|
|
|
|
|
Meeting Date:
|
1/21/2021 - 7:00 PM
|
|
Category:
|
Information and Study Items
|
|
Type:
|
Action
|
|
Subject:
|
Resolution 20-21-13: Authorizing the Sale and Issuance of Measure R Bonds, Prescribing the Terms and Related Actions
|
|
District Priorities:
|
|
|
Enclosure
|
|
|
File Attachment:
|
|
|
Summary:
|
On November 3, 2020, 61% of voters within the District voted to approve Measure R. At the December 17th Board meeting, the Board received an information presentation on bond financing plan and bond sale process from the District’s municipal advisor, Government Financial Strategies.
Current Consideration:
The Board will be asked to consider adoption of a Resolution authorizing the sale of the first series of Measure R general obligation bonds in an amount not to exceed $15,000,000.
In addition, the Resolution:
• Authorizes the sale to an underwriter to be selected using a competitive selection process
• Approves various financing documents in draft form, and authorizes certain District officials to execute the final versions of the documents with information from the sale
• Prescribes certain terms and conditions of the Bonds, including the payment dates, the method of interest calculation, and bond redemption and defeasance procedures
|
|
Funding:
|
|
|
Recommendation:
|
It is recommended that the Board of Trustees adopt Resolution 20-21-13: Authorizing the Sale and Issuance of Measure R Bonds within the stated parameters.
|
|
Approvals:
|
|
Recommended By:
|
|
Signed By:
|
|
|
Carlena Grandey - Administrative Assistant to the Superintendent
|
|
|
Signed By:
|
|
|
Dr. Carrie Andrews - Superintendent
|
|
|
|
|
|
|
|
|