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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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9.5 Resolution No. 34 - 2024/2025 Authorizing the Issuance and Sale of 2025 General Obligation Refunding Bonds in an aggregate principal amount not to exceed $4,000,000 to refund outstanding General Obligation Bonds and approving all 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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The District desires to initiate proceedings for the issuance of general obligation refunding bonds in order to realize debt savings to the taxpayers of the District by refunding outstanding General Obligation Bonds Election of 2014, Series 2014A. The resolution authorizes the refunding bonds to be issued as current interest bonds through a negotiated sale, and approves in form the Bond Purchase Agreement and Preliminary Official Statement. In addition, this resolution approves a form Escrow Agreement, which is available for review. |
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Recommendation
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Approval of Resolution No. 34 - 2024/2025 Authorizing the Issuance and Sale of 2025 General Obligation Refunding Bonds in an aggregate principal amount not to exceed $4,000,000 to refund outstanding General Obligation Bonds and approving all 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 Carol Jimenez Moved, Member Lydia Mora seconded to approve the Original motion 'Approval of Resolution No. 34 - 2024/2025 Authorizing the Issuance and Sale of 2025 General Obligation Refunding Bonds in an aggregate principal amount not to exceed $4,000,000 to refund outstanding General Obligation Bonds and approving all 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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