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Meeting Date:
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Category:
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BUSINESS SERVICES - ACTION ITEMS |
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Type:
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Subject:
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9.4 Resolution No. 14 - 2024/2025 Making a Determination to submit a waiver request to the California State Board of Education with respect to certain provisions of the education code relating to the issuance of General Obligation Bonds, and approving related documents and actions. |
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Strategic Plans:
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Enclosure:
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File Attachment:
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Rationale:
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Funding:
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Background: |
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State law limits the amount of outstanding bonded indebtedness an elementary school district may have to 1.25% of the taxable property of the school district, unless that provision has been waived by the State Board of Education pursuant to standard waiver provisions available in the Education Code. In order to issue bonds under the new Measure H and existing Measures C and S, the District will need to seek a waiver of bonding capacity, seeking a bonding capacity of 1.63% of taxable property in the District. |
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Recommendation
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Approve Resolution No. 14 - 2024/2025 Making a Determination to submit a waiver request to the California State Board of Education with respect to certain provisions of the Education Code relating to the issuance of General Obligation Bonds, and approving related documents and actions. |
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Approvals:
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Recommended By: |
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Signed By: |
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Francine Story - CBO |
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Signed By: |
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Bruce Bivins - Superintendent |
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Vote Results:
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| Original Motion | | Member Lydia Mora Moved, Member Erika Guzman Medina seconded to approve the Original motion 'Approve Resolution No. 14 - 2024/2025 Making a Determination to submit a waiver request to the California State Board of Education with respect to certain provisions of the Education Code relating to the issuance of General Obligation Bonds, and approving related documents and actions.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 5 Nay: 0. | | The motion Carried 5 - 0 | | | | | Douglas Corona | Yes | | Erika Guzman Medina | Yes | | Carol Jimenez | Yes | | Lydia Mora | Yes | | Katie McClendon | Yes | |
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