HomeMy WebLinkAboutMINUTES - 02122013 - C.51RECOMMENDATION(S):
ADOPT Resolution No. 2013/91 authorizing the issuance and sale of "San Ramon Valley Unified School District
General Obligation Bonds, Election of 2012, Series 2013" in an amount not to exceed $75,000,000 by the San
Ramon Valley Unified School District on its own behalf pursuant to Sections 15140 and 15146 of the Education
Code, as permitted by Section 53508.7(c) of the Government Code.
FISCAL IMPACT:
There is no fiscal impact to the County.
BACKGROUND:
The San Ramon Valley Unified 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 it's own behalf as authorized by Section 15140(b)
of the Education Code.
The District adopted a resolution on January 29, 2013 authorizing the sale and issuance of the bonds (attached). This
issuance was approved by the voters as part of a bond measure listed on the November 6, 2012 ballot.
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
Action of Board On: 02/12/2013 APPROVED AS RECOMMENDED OTHER
Clerks Notes:
VOTE OF SUPERVISORS
AYE:John Gioia, District I Supervisor
Candace Andersen, District II
Supervisor
Mary N. Piepho, District III
Supervisor
Karen Mitchoff, District IV
Supervisor
Federal D. Glover, District V
Supervisor
Contact: Timothy Ewell,
925-335-1036
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: February 12, 2013
David Twa, County Administrator and Clerk of the Board of Supervisors
By: June McHuen, Deputy
cc:
C. 51
To:Board of Supervisors
From:David Twa, County Administrator
Date:February 12, 2013
Contra
Costa
County
Subject:SAN RAMON VALLEY UNIFIED SCHOOL DISTRICT GENERAL OBLIGATION BONDS, ELECTION OF
2012, SERIES 2013
BACKGROUND: (CONT'D)
CONSEQUENCE OF NEGATIVE ACTION:
Without the Contra Costa County Board of Supervisors authorization, the School District would not be able to
issue the bonds.
CHILDREN'S IMPACT STATEMENT:
Certain capital projects within the San Ramon Valley Unified School District will not be completed.
ATTACHMENTS
Resolution No. 2013/91
Body of Resolution No. 2013/91
District Resolution
A-3 OHSUSA:752914798.3
by order of the Board of Education duly made and entered on its minutes. The Bonds represent
an obligation payable out of the interest and sinking fund of the District, and the money for the
payment of principal of, premium, if any, and interest hereon, shall be raised by taxation upon
the taxable property of the District.
Unless this Bond is presented by an authorized representative of The Depository Trust
Company, a New York corporation (“DTC”), to the Paying Agent for registration of transfer,
exchange, or payment, and any Bond issued is registered in the name of Cede & Co. or in such
other name as is requested by an authorized representative of DTC (and any payment is made to
Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR
TO ANY PERSON IS WRONGFUL inasmuch as the Registered Owner hereof, Cede & Co., has
an interest herein.
This Bond shall not be entitled to any benefit under the Resolution, or become valid or
obligatory for any purpose, until the certificate of authentication and registration hereon
endorsed shall have been signed by the Paying Agent.
IN WITNESS WHEREOF, the Board of Education of the San Ramon Valley Unified
School District, County of Contra Costa, State of California, has caused this bond to be signed
by its President and countersigned by the Clerk of said Board, as of the date set forth above.
President of the Board of Education of the
San Ramon Valley Unified School District
Countersigned:
Clerk of the Board of Education of the San
Ramon Valley Unified School District