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Adopt a resolution authorizing the Solano Community College District to proceed with the sale of a third bond series, entitled Series C, in an amount not to exceed $90,000,000 as authorized under the Election of 2012 General Obligation Bonds which authorized a total issuance up to $348,000,000, pursuant to Education Code section 15140 et seq. and Government Code section 53506 et seq.
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Published Notice Required? Yes ____ No _X _
Public Hearing Required? Yes ____ No _X _
DEPARTMENTAL RECOMMENDATION:
The County Treasurer/Tax Collector/County Clerk recommends that the Board adopt a resolution authorizing the Solano Community College District to proceed with the sale of a third bond series, entitled Series C, in an amount not to exceed $90,000,000 as authorized under the Election of 2012 General Obligation Bonds which authorized a total issuance up to $348,000,000, pursuant to Education Code section 15140 et seq. and Government Code section 53506 et seq.
SUMMARY:
The Board of Education (District Board) of the Solano Community College District (District) conducted a successful bond election on November 6, 2012. The passage of Measure Q with more than fifty-five percent of the vote authorized the issuance of up to $348,000,000 of General Obligation Bonds to finance various construction, reconstruction, rehabilitation, or replacement of those community college district facilities as designated in the District's resolution ordering the election.
The District Board on March 15, 2017 adopted a resolution (District Resolution) providing for the issuance and sale by the District of bonds in an aggregate principal amount not-to-exceed $90,000,000, to be designated as the Solano Community College District (Solano and Yolo Counties, California) Election of 2016, General Obligation Bonds, Series C (Series C Bonds). This District Resolution requests that the Board of Supervisors authorize the District to issue and sell its proposed Series C Bond...
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