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Santa Clara County Civic Gallery Board of Supervisors agenda intelligence

Matter SCC-128951

BOS-2026-53 : Adopt Resolution authorizing the Orchard School District to sell Election of 2001 General Obligation Bonds, Series D on its own behalf in an amount not to exceed $3,350,000.

Budget & Finance Board of Supervisors
2 Documents on file 415 KB · 2 extracted · 2 AI summaries
File
SCC-128951
Type
Unknown
Status
Unknown
Requester
Unknown
Introduced
Unknown
Last synced
15 Jul 2026 · 02:53

The papers

2 documents · 415 KB
01 173 KB

Resolution Printout

173 KB Extracted AI Summary
file Unknown sha 3b803b0ed0d1 source Open source document ↗
Generated summary AI-assisted

The source text indicates this attachment appears to be a draft document.

The document is a resolution from the County of Santa Clara's Finance Agency Administration regarding the Orchard School District's request to sell General Obligation Bonds, Series D, not exceeding $3,350,000. It outlines the lack of fiscal impact on the County and the positive implications for children by improving school facilities. The resolution is necessary for the District to issue the bonds as per Education Code 15140(b).

Key points
  • The resolution authorizes the Orchard School District to sell General Obligation Bonds, Series D.
  • The amount not to exceed is $3,350,000.
  • There is no fiscal impact to the County of Santa Clara.
  • The bond proceeds must be deposited into the County Treasury until expended.
  • The action will positively impact children and youth by improving school facilities.
  • The District's resolution is required for the bond issuance under California Education Code Section 15140(b).
Limitations
  • The document appears to be a draft as it includes placeholders and unfilled options.
  • The date mentioned is May 19, 2026, but it is unclear if this is the actual date of the resolution.

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

Extracted text preview · 3,725 chars
County of Santa Clara Finance Agency Administration 128951 DATE: May 19, 2026 TO: Board of Supervisors FROM: Margaret Olaiya, Director of Finance SUBJECT: Orchard School District Election of 2001 General Obligation Bonds, Series D RECOMMENDED ACTION Adopt Resolution authorizing the Orchard School District to sell Election of 2001 General Obligation Bonds, Series D on its own behalf in an amount not to exceed $3,350,000. 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 this financing. The attached resolution, as written, allows the County to recover any additional investment management costs incurred by the County to invest outside of the County Pooled Investment Fund (the “Commingled Pool”). These include, but are not limited to, staffing or financial resources expended on behalf of the Orchard School District (the “District”) beyond those provided by the Commingled Pool. REASONS FOR RECOMMENDATION This resolution is required by Education Code 15140(b) for the District...
02 242 KB

County Resolution

242 KB Extracted AI Summary
file Unknown sha 3bc1cfbc122b source Open source document ↗
Generated summary AI-assisted

The source text indicates this attachment appears to be a draft document.

This resolution authorizes the Orchard School District to issue and sell its own Election of 2001 General Obligation Bonds, Series D, in an amount not to exceed $3,350,000. The resolution confirms that the District has not received a qualified or negative certification in its most recent interim report. It allows the County to levy property taxes to pay for the bonds and outlines the responsibilities and liabilities of the County regarding the bonds. The resolution takes effect immediately upon its passage.

Key points
  • The resolution authorizes the Orchard School District to sell bonds up to $3,350,000.
  • The District has not received a qualified or negative certification in its most recent interim report.
  • The County will levy property taxes to pay for the bonds.
  • The resolution outlines the County's lack of liability regarding the bonds.
  • The resolution takes effect immediately upon passage.
Limitations
  • The document contains unresolved placeholders for the date of passage and the vote tally (AYES, NOES, ABSTAIN, ABSENT).
  • The document appears to be a draft as it includes incomplete sections and placeholders.

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

Extracted text preview · 10,079 chars
RESOLUTION NO. RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COUNTY OF SANTA CLARA, CALIFORNIA, AUTHORIZING THE ORCHARD SCHOOL DISTRICT TO SELL ON ITS OWN BEHALF ELECTION OF 2001 GENERAL OBLIGATION BONDS, SERIES D IN AN AMOUNT NOT TO EXCEED $3,350,000 WHEREAS, a duly called election was held in the Orchard School District (the “District”, Santa Clara County, State of California, on November 6, 2001 (the “Election”) and thereafter canvassed pursuant to law; WHEREAS, at the Election there was submitted to and approved by the requisite fifty-five percent or more vote of the qualified electors of the District a question as to the issuance and sale of general obligation bonds of the District for the various purposes set forth in the ballot submitted to the voters, in the maximum principal amount of $40,000,000, payable from the levy of an ad valorem property tax against the taxable property in the District (the “Authorization”); WHEREAS, on April 21, 2026, the Board of Trustees of the District adopted a Resolution (the “District Resolution”), which caused to be issued the fourth series of bonds under the Authorization in an aggregate principal amount not-to-exceed $3,350,000, and to...