attorney’s fees, incurred by
the School District and the Registrar and Paying Agent in connection herewith, as well as a sum
sufficient to defray any tax or other governmental charge that may be imposed in relation thereto
and shall furnish to the School District and the Registrar and Paying Agent such security or
indemnity as they may require to save them harmless and evidence to the satisfaction of the School
District and the Registrar and Paying Agent the mutilation, destruction, loss, or theft of such Bond
and of the ownership thereof.
(b) Every Bond issued pursuant to the provisions of this section shall constitute an additional
contractual obligation of the School District (whether or not the destroyed, lost, or stolen Bond
shall be found at any time to be enforceable) and shall be entitled to all the benefits of this
Resolution equally and proportionately with any and all other Bonds duly issued under this
Resolution.
(c) All Bonds shall be held and owned upon the express condition that the provisions of this Section
are exclusive, with respect to the replacement or payment of mutilated, destroyed, lost, or stolen
Bonds, and, to the maximum extent legally permissible, shall preclude all other rights or remedies,
notwithstanding any law or statute now existing or hereafter enacted to the contrary.
Section 4.7. Authentication.
The Registrar and Paying Agent is hereby authorized to authenticate and deliver the Bonds to the
Underwriter or as it may designate upon receipt by the School District of the proceeds of the sale
thereof, to authenticate and deliver Bonds in exchange for Bonds of the same principal amount
delivered for transfer upon receipt of the Bond(s) to be transferred in proper form with proper
documentation as hereinabove described. The Bonds shall not be valid for any purpose unless
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authenticated by the Registrar and Paying Agent by the manual signature of an officer thereof on
the Bond set forth herein on the Bond form.
Section 4.8. Qualification for DTC.
The Registrar and Paying Agent is hereby authorized to take such actions as may be necessary
from time to time to qualify and maintain the Bonds for deposit with DTC, including but 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 Bonds and provision
of notices with respect to Bonds registered by the DTC (or any of its designees identified to the
Registrar and Paying Agent) by overnight delivery, courier service, telegram, telecopy or other
similar means of communication. No such arrangements with DTC may adversely affect the
interest of any of the Owners of the Bonds, provided, however, that the Registrar and Paying Agent
shall not be liable with respect to any such arrangements it may make pursuant to this section.
Section 4.9. Designation of Rating Agency.
The School District may authorize the retention of the Rating Agency to rate the Bonds.
Section 4.10. Underwriter.
The President and Business Manager, individually or jointly, are authorized to retain Colliers
Securities LLC, Sioux Falls, South Dakota, as Underwriter upon such terms as they approve.
Section 4.11. Bond Counsel.
The President and Business Manager are authorized to retain Meierhenry Sargent LLP as Bond
Counsel upon such terms as they approve.
Section 4.12. Rating Agency.
The President and Business Manager are authorized to retain the Rating Agency upon such terms
as they approve.
Section 4.13. Dissemination Agent.
The School District authorizes the Authorized Officer of the School District to retain a
dissemination agent with regard to the written undertaking authorized in Section 10.8 hereof.
Section 4.14. The State Aid Pledge Agreement.
The School District does hereby authorize the participation in the Program and to authorize the
Authorized Officer of the School District to execute the State Aid Pledge Agreement in
substantially the form attached to this Resolution. The terms and conditions of the State Aid
Pledge Agreement are incorporated herein as if stated in full.
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ARTICLE V
REDEMPTION OF BONDS PRIOR TO MATURITY
Section 5.1. Redemption.
The Bonds are subject to redemption as set forth in the Bond Purchase Agreement.
Section 5.2. Notice of Redemption.
Notice of call for redemption, whether optional or mandatory, shall be given by the Registrar and
Paying Agent on behalf of the School District 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 registered
owners of the Certificates to be redeemed by first-class mail, postage prepaid, at the addresses
shown on the bond registration records of the Registrar and Paying Agent as of the date of the
notice; but neither failure to mail such notice nor any defect in any such notice so mailed shall
affect the sufficiency of the proceedings for redemption of any of the Certificates for which proper
notice was given. As long as DTC, or a successor depository, is the registered owner of the Bonds,
all redemption notices shall be mailed by the Registrar and Paying Agent to DTC, or such
successor Depository, as the registered owner of the Bonds, as and when above provided, and
neither the School District nor the Registrar and Paying Agent shall 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 or Beneficial Owner will not affect the
validity of such redemption. The Registrar and Paying Agent shall mail said notices, in the case
of mandatory redemption of term Certificates, as and when provided herein and in the Certificates,
and, in the case of optional redemption, as and when directed by the School District pursuant to
written instructions from an Authorized Representative of the School District given at least forty-
five (45) days prior to the redemption date (unless a shorter notice period shall be satisfactory to
the Registrar and Paying Agent).
Section 5.3. Payment of Redeemed Certificates.
(a) If notice of redemption shall have been given in the manner and under the conditions provided
in Section 5.2 hereof and if on the date so designated for redemption the Registrar and Paying
Agent shall hold sufficient monies to pay the redemption price of, and interest to the redemption
date on, the Certificates to be redeemed as provided in this Resolution, then: (1) the Certificates
so called for redemption shall become and be due and payable at the redemption price provided
for redemption of such Certificates on such date; (2) interest on the Certificates so called for
redemption shall cease to accrue; and, (3) such Certificates shall no longer be Outstanding or
secured by, or be entitled to, the benefits of this Resolution, except to receive payment of the
redemption price thereof and interest thereon from monies then held by the Registrar and Paying
Agent.
(b) If on the redemption date, monies for the redemption of all Certificates or portions thereof to
be redeemed, together with interest thereon to the redemption date, shall not be held by the
Registrar and Paying Agent so as to be available therefor on such date, the Certificates or portions
thereof so called for redemption shall continue to bear interest until paid at the same rate as they
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would have borne had they not been called for redemption and shall continue to be secured by and
be entitled to the benefits of this Resolution
ARTICLE VI
REGISTRAR AND PAYING AGENT
Section 6.1. Appointment and Acceptance of Duties.
(a) The School District hereby authorizes the Business Manager to appoint the Registrar and
Paying Agent with respect to the Bonds and authorizes and directs the Registrar and Paying Agent
to maintain bond registration records with respect to the Bonds, to authenticate and deliver the
Bonds as provided herein, either at original issuance, upon transfer, or as otherwise directed by the
School District, to effect transfers of the Bonds, to give all notices of redemption as required
herein, to make all payments of principal and interest with respect to the Bonds as provided herein,
to cancel and destroy Bonds which have been paid at maturity or upon earlier redemption or
submitted for exchange or transfer and to furnish the School District at least annually an audit
confirmation of Bonds paid, Bonds Outstanding and payments made with respect to interest on the
Bonds. The President and the Business Manager, or either of them is hereby authorized to execute
and the Business Manager is hereby authorized to attest such written agreement between the
School District and the Registrar and Paying Agent, as they shall deem necessary or proper with
respect to the obligations, duties and rights of the Registrar and Paying Agent. The payment of all
reasonable fees and expenses of the Registrar and Paying Agent for the discharge of its duties and
obligations hereunder or under any such agreement is hereby authorized and directed.
Section 6.2. Permitted Acts and Functions.
The Registrar and Paying Agent may become the Owner of any Bonds, with the same rights as it
would have if it were not a Registrar and Paying Agent. The Registrar and Paying Agent may act
as an underwriter or fiscal agent in connection with the sale of the Bonds or of any other securities
offered or issued by the School District.
Section 6.3. Resignation or Removal of the Registrar and Paying Agent and Appointment of
Successors.
(a) The Registrar and Paying Agent may at any time resign and be discharged of the duties and
obligations created by the Resolution by giving at least sixty (60) calendar days’ written notice to
the Business Manager. The Registrar and Paying Agent may be removed at any time by the
Business Manager, provided that such removal does not constitute a breach of any contractual
agreement with any such Registrar and Paying Agent, by filing written notice of such removal
with such Registrar and Paying Agent. Any successor Registrar and Paying Agent shall be
appointed by the Business Manager and shall be a trust company or a bank having the powers of
a trust company, having a combined capital, surplus, and undivided profits aggregating at least
Seventy-Five Million Dollars ($75,000,000), willing to accept the office of Registrar and Paying
Agent on reasonable and customary terms and authorized by law to perform all the duties imposed
upon it by the Resolution.
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(b) In the event of the resignation or removal of the Registrar and Paying Agent, such Registrar
and Paying Agent shall pay over, assign and deliver any monies and securities held by it as
Registrar and Paying Agent, and all books and records and other properties held by it as Registrar
and Paying Agent, to its successor, or if there be no successor then appointed, to the Business
Manager until such successor be appointed.
Section 6.4. Merger or Consolidation of Registrar and Paying Agent.
Any corporation or association into which the Registrar and Paying Agent may be converted or
merged, or with which it may be consolidated, or to which it may sell or transfer its trust business
and assets as a whole, or substantially as a whole, or any corporation or association resulting from
any such conversion, sale, merger, consolidation, or transfer to which it is a party shall be and
become successor Registrar and Paying Agent hereunder and shall be vested with all the trusts,
powers, discretion, immunities, privileges, and other matters as was its predecessor, without the
execution or filing of any instrument or any further act, deed, or conveyance on the part of any of
the parties hereto, anything herein contained to the contrary notwithstanding. Upon any such
conversion, merger, consolidation, sale or transfer, the Business Manager shall have the right and
option, upon notice to such converted, merged, consolidated or acquiring entity, to remove such
entity and appoint a successor thereto pursuant to the procedures and requirements set forth in
Section 6.3 hereof.
ARTICLE VII
ADDITIONAL BONDS
The School District may issue Parity Obligations on a parity herewith. The School District may
also issue additional bonds which are payable from general taxes.
ARTICLE VIII
DEFEASANCE OF BONDS
Section 8.1. Defeasance of Bonds.
If the School District shall pay and discharge the indebtedness evidenced by any of the Bonds in
any one or more of the following ways, to wit:
(a) By paying or causing to be paid, by deposit of sufficient funds as and when required with the
Registrar and Paying Agent, the principal of and interest on such Bonds as and when the same
become due and payable;
(b) By depositing or causing to be deposited with any trust company or financial institution whose
deposits are insured by the Federal Deposit Insurance Corporation or similar federal agency
and which has trust powers ("an Agent"; which Agent may be the Registrar and Paying Agent)
in trust or escrow, on or before the date of maturity or redemption, sufficient money or Federal
Obligations, as hereafter defined, the principal of and interest on which, when due and
payable, will provide sufficient moneys to pay or redeem such Bonds and to pay premium, if
any, and interest thereon when due until the maturity or redemption date (provided, if such
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Bonds are to be redeemed prior to maturity thereof, proper notice of such redemption shall
have been given or adequate provision shall have been made for the giving of such notice);
(c) By delivering such Bonds to the Registrar and Paying Agent, for cancellation by it;
and if the School District shall also pay or cause to be paid all other sums payable hereunder by
the School District with respect to such Bonds, or make adequate provision therefor, and by
resolution of the Governing Body instruct any such Escrow Agent to pay amounts when and as
required to the Registrar and Paying Agent for the payment of principal of and interest and
redemption premiums, if any, on such Bonds when due, then and in that case the indebtedness
evidenced by such Bonds shall be discharged and satisfied and all covenants, agreements and
obligations of the School District to the holders of such Bonds shall be fully discharged and
satisfied and shall thereupon cease, terminate and become void.
If the School District shall pay and discharge the indebtedness evidenced by any of the Bonds in
the manner provided in either clause (a) or clause (b) above, then the registered owners thereof
shall thereafter be entitled only to payment out of the money or Federal Obligations deposited as
aforesaid.
Except as otherwise provided in this Section, neither Federal Obligations nor moneys deposited
with the Registrar and Paying Agent pursuant to this Section nor principal or interest payments on
any such Federal Obligations shall be withdrawn or used for any purpose other than, and shall be
held in trust for, the payment of the principal and premium, if any, and interest on said Bonds;
provided that any cash received from such principal or interest payments on such Federal
Obligations deposited with the Registrar and Paying Agent, (A) to the extent such cash will not be
required at any time for such purpose, shall be paid over to the School District as received by the
Registrar and Paying Agent and (B) to the extent 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 due the principal and premium, if any, and interest to
become due on said Bonds on or prior to such redemption date or maturity date thereof, as the case
may be, and interest earned from such reinvestments shall be paid over to the School District, as
received by the Registrar and Paying Agent. For the purposes of this Section, Federal Obligations
shall mean direct obligations of, or obligations, the principal of and interest 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 the time of the purchase thereof are
permitted investments under South Dakota Law for the purposes described in this Section, which
Bonds or other obligations shall not be subject to redemption prior to their maturity other than at
the option of the registered owner thereof.
ARTICLE IX
SALE OF BONDS AND DEPOSIT OF PROCEEDS
Section 9.1. Sale of Bonds.
The Bonds shall be sold to the Underwriter at a price set forth in the Bond Purchase Agreement.
The President and the Business Manager, or either of them, in consultation with the Underwriter,
is authorized to make such changes in the structuring of the terms and sale of the Bonds as they
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shall deem necessary. In this regard, they, or either of them, in consultation with the Underwriter,
are authorized to cause to be sold an aggregate principal amount of the Bonds less than that
authorized herein, to sell in one or more series at the same or different dates, to sell any or all of
the Bonds as term Bonds with annual mandatory redemption requirements which will produce
substantially the same annual principal reductions as authorized herein, to change the dated date
of the Bonds, and to adjust principal and interest payment dates and redemption dates of the Bonds.
The form of the Bond set forth in Exhibit A attached hereto shall be conformed to reflect any
changes, if any, as hereinbefore mentioned. The President and the Business Manager, or either of
them, are hereby authorized to execute and the Business Manager is authorized to attest the Bond
Purchase Agreement with the Underwriter providing for the purchase and sale of the Bonds. The
Bond Purchase Agreement shall be in form and content acceptable to the President and Business
Manager, the execution thereof by either of them to constitute conclusive evidence thereof, and
approved as to form and legality by Bond Counsel; provided the Bond Purchase Agreement effects
the sale of the Bonds in accordance with the provisions of this Resolution, and is not inconsistent
with the terms hereof. The President and the Business Manager are authorized to cause the Bonds
to be authenticated and delivered by the Registrar and Paying Agent to the Underwriter and to
execute, publish, and deliver all certificates and documents, including the Official Statement, and
closing certificates and documents, as they shall deem necessary in connection with the sale and
delivery of the Bonds. Bond Counsel is authorized to release the Bonds in any closing.
Section 9.2. Official Statement.
The President, Business Manager, and the Underwriter are hereby authorized and directed to
provide for the preparation and distribution of a Preliminary Official Statement describing the
Bonds (the "Preliminary Official Statement"). After the Bonds have been sold, the President and
Business Manager shall make such completions, omissions, insertions and changes in the
Preliminary Official Statement not inconsistent with this Resolution as are necessary or desirable
to complete it as a final Official Statement for purposes of Rule 15c2-12(e)(3) of the Securities
and Exchange Commission.
To comply with paragraph (b) (3) of Rule 15c2-12 of the Securities and Exchange Commission
under the Securities Exchange Act of 1934 (the "Rule") and with Rule G-32 and all other
applicable rules of the Municipal Securities Rulemaking Board, the School District agrees to
deliver to the Underwriter, the Official Statement (which shall be a final official statement, as such
term is defined in the Rule, as of its date) in an electronic format as prescribed by the MSRB.
Section 9.3. Disposition of Bond Proceeds.
The proceeds of the sale of the Bonds, combined with interest earnings, shall be deposited and
accredited in the fund and accounts as prescribed by the South Dakota Department of Legislative
Audit and will be used by the School District to finance school facilities, renovations,
improvements and additions, including completing the new High School Project by adding the
High School Gymnasium, locker rooms, weight room, auxiliary gym, gymnastics/multipurpose
room, cheer/dance space, wrestling room, office space, and furnishing and equipping the same and
the costs of issuing the bonds.
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Section 9.4. Tax Matters.
(a) The School District covenants and agrees with the registered owners from time to time of
the Bonds that it will not take or permit to be taken by any of its officers, employees or
agents any action which would cause the interest on the Bonds to become includable in
gross income for federal income tax purposes under the Code and applicable Treasury
Regulations (the "Regulations"), and covenants to take any and all actions within its powers
to ensure that the basic interest on the Bonds will not become includable in gross income
for federal income tax purposes under the Code and the Regulations.
(b) The President and the Business Manager, being the officers of the School District charged
with the responsibility for issuing the Bonds pursuant to this Resolution are hereby
authorized and directed to execute and deliver to the Underwriter thereof a Bond in
accordance with the provisions of Section 148 of the Code, and Section 1.148-2(b) of the
Regulations, stating that on the basis of facts, estimates and circumstances in existence on
the date of issue and delivery of the Bonds, it is reasonably expected that the proceeds of
the Bonds will be used in a manner that would not cause the Bonds to be "arbitrage bonds"
within the meaning of Section 148 of the Code and the Regulations.
(c) The School District shall file with the Secretary of the Treasury a statement concerning the
Bonds containing the information required by Section 149(e) of the Code.
ARTICLE X
MISCELLANEOUS
Section 10.1. Failure to Present Bonds.
(a) Subject to the provisions of Section 4.7 hereof, in the event any Bond shall not be presented
for payment when the principal or redemption price hereof becomes due, either at maturity
or at the date fixed for prior redemption thereof or otherwise, and in the event monies
sufficient to pay such Bond shall be held by the Registrar and Paying Agent for the benefit
of the Owner thereof, all liability of the School District to such Owner for the payment of
such Bond shall forthwith cease and be completely discharged. Whereupon, the Registrar
and Paying Agent shall hold such monies, without liability for interest thereon, for the
benefit of the Owner of such Bond who shall thereafter be restricted exclusively to such
monies for any claim under the Resolution or on, or with respect to, said Bonds.
(b) If any Bond shall not be presented for payment within a period of five years following the
date when such Bond becomes due, whether by maturity or otherwise, the Registrar and
Paying Agent shall, subject to the provisions of any applicable escheat or other similar law,
pay to the School District any monies then held by the Registrar and Paying Agent for the
payment of such Bond and such Bond shall (subject to the defense of any applicable statute
of limitation) thereafter constitute an unsecured obligation of the School District.
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Section 10.2. Payments Due on Saturdays, Sundays, and Holidays.
In any case where the date of maturity or interest on or principal of any Bonds, or the date fixed
for redemption of any Bonds, shall be a Saturday or Sunday or shall be, at the place designated for
payment, a legal holiday or a day on which banking institutions similar to the Registrar and Paying
Agent are authorized by law to close, then the payment of the interest on, or the principal, or the
redemption price of, such Bond need not be made on such date but must be made on the next
succeeding day not a Saturday, Sunday, or a legal holiday or a day upon which banking institutions
similar to the Registrar and Paying Agent are authorized by law to close, with the same force and
effect as if made on the date of maturity or the date fixed for redemption, and no interest shall
accrue for the period after such date.
Section 10.3. Miscellaneous Acts.
The appropriate officers of the School District are hereby authorized, empowered, and directed to
do any and all such acts and things, and to execute, acknowledge, deliver, and, if applicable file or
record, or cause to be filed or recorded, in any appropriate public offices, all such documents,
instruments, and certifications, in addition to those acts, things, documents, instruments, and
certifications hereinbefore authorized and approved, as may, in their discretion, be necessary or
desirable to implement or comply with the intent of the Bond Resolution, or any of the documents
herein authorized and approved, or for the authorization, issuance, and delivery by the School
District of the Bonds.
Section 10.4. Amendment.
The School Board is hereby authorized to make such amendments to the Bond Resolution as will
not impair the rights of the Bondholders.
Section 10.5. No Recourse Under Bond Resolution or on Bonds.
All stipulations, promises, agreements, and obligations of the School District contained in the
Resolution shall be deemed to be the stipulations, promises, agreements, and obligations of the
School District and not of any officer, director, or employee of the School District in his or her
individual capacity, and no recourse shall be had for the payment of the principal of or interest on
the Bonds or for any claim based thereon or the Resolution against any officer, director, or
employee of the School District or against any official or individual executing the Bonds.
Section 10.6. Partial Invalidity.
If any one or more of the provisions of the Resolution, or of any exhibit or attachment thereto,
shall be held invalid, illegal, or unenforceable in any respect, by final decree of any court of lawful
jurisdiction, such invalidity, illegality, or unenforceability shall not affect any other provision
hereof, or of any exhibit or attachment thereto, but the Resolution, and the exhibits and attachments
thereto, shall be construed the same as if such invalid, illegal, or unenforceable provision had never
been contained herein, or therein, as the case may be.
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Section 10.7. Continuing Disclosure.
The School District hereby covenants and agrees that it will annually provide certain financial and
operating information which is customarily prepared and publicly available and material event
notices as required by Rule 15c2-12 of the Securities Exchange Commission (SEC) for the Bonds.
The President is authorized to execute at the Closing of the sale of the Bonds, an agreement for
the benefit of and enforceable by the owners of the Bonds specifying the details of the financial
information and material event notices to be provided and its obligations relating thereto. Failure
of the School District to 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 of the Bonds to take such actions and to initiate such proceedings as shall be
necessary and appropriate to cause the School District to comply with its undertaking as set forth
herein and in said agreement, including the remedies of mandamus and specific performance. The
President is authorized to execute any amendments as he or she deems necessary to comply with
any rules of regulations adopted by the SEC.
Section 10.8. Post Issuance Compliance.
The School District does hereby adopt Meierhenry Sargent Post-Issuance Compliance Policy and
Tax-Advantaged Obligations and Continuing Disclosure with regard to the Bonds attached hereto.
The School District appoints the Business Manager as its chief post issuance compliance officer.
Section 10.9. Conflicting Resolutions Repealed.
All resolutions or parts thereof in conflict herewith are, to the extent of such conflict, hereby
repealed.
Section 10.10. Effective Date.
This Resolution shall take effect from and after its adoption, the welfare of the School District
requiring it.
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Said motion was seconded by Member _______________ and upon vote being taken the
following voted AYE:
and the following voted NAY:
ATTEST: President
Business Manager
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EXHIBIT A- (FORM OF BONDS)
UNITED STATES OF AMERICA

STATE OF SOUTH DAKOTA
GENERAL OBLIGATION BONDS, SERIES _____
REGISTERED REGISTERED
No. $.00
Interest Rate Maturity Date Bond Date CUSIP No.

%
Registered Owner: Cede & Co.
55 Water Street, 1st Floor.
New York, New York 10041
Tax ID #13-2555119
Principal Amount
REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THE BOND SET FORTH ON THE FOLLOWING
PAGES, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH AT
THIS PLACE.
It is hereby certified and recited that all conditions, acts and things required by law to exist or to be done precedent to
and in the issuance of this Bond did exist, have happened, been done and performed in regular and due form and time as required
by law. This Bond is issued in full compliance with SDCL §13-19 and Resolution ______, adopted _____________, 2024.
This Bond shall not be valid or become obligatory for any purpose or be entitled to any benefit or security under the
Resolution until it shall have been authenticated by the execution by the Registrar of the Bond of authentication endorsed hereon.
IN WITNESS WHEREOF, the School District has caused this Bond to be signed by the manual or facsimile signature
of its President of the School Board of the School District and to be countersigned by the manual or facsimile signature of its
Business Manager all as of the Bond Date specified above.
ATTEST:
MITCHELL SCHOOL DISTRICT 17-2, SOUTH DAKOTA
Business Manager By:
COUNTERSIGNED: President of the School Board
Resident Attorney
CERTIFICATE OF AUTHENTICATION
This Bond is a Bond of the series designated therein and has been issued under the provisions of the within-mentioned
Resolution and the date of its authentication is ___________ ___, 2024.
U.S. Bank Trust Company, National Association

St. Paul, Minnesota
Bond Registrar and Paying Agent
By: _________________________________
Authorized Officer
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KNOW ALL MEN BY THESE PRESENTS: That the Mitchell School District 17-2, Davison and Hanson Counties, South
Dakota (the "School District"), hereby acknowledges itself to owe and for value received promises to pay Principal Amount, to the
Registered Owner mentioned above in lawful money of the United States of America, together with interest thereon from the Bond
Date mentioned above at the Interest Rate mentioned above calculated on the basis of 12 thirty day months (30/360). The interest
hereon is payable __________________ and semiannually thereafter on ____________and _______________ in each year to
maturity or earlier redemption by wire transfer, check or draft mailed to the Registered Owner at its address as it appears on the
Bond registration books of the School District maintained by U.S. Bank Trust Company, National Association, St. Paul, Minnesota,
as Bond registrar and paying agent (the "Registrar"), on the close of business on the 15th day of the calendar month (whether or
not a business day) immediately preceding the interest payment date (the “Record Date”). The principal hereof due at maturity or
upon redemption prior to maturity is payable at the office of Registrar upon presentation and surrender of this Bond at maturity or
upon earlier redemption. The principal of, premium (if any) and interest on this Bond is payable in any coin or currency of the
United States of America which, at the time of payment, is legal tender for the payment of public and private debts.
This Bond is one of an authorized issue of Bonds limited in aggregate principal amount to a maximum of $17,000,000
(the "Bonds") and was authorized by District voters at a special election held June 6, 2023. Approximately 82% of the voters voted
in favor of authorizing the Bonds all of like date and tenor except as to maturity, interest rates and privileges of redemption, the
proceeds of this issue will be used by the School District to provide funds for the purpose of financing school facilities, renovations,
improvements and additions, including completing the new High School Project by adding the High School Gymnasium, locker
rooms, weight room, auxiliary gym, gymnastics/multipurpose room, cheer/dance space, wrestling room, office space, and
furnishing and equipping the same and the costs of issuing the bonds described herein, pursuant to a resolution duly and regularly
adopted by the School District (the “Bond Resolution”), and are subject to all the provisions and limitations of the Resolution and
Chapters 13-19 and 6-8B, South Dakota Codified Laws, as amended. The School District has levied an irrepealable tax for the
payment of the Bonds.
In addition, to further secure payment of the Bonds, the School District has pledged all of its right, title, and interest in
and to State Aid to Education under Title 13 of the South Dakota Codified Laws (“Pledged State Aid”) and has entered into a State
Pledge Aid Agreement with the South Dakota Health and Educational Facilities Authority, U.S. Bank Trust Company, National
Association, and the South Dakota Department of Education pursuant to which State Aid to Education may be applied to pay
principal and interest on the bonds and any other Bonds issued by the School District secured on a parity with the Bonds.
[REDEMPTION PROVISIONS]
This Bond is transferable by the registered holder hereof in person or by his attorney duly authorized in writing at the
office of the Bond Registrar in St. Paul, Minnesota, but only in the manner, subject to the limitations and upon payment of the
charges provided in the Bond Resolution, and upon surrender and cancellation of this Bond. Upon such transfer a new Bond or
Bonds of authorized denomination of the same maturity and for the same aggregate principal amount will be issued to the
transferee in exchange therefore.
The School District and the Bond Registrar may deem and treat the registered holder hereof as the absolute owner
hereof and neither the School District nor the Bond Registrar shall be affected by any notice to the contrary.
BOND OPINION
Mitchell School District 17-2
Davison and Hanson Counties, South Dakota
$17,000,000 General Obligation Bonds, Series 2024
Ladies and Gentlemen:
We have acted as bond counsel in connection with the issuance by the Mitchell School District 17-2 (the "Issuer") of
$17,000,000 General Obligation Bonds, Series 2024, dated ________________, 2024 (the "Bonds"). We have examined such
certified proceedings and other papers as we deem necessary to render this opinion.
We have not been engaged or undertaken to review the accuracy, completeness or sufficiency of the Official Statement
or other offering material relating to the Bonds and we express no opinion relating thereto.
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As to questions of fact material to our opinion, we have relied upon the certified proceedings and other certifications of
public officials furnished to us, without undertaking to verify such facts by independent investigation.
Based upon the foregoing, we are of the opinion that, under existing law:
1. The Bonds are valid and binding general obligations of the Issuer.
2. All taxable property in the territory of the Issuer is subject to ad valorem taxation without limitation as to rate or
amount to pay the Bonds. The Issuer is required by law to include in its annual tax levy the principal and
interest coming due on the Bonds to the extent the necessary funds are not provided from other sources.
3. The Bonds have been duly authorized by the electors of the School District and pursuant to Resolution No.
_____ adopted by the Issuer on ______________, 2024, executed and delivered by the Issuer in full
compliance with SDCL § 6-8B and are valid and binding general obligations of the Issuer.
4. The Bonds are additionally secured by the School District’s pledge of all of its right, title, and interest in and to
State Aid to Education under Title 13 of the South Dakota Codified Laws and the School District has entered
into a State Aid Pledge Agreement (the “State Aid Pledge Agreement”) with the South Dakota Health and
Educational Facilities Authority, U.S. Bank Trust Company, National Association, and the South Dakota
Department of Education in furtherance of such pledge.
5. The School District has irrevocably authorized pursuant to a State Aid Pledge Agreement and directed the
South Dakota Health and Educational Facilities Authority (the “Authority”) to intercept from time to time, as
necessary, State of South Dakota appropriated funds to which the School District is entitled, and to transfer to
the paying agent, from such intercepted funds, the amount necessary to pay principal of and interest then due
on the Bonds.
4. The interest on the Bonds is excluded from gross income for federal income tax purposes and is not an item
of tax preference for purposes of the federal alternative minimum tax; however, such interest is taken into
account in determining the annual adjusted financial statement income of certain corporations for the purpose
of computing the alternative minimum tax imposed on such corporations. The opinions set forth in the
preceding sentence are subject to the condition that the Issuer comply with all requirements of the Internal
Revenue Code of 1986 as amended, that must be satisfied subsequent to the issuance of the Bonds in order
that interest thereon be, or continue to be, excluded from gross income for federal income tax purposes. The
Issuer has covenanted to comply with each such requirement. Failure to comply with certain of such
requirements may cause the inclusion of interest on the Bonds in gross income for federal income tax purposes
to be retroactive to the date of issuance of the Bonds. We express no opinion regarding other federal tax
consequences arising with respect to the Bonds.
5. Under existing law, the interest on the Bonds is includible in "taxable income" for the State of South Dakota
income tax purposes when the recipient is a "financial institution" as defined by Chapter 10-43, South Dakota
Codified Laws, according to present state laws, regulations and decisions. We express no further opinions
regarding other South Dakota tax consequences arising with regard to the Bonds.
It is to be understood that the rights of the holders of the Bonds and the enforceability thereof may be subject to bankruptcy,
insolvency, reorganization, moratorium and other similar laws affecting creditors' rights heretofore or hereafter enacted to the
extent constitutionally applicable and that their enforcement may be subject to the exercise of judicial discretion in accordance with
general principles of equity and subject to regulatory requirements under the laws of the United States and of the State of South
Dakota.
Meierhenry Sargent LLP
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AS PROVIDED IN THE RESOLUTION REFERRED TO HEREIN, UNTIL THE TERMINATION OF THE SYSTEM OF
BOOK-ENTRY-ONLY TRANSFERS THROUGH DEPOSITORY TRUST COMPANY, NEW YORK, NEW YORK (TOGETHER
WITH ANY SUCCESSOR SECURITIES DEPOSITORY APPOINTED PURSUANT TO THE RESOLUTION, "DTC"), AND
NOTWITHSTANDING ANY OTHER PROVISIONS OF THE RESOLUTION TO THE CONTRARY, A PORTION OF THE
PRINCIPAL AMOUNT OF THIS BOND MAY BE PAID OR REDEEMED WITHOUT SURRENDER HEREOF TO THE
REGISTRAR. DTC OR A NOMINEE, TRANSFEREE OR ASSIGNEE OF DTC OF THIS BOND MAY NOT RELY UPON THE
PRINCIPAL AMOUNT INDICATED HEREON AS THE PRINCIPAL AMOUNT HEREOF OUTSTANDING AND UNPAID. THE
PRINCIPAL AMOUNT HEREOF OUTSTANDING AND UNPAID SHALL FOR ALL PURPOSES BE THE AMOUNT
DETERMINED IN THE MANNER PROVIDED IN THE RESOLUTION.
UNLESS THIS BOND IS PRESENTED BY AN AUTHORIZED OFFICER OF DTC (A) TO THE REGISTRAR FOR
REGISTRATION OF TRANSFER OR EXCHANGE OR (B) TO THE REGISTRAR FOR PAYMENT OF PRINCIPAL, AND ANY
BOND ISSUED IN REPLACEMENT HEREOF OR SUBSTITUTION HEREFOR IS REGISTERED IN THE NAME OF DTC AND
ANY PAYMENT IS MADE TO DTC OR ITS NOMINEE, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL BECAUSE ONLY THE REGISTERED OWNER HEREOF, DTC OR ITS
NOMINEE, HAS AN INTEREST HEREIN.
(Form of Assignment)
FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto
the within Bond and all rights thereunder, and hereby irrevocably constitutes and appoints
attorney to transfer the within Bond on the books kept for registration thereof, with full power of substitution in the premises.
Dated:
NOTICE: The signature to this Assignment must correspond with

the name as it appears upon the face of the within Bond in every
particular, without alteration or enlargement or any change
whatever.
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Post-Issuance Compliance Policy for Tax-Exempt and
Tax-Advantaged Obligations and Continuing Disclosure
Definitions
“Compliance Officer” means the Business Manager of the Issuer.

“Issuer” means the Mitchell School District 17-2.
Statement of Purpose
This Post-Issuance Compliance Policy (the “Policy”) sets forth specific policies of the Issuer
designed to monitor post-issuance compliance:
(i) with applicable provisions of the Internal Revenue Code of 1986, as amended
(the “Code”), and regulations promulgated thereunder (“Treasury
Regulations”) for obligations issued by the Issuer on tax-exempt or tax-
advantaged basis (''Obligations”); and
(ii) with applicable requirements set forth in certificates and agreement(s)

(“Continuing Disclosure Agreements”) providing for ongoing disclosure in
connection with the offering of obligations to investors (“Offerings”), for
obligations (whether or not tax-exempt/tax-advantaged) subject to the
continuing disclosure requirements of Rule 15c2-12 (the “Rule”) promulgated
by the Securities and Exchange Commission (“SEC”) under the Securities
Exchange Act of 1934.
This Policy documents practices and describes various procedures and systems designed to
identify on a timely basis facts relevant to demonstrating compliance with the requirements that
must be satisfied subsequent to the issuance of Obligations in order that the interest on such
Obligations continue to be eligible to be excluded from gross income for federal income tax
purposes or that the Obligations continue to receive tax-advantaged treatment. The federal tax
law requirements applicable to each particular issue of Obligations will be detailed in the
arbitrage or tax certificate prepared by bond counsel and signed by officials of the Issuer and the
post-closing compliance checklist provided by bond counsel with respect to that issue. This
Policy establishes a permanent, ongoing structure of practices and procedures that will facilitate
compliance with the requirements for individual borrowings.
This Policy similarly documents practices and describes various procedures and systems
designed to ensure compliance with Continuing Disclosure Agreements, by preparing and
disseminated related reports and information and reporting “material events” for the benefit of
the holders of the Issuer's obligations and to assist the Participating Underwriters (within the
meaning of the Rule) in complying with the Rule.
The Issuer recognizes that compliance with pertinent law is an on-going process, necessary
during the entire term of the obligations, and is an integral component of the Issuer's debt
management. Accordingly, the analysis of those facts and implementation of the Policy will
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require on-going monitoring and consultation with bond counsel and the Issuer's accountants and
advisors.
General Policies and Procedures
The following policies relate to procedures and systems for monitoring post-issuance
compliance generally.
A. The Compliance Officer shall be responsible for monitoring post-issuance compliance

issues.
B. The Compliance Officer will coordinate procedures for record retention and review
of such records.
C. All documents and other records relating to Obligations issued by the Issuer shall be
maintained by or at the direction of the Compliance Officer. In maintaining such
documents and records, the Compliance Officer will comply with applicable Internal
Revenue Service (“IRS”) requirements, such as those contained in Revenue Procedure
97-22.
D. The Compliance Officer shall be aware of options for voluntary corrections for failure
to comply with post-issuance compliance requirements (such as remedial actions
under Section 1.141-12 of the Regulations and the Treasury's Tax-Exempt Bonds
Voluntary Closing Agreement Program) and take such corrective action when
necessary and appropriate.
E. The Compliance Officer will review post-issuance compliance procedures and systems
on a periodic basis, but not less than annually.
Issuance of Obligations - Documents and Records
With respect to each issue of Obligations, the Compliance Officer will:
A. Obtain and store a closing binder and/or CD or other electronic copy of the relevant
and customary transaction documents (the “Transcript”).
B. Confirm that bond counsel has filed the applicable information report (e.g., Form
8038, Form 8038-G, Form 8038-CP) for such issue with the IRS on a timely basis.
C. Coordinate receipt and retention of relevant books and records with respect to the
investment and expenditure of the proceeds of such Obligations with other applicable
staff members of the Issuer.
Arbitrage
The following policies relate to the monitoring and calculating of arbitrage and compliance
with specific arbitrage rules and regulations.
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A. Confirm that a certification of the initial offering prices of the Obligations with such
supporting data, if any, required by bond counsel, is included in the Transcript.
B. Confirm that a computation of the yield on such issue from the Issuer's financial
advisor or bond counsel (or an outside arbitrage rebate specialist) is contained in the
Transcript.
C. Maintain a system for tracking investment earnings on the proceeds of the Obligations.
D. Coordinate the tracking of expenditures, including the expenditure of any investment

earnings. If the project(s) to be financed with the proceeds of the Obligations will be
funded with multiple sources of funds, confirm that the Issuer has adopted an
accounting methodology that maintains each source of financing separately and
monitors the actual expenditure of proceeds of the Obligations.
E. Maintain a procedure for the allocation of proceeds of the issue and investment
earnings to expenditures, including the reimbursement of pre-issuance expenditures.
This procedure shall include an examination of the expenditures made with proceeds
of the Obligations within 18 months after each project financed by the Obligations
is placed in service and, if necessary, a reallocation of expenditures in accordance
with Section 1.148-6(d) of the Treasury Regulations.
F. Monitor compliance with the applicable “temporary period” (as defined in the Code
and Treasury Regulations) exceptions for the expenditure of proceeds of the issue and
provide for yield restriction on the investment of such proceeds if such exceptions are
not satisfied.
G. Ensure that investments acquired with proceeds of such issue are purchased at fair
market value. In determining whether an investment is purchased at fair market value,
any applicable Treasury Regulation safe harbor may be used.
H. Avoid formal or informal creation of funds reasonably expected to be used to pay debt
service on such issue without determining in advance whether such funds must be
invested at a restricted yield.
I. Consult with bond counsel prior to engaging in any post-issuance credit enhancement
transactions or investments in guaranteed investment contracts.
J. Identify situations in which compliance with applicable yield restrictions depends

upon later investments and monitor implementation of any such restrictions.
K. Monitor compliance with six-month, 18-month or 2-year spending exceptions to the

rebate requirement, as applicable.
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L. Procure a timely computation of any rebate liability and, if rebate is due, to file a Form
8038-T and to arrange for payment of such rebate liability.
M. Arrange for timely computation and payment of “yield reduction payments” (as such
term is defined in the Code and Treasury Regulations), if applicable.
Private Activity Concerns
The following polices relate to the monitoring and tracking of private uses and private payments
with respect to facilities financed with the Obligations.
A. Maintain records determining and tracking facilities financed with specific Obligations
and the amount of proceeds spent on each facility.
B. Maintain records, which should be consistent with those used for arbitrage purposes,
to allocate the proceeds of an issue and investment earnings to expenditures, including
the reimbursement of pre-issuance expenditures.
C. Maintain records allocating to a project financed with Obligations any funds from
other sources that will be used for otherwise non-qualifying costs.
D. Monitor the expenditure of proceeds of an issue and investment earnings

for qualifying costs.
E. Monitor private use of financed facilities to ensure compliance with applicable

limitations on such use. Examples of potential private use include:
1. Sale of the facilities, including sale of capacity rights;
2. Lease or sub-lease of the facilities (including leases, easements or

use arrangements for areas outside the four walls, e.g., hosting of
cell phone towers) or leasehold improvement contracts;
3. Management contracts (in which the Issuer authorizes a third party to

operate a facility, e.g., cafeteria) and research contracts;
4. Preference arrangements (in which the Issuer permits a third-party

preference, such as parking in a public parking lot);
5. Joint-ventures, limited liability companies or partnership arrangements;
6. Output contracts or other contracts for use of utility facilities (including

contracts with large utility users);
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7. Development agreements which provide for guaranteed payments or
property values from a developer;
8. Grants or loans made to private entities, including special assessment

agreements; and
9. Naming rights arrangements.
Monitoring of private use should include the following:
1. Procedures to review the amount of existing private use on a periodic basis;

and
2. Procedures for identifying in advance any new sale, lease or license,

management contract, sponsored research arrangement, output or utility
contract, development agreement or other arrangement involving private
use of financed facilities and for obtaining copies of any sale agreement,
lease, license, management contract, research arrangement or other
arrangement for review by bond counsel.
If the Compliance Officer identifies private use of facilities financed with tax-exempt or tax-
advantaged debt, the Compliance Officer will consult with the Issuer's bond counsel to determine
whether private use will adversely affect the tax status of the issue and if so, what remedial action
is appropriate. The Compliance Officer should retain all documents related to any of the above
potential private uses.
Qualified Tax-Exempt Obligations
If the Issuer issues qualified tax-exempt obligations in any year, the Compliance Officer shall
monitor all tax-exempt financings (including lease purchase arrangements and other similar
financing arrangements and conduit financings on behalf of 501(c)(3) organizations) to assure
that the $10,000,000 “Small Issuer” limit is not exceeded.
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Federal Subsidy Payments
The Compliance Officer shall be responsible for the calculation of the amount of any federal
subsidy payments and the timely preparation and submission of the applicable tax form and
application for federal subsidy payments for tax-advantaged obligations such as Build America
Bonds, New Clean Renewable Energy Bonds and Qualified School Construction Bonds.
Reissuance
The following policies relate to compliance with rules and regulations regarding the reissuance of
Obligations for federal law purposes.
The Compliance Officer will identify and consult with bond counsel regarding any post-
issuance change to any terms of an issue of Obligations which could potentially be treated as a
reissuance for federal tax purposes.
Record Retention
The following policies relate to retention of records relating to the Obligations issued. The
Compliance Officer will:
A. Coordinate with staff regarding the records to be maintained by the Issuer to establish
and ensure that an issue remains in compliance with applicable federal tax
requirements for the life of such issue.
B. Coordinate with staff to comply with provisions imposing specific

recordkeeping requirements and cause compliance with such provisions, where
applicable.
C. Coordinate with staff to generally maintain the following:
1. The Transcript relating to the transaction (including any arbitrage or

other tax certificate and the bond counsel opinion);
2. Documentation evidencing expenditure of proceeds of the issue;
3. Documentation regarding the types of facilities financed with the

proceeds of an issue, including, but not limited to, whether such facilities
are land, buildings or equipment, economic life calculations and
information regarding depreciation.
4. Documentation evidencing use of financed property by public and private

entities (e.g., copies of leases, management contracts, utility user
agreements, developer agreements and research agreements);
5. Documentation evidencing all sources of payment or security for the issue;

and
87
6. Documentation pertaining to any investment of proceeds of the issue
(including the purchase and sale of securities, SLGs subscriptions, yield
calculations for each class of investments, actual investment income
received by the investment of proceeds, guaranteed investment contracts,
and rebate calculations).
D. Coordinate the retention of all records in a manner that ensures their complete access
to the IRS.
E. Keep all material records for so long as the issue is outstanding (including any
refunding), plus seven years.
Continuing Disclosure
Under the provisions of SEC Rule 15c2-12 (the “Rule”), Participating Underwriters (as defined
in the Rule) are required to determine that issuers (such as the Issuer) have entered into written
Continuing Disclosure Agreements to make ongoing disclosure in connection with Offerings
subject to the Rule. Unless the Issuer is exempt from compliance with the Rule or the continuing
disclosure provisions of the Rule as a result of certain permitted exemptions, the Transcript for
each issue of related obligations will include a Continuing Disclosure Agreement executed by
the Issuer.
In order to monitor compliance by the Issuer with its Continuing Disclosure Agreements, the
Compliance Officer will, if and as required by such Continuing Disclosure Agreements:
A. Assist in the preparation or review of annual reports ('Annual Reports”) in the form
required by the related Continuing Disclosure Agreements.
B. Maintain a calendar, with appropriate reminder notifications, listing the filing due
dates relating to dissemination of Annual Reports, which annual due date is generally
expressed as a date within a certain number of days (e.g., 365 days) following the end
of the Issuer's fiscal year (the “Annual Report Due Date”), as provided in the related
Continuing Disclosure Agreements.
C. Ensure timely dissemination of the Annual Report by the Annual Report Due Date, in
the format and manner provided in the related Continuing Disclosure Agreements,
which may include transmitting such filing to the Municipal Securities Rulemaking
Board (“MSRB”) through the Electronic Municipal Market Access (“EMMA”)
System at www.emma.msrb.org in the format prescribed by the MSRB.
D. Monitor the occurrence of any “Material Event” (as defined in the Continuing
Disclosure Agreements) and timely file notice of the occurrence of any such Material
Event in the manner provided under the Continuing Disclosure Agreements. To be
timely filed, such notice must be transmitted within 10 days (or such other time period
as set forth in the Continuing Disclosure Agreements) of the occurrence of such
Material Event.
88
E. Ensure timely dissemination of notice of any failure to perform under a Continuing
Disclosure Agreement, if and as required by the Continuing Disclosure Agreement.
F. Respond to requests or ensure that the Issuer Contact (as defined in the Continuing
Disclosure Agreement) responds to requests, for information under the Rule, as
provided in the Continuing Disclosure Agreements.
G. Monitor the performance of any dissemination agent(s) engaged by the Issuer to assist
in the performance of any obligation under the Continuing Disclosure Agreements.
PASSED and ADOPTED by the Mitchell School District 17-2, this ____________day of
_____________, 2024.
__________________________________
President of the School Board
ATTEST:
__________________________________
Business Manager
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Agenda Item
For presentation at the December 11, 2023 meeting of the school board.
Subject: Board Consideration to Enter into Executive Session for the Purpose of
representatives.”
SDCL 1-25-2.(4).

Board Action X
Board Information
Scheduled report
Board Consideration to Enter into Executive Session for the Purpose of

representatives.” SDCL 1-25-2.(4).
98
Agenda Item
Subject: Board Consideration to Approve School District and MCEA Negotiations.

Board Action X
Board Information
Scheduled report
2024-25 Budget year. Agree to addition under Article 8, Section C, item 3: Up to an

additional 5-days of employee sick leave may be used for Parent in Hospice Care.
2024-25 Budget year. Agree to addition under Article 4, Section A: Longevity pay will be
assigned only once, every 5-years of uninterrupted employment and will be based upon the
employee’s length of employment on July 1 of each budget year. Longevity increase will be
5 cents for every 5 years of employment.
2024-25 Budget year. Agree to addition under Article 9: Upon resignation, only 9-month
employees will have the option of being paid a maximum of 10 days unused leave upon
departing the district and with a 2-week’ advance notice. Employees must have been with
the district for 5 years to earn this benefit.
January 1, 2024 - 2024-25 Budget year. Agree to under Article 4, Section A. Wages: An
increase of $2 per hour beginning January 1, 2024. *Food Service Employees will receive
an increase of $0.50 per hour and $1.50 per hour with an average increase of $0.75 per
hour.
2024-25 Budget year. Agree to addition under Article 5. Fringe Benefits, Section C.
Programs. 1. Health Insurance
Current Agreement Language: Remove current language, “Additionally, any employees who
shares family coverage with another employee shall be required to pay 10% of a premium
costs for a total of 20% for the married couple.”
Replace with the following language: “Additionally, any employees who shares family
coverage with another employee shall have total coverage of premium costs for a 100%
coverage for the married couple.”
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Agenda Item
Subject: Board Consideration to Approve MEA Memorandum of Understanding.

Board Action X
Board Information
Scheduled report
The school district and MEA have verbally agreed to a one-time bonus payment for the
current 2023-24 school year. Bonus payment will be paid in January 2024. Funding for this
one-time bonus is the result of unspent Covid-19 relief funds.
100
Agenda Item
Subject: Board Information on Class Caps.

Board Action
Board Information X
Scheduled report
Share information on Class Caps.
101
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Dec. 11 2023 Mitchell Board of Education Agenda

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MITCHELL SCHOOL DISTRICT NO.

ITEM SUMMARY/JUSTIFICATION RECOMMENDED ACTION

III. Public Commentary BOARD INFORMATION

V. Board Consideration of Adoption of Resolution Authorizing the Execution, MOTION TO APPROVE

VIII. Board Consideration to Approve MEA Memorandum of Understanding. MOTION TO APPROVE

IX. Board Information on Class Caps. BOARD INFORMATION

X. Board Member Report BOARD INFORMATION

XI. Superintendent Report BOARD INFORMATION

B. New Classified Hires:

E. MTC New Hire:

Elizabeth Luzak – Clinical Adjunct Registered Nursing

Abbie Marten – MICR 231 - Microbiology (4 credits)

Janet Nicolaus – BUS 161 – Digital Media Concepts (3 credits)

Noah Brinkman – Wind Turbine Technology Instructor

For presentation at tKH'HFHPEHU 202 meeting of the school ERDUG

Subject: Public Commentary

From: General Public

Nature of action requested from the Board:

Board Action ‫܆‬

Subject: Board Consideration of Adoption of Resolution Authorizing the Execution, Terms,

From: Joe Childs, Superintendent

Nature of action requested:

Included here as support documents are:

Theresa Kriese, Business Manager

Name: Joe Childs, Superintendent Date: December 11, 2023

The following members were present:

and the following were absent:

RESOLUTION AUTHORIZING THE EXECUTION, TERMS, ISSUANCE, SALE AND

NOW THEREFORE, BE IT RESOLVED BY THE SCHOOL BOARD OF THE

Section 1.1. Definition of Terms.

“District” means the Mitchell School District 17-2.

“DOE” means the South Dakota Department of Education.

“Outstanding,” “Certificates Outstanding,” or “Outstanding Certificates” means, as of a particular

“Person” means an individual, partnership, corporation, trust, or unincorporated organization, or a

“Resolution” means this Certificate Resolution.

“School District” means the Mitchell School District 17-2.

Section 1.2. References to Resolution.

Section 1.4. Headings.

It is hereby found and determined by the School Board as follows:

Section 3.1. Authority.

Section 3.3. Levy of Taxes.

Section 3.3. Pledge of State Aid to Education.

Section 3.4. Deposit of Pledged Moneys.

Section 4.1. Authorized Certificates.

Section 4.4. Negotiability of Certificates.

SO LONG AS A BOOK-ENTRY SYSTEM OF EVIDENCE OF TRANSFER OF OWNERSHIP

Section 4.6. Mutilated, Lost, Stolen, or Destroyed Certificates.

Section 4.8. Qualification for DTC.

Section 4.9. Underwriter.

Section 4.11. Rating Agency.

Section 4.12. Dissemination Agent.

Section 5.1. Redemption.

Section 5.2. Notice of Redemption.

Section 5.3. Payment of Redeemed Certificates.

Section 6.1. Appointment and Acceptance of Duties.

Section 6.2. Permitted Acts and Functions.

Section 8.1. Sale of Certificates.

Section 8.3. Disposition of Certificate Proceeds.

For presentation at tKH'HFHPEHU 202 meeting of the school ERDUG