Agenda

Return

C. 44

To:	Board of Supervisors
From:	David Twa, County Administrator
Date:	February 11, 2020

Contra

Costa

County

Subject:

Antioch Unified School District, School Facilities Improvement District No. 1 General Obligation Bonds, Election of 2008, Series E

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 02/11/2020

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
Federal D. Glover, District V Supervisor

ABSENT:

Karen Mitchoff, District IV 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 11, 2020
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

ADOPT Resolution No. 2020/48 authorizing the issuance and sale of "Antioch Unified School District, School Facilities Improvement District No. 1 General Obligation Bonds, Election of 2008, Series E" in an amount not to exceed $10,750,000 by the Antioch 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 Antioch 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 its own behalf as authorized by Section 15140(b) of the Education Code.

BACKGROUND: (CONT'D)

The District adopted a resolution on January 22, 2020 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 June 3, 2008 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:

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.