Agenda

Return

C.131

To:	Board of Supervisors
From:	David Twa, County Administrator
Date:	July 9, 2019

Contra

Costa

County

Subject:

Oakley Union Elementary School District General Obligation Bonds, Election of 2016, Series B (2019)

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 07/09/2019

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

Candace Andersen, District II Supervisor
Diane Burgis, District III Supervisor
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V Supervisor

ABSENT:

John Gioia, District I 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: July 9, 2019
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

ADOPT Resolution No. 2019/493 authorizing the issuance and sale of "Oakley Union Elementary School District General Obligation Bonds, Election of 2016, Series B (2019)" in an amount not to exceed $5,000,000 by the Oakley Union Elementary 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 Oakley Union Elementary 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 June 19, 2019 authorizing the sale and issuance of the bonds. This issuance was approved by the voters as part of a bond measure listed on the November 8, 2016 ballot.

CONSEQUENCE OF NEGATIVE ACTION:

Without the Contra Costa County Board of Supervisors authorization, the School District will 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.