If the board of trustees adopts a resolution ordering a bond election on November 6, 2018, and the electorate passes that bond, applicable provisions of the California Education Code require, upon certain terms and conditions, the formation and appointment of a Citizens' Bond Oversight Committee (“CBOC”) relative to general obligation bonds approved pursuant to the provisions and requirements of Proposition 39.
The district formed a CBOC to review the expenditure of Proposition O proceeds, which CBOC will continue to operate even upon passage of a new bond measure until all Proposition O proceeds have been spent.
Staff is recommending that the board find it is in the best interests of the district and its community to consolidate oversight of the expenditure of bond proceeds from Proposition O and the 2018 Election proceeds, should the 2018 Election be successful, into the existing CBOC and to amend all governing documents accordingly.
This board item would further establish that the policies and regulations that govern and apply to the CBOC shall also govern and apply, upon a successful 2018 Election, to the CBOC in its oversight of the expenditure of 2018 Election proceeds. The CBOC would operate on its same rules, with its same members and same applicable terms.
Further, it would codify the board’s intent, in accordance with its existing processes and procedures, to ensure a screening process for new CBOC applicants, who would make recommendations for appointments to the board for their consideration.
For questions regarding this board item, please contact Moisés Aguirre at 619-585-6060 or email@example.com.