REQUEST FOR BIDS   DEADLINE FOR RECEIPT OF BIDS: December 16, 2025, 2:00 P.M.   RE: $1,057,274.00 Maximum Principal Amount Claiborne County School District Shortfall Note   The Claiborne County School District is soliciting sealed bids for the purchase of a shortfall note in the maximum authorized principal amount of One Million, Fifty-Seven Thousand, Two Hundred Seventy-Four and 00/100 Dollars ($1,057,274.00) (the “Note”) as described herein.   Description of the Note The Note shall be dated the date approved by the Board of Education and the purchaser; shall be payable from ad valorem tax revenues, to the extent other funds are not used for such purpose, both as to principal and interest, in lawful money of the United States of America; shall bear interest annually at a rate not exceeding the amount set forth in Miss. Code Section 75-17-105; shall be payable on the anniversary date of the Note or such other time as may be approved by the Board of Education and the purchaser; and shall mature and become due and payable in three (3) equal annual installments during the three (3) fiscal years next succeeding the fiscal year in which the Note was issued, with the first installment due one year from the date of the Note or such other time as may be approved by the Board of Education, and annually thereafter. Provided, however, that the outstanding principal and accrued interest may be paid in full, at any time, at the District’s option, without penalty, prior to the maturity date.   The proceeds of the Note shall be used in the budget in which the shortfall occurred and shall be used solely to offset the shortfall in said budget.   The Board of Education is authorized to make any necessary adjustments to the final principal amount of the Note, said final principal amount to be equal to the District's anticipated revenue shortfall, but not to exceed twenty-five percent (25%) of the District's budget anticipated to be funded from local tax revenues for the 2024-2025 fiscal year. If the District elects to adjust the final principal amount, the District will notify the purchaser prior to the closing of the Note and the annual payment amounts will be adjusted to provide for equal payment amounts of principal and interest. The issuance of the Note, when added to the District's other outstanding indebtedness, shall not exceed any statutory or constitutional limitation on the indebtedness of the District.   The Note will be offered subject to the unqualified approval of the legality thereof by Dorian E. Turner, PLLC, Jackson, Mississippi, note counsel. In the opinion of Dorian E. Turner, PLLC, interest on the Note will be includable in gross income for federal income tax purposes but will be exempt from Mississippi income tax. Interest on the Note will accrue on the basis of twelve, 30-day months at the rate specified in the winning bid.   A special, annual ad valorem tax is statutorily required to be levied by the board of supervisors of Claiborne County, Mississippi, on taxable property in the District to pay the principal of and interest on the Note, to the extent other funds are not used for such purpose.   The District is seeking bids that would constitute a “loan” for purposes of federal securities laws. There will be no CUSIP numbers assigned to the Note, and the Note will be issued in a single denomination representing the principal amount of the loan. In that regard, the purchaser must execute at or prior to closing a Purchaser’s Certificate certifying, among other things, that the purchaser (i) is a “bank” as defined in Section 3(a)(6) of the Exchange Act of 1934, a wholly-owned subsidiary of a bank engaged in commercial lending and financing activities, such as an equipment lease financing corporation, or a federally or state chartered credit union (each, a “Qualified Provider”); (ii) is a “qualified institutional buyer” as defined in Rule 144A under the Securities Act of 1933 or an “accredited investor” as that term is defined in paragraph (a) of Rule 501 under the Securities Act of 1933 other than a broker, dealer or municipal securities dealer registered under the Securities Exchange Act of 1934; (iii) is capable of independently evaluating the investment risks of the transaction and has had an opportunity to obtain from the District all of the information, documents and materials which the purchaser regards as necessary to evaluate the merits and risks of making the loan evidenced by the Note; (iv) is purchasing the Note for investment purposes and not for resale or with a view to distribute the Note; (v) will not transfer any portion of the Note within one year of the date of issuance of the Note, except to another Qualified Provider(s); (vi) assumes the responsibility for compliance with any applicable federal and state securities laws in the event of the resale or transfer of a portion of the Note; (vii) will not offer, transfer or sell the Note or any portion thereof in a denomination of less than One Hundred Thousand Dollars ($100,000); and (viii) the purchaser will require and deliver to the District a certificate with the foregoing representations from any transferee as a pre-condition of any subsequent sale or transfer of the Note or any portion thereof. The Note may not be transferred by the purchaser in any manner that would violate any applicable law or regulation.   The District is not preparing any form of offering document or other disclosure with respect to the Note. The District will provide financial information upon request; however, each party submitting a bid must perform its own independent review and evaluation of the financial condition of the District.   Each bidder is responsible for all costs of preparing and submitting its bid. Each bid shall be signed by an authorized representative with his or her name, legal title and email address typed below the signature line. A Bid Form may be obtained from the District’s Business Office. Once submitted to the District, no bid may be modified or withdrawn. All bids shall remain firm until acted on by the District at a board meeting on December 22, 2025, at 3:30 p.m.   The award, if any, of the Note will be made to the party complying with the terms of this Request for Bids and offering to purchase the Note at the lowest net interest cost to the District, which shall be determined by computing the aggregate interest on the Note at the rate of interest specified in the winning bid, and taking into account any other terms, conditions or costs imposed by any bid. The District reserves the right to reject any or all bids, to waive any irregularity or defect in any bid, and to negotiate further with any party submitting a bid.   Dorian E. Turner, PLLC represents solely the interests of the District with respect to this transaction and does not represent the purchaser’s interest. Dorian E. Turner, PLLC has not conducted any due diligence on the purchaser’s behalf. Neither the District nor Dorian E. Turner, PLLC has engaged a broker-dealer to act as placement agent with respect to this transaction. The purchaser may choose to engage the services of a broker-dealer to represent the purchaser’s interests.   The Note will NOT be submitted for validation.   Sales Logistics   Please deliver your bid to Dr. Sandra Nash, Superintendent, Claiborne County School District, 404 Market Street, Port Gibson, MS 39150, prior to 2:00 p.m., Central Standard Time, on December 16, 2025. Every bid for the purchase of the Note shall be accompanied by a wire transfer, cashier’s check, certified check or exchange, payable to the Claiborne County School District Board of Education, issued or certified by a bank located in this state in the amount of not less than two percent (2%) of the par value of the Note, as a guaranty that the bidder will carry out its contract and purchase the Note if the bid is accepted..   The District anticipates awarding the sale of the Note on December 22, 2025. The award, if any, will be made to the party complying with the terms of sale and offering to purchase the Note at the lowest interest rate to the District. The District reserves the right to reject any or all bids.   Please direct any inquiries with regard to this Request for Bids to Dorian E. Turner at 601-354-2971, deturner@detpllc.com.   Dated: December 4, 2025 12/8, 12/15/25 #11892666