To: Board of Supervisors
From: Monica Nino, County Administrator
Report Title: Walnut Creek School District - Election of 2022 General Obligation Bonds, Series B
?Recommendation of the County Administrator ? Recommendation of Board Committee
RECOMMENDATIONS:
ADOPT Resolution No. 2025-75 authorizing the issuance and sale of "Walnut Creek School District, Election of 2022 General Obligation Bonds, Series B" in an amount not to exceed $32,000,000 by the Walnut Creek 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 Walnut Creek 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 10, 2025, the District adopted a resolution authorizing the issuance of up to $32,000,000 (attached) for the sale and issuance of new bonds, which was approved by the voters as part of a bond measure (Measure J) listed on the November 8, 2022 ballot. Measure J authorized an aggregate principal bond issuance authority of up to $134,000,000.
The ballot measure cited several capital projects that the District is in need of funding, including the upgrade and modernization of classrooms, restrooms, libraries and other school facilities along with energy efficiency upgrades and health, safety and security improvements to District property.
The District previously issued Series A bonds in the amount of $65,000,000 under the authority of Measure J on May 11, 2023. Combined with the Series B bonds under consideration today, in the amount of $32,000,000, the District would have $37,000,000 of bond authority remaining under Measur...
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