Agenda

Return

C. 78

To:	Board of Supervisors
From:	David Twa, County Administrator
Date:	September 22, 2020

Contra

Costa

County

Subject:

Walnut Creek School District General Obligation Bonds, Election of 2016, Series C (2020)

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 09/22/2020

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, 925-655-2043

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: September 22, 2020
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

ADOPT Resolution No. 2020/238 authorizing the issuance and sale of "Walnut Creek School District General Obligation Bonds, Election of 2016, Series C (2020)" in an amount not to exceed $20,000,000 by the Walnut Creek School District on its own behalf pursuant to Section 15140(b) of the Education Code.

FISCAL IMPACT:

There is no fiscal impact to the County.

BACKGROUND:

The Walnut Creek 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 September 8, 2020 authorizing the sale and issuance of the bonds (copy attached). This issuance was approved by the voters as part of a $60,000,000 bond measure listed on the June 7, 2016 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 as proposed.

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.