Agenda

Return

C.98

To:	Board of Supervisors
From:	David Twa, County Administrator
Date:	February 24, 2009

Contra

Costa

County

Subject:

PITTSBURG UNIFIED SCHOOL DISTRICT GENERAL OBLIGATION BONDS

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 02/24/2009

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

John Gioia, District I Supervisor
Gayle B. Uilkema, District II Supervisor
Mary N. Piepho, District III Supervisor
Susan A. Bonilla, District IV Supervisor
Federal D. Glover, District V Supervisor

Contact:	Lisa Driscoll (925) 335-1023
cc:	Lisa Driscoll, County Finance Director Brice Bins, Assistant Treasurer Steve Ybarra, County Auditor-Controller

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: February 24, 2009
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

ADOPT Resolution 2009/48 authorizing, on behalf of Pittsburg Unified School District, the sale and issuance of General Obligation Bonds, Election of 2006, Series B, in a principal amount not to exceed $35,000,000.

FISCAL IMPACT:

There is no fiscal impact to the County.

BACKGROUND:

Under state law, the Contra Costa County Board of Supervisors is required to authorize the sale and issuance of General Obligation bonds for school districts within the County. No financial obligation is assumed with these authorizations.

BACKGROUND: (CONT'D)

The School District is issuing these bonds on authority granted by voter approval on November 7, 2006.

CONSEQUENCE OF NEGATIVE ACTION:

Without the Contra Costa County Board of Supervisors authorization, the School District would not be able to issue the bonds, thereby delaying or preventing the implementation of projects approved by voters.