HomeMy WebLinkAboutMINUTES - 01122010 - C.126RECOMMENDATION(S):
ADOPT Resolution No. 2010/1 authorizing, on behalf of Pittsburg Unified School District, the sale and issuance of
Tax and Revenue Anticipation Notes (TRANs) in an amount not to exceed $10,000,000.
FISCAL IMPACT:
There is no fiscal impact to the County.
BACKGROUND:
Under state law, the Contra Costa County Board of Supervisors is required to authorize the sale and issuance of
TRANs for school districts within the County. No financial obligation is assumed with these authorizations. The
County’s Treasurer/Tax Collector is the paying agent for these notes.
The School District is issuing these TRANs to meet financial needs of the District for fiscal year 2009-2010.
CONSEQUENCE OF NEGATIVE ACTION:
Without the Contra Costa County Board of Supervisors authorization, the School District would not be able to issue
the TRANs, thereby delaying or prohibiting payment of necessary school expenses.
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD
COMMITTEE
Action of Board On: 01/12/2010 APPROVED AS RECOMMENDED OTHER
Clerks Notes:
VOTE OF SUPERVISORS
AYES 5 NOES ____
ABSENT ____ ABSTAIN ____
RECUSE ____
Contact: Lisa Driscoll, County Finance Director
925-335-1023
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: January 12, 2010
David J. Twa, County Administrator and Clerk of the Board of
Supervisors
By: June McHuen, Deputy
cc: Brice Bins, Assistant Treasurer, Marie Rulloda, Special Accounting, Lisa Driscoll, County Finance Director, Brian Quint, Quint & Thimmig LLP
C.126
To:Board of Supervisors
From:Lisa Driscoll, County Administrator
Date:January 12, 2010
Contra
Costa
County
Subject:Pittsburg Unified School District $10,000,000 FY 2009-2010 Tax and Revenue Anticipation Notes