REPORT/RECOMMENDATION TO THE BOARD OF SUPERVISORS
OF THE COUNTY OF SAN BERNARDINO
AND RECORD OF ACTION
October 8, 2019
FROM
MATTHEW ERICKSON, County Chief Financial Officer, Finance and Administration
SUBJECT
Title v
High Desert "Partnership in Academic Excellence" Foundation Tax - Exempt Financing
End
RECOMMENDATION(S)
Recommendation
1. Conduct a Tax Equity and Fiscal Responsibility Act public hearing regarding the issuance of one or more series of revenue bonds in an aggregate principal amount not to exceed $50 million, for the purpose of refinancing and/or financing the acquisition, renovation, improvement, furnishing and equipping of certain charter school educational facilities located in Apple Valley and San Bernardino, each located within the County of San Bernardino.
2. Adopt Resolution approving the issuance of one or more series of revenue bonds in an aggregate principal amount not to exceed $50 million, for the purpose of refinancing and/or financing the acquisition, renovation, improvement, furnishing and equipping of certain charter school educational facilities located in Apple Valley and San Bernardino, each located within the County of San Bernardino.
(Presenter: Amanda Trussell, Principal Administrative Analyst, 387-5423)
Body
COUNTY AND CHIEF EXECUTIVE OFFICER GOALS & OBJECTIVES
Ensure Development of a Well-Planned, Balanced, and Sustainable County.
Provide for the Safety, Health and Social Service Needs of County Residents.
Pursue County Goals and Objectives by Working with Other Agencies.
FINANCIAL IMPACT
Bonds issued under this resolution are limited obligations of the California Enterprise Development Authority (CEDA) payable solely out of the revenues and receipts derived from the loan made by CEDA to the borrower, High Desert "Partnership in Academic Excellence" Foundation, Inc. Pursuant to Section 4.1 of the joint exercise of powers agreement governing CEDA, in which the County is a member, the bonds do not constitute a debt...
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