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Meeting Date:
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2/13/2024 - 5:30 PM
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Category:
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Board Policies, Second Reading
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Type:
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Action
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Subject:
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6.16 Consider Approval of the Second Reading and Adopt New Board Policy 3470 Debt Issuance and Management
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Strategic Plan:
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Enclosure
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File Attachment:
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Summary:
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New policy reflects NEW LAW (SB 1029, 2016) which mandates that boards adopt a debt management policy prior to issuing any debt, including, but not limited to, general obligation bonds, tax and revenue anticipation notes, and certificates of participation. Policy addresses the components mandated by law, including (1) the purposes for which the debt proceeds may be used; (2) the types of debt that may be issued; (3) the relationship of the debt to, and integration with, the district's capital improvement program or budget, if applicable; (4) policy goals related to the district's planning goals and objectives; and (5) internal control procedures to ensure that the proceeds of the proposed debt issuance will be directed to the intended use.
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Funding:
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Recommendation:
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It is recommended that the Governing Board of Trustees approve the second reading and adopt new Board Policy 3470 Debt Issuance and Management.
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Approvals:
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Recommended By:
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Signed By:
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Marc Lacey - Assistant Superintendent, Administrative Services
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Signed By:
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Robin Schreiner - Senior Director, Business Services
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Signed By:
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Jesse M. Najera - Superintendent
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Vote Results:
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| Original Motion | | Member Mark Staggs Moved, Member Brian Boatwright seconded to approve the Original motion 'It is recommended that the Governing Board of Trustees approve the second reading and adopt new Board Policy 3470 Debt Issuance and Management.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 5 Nay: 0. | | The motion Carried 5 - 0 |
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