Soledad Unified Schools: Vote Yes on Measure G Bonds - Monterey County - 2018 primary Election
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  Welcome    Question    Rebuttal in Favor    Argument Against    Full Text    Tax Rate    Agenda    Resolution  

Welcome to the Yes No on Measure G Campaign

Are you sure you want vote to support this extravagant measure? It has no accountability.

This campaign was designed by Dale Scott & Co Inc. We figured out just the right words to get you to you to open up your checkbook.

We'd also like to introduce you to our partners -- bond lawyers, brokers, wealthy investors, architects, management firms, construction companies, and trade unions. We all stand to make a ton of money on these bonds. Our profits come right off the top, before a penny is actually spent on improving the facilities.

We're not just doing it for the money. We like to show off our work in Architectural Digest and other places where the rich and famous congregate.

Remember, we've taken a lot of risk. We gave money to get your governing board members elected, so they'd be sure to remember us when we came around for a hand-out later.

It's just business-as-usual, here in sunny Corruptifornia.

Please don't read the fine print. That's just put in by the lawyers to make what we're going to do to for you legal.

When you see highlighting in the documents below, it to see the commentary.

  Welcome    Question    Rebuttal in Favor    Argument Against    Full Text    Tax Rate    Agenda    Resolution  

Measure G Question

Exhibit A-1

EXHIBIT A

SUMMARY OF BALLOT MEASURE

To renovate classrooms and schools including , replacement of outdated plumbing and completion of Main Street Middle School improvements, shall Soledad Unified School District issue $25.21 million in general obligation bonds at legal rates, raising between $1.0 to $2.5 million annually for 27 years to repay bonds from tax levies estimated at of assessed valuation, with , annual audits, and ?

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Rebuttal to Argument in Favor of Measure G

Just tired, old cliches written by big city lawyers and advisors!

Back in March, did you know Soledad Unified had ordered an election for a huge, new, $45,163,067 tax on your home? Do you feel compelled to reward reckless spending and poor management? If not for us, you wouldn't get the whole story.


NO ADMINISTRATOR SALARIES?

Constitution says no salaries. Statutes say no salaries. Resolution, question, measure, and argument say no salaries. Guess what lawyers snuck in! Hint: "bond project staff." Salaries will be paid. You can take that to the bank.


FACTS

District borrowed $12,500,000 in 2017 without your consent. Plans to pay it off, illegally, with bonds. How's that for deception?

How did District get to $25,210,000? It's maximum it can tax in one measure.

Measure G is a contract. Have you read the fine print? Besides District salaries, what else does it pay for? -- "staff training," "COPs," "leases," and on and on.

Are your schools REALLY falling apart? Have you ever read School Accountability Report Cards? (sarconline.org) Two school facilities are rated "exemplary," six "good." Not a "leaky roof" in the lot. Who's being deceptive and dishonest here?

District's spent $52,500,000 since 2013. Why pay for Measure C promises again? Have you ever seen oversight reports?


BOTTOM LINE

Can you trust District? Seen enough yet? When you're not looking, will District breach law, its promises, and its trust?

Would you really agree to written contract where promises weren't explicitly, unambiguously written into it?

You're being deceived! Don't sign blank check. Vote NO! http://bit.ly/NoSoledadBond

  Welcome    Question    Rebuttal in Favor    Argument Against    Full Text    Tax Rate    Agenda    Resolution  

Argument Against Measure G

Are you parents? Do you hold your children accountable?

Supporting schools is good. Supporting wasting your money on vague, unenforceable promises is bad.

Don't be deceived by District's campaign, funded by businesses that will likely benefit from bond money. (Isn't that called pay-to-play?) Beware of high-priced marketers masquerading as "parents, teachers, and community leaders."


Why Vote No on Measure G?

- It's virtually, word-for-word, identical to every other bond measure written by lawyers and advisors who made $1,916,499 (payable by you, with interest) from facilities bonds issued since 2013.

- Did you hear about a list of projects? Why isn't there a list of SPECIFIC projects in Measure G? Because it would restrict the District to spend the money ONLY on those things?

- Can you trust District? Why did it violate oversight laws over many years for Measure C (2012) ($40,000,000)?

- Were you surveyed? Did you get a campaign mailer from District? YOU PAID for it all. Is that fair? Using your money for campaign purposes?

- Did you know that District issued $52,500,000 in facilities bonds since 2013? $58,265,000 since 2005? Where has all that money gone?


Proposition 39 permits a bare majority of voters (55%) to approve these bonds. "To ensure that BEFORE they vote, voters will be given a list of specific projects their bond money will be used for," it requires that Measure G be a "list of the specific school facilities projects to be funded." (Source: Proposition 39 ballot measure.)

Measure G's intentionally vague language gives District a BLANK CHECK with NO ACCOUNTABILITY.

Don't vote to waste your taxes on vague promises. Did District keep its promises from Measure C? It spent $52,500,000 and still has leaky roofs?

Bond money is like drugs. Don't give District another fix. Just say no!

Want more evidence of District's deception? http://bit.ly/NoSoledadBond

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Full Text of Measure G

Exhibit B-1

EXHIBIT B

SOLEDAD UNIFIED SCHOOL DISTRICT BOND PROPOSITION
FULL BALLOT TEXT

By approval of this measure by at least fifty-five percent (55%) of the registered voters voting thereon, the Soledad Unified School District shall be authorized to issue and sell bonds of up to $25.21 million dollars in aggregate principal amount to provide financing for the specific school facilities projects listed below in the Bond Project List, subject to all of the accountability safeguards specified herein.

KEY FINDINGS

The Soledad Unified School District is committed to continuing a strong, high-quality educational program for its students.

Through this process, the Soledad Unified School District Board of Education determined that the District's facilities require repairs and upgrades, including updates to facilities to meet current health, safety, fire, and earthquake standards. Specifically, the Board of Education desires to include:

  • Renovation of facilities, including but not limited to roofing, and painting Districtwide;
  • Utility Improvements, including but not limited to replacing sewer and water lines, as well as upgrading electrical service;
  • Completion of Main Street Middle School improvements, including Building "C" and prepayment of COPs or leases related to the construction of Building "C";
  • Security and safety systems;
  • Improved student facilities, including but not limited to playgrounds and for athletics
  • Site improvements, including but not limited to landscape/irrigation, concrete bleachers/shade structures, wall renovations and hardscapes (asphalt/parking/concrete repairs);
  • Replace portable classrooms with permanent classrooms; and
  • Technology improvements, including but not limited to renovating and installing District-wide cabling systems to improve data transfer.

ACCOUNTABILITY MEASURES

The provisions in this section are included in this proposition in order that the voters and taxpayers of the District may be assured that their money will be spent to address specific facilities needs of the District, all in compliance with the requirements of Article XIII A, section 1(b)(3) of the State Constitution, and the Strict Accountability in Local School Construction Bonds Act of 2000 (codified at Section 15264 et seq. of the California Education Code).

Evaluation of Needs. The Board of Education has evaluated the facilities needs of the District, and has identified projects to finance from a local bond measure at this time. The Board of Education hereby certifies that it has evaluated safety, class size reduction and information technology needs in developing the Bond Project List.

Independent Citizens' Oversight Committee. The Board of Education shall establish an independent Citizens' Oversight Committee in accordance with Education Code sections 15278-15282 and applicable Board policy, to ensure bond proceeds are expended 360 Exhibit B-2 only for the school facilities projects listed in the Bond Project List. The committee shall be established within sixty (60) days of the date when the Board of Education enters the results of the election in its official minutes.

Annual Performance Audit. The Board of Education shall conduct or cause to be conducted an annual, independent performance audit to ensure that the bond proceeds have been expended only on the school facilities projects described in the Bond Project List.

Annual Financial Audit. The Board of Education shall conduct or cause to be conducted an annual, independent financial audit of the bond proceeds until all of those proceeds have been spent for the school facilities projects described in the Bond Project List.

Annual Report to Board. Upon approval of this measure and the sale of any bonds approved, the Board of Education shall take actions necessary to establish an account in which proceeds of the sale of bonds will be deposited. As long as any proceeds of the bonds remain unexpended, the Superintendent shall cause a report to be filed with the Board of Education no later than January 1 of each year, commencing on the first January 1 after bonds have been issued and proceeds spent, stating (1) the amount of bond proceeds received and expended in the past fiscal year, and (2) the status of any project funded or to be funded from bond proceeds. The report may be incorporated into the annual budget, annual financial report, or other appropriate routine report to the Board.

BOND PROJECT LIST

This Bond Project List, which is an integral part of this proposition, describes the the District proposes to finance with proceeds of the bonds.

Proceeds from the sale of bonds authorized by this measure shall be used only for the construction, reconstruction, rehabilitation, or replacement of school facilities on the Bond Project List, including the furnishing and equipping of said school facilities, or the acquisition or lease of real property for said school facilities, and not for any other purpose, including teacher and administrator salaries and other school operating expenses.

In order to meet all identified facility needs, the District intends to complete projects using a combination of funding sources. These sources may include funds, development impact fees, state funds (if available), and other available funds. The District will pursue state matching funds if and when they become available, and if received, they will be used for and mainly applied to projects on the Bond Project List or other high priority capital outlay expenditures as permitted in Education Code section 17070.63(c). No project is dependent on the receipt of state funding for completion.

Projects listed below may be completed at any and all facilities , and projects are authorized to be performed at each and all of the District's facilities, including without limitation:

I. SCHOOL UPGRADES AND REPAIRS TO KEEP EDUCATIONAL FACILITIES SAFE, CLEAN AND IN GOOD REPAIR

  • Fix and/or replace deteriorating roofs;
  • Renovate walls
  • 361

    Exhibit B-3

  • Remove aging and unsafe portable buildings;
  • Replace old, outdated, and inefficient sewer, water, electrical, plumbing, heating and ventilation systems;
  • Improve school fire and earthquake safety;
  • Repair and replace aging student restrooms and plumbing systems;
  • Ensure safe access and security at all schools for all students, staff, and community members;
  • Provide District-wide security cameras; and
  • Upgrade and renovate emergency communications and technology backup systems, security systems, fire alarm systems and fencing.

II. PROJECTS TO ENSURE STUDENTS HAVE ACCESS TO SAME QUALITY OF CLASSROOMS, EDUCATION, AND SERVICES AS IN NEIGHBORING COMMUNITIES

  • Complete Main Street Middle School improvements, including Building "C" and related to the construction of Building "C";
  • Upgrade or construct additional facilities for health services, student services and physical education/athletics, such as renovating playgrounds and athletic fields and stadium track;
  • Acquisition of land and construction of facilities to support school farm program; and
  • Construct flexible classrooms and labs for science, technology, engineering and math programs.

III. EDUCATIONAL TECHNOLOGY AND FACILITY UPGRADES FOR 21ST CENTURY LEARNING

  • Provide up-to-date classroom technology infrastructure; and
  • Renovate and install District-wide cabling systems to improve data transfer.

Listed projects, repairs, improvements, rehabilitation projects and upgrades will be completed only as feasible, and the listing of projects does not imply a particular prioritization among such improvements. Listed projects may be completed at any and all 362 Exhibit B-4 education buildings where such project is determined necessary. Decisions regarding the scope, timing, prioritization or other facets of project implementation will be made solely by the Board of Education by subsequent action.

For any listed project involving renovation or modernization of a building or the major portion of a building, the District may proceed with new replacement construction instead (including any necessary demolition), if the District determines that replacement and new construction is more practical than renovation, considering the building's age, condition, expected remaining life, comparative cost, and other relevant factors. In addition, where feasible, projects may be completed in partnership with other agencies on a joint use basis.

is assumed to include its share of costs of bond issuance, architectural, engineering, and similar planning costs, construction management, , associated with new bond-funded equipment and systems, and a customary contingency for unforeseen design and construction costs. In addition to the projects listed above, the Bond Project List also includes , payment of the costs of preparation of all facilities planning and project implementation studies, feasibility and assessment reviews, , environmental studies, and temporary housing for dislocated programs or activities caused or necessitated by construction projects.

The final cost of each project will be determined as plans are finalized and projects are completed. Based on the final costs of each project, certain of the projects described above may be delayed or may not be completed. Necessary site preparation/grading/restoration may occur in connection with new construction, modernization, renovation or remodeling, including ingress and egress, removing, replacing or installing irrigation, utility lines, trees and landscaping, relocating fire access roads, and acquiring any necessary easements, leases, licenses, or rights of way to the property.

ADDITIONAL SPECIFICATIONS

No Administrator Salaries. Proceeds from the sale of Bonds authorized by this proposition shall be used only for the construction, reconstruction, rehabilitation, or replacement of school facilities on the Bond Project List, including the furnishing and equipping of said school facilities, or the acquisition or lease of real property for said school facilities, and not for any other purpose, including teacher and administrator salaries and other school operating expenses.

Single Purpose. All of the purposes enumerated in this proposition shall be united and voted upon as one single proposition, pursuant to Section 15100 of the California Education Code, and all the enumerated purposes shall constitute the specific single purpose of the bonds and proceeds of the bonds shall be spent only for such purpose.

Other Terms of the Bonds. The bonds may be issued and sold in several series, and in accordance with a financing plan determined by the Board of Education pursuant to requirements of law. When sold, the bonds shall bear interest at an annual rate not exceeding the statutory maximum and with a maximum term not exceeding the statutory maximum, provided that the average useful life of bonds sold will not exceed one hundred twenty percent (120%) of the average life of the projects being financed or as otherwise provided by federal tax law. Bond funds may be used to reimburse the District for Bond Project list expenditures incurred prior to the election and bond issuance, in accordance with federal tax law.

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Measure G Tax Rate Statement

Exhibit C-1

EXHIBIT C

TAX RATE STATEMENT

An election will be held within the boundaries of Soledad Unified School District ("School District") on June 5, 2018, to authorize the sale of up to $25,210,000 in bonds to finance facilities as described in the proposition. If the bonds are approved, the School District expects to sell the bonds in multiple series. Principal and interest on the bonds will be payable from the proceeds of tax levies made upon the taxable property located within the School District. The following information is provided in compliance with Sections 9400-9404 of the California Elections Code.

  1. 1. The best estimate of the average annual tax rate which would be required to be levied to fund this bond issue over the entire duration of the bond debt service, based on estimated assessed valuations available at the time of filing of this statement, is 5.778 cents per $100 ($57.78 per $100,000) of assessed valuation.
  2. 2. The best estimate of the highest tax rate which would be required to be levied to fund this bond issue, based on estimated assessed valuations available at the time of filing of this statement, is 6 cents per $100 ($60.00 per $100,000) of assessed valuation in fiscal year 2017-2018.
  3. 3. The best estimate of total debt service, including principal and interest, which would be required to be repaid if all the bonds are issued and sold is $45,163,067.

Voters should note that the estimated tax rate is based on the assessed value of taxable property on the County of Monterey official tax rolls, not on the property's market value. Property owners should consult their own property tax bills to determine their property's assessed value and any applicable tax exemptions.

Attention of all voters is directed to the fact that the foregoing information is based upon the School District's projections and estimates only, which are not binding upon the School District. The actual tax rates, debt service and the years in which they will apply may vary from those presently estimated, due to variations from these estimates in the timing of bond sales, the amount of bonds sold and market interest rates at the time of each sale, and actual assessed valuations over the term of repayment of the bonds. The dates of sale and the amount of bonds sold at any given time will be determined by the School District based on need for construction funds and other factors. The actual interest rates at which the bonds will be sold will depend on the bond market at the time of each sale. Actual future assessed valuation will depend upon the amount and value of taxable property within the School District as determined by the County Assessor in the annual assessment and the equalization process.

Signed: ________________________
Timothy J. Vanoli, Superintendent

Dated: January __, 2018

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Measure G Agenda Description

REGULAR MEETING OF THE
GOVERNING BOARD OF THE
SOLEDAD UNIFIED SCHOOL DISTRICT
DISTRICT OFFICE BOARD ROOM
1261 METZ ROAD, SOLEDAD, CA 93960
WEDNESDAY, JANUARY 10, 2018

V. CONSENT CALENDAR
C. Business Items
3. Approval of an Agreement for Professional Services with Dannis Woliver
Kelley, "DWK" for professional services associated with considering and
calling a bond election in 2018 and the issuance and sale of general
obligations bonds thereafter  (Pages 305-309) #page=314 to 318

VI. RESOLUTIONS
D. No. 1-04-18  Ordering a School Bond Election on June 5, 2018 and authorizing
necessary actions in connection therewith  (Pages 355-364)	#page=364 to 373
MOTION TO ADOPT 1-04-18 BY:________________SECONDED:_____________
AYES:_______________________NAYS:____________ABSENT:________________


REGULAR MEETING OF THE
GOVERNING BOARD OF THE
SOLEDAD UNIFIED SCHOOL DISTRICT
DISTRICT OFFICE BOARD ROOM
1261 METZ ROAD, SOLEDAD, CA 93960
WEDNESDAY, JANUARY 10, 2018

VI. RESOLUTIONS
D. No. 1-04-18  Ordering a School Bond Election on June 5, 2018 and authorizing necessary actions in connection therewith
MOTION TO ADOPT 1-04-18 BY: Jaime Fernandez SECONDED: Jodi Massa AYES: Mr. Fernandez, Mr. Galvan, Mrs. Massa, Mrs. Pantoja, Mrs. Perez-Aguilera NAYS: None ABSENT: None


AGENDA
REGULAR MEETING OF THE
GOVERNING BOARD OF THE
SOLEDAD UNIFIED SCHOOL DISTRICT
DISTRICT OFFICE BOARD ROOM
1261 METZ ROAD, SOLEDAD, CA 93960
THURSDAY, FEBRUARY 15, 2018

VI. RESOLUTIONS
A. Amended No. 01-04-18 - Ordering a School Bond Election on June 5, 2018 and
authorizing necessary actions in connection therewith  (Pages 422-443)
MOTION TO AMEND RESOLUTION NO. 1-04-18 BY:___________
SECONDED:______ AYES:_________NAYS:____________ABSENT:___________

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Measure G Resolution

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RESOLUTION No. 1-04-18

RESOLUTION OF THE BOARD OF EDUCATION OF THE SOLEDAD UNIFIED SCHOOL
DISTRICT ORDERING A SCHOOL BOND ELECTION
ON JUNE 5, 2018, AND
AUTHORIZING NECESSARY ACTIONS IN CONNECTION THEREWITH

WHEREAS, the Board of Education ("Board") of the Soledad Unified School District ("District"), within the County of Monterey, California is authorized to order elections within the District and to designate the specifications thereof, pursuant to Sections 5304 and 5322 of the California Education Code ("Education Code");

WHEREAS, the District must repair, construct, acquire or equip classrooms, and facilities to make them safe and help ensure that all students have equal access to 21st century classrooms, labs and school facilities;

WHEREAS, because the State is not funding school facilities improvements and passing this bond measure provides a guaranteed source of local funding to maintain and improve this community's local school facilities;

WHEREAS, every penny from this bond measure will benefit local schools and no funds can be taken away by the State or other school districts, and by law, no money can be used for administrator salaries or pensions;

WHEREAS, the Board is specifically authorized to order elections for the purpose of submitting to the electors the question of whether bonds of the District shall be issued and sold for the purpose of raising money for the purposes hereinafter specified, pursuant to Section 15100 et seq. of the Education Code;

WHEREAS, pursuant to section 18 of Article XVI and section 1 of Article XIII A of the California Constitution (also known as "Proposition 39"), and Section 15266 of the Education Code, school districts may seek approval of general obligation bonds and levy an ad valorem tax to repay those bonds upon a fifty-five percent (55%) vote of those voting on a proposition for that purpose, provided certain accountability measures are included in the proposition;

WHEREAS, the Board deems it necessary and advisable to submit such a bond proposition to the electors to be approved by fifty-five percent (55%) of the votes cast;

WHEREAS, such a bond election must be conducted concurrent with a statewide primary election, general election or special election, or at a regularly scheduled local election, as required by Section 15266 of the Education Code, and on June 5, 2018, a general election is scheduled to occur throughout the District;

WHEREAS, the District intends to undertake a "tax rate extension" such that the tax rate levied to meet the debt service requirements on bonds issued pursuant to the bond measure would not exceed approximately Sixty Dollars ($60.00) per year per one hundred thousand dollars ($100,000) of taxable property when assessed valuation is projected by the District to increase in accordance with Article XIIIA of the California Constitution; the current estimated and projected tax rate is described in the Tax Rate Statement contained in Exhibit C hereto;

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WHEREAS, Section 9400 et seq. of the California Elections Code requires that a tax rate statement be contained in all official materials, including any ballot pamphlet prepared, sponsored or distributed by the District, relating to the election;

WHEREAS, in the judgment of the Board, it is advisable to request that the Monterey County Registrar of Voters ("County Registrar") act as the election official and call an election and submit to the registered voters of the District the full ballot proposition as detailed below, in coordination with each other as necessary;

WHEREAS, it is the recommendation of District staff that the District retain bond counsel and a financial advisor to assist the District with the process of calling a bond election and, if the bond election is successful, with the subsequent structuring and documenting of a bond issuance for the purposes set forth herein; and

WHEREAS, the Board now desires to authorize the filing of a ballot argument in favor of the proposition to be submitted to the voters at the election.

NOW, THEREFORE, be it resolved, determined and ordered by the Board of Education of the Soledad Unified School District as follows:

Section 1. Specifications of Election Order. Pursuant to Sections 5304, 5322, 15100 et seq., and Section 15266 of the Education Code, an election shall be held within the District on June 5, 2018, for the purpose of submitting to the registered voters of the District the full ballot proposition contained in Exhibit B ("Full Ballot Text"), which Full Ballot Text is hereby approved. The County Registrar shall provide for the performance of its duties in accordance with Education Code section 5303.

Section 2. Abbreviation of Proposition. Pursuant to Section 13247 of the California Elections Code and Section 15122 of the Education Code, the Board hereby directs the County Registrar to use the abbreviation of the Full Ballot Text that is attached hereto as Exhibit A.

Section 3. Voter Pamphlet. The County Registrar is hereby requested to reprint the Full Ballot Text in its entirety in the voter information pamphlet to be distributed to voters pursuant to Section 13307 of the Elections Code. In the event the Full Ballot Text is not reprinted in the voter information pamphlet in its entirety, the County Registrar is hereby requested to print, immediately below the impartial analysis of the bond proposition, in no less than 10-point boldface type, a legend substantially as follows:

"The above statement is an impartial analysis of Measure ___. If you desire a copy of the measure, please call the Monterey County Registrar of Voters at ___________ and a copy will be mailed at no cost to you."

Section 4. Accountability Measures. Pursuant to legal requirements, and as specified in the Full Ballot Text, the Board certifies that the District:

  1. (a) Has evaluated the facilities needs of the District and has evaluated safety, class size reduction and information technology needs in developing the Bond Project List contained in the Full Ballot Text;
  2. (b) Will establish an independent Citizens' Bond Oversight Committee to ensure that bond proceeds are expended only for the school facilities

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    projects described in the Bond Project List, in accordance with Education Code section 15278 et seq.;
  3. (c) Will conduct or cause to be conducted an annual, independent performance audit to ensure that the bond proceeds have been expended only on the school facilities projects described in the Bond Project List;
  4. (d) Will conduct or cause to be conducted an annual independent financial audit of the bond proceeds until all of those proceeds have been spent for the school facilities projects described in the Bond Project List; and
  5. (e) Shall take all actions to establish an account in which proceeds of the sale of the bonds will be deposited, and to cause a report to be filed with the Board no later than each January 1 identifying proceeds received and expended in the past fiscal year and the status of any project funded or to be funded with bond proceeds. The first report shall be due no later than January 1 of the first year after which bonds have been issued and proceeds spent.

Section 5. Required Vote. Pursuant to Section 18 of Article XVI and Section 1 of Article XIII A of the State Constitution, the above proposition shall become effective upon the affirmative vote of at least fifty-five percent (55%) of those voters voting on the proposition.

Section 6. Request to County Officers to Conduct Election/Cost of Election. The County Registrar is hereby requested, pursuant to section 5322 of the California Education Code, to take all steps to call and hold the election in accordance with law and these specifications. The District will reimburse the Registrar and the County for costs associated with the election as required by law.

Section 7. Consolidation of Election and Canvass of Vote.

  1. (a) Pursuant to Section 15266(a) of the Education Code, the election shall be consolidated with the election on June 5, 2018.
  2. (b) The Board of Supervisors of Monterey County is authorized and requested to canvass the returns of the election, as necessary, pursuant to Section 10411 of the California Elections Code.

Section 8. Delivery of Order of Election to County Officers. The Clerk of the Board is hereby directed to deliver or cause to be delivered, no later than February 2, 2018, one copy of this Resolution to the County Registrar with the completed Tax Rate Statement (in substantially the form attached hereto as Exhibit C), completed and signed by the Superintendent or his designee, and shall file a copy of this Resolution with the Clerk of the Board of Supervisors of Monterey County.

Section 9. Ballot Arguments. The members of the Board are hereby authorized to prepare and file with the County Registrar a ballot argument in favor of the proposition contained in Section 1 hereof, within the time established by the County Registrar.

Section 10. Intention to Reimburse. The District may incur costs associated with bond-funded projects described in Exhibit B hereto prior to the issuance of bonds. For 357 DWK DMS 3207331v6
4
purposes of establishing compliance with the requirements of Section 1.150-2 of the regulations of the U.S. Treasury Department, the Board hereby declares its official intent to use proceeds of the bond to reimburse itself for lawful expenditures on bond capital projects, up to a maximum principal amount of $25,210,000.

Section 11. Appointment of Financial Advisor. The firm of Dale Scott & Company, is hereby retained as financial advisor with respect to the bonds. The Superintendent, the Chief Business Official, and their respective designees, and each of them individually, are hereby authorized to execute and deliver an agreement with such firm in the form of such agreement on file with the Secretary of the Board.

Section 12. Bond and Disclosure Counsel. The law firm of Dannis Woliver Kelley is hereby retained to provide pre-election services and, following passage of the bond measure, as bond and disclosure counsel to the District with respect to the bonds and related financings. The Superintendent, the Chief Business Official, and their respective designees, and each of them individually, are hereby authorized to execute and deliver an agreement with such firm in the form of such agreement on file with the Secretary of the Board.

Section 13. Further Authorization. The members of this Board, the Superintendent, and all other officers of the District are hereby authorized and directed, individually and collectively, to do any and all things that they deem necessary or advisable in order to effectuate the purposes of this Resolution, including modification of the Full Ballot Text, the ballot measure summary or Tax Rate Statement if he or she determines such modifications are necessary and in the District's best interests. Any such modifications shall be ratified thereafter by the Board.

Section 14. Effective Date. This Resolution shall take effect upon its adoption.

PASSED AND ADOPTED this day, January __, 2018, by the following vote:

AYES:

NAYS:

ABSTAIN:

ABSENT:

APPROVED:

President of the Board of Education of the
Soledad Unified School District

Attest:

Clerk of the Board of Education of the
Soledad Unified School District

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