DATE:
May 18, 2021
24
TO:
Board of Supervisors
SUBJECT
Title
CARLSBAD UNIFIED SCHOOL DISTRICT GENERAL OBLIGATION BONDS (ELECTION OF 2018, SERIES B) (DISTRICT: 5)
Body
OVERVIEW
A bond election was held in the Carlsbad Unified School District, County of San Diego, California ("District") on November 6, 2018, at which at least 55% of the voters casting ballots authorized the issuance of general obligation bonds of the District in the maximum aggregate principal amount of $265,000,000 ("Proposition HH Authorization"). The Board of the District ("District Board") has issued or caused to be issued approximately $84,995,000 aggregate principal amount of general obligation bonds under the Proposition HH Authorization, over one series of bonds and carries a remaining amount of approximately $180,005,000. On March 10, 2021, the District Board authorized the issuance of the Series B bonds under the Proposition HH Authorization in an aggregate principal amount not to exceed $93,000,000 to be designated as the "Carlsbad Unified School District General Obligation Bonds, Election of 2018, Series B ("Series B GO Bonds"). Following the issuance of the Series B GO Bonds there will be approximately $87,005,000 remaining of the Proposition HH Authorization.
Today's recommendation will request adoption of a resolution for the issuance of the Series B GO Bonds. The resolution includes authorizing the County on behalf of the District to issue and sell Series B GO Bonds, designating the Treasurer-Tax Collector of San Diego as the Paying Agent, executing a Paying Agent and Investment Management Agreement and directing the Auditor and Controller to maintain the tax roll for the Series B GO Bonds.
RECOMMENDATION(S)
CHIEF ADMINISTRATIVE OFFICER
1. Adopt a resolution entitled:
RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, AUTHORIZING THE CARLSBAD UNIFIED SCHOOL DISTRICT TO ISSUE AND SELL BONDS, APPROVING THE FORM OF AND AUTHORIZING ...
Click here for full text