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General Obligation Bond Presentation December 14, 2010.

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Presentation on theme: "General Obligation Bond Presentation December 14, 2010."— Presentation transcript:

1 General Obligation Bond Presentation December 14, 2010

2 Measure J Successful On November 2, voters approved Measure J, authorizing the issuance of $35.4 million in General Obligation Bonds (“GO Bonds”) to fund improvements to the schools of Jefferson School District (“School District”). Page 2 Measure JVotesPercentage Yes2,35467.26% No1,14632.74% Total3,500100.00% Bond Election Result Note: Under Proposition 39, only 55 percent voter approval is required

3 In the next few months, the Board of Education will be asked to approve a series of resolutions related to the passage of Measure J: Next Steps – Legal Page 3 Resolution Confirming Results of Election January Resolution Allowing for Reimbursement of Expenditures Prior to Issuance of Bonds January Formation of Citizens’ Oversight Committee March

4 The School District will need to identify the priority of projects and identify what improvements at each school will be in the first phase of construction. Next Steps – Planning Input from School Sites / Community Meetings 1 st Quarter 2011 Board Study Sessions TBD Construction Delivery Methods January Construction Management RFP/RFQ 1 st Quarter 2011

5 The Financing Team will be working to issue the first series of GO Bonds authorized by Measure J in the first half of 2011 to provide funding for the planning and construction of the first phase of facilities improvements. Next Steps – Financing Page 5 Qualified School Construction Bonds Allocation Results December-January GO Bond Financing Structure 1 st Quarter 2011 Resolution Authorizing Issuance of Debt March GO Bond Ratings Trip TBD Issuance of GO Bonds & Receipt of Proceeds 2 nd Quarter 2011

6 Questions and Answers Page 6

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