Issuing Bonds and Board Committees

This week, closed session begins at 6:00pm. The board will reconvene for open session starting around 7pm in the LASD Board Room at 201 Covington Rd.  The entire agenda can be found here.

The lion's share of this special meeting will be spent discussing the issuance of Measure N approved bonds to make way for the purchase of the 10th site.  Randy Kenyon will present resolutions Authorizing the Issuance of General Obligation Bonds and Bond Anticipation Notes.  The General Obligation Bonds are the standard bonds schools issue when they have passed bond measures, are tax exempt, and, in this case, comprise $70 million of what the board is asked to authorize.  The Bond Anticipation Notes are different. We are asked to issue $80 million in these types of notes to cover the purchase of part of the 10th site that includes the Development Rights.  These notes are not tax exempt and become due quicker.  The District will pay off the Bond Anticipation Notes as soon as it receives the proceeds from the sale of Transfers of Development rights.  The resolutions the Board is asked to approve and the supporting documents (purchase agreements and preliminary statements) can be found under agenda items E.1 and E.2 using the link above.  

We will end the meeting with approval of 2019 Board Committee and Appointments.  This is an action item and the list can be found under agenda item E.3.

Please note, this is just the highlights of what is on the agenda for the 12/17/2018 meeting.  You can inform yourself about the rest of the agenda at the link provided above.  As always, feel free to email me with any questions.   ​