Business Services Action Item

DATE:	Tuesday, October 4, 2016
TO:	School Board Members
FROM:	Jeff Eakins, Superintendent
SUBJECT / RECOMMENDATIONS
Approve Reimbursement Resolution Allowing for Heating, Ventilation, and Air Conditioning (HVAC) Repairs made in Advance of Permanent Financing to be Reimbursed from that Financing (Business Services)
EXECUTIVE SUMMARY
This resolution will allow for the future reimbursement of expenditures made to address HVAC improvements/replacements within the District. This will allow the District to begin addressing its HVAC needs immediately using existing capital funds which may be recouped later through the issuance of debt or receipt of other legally available revenues. A reimbursement resolution does not obligate the District to borrow any money, but is required in order for the District to be reimbursed for any expenditures made from a future tax-exempt debt issue. Such issues might include Certificates of Participation, Sales Tax Revenue Bonds, Revenue Anticipation Notes, Energy Savings Loans, Qualified Zone Academy Bonds, or others.
STRATEGIC OBJECTIVES
• Establish a strong foundation of financial stewardship
FINANCIAL IMPACT (Budgeted:  No)
Expenditures not-to-exceed $40 million.
EVALUATION
SUBMITTED BY:

Gretchen Saunders		Dr. Alberto Vázquez
Chief Business Officer (813) 272-4270		Chief of Staff (813) 272-4986
		C 6.18R
Hillsborough County Public Schools (Florida) * Mtg.#20161004_766 (Board Meeting) * Section C Item# 6.18R