Skip to main content
Santa Clara County Civic Gallery Board of Supervisors agenda intelligence

Matter SCC-129228

BOS-2026-73 : Adopt Resolution providing for the issuance of Los Gatos-Saratoga Union High School District 2026-27 Tax and Revenue Anticipation Notes in an amount not-to-exceed $15,000,000.

Budget & Finance Board of Supervisors
3 Documents on file 3.79 MB · 3 extracted · 3 AI summaries
File
SCC-129228
Type
Unknown
Status
Unknown
Requester
Unknown
Introduced
Unknown
Last synced
16 Jul 2026 · 05:45

The papers

3 documents · 3.79 MB
01 157 KB

Resolution Printout

157 KB Extracted AI Summary
file Unknown sha e5bb92287ac9 source Open source document ↗
Generated summary AI-assisted

This document is a resolution from the County of Santa Clara's Finance Agency Administration regarding the issuance of Tax and Revenue Anticipation Notes for the Los Gatos-Saratoga Union High School District for the fiscal year 2026-2027. The resolution recommends adopting a measure to issue notes not exceeding $15,000,000 to assist the District in managing cash flow requirements. The County will not incur any financial liability from this issuance. The District's resolution requesting this borrowing is attached and was adopted on May 28, 2026.

Key points
  • The resolution is for the issuance of Tax and Revenue Anticipation Notes for the Los Gatos-Saratoga Union High School District.
  • The amount of the notes is not to exceed $15,000,000.
  • There is no fiscal impact to the County of Santa Clara.
  • The proceeds will be used to meet the District's cash flow requirements for Fiscal Year 2026-2027.
  • The District has not been accorded fiscal accountability status.
  • The Board of Trustees of the District adopted a resolution on May 28, 2026, requesting the issuance of the notes.
Limitations
  • The document contains a placeholder for the date of the resolution, which is not specified.
  • The document does not specify the exact timing of the cash flow shortfall beyond the fiscal year.
  • The document does not provide specific details about the competitive sale process for the notes.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.

Extracted text preview · 4,263 chars
County of Santa Clara Finance Agency Administration 129228 DATE: June 23, 2026 TO: Board of Supervisors FROM: Margaret Olaiya, Director of Finance SUBJECT: Los Gatos-Saratoga Union High School District 2026-2027 Tax and Revenue Anticipation Notes RECOMMENDED ACTION Adopt Resolution providing for the issuance of Los Gatos-Saratoga Union High School District 2026-27 Tax and Revenue Anticipation Notes in an amount not-to-exceed $15,000,000. FISCAL IMPLICATIONS There is no fiscal impact to the County of Santa Clara (the “County”). The County incurs no financial liability from this financing, and neither the faith and credit nor the taxing power of the County is pledged in any way in connection with the Tax and Revenue Anticipation Notes (the “Notes”) financing. REASONS FOR RECOMMENDATION The proceeds from the Notes issuance will be used by the Los Gatos-Saratoga Union High School District (the “District”) to meet its cash flow requirements for Fiscal Year 2026-2027. The Notes are obligations of the District. A copy of the District’s resolution approving the issuance and related documents are attached to this file and available on the District’s website. CHILD IMPACT The recommended...
02 1.94 MB

County Resolution

1.94 MB Extracted AI Summary
file Unknown sha 1cd3ad561725 source Open source document ↗
Generated summary AI-assisted

This resolution provides for the issuance of Tax and Revenue Anticipation Notes by the Los Gatos-Saratoga Union High School District in an amount not to exceed $15,000,000. The notes are authorized under California Government Code Section 53850 et seq. and are intended to finance various school district expenses. The resolution outlines the terms of issuance, payment sources, and the responsibilities of the County Board and the District regarding the notes.

Key points
  • The resolution authorizes the issuance of up to $15,000,000 in Tax and Revenue Anticipation Notes.
  • The notes are to be issued in the name of the Los Gatos-Saratoga Union High School District.
  • The District has not been accorded fiscal accountability status.
  • The notes will be a general obligation of the District and payable from Unrestricted Revenues.
  • The notes will be issued in denominations of $5,000 or integral multiples thereof.
Limitations
  • The text is truncated and does not provide complete information on all sections.
  • There are unresolved placeholders and missing details regarding the specific terms and conditions of the notes.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.

Extracted text preview · 85,855 chars
RESOLUTION NO. RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COUNTY OF SANTA CLARA, CALIFORNIA, PROVIDING FOR THE ISSUANCE OF LOS GATOS-SARATOGA UNION HIGH SCHOOL DISTRICT 2026-27 TAX AND REVENUE ANTICIPATION NOTES IN AN AMOUNT NOT-TO-EXCEED $15,000,000 WHEREAS, pursuant to Section 53850 et seg. of the Government Code of the State of California (the “Act”) contained in Article 7.6 thereof, entitled “Temporary Borrowing,” on or after the first day of any fiscal year (being July 1), a school district may borrow money by issuing notes for any purpose for which the school district is authorized to use and expend moneys, including but not limited to, current expenses, capital expenditures, investment and reinvestment, and the discharge of any obligation or indebtedness of the school district; and WHEREAS, Section 53853 of the Act requires that, for a school district which has not been accorded fiscal accountability status pursuant to Education Code Sections 1080, 42647 or 42650, such notes must be issued in the name of the school district by the board of supervisors of the county, the county superintendent of which has jurisdiction over the school district, as soon as possible...
03 1.7 MB

District Resolution

1.7 MB Extracted AI Summary
file Unknown sha 19a546d47e5e source Open source document ↗
Generated summary AI-assisted

This resolution authorizes the Los Gatos-Saratoga Union High School District to issue up to $15,000,000 in Tax and Revenue Anticipation Notes for the fiscal year 2026-27. The notes will be issued by the Santa Clara County Board and are intended to cover current expenses and obligations of the District. The resolution outlines the terms of the notes, including their general obligation status, payment sources, and the appointment of a paying agent. It also includes provisions for the issuance process and the management of proceeds from the notes.

Key points
  • The resolution is numbered 25/26-19.
  • The District may borrow up to $15,000,000 through the issuance of Tax and Revenue Anticipation Notes.
  • The notes will be a general obligation of the District and payable from unrestricted revenues.
  • The notes will be issued in denominations of $5,000.
  • The resolution includes provisions for the appointment of a paying agent and the management of proceeds.
Limitations
  • The text is truncated and does not provide complete information on the resolution.
  • There are unresolved placeholders and incomplete sections in the text.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.

Extracted text preview · 75,923 chars
RESOLUTION NO. 25/26-19 RESOLUTION OF THE BOARD OF TRUSTEES OF THE LOS GATOS- SARATOGA UNION HIGH SCHOOL DISTRICT AUTHORIZING THE ISSUANCE OF 2026-27 TAX AND REVENUE ANTICIPATION NOTES AND REQUESTING THE BOARD OF SUPERVISORS OF THE COUNTY OF SANTA CLARA TO ISSUE SAID NOTES WHEREAS, pursuant to Sections 53850 et seg. of the Government Code of the State of California (the “Act”) contained in Article 7.6 thereof, entitled “Temporary Borrowing” on or after the first day of any fiscal year (being July 1), a school district may borrow money by issuing notes for any purpose for which the school district is authorized to use and expend moneys, including but not limited to, current expenses, capital expenditures, investment and reinvestment, and the discharge of any obligation or indebtedness of the school district; and WHEREAS, Section 53853 of the Act provides that such notes must be issued in the name of the school district by the board of supervisors of the county, the county superintendent of schools of which has jurisdiction over such school district, as soon as possible following the receipt of a resolution of the governing board of such school district requesting the borrowing;...