Issuance of Certificates of Participation (COPs), Series 2007 Qualified Zone Academy Bonds (QZABs). Approve the QZAB resolution (Attachment A). Authorize the Superintendent to file an application with the FDOE to authorize the District to issue up to $5 million in QZAB non-interest bearing bonds. (Business Division)

The Florida Department of Education (FDOE) is allocating bonding capacity in the amount of $20,271,000 for QZABs to eligible school districts in the state. The proceeds are to be used to remodel/renovate a school(s) that resides in an enterprise community or have at least 35% of the students receiving free or reduced lunch under the National School Lunch Act. Chiaramonte, Lewis, Lopez and West Tampa Elementary schools have been identified for this program. The schools are scheduled for renovations, as shown in the District's 5-Year Plan. The four schools are to be funded with QZAB dollars in the amounts of $1,034.730.40, $1,983,120, $863,251.60 and $2,873,034 respectively. Ms. Velia Pedrero, Supervisor of Parent/Family and Community Involvement, has worked with the principals of these schools to secure the required private contribution match of 10%. The attached documents are required for participation (each school will be applied for separately): Attachment A: Resolution making the required assurances to the FDOE; Attachment B: Summary of private contributions (written verification secured); Attachment C: Description of proposed projects; and Attachment D: Description of programs.

To meet the requirement of law or rule.

Certificates of Participation in the amount of approximately $5 million will be issued and repaid from 2 Mill proceeds. The costs associated with issuing the Certificates will be included in the issue amount.