To: Board of Supervisors
From: Monica Nino, County Administrator
Report Title: Pittsburg Unified School District - Election of 2024 General Obligation Bonds, Series A (2025)
?Recommendation of the County Administrator ? Recommendation of Board Committee
RECOMMENDATIONS:
ADOPT Resolution No. 2025-94 authorizing the issuance and sale of "Pittsburg Unified School District, General Obligation Bonds, Election of 2024, Series A (2025)" in an amount not to exceed $45,000,000 by the Pittsburg Unified School District on its own behalf pursuant to Sections 15140 and 15146 of the Education Code, as permitted by Section 53508.7(c) of the Government Code.
FISCAL IMPACT:
There is no fiscal impact to the County.
BACKGROUND:
The Pittsburg Unified School District intends to issue new General Obligation bonds to fund capital improvements throughout the District. The District has requested that the Board of Supervisors adopt a resolution authorizing the direct issuance and sale of the bonds by the District on its own behalf as authorized by Section 15140(b) of the Education Code.
On March 19, 2025, the District adopted a resolution authorizing the issuance of up to $45,000,000 (attached) for the sale and issuance of new bonds, which was approved by the voters as part of a bond measure (Measure P) listed on the November 5, 2024 ballot. Measure P authorized an aggregate principal bond issuance authority of up to $140,000,000.
The ballot measure cited several capital projects that the District is in need of funding, including the repair, upgrade and expansion of local schools; fixing leaky roofs; improving safety, security and accessibility for students with disabilities; updating classrooms and labs for math, reading, writing and science as well as the prevention of student overcrowding.
The District has not previously issued bonds under the Measure P authority. Following today's authorization of $45,000,000 in Series A bonds, the District would have $95,000,000 of bond auth...
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