Agenda

Return

C. 68

To:	Board of Supervisors
From:	David Twa, County Administrator
Date:	February 4, 2014

Contra

Costa

County

Subject:

MARTINEZ UNIFIED SCHOOL DISTRICT GENERAL OBLIGATION BONDS, ELECTION OF 2010, SERIES 2014

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 02/04/2014

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

John Gioia, District I Supervisor
Candace Andersen, District II Supervisor
Mary N. Piepho, District III Supervisor
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V Supervisor

Contact:

Timothy Ewell, 925-335-1036

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 4, 2014
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

ADOPT Resolution No. 2014/41 authorizing the issuance and sale of "Martinez Unified School District General Obligation Bonds, Election of 2010, Series 2014" in an amount not to exceed $45,000,000 by Martinez Unified School 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.

FISCAL IMPACT:

There is no fiscal impact to the County.

BACKGROUND:

The Martinez Unified School District intends to issue General Obligation 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 bonds by the District on it's own behalf as authorized by Section 15140(b) of the Education Code.

BACKGROUND: (CONT'D)

The District adopted a resolution on December 9, 2013 authorizing the sale and issuance of the bonds (attached). This issuance was approved by the voters as part of a bond measure listed on the November 2, 2010 ballot.

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:

Certain capital projects within the Martinez Unified School District will not be completed.