HCPS FL Logo Facilities
Action Item
DATE: Tuesday, May 17, 2011
TO: School Board Members
FROM: MaryEllen Elia, Superintendent
SUBJECT / RECOMMENDATIONS
Approve the 2011 Capital Outlay and Debt Service (CO&DS) Bond Resolution
EXECUTIVE SUMMARY

The District has been notified of a new State Board of Education Capital Outlay Bond issue.  Hillsborough County Public Schools' bond capacity for this issue is $745,000.  CO&DS dollars are derived from license plate revenues.  By law, the state is required to continuously bond this revenue.  Renovations at Chiaramonte Elementary School are recommended for use of these funds. 

Previous CO&DS funds allocated for renovations at Chairamonte Elementary are.  

Bond Resolution

Allocated Amount

2006

$265,569.44

2008

$785,407.69

2009

$336,978.14

2010

$3,235,000.00

2011

$745,000.00

Total all bond issues

$5,367,955.27

 

STRATEGIC OBJECTIVES
• Construct and maintain facilities that create an environment conducive to teaching and learning
FINANCIAL IMPACT (Budgeted:  Yes)
The 2011 bond sale will yield the District $745,000.  Including the 2011 issue, CO&DS funds allocated for Chiaramonte Elementary total $5,367,955.27. 
EVALUATION
SUBMITTED BY:  Jan Albritton, Asset Specialist
Lorraine Duffy Suarez   Cathy L. Valdes
General Manager, Growth Management & Planning
(813) 272-4685
  Chief Facilities Officer
(813) 272-4004
    A 6.07
Hillsborough County Public Schools (Florida) * Mtg.#20110517_459 (Board Meeting) * Section A Item# 6.07