Rodney Thompson made a motion that the Board enter into executive session I for the discussion of the executive director's annual evaluation and negotiations incident to proposed contractual agreement.  

Marion Newton seconded the motion.

The board VOTED to approve the motion. 

At the conclusion of Executive Session I, and upon consensus, the Board returned to open session.

Chairman Thompson stated he was recusing himself from the remaining agenda items, and after turning the meeting over to Vice Chairwoman Chandler, he exited the meeting.

Cameron Chandler presided over the remainder of the meeting.

RESOLUTION 

OF THE BOARD OF DIRECTORS OF 

LIBERTY STEAM CHARTER SCHOOL 

     WHEREAS, the Board of Directors (“Board”) of Liberty STEAM Charter School, a South Carolina nonprofit corporation (“School”) and an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (“Code”), desires to make certain capital improvements on or about the School’s facilities located at 108 North Main Street, Sumter, South Carolina 29150, 15 School Street, Sumter, South Carolina 29150 and 1057 Broad Street, Sumter, South Carolina 29150. Such capital improvements include, but are not limited to, the acquisition, expansion, renovation, upfitting, improvement, and construction of the educational, administrative, recreational and related facilities of the School (“Project”); 

     WHEREAS, the School’s Managing Director of Finance & Development or his designee (“Finance Officer”) has solicited and received proposals from various financial institutions to finance the costs of the Project;   

     WHEREAS, the Finance Officer has recommended to the Board that it pursue financing of the Project (“Financing”) through First Citizens Bank (“Bank”); 

     WHEREAS, the Bank has advised that it will not proceed with the Financing unless the Chairman of the Board, Greg Thompson (“Chairman”), serves as a co-borrower in connection with the Financing (“Co-Borrower”); 

     WHEREAS, the Chairman will serve as the Co-Borrower without any compensation; 

     WHEREAS, the Board has confirmed that neither the Chairman nor any relation or associate of the Chairman will receive any benefit, either direct or indirect, financial or otherwise, for serving as the Co-Borrower; and 

     WHEREAS, the Board wishes to undertake the Financing with the Chairman serving as the Co-Borrower. 

     NOW, THEREFORE, BE IT RESOLVED, by the Board as follows:  Section 1.  The Board Chair and the Executive Director of the School, and any members of the Board of Directors or School personnel acting at their respective direction (collectively, “Authorized Officials”), are authorized and directed to undertake the Financing and take such actions as may be necessary to effectuate the Financing and complete the Project. 

Section 2. The Board finds there is no conflict of interest for the Chairman to serve as the Co-Borrower. 

             Done in meeting duly assembled this 7th day of August, 2025. 

LIBERTY STEAM CHARTER SCHOOL       

By:  

_____________________________________

V. Chairwoman of the Board of Directors

ATTEST: 

_____________________________________ 

Secretary of the Board of Directors

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