To: Board of Supervisors
From: Dan Mierzwa, Treasurer-Tax Collector
Report Title: Issuance of West Contra Costa Unified School District Bonds
☐Recommendation of the County Administrator ☐ Recommendation of Board Committee
RECOMMENDATIONS:
ADOPT Resolution authorizing the issuance of the West Contra Costa Unified School District General Obligation Bonds, 2020 Election, 2024 Series B and General Obligation Bonds, 2020 Election, 2024 Series C, in an aggregate principal amount not to exceed $250,000,000 by the County on behalf of the District.
FISCAL IMPACT:
There is no fiscal impact to the County.
BACKGROUND:
The West Contra Costa Unified School District intends to issue General Obligation bonds to fund capital improvements throughout the District. The District received a qualified certification and, therefore, cannot issue bonds on its own behalf. The County is required to issue bonds on behalf of the District pursuant to Section 15140(a) of the Education Code.
The District adopted a resolution on September 11, 2024, authorizing the sale and issuance of the bonds. This issuance was approved by the voters as part of a bond measure listed on the March 3, 2020 ballot.
CONSEQUENCE OF NEGATIVE ACTION:
Without the Contra Costa County Board of Supervisors’ authorization, the bonds will not be sold to facilitate capital projects within the District.
THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA
and for Special Districts, Agencies and Authorities Governed by the Board
body
The Board of Supervisors adopts Resolution No. 2024-345, the full text of which is included as Attachment A.