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Mt. Diablo Unified board elects corporation officers, adopts COPs resolution
Summary
The Mt. Diablo Unified School District’s Education Facilities Financing Corporation elected its president and vice president and unanimously approved Resolution 25/26-1, authorizing a leasing mechanism tied to Certificates of Participation. Bond counsel explained the election may be done by office to maintain continuity.
The Mt. Diablo Unified School District’s Education Facilities Financing Corporation met in a special session on Nov. 12, 2025, to elect corporation officers and adopt a financing resolution. Trustees voted unanimously to appoint the district’s school board president as corporation president and the seated board vice president as corporation vice president, and approved Resolution 25/26-1 to enable a leasing mechanism for issuing Certificates of Participation (COPs).
The meeting opened with roll call and brief presentations. Chief Business Officer Adrian Vargas outlined the agenda for the special meeting and said the resolution is part of a financing plan similar to the COPs the district used in 2018. Bond counsel Chick Adams of Jones Hall was present to advise the board on legal and procedural questions.
The purpose of the corporation and resolution is to provide the district a mechanism to finance facility projects using certificates of participation. As Adams explained during a question about term length, "The answer is that the election is in effect until it's superseded by another election." He added that the board may elect officers "by office"—for example, naming the school board president as the corporation president—so that the corporation position follows changes in the school board office automatically.
A trustee nominated that the MDUSD school board president serve as president of the financing corporation; with no further nominations, the board closed nominations and the motion was adopted on a 5-0 vote. The board likewise approved a motion to designate the seated board vice president as the corporation vice president; members resolved a brief clerical discrepancy in the agenda display before voting to adopt that appointment.
Trustee Mason moved and Trustee Lawrence seconded a motion to adopt Resolution 25/26-1, which the board approved 5-0. The resolution, as presented in the meeting materials, confirms appointments (Dr. Clark to serve as executive director and secretary; Adrian Vargas to serve as treasurer/CFO of the financing corporation) and authorizes the leasing mechanism tied to COP issuance. The board president announced there was no public comment and adjourned the special meeting.
The district scheduled a regular board meeting to follow, at which staff said they would provide more detail on the financing structure and next steps for any issuance of COPs.
