Business Action Item |
DATE: Tuesday, February 23, 2010
TO: School Board Members
FROM: MaryEllen Elia, Superintendent
SUBJECT / RECOMMENDATIONS
EXECUTIVE SUMMARY
The District's Financial Advisor, Ford & Associates, has provided an analysis to the District showing a possible present value savings of approximately $1 million on the 2001A COPs in the current market conditions. The savings will be a reduction of the debt that must be repaid by the taxpayers and will provide an increase in our future bonding capacity.
The refunding will be dependent upon market conditions. This agenda item has been reviewed as to legal form and sufficiency by John Stokes, Bond Counsel. Mr. Stokes and Mr. Jerry Ford will be present to answer questions and assist the Board in this endeavor at this meeting. A copy of both the Certificate Resolution and Corporate Resolution are available for viewing in the School Board office.ANNUAL DISTRICT GOAL(S) AND CRITICAL SUCCESS FACTOR(S)
FINANCIAL IMPACT (Budgeted: No)
EVALUATION
SUBMITTED BY: Steve Brady, Assistant Department Manager for Cash Management
Susan Garcia
Manager Services and Support, Budget (813) 272-4064 |
Gretchen Saunders
Chief Business Officer (813) 272-4270 |
A 5.04 | |
Hillsborough County Public Schools (Florida) * Mtg.#20100223_394 * Section A Item# 5.04 |