Agenda

Return

C. 73

To:	Board of Supervisors
From:	David Twa, County Administrator
Date:	November 5, 2019

Contra

Costa

County

Subject:

AUTHORIZATION FOR THE PITTSBURG UNIFIED SCHOOL DISTRICT TO ISSUE BONDS ON ITS OWN BEHALF

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 11/05/2019

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

John Gioia, District I Supervisor
Candace Andersen, District II Supervisor
Diane Burgis, District III Supervisor
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V Supervisor

Contact:	Timothy Ewell, 925-335-1036
cc:	Brian D. Quint, Quint & Thimmig LLP

I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors on the date shown.
ATTESTED: November 5, 2019
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

ADOPT Resolution No. 2019/589 authorizing the issuance and sale of the following bonds by the Pittsburg Unified School District in an aggregate amount not to exceed $32,000,000 on its own behalf pursuant to Sections 15140 and 15146 of the Education Code, as permitted by Section 53508.7(c) of the Government Code:

1. Pittsburg Unified School District General Obligation Bonds, Election of 2010, Series E (2019); and

RECOMMENDATION(S): (CONT'D)

2. Pittsburg Unified School District General Obligation Bonds, Election of 2018, Series A (2019); and

3. Pittsburg Unified School District General Obligation Bonds, Election of 2018, Series B (2018)

FISCAL IMPACT:

There is no fiscal impact to the County.

BACKGROUND:

The Pittsburg Unified School District to issue General Obligation revenue bonds to fund capital improvements throughout the District. The District has requested that the Board of Supervisors adopt a resolution authorizing the direct issuance and sale of the bonds by the District on its own behalf pursuant to Sections 15140 and 15146 of the Education Code, as permitted by Section 53508.7(c) of the Government Code in an amount not to exceed $32,000,000. The District adopted resolutions authorizing the sale of bonds on October 23, 2019.

CONSEQUENCE OF NEGATIVE ACTION:

Without the Contra Costa County Board of Supervisors authorization, the School District would not be able to issue the bonds.

CHILDREN'S IMPACT STATEMENT:

The recommendation supports the following Children's Report Card outcome: Communities that are Safe and Provide a High Quality of Life for Children and Families.