This resolution allows the San Francisco Unified School District to issue and sell up to $284.25 million in General Obligation Bonds to fund school projects. It also approves the terms of the sale and necessary agreements related to the bonds.
Resolution authorizing the issuance and sale of bonds of the San Francisco Unified School District; prescribing the terms of sale of not to exceed $284,250,000 of said General Obligation Bonds, Election of 2016, Series C, by a negotiated sale; approving the form of a Bond Purchase Agreement; approving the forms of one or more paying Agent Agreements; and authorizing the execution of necessary documents and certificates relating to such bonds, as defined herein.
How it got here
The legislation originated from a bond measure approved by voters in 2016, allowing the San Francisco Unified School District to issue general obligation bonds for school improvements.
Voters approved Proposition A, allowing the issuance of $744,250,000 in general obligation bonds for school improvements, with over 55% in favor.
The Board adopted Resolution No. 350-20, allowing the issuance of the Series B Bonds amounting to $280,000,000 for authorized school purposes.
The Board of Education adopted a resolution authorizing the issuance of Series C Bonds, not to exceed $284,250,000, to fund additional school projects.
The Budget and Finance Committee reviewed and recommended the resolution for the issuance of Series C Bonds, amending it as necessary.
The Board of Supervisors adopted the resolution authorizing the issuance and sale of the Series C Bonds.
The Mayor approved the resolution authorizing the issuance and sale of the Series C Bonds.
Reconstructed from attached documents & the official record
