Agenda

Return

C. 79

To:	Board of Supervisors
From:	David Twa, County Administrator
Date:	May 26, 2020

Contra

Costa

County

Subject:

WEST CONTRA COSTA UNIFIED SCHOOL DISTRICT - BOND FINANCING

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 05/26/2020

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
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V Supervisor

Contact:	Timothy Ewell, (925) 335-1036
cc:	Bob Campbell, Auditor-Controller Russell V. Watts, Treasurer-Tax Collector

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: May 26, 2020
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

ADOPT Resolution No. 2020/148 authorizing the issuance of the West Contra Costa Unified School District General Obligation Bonds, 2010 Elections, 2020 Series F in and aggregate principal amount not to exceed $65,000,000 and 2012 Election, 2020 Series E in an aggrgate principal amount not to exceed $65,000,000 by the County on behalf of the District. (No fiscal impact)

FISCAL IMPACT:

There is no fiscal impact to the County.

BACKGROUND:

The West Contra Costa Unified School District intends to issue General Obligation bonds to fund capital improvements throughout the District. The District received a qualified certification and, therefore, cannot issue bonds on its own behalf. The County is required to issue bonds on behalf of the District pursuant to Section 15140(a) of the Education Code.

BACKGROUND: (CONT'D)

The District adopted a resolution on May 6, 2020 authorizing the sale and issuance of the bonds. This issuance was approved by the voters as part of a bond measure listed on the June 8, 2010 and November 6, 2012 ballots.

CONSEQUENCE OF NEGATIVE ACTION:

Without the Contra Costa County Board of Supervisors authorization the bonds will not be sold to facilitate capital projects within the District.

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.