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File #: 17-0603    Version: 1 Name: Board Policy - Business and Noninstructional Operations - BP 3470 - Debt Issuance and Management Policy - General Counsel (Second Reading)
Type: Board Policy Status: Passed
File created: 3/24/2017 In control: General Counsel
On agenda: 4/12/2017 Final action: 4/26/2017
Enactment date: 4/26/2017 Enactment #: 17-0468
Title: Approval by the Board of Education of Board Policy - Business and Noninstructional Operations - BP 3470 - Debt Issuance and Management Policy, reflecting new law (SB 1029, 2016) which mandates that Boards adopt a debt management policy prior to issuing any debt, including, but not limited to, General Obligation Bonds, Tax and Revenue Anticipation Notes, and Certificates of Participation. The Policy addresses the components mandated by law, including (1) the purposes for which the debt proceeds may be used; (2) the types of debt that may be issued; (3) the relationship of the debt to, and integration with, the District's capital improvement program or budget, if applicable; (4) policy goals related to the District's planning goals and objectives; and (5) internal control procedures to ensure that the proceeds of the proposed debt issuance will be directed to the intended use.
Attachments: 1. 17-0603 Board Policy - Business and Noninstructional Operations - BP 3470 - Debt Issuance and Management Policy - General Counsel (Second Reading)
Contact: marion.mcwilliams@ousd.org

Title
Approval by the Board of Education of Board Policy - Business and Noninstructional Operations - BP 3470 - Debt Issuance and Management Policy, reflecting new law (SB 1029, 2016) which mandates that Boards adopt a debt management policy prior to issuing any debt, including, but not limited to, General Obligation Bonds, Tax and Revenue Anticipation Notes, and Certificates of Participation. The Policy addresses the components mandated by law, including (1) the purposes for which the debt proceeds may be used; (2) the types of debt that may be issued; (3) the relationship of the debt to, and integration with, the District's capital improvement program or budget, if applicable; (4) policy goals related to the District's planning goals and objectives; and (5) internal control procedures to ensure that the proceeds of the proposed debt issuance will be directed to the intended use.