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| Meeting Date: |
Tuesday, November 17, 2009 - 7:00 PM |
| Category:
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Other Action Items |
| Type:
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Info/Action |
| Subject:
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Authorization to Proceed with the Implementation of Qualified School Construction Bond (QSCB) Program Funding Plan (Mr. Barge & Mr. Hand) |
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District Goals:
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Goal D
Maximize resources to improve the achievement of students in a safe and positive learning environment |
| Enclosure:
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Qualified School Construction Bonds Report |
| File Attachment:
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| Summary:
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Since the Board-approved filing of the District’s application for participation in the Qualified School Construction Bond Program (QSCB), staff has endeavored to formulate a viable financing plan that would best take advantage of this program’s allowances. This work has now produced a strategy which is detailed here for consideration.
Approval of this plan n will allow staff to move forward with a QSCB financing in advance of the program’s December 31, 2009 mandatory action date deadline. |
| Funding:
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Costs associated with the approval of this tem will be managed through Development Fees, Measure K Funds, and State Building Program moneys. The General Fund will be required to back up the debt obligation of this transaction. |
| Recommendation:
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It is recommended that the Board of Education authorize staff to proceed with the implementation of the Qualified School Construction Bond (QSCB) funding plan. |
| Approvals:
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Recommended By: |
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Signed By: |
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Douglas Barge - Chief Business Officer |
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Signed By: |
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Cathy Washer - Superintendent |
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