Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Bond Finance topic
No spam. Unsubscribe anytime.
Board certifies $450 million bond results, appoints oversight committee
Summary
The board certified the Nov. 7 bond election results, approved formation of a Citizens Bond Oversight Committee, and declared the district's intent to reimburse eligible project expenditures from bond proceeds; board clarified administrative language to have the board president deliver required certifications to county offices.
The San Francisco Unified School District board certified results of the Nov. 7, 2006 $450 million general obligation bond election and approved steps needed to implement the measure, including appointment of an independent Citizens Bond Oversight Committee and a formal statement that the district intends to reimburse qualified project expenditures from bond proceeds.
Legal counsel read statutory findings and timeline constraints under the Education Code. Board members requested a minor phrasing change to direct the board president rather than the board secretary to deliver certain documents to the County Office; counsel and staff said the change would be made and the motion was approved. Commissioner Kelly asked staff to clarify the intent for green schoolyard funds included in the bond; staff said the original drafting transposed flexible language and the district—s intent is to honor the green-schoolyard commitment. The board passed the resolution by roll call.
Next steps: Staff will finalize administrative language, deliver required certifications to the county, and the Citizens Bond Oversight Committee will be appointed to provide public oversight on bond proceeds.
