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Committee amends Live Oak School bond resolution and forwards it to the Board

San Francisco Board of Supervisors, Government Audit and Oversight Committee · May 31, 2012
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Summary

The committee considered a resolution approving tax‑exempt revenue obligations not to exceed $6,750,000 for Live Oak School, noted and corrected a typographical hearing‑date error in the resolution, and forwarded the corrected resolution to the full Board.

The committee took up a resolution authorizing the California Enterprise Development Authority to issue tax‑exempt revenue obligations of up to $6,750,000 for Live Oak School to refinance existing obligations for savings. A Controller's public finance representative said the City bears no repayment responsibility and noted a typographical error on page 2, line 23 of the resolution that listed a 2010 hearing date; the presenter confirmed the hearing occurred on April 27, 2012.

Committee members moved to rescind the prior vote and amend the resolution to correct the date. The committee amended the resolution and sent it forward to the full Board with a committee recommendation; the action was taken without recorded objection.

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