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Approve a resolution consenting to and authorizing the Dixon Unified School District (DUSD) to issue and sell DUSD General Obligation Bonds, Election of 2016, Series 2019 without further action of the Board of Supervisors; and Direct the County Auditor-Controller to levy the taxes for such bonds and maintain taxes on the tax roll
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Published Notice Required? Yes ____ No _X _
Public Hearing Required? Yes ____ No _X _
DEPARTMENTAL RECOMMENDATION:
It is recommended that the Board of Supervisors approve a resolution authorizing the DUSD to issue and sell DUSD General Obligation Bonds, Election of 2016, Series 2019 without further action of the Board of Supervisors and direct the County Auditor - Controller to levy the taxes for such bonds and maintain the taxes on the tax roll.
SUMMARY:
On April 18, 2019 the governing board of the DUSD voted unanimously to authorize the issuance of General Obligation Bonds, Election of 2016, Series 2019. In accordance with California Education Code ?15140(b), the district has requested the Solano County Board of Supervisors consent to authorize the issuance and direct the County Auditor-Controller to levy the taxes for such bonds and maintain the taxes on the tax roll.
FINANCIAL IMPACT:
Repayment for bonds issued in accordance with this authorization will be solely the responsibility of the DUSD. All costs associated with preparing the agenda item are nominal and absorbed by the department's FY2018/19 Adopted Budget.
ALTERNATIVES:
The Board of Supervisors could elect not to authorize issuance. This is not recommended as the issuance has voter approval and doing so will impair the district's ability to fund necessary facility improvements.
OTHER AGENCY INVOLVEMENT:
County Counsel, County Administrator, Solano County Office of Education, and the DUSD have been directly involved in this request. The districts adopted resolution requesting the action is attached.
CAO RECOMMENDATION:
APPROVE DEPAR...
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