Agenda

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C.143

To:	Board of Supervisors
From:	David Twa, County Administrator
Date:	March 31, 2015

Contra

Costa

County

Subject:

SAN RAMON VALLEY UNIFIED SCHOOL DISTRICT GENERAL OBLIGATION BONDS, ELECTION OF 2012, SERIES 2015

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 03/31/2015

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

Candace Andersen, District II Supervisor
Mary N. Piepho, District III Supervisor
Karen Mitchoff, District IV Supervisor

ABSENT:

John Gioia, District I Supervisor
Federal D. Glover, District V Supervisor

Contact:

Lisa Driscoll, 925-335-1023

cc:

Laura Gao, Orrick Marie Rulloda, Auditor Controller's Office Belinda Zhu, Treasurer Tax Collector's Office Timothy Ewell, County Administrator's Office Gerald Kim, Orrick Mary Shelton, Superintendent SRVUSD Scott Anderson, Chief Business Official SRVUSD Laura Franke, Managing Director PFM Bruce Kerns, Managing Director Stifel Randy Merritt, Senior Vice President, Baum Scott Beck, Esq., Kutak Rock LLP Brian Jensen, Transaction Manager, BNY Mellon Trust

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: March 31, 2015
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

ADOPT Resolution No. 2015/105 authorizing the issuance and sale of "San Ramon Valley Unified School District General Obligation Bonds, Election of 2012, Series 2015" in an amount not to exceed $125,000,000 by the San Ramon Valley 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 San Ramon Valley 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 March 10, 2015 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 6, 2012 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 San Ramon Valley Unified School District will not be completed.