File #: 10-2242    Version: Name: Lease Lease Back Agreements - Chabot Space and Science Center Facility - District and Chabot Space and Science Center JPA
Type: Resolution Status: Passed
File created: 9/13/2010 In control: Finance and Human Resources Committee
On agenda: Final action: 9/22/2010
Enactment date: 9/22/2010 Enactment #: 10-1733
Title: Approval by the Board of Education of Resolution No. 1011-0034 - Approving Chabot JPA Lease Lease Back Agreements between District and Chabot Space and Science Center Joint Powers Authority (CSSCJPA), pursuant to terms and conditions stated therein, wherein District as holder of the Chabot Space and Science Center Facilities as collateral for outstanding balance including transaction costs (currently $8,327,680.60 of $10,265,00) on District loan made to CSSCJPA July 1, 1999, hereby leases said Facilities back to CSSCJPA, for the term commencing retroactively October 1, 2009 through September 30, 2049 (40 years), in exchange for payments to District as enumerated in said Lease Agreement or lesser time if outstanding District loan balance is paid in full by CSSCJPA or the loan agreement otherwise terminates pursuant to the terms and conditions of the lease lease back documents, whichever occurs first.
Attachments: 1. 10-2242 - LEASE LEASE BACK AGREEMENTS - CHABOT SPACE AND SCIENCE CENTER FACILITY - DISTRICT AND CHABOT SPACE AND SCIENCE CENTER JPA, 2. 10-2242 - LEASE LEASEBACK TRANSACTION - CHABOT SPACE AND SCIENCE CENTER, 3. 10-2242 - Lease Lease Back Agreements - Chabot Space and Science Center Facility - District and Chabot Space and Science Center JPA.pdf
Contact: Jacqueline.Minor@ousd.k12.ca.us
Title
Approval by the Board of Education of Resolution No. 1011-0034 - Approving Chabot JPA Lease Lease Back Agreements between District and Chabot Space and Science Center Joint Powers Authority (CSSCJPA), pursuant to terms and conditions stated therein, wherein District as holder of the Chabot Space and Science Center Facilities as collateral for outstanding balance including  transaction costs (currently $8,327,680.60 of $10,265,00) on District loan made to CSSCJPA July 1, 1999, hereby leases said Facilities back to CSSCJPA, for the term commencing retroactively October 1, 2009 through September 30, 2049 (40 years), in exchange for payments to District as enumerated in said Lease Agreement or lesser time if outstanding District loan balance is paid in full by CSSCJPA or the loan agreement otherwise terminates pursuant to the terms and conditions of the lease lease back documents, whichever occurs first.
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