TO: Board of Supervisors
FROM: Ryan J. Alsop, Chief Executive Officer
REPORT BY: Thomas C. Zeleny, Chief Deputy County Counsel
SUBJECT: Calistoga Joint Unified School District General Obligation Bonds, Election 2022, Series 2026
RECOMMENDATION
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Adopt a Resolution authorizing the Calistoga Joint Unified School District to issue Series 2026 Bonds of the District without further approval of the Board of Supervisors or Officers of Napa County. (No Fiscal Impact; Discretionary)
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BACKGROUND
The Board of Trustees (the "District Board") of the Calistoga Joint Unified School District (the "District") conducted a successful bond election on November 8, 2022. That election authorized the issuance of up to $41 million of General Obligation Bonds to improve educational facilities, construct career technical education classrooms and facilities, upgrade classroom technology, and improve technology infrastructure. Monies generated by the sale of these bonds may only be spent for these specified purposes.
On April 13, 2026, the District Board adopted Resolution 25-26-9 (the "District Resolution") providing for the issuance and private sale by the District an aggregate principal amount not exceeding $9 million of "Calistoga Joint Unified School District (Napa and Sonoma Counties, California) General Obligation Bonds, Election of 2022, Series 2026" (the "Bonds") pursuant to the provisions of section 15140 and 15146 of the Education Code and section 53508.7 of the Government Code. These provisions allow a negotiated private sale and the term of bonds that are issued and sold can be up to 40 years in duration (see Government Code section 53508(f)) rather than 25 years (see Education Code section 15144) thus providing the District with greater flexibility in managing its finances. The District Board previously authorized the issuance and sale of Election of 2022, Series 2023 Bonds in the amount of $14 million and Series 2025 Bonds in the amount of $14.5 million. The iss...
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