Agenda

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C. 91

To:	Board of Supervisors
From:	David Twa, County Administrator
Date:	April 14, 2015

Contra

Costa

County

Subject:

PITTSBURG UNIFIED SCHOOL DISTRICT GENERAL OBLIGATION BONDS, ELECTION OF 2014, SERIES A (2015)

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 04/14/2015

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

ABSENT:

Federal D. Glover, District V Supervisor

Contact:	Lisa Driscoll, 925-335-1036
cc:	Mr. Enrique E. Palacios, Deputy Superintendent Belinda Zhu, Assistant County Treasurer Timothy Ewell, County Administration Robert Campbell, Auditor-Controller David Olson, PFM Brian D. Quint, Esq. Randy Merritt, George K. Baum & Company

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: April 14, 2015
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

ADOPT Resolution No. 2015/106 authorizing the issuance and sale of "Pittsburg Unified School District General Obligation Bonds, Election of 2014, Series A (2015)" in an amount not to exceed $30,000,000 by the Pittsburg 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 Pittsburg 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 25, 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 4, 2014 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.