Agenda

Return

C.139

To:	Board of Supervisors
From:	Monica Nino, County Administrator
Date:	September 13, 2022

Contra

Costa

County

Subject:

Brentwood Union School District General Obligation Bonds, Election of 2016, Series 2022

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 09/13/2022

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 13, 2022
,

BY:	, Deputy

RECOMMENDATION(S):

ADOPT Resolution No. 2022/324 authorizing the issuance and sale of "Brentwood Union School District General Obligation Bonds, Election of 2016, Series 2022" in an amount not to exceed $50,000,000 by the Brentwood Union 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 Brentwood Union 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. The County has no financial responsibility for repayment of the bonds issued by the District, but must take action only to allow the District to issue the bonds on its own behalf.

BACKGROUND: (CONT'D)

The District adopted a resolution (Resolution No. 2022-12) on August 17, 2022 authorizing the sale and issuance of the bonds (copy attached). This issuance was approved by the voters as part of a $158,000,000 bond measure listed on the June 7, 2016 ballot. Since that time, the District has been issuing bonds in tranches, as needed, to finance improvements at campus locations throughout the District area.

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.