Sarasota County Schools
Agenda Item #32
Title
APPROVAL OF RESOLUTION TO PARTICIPATE IN $1,150,000 STATE BOARD OF EDUCATION, CAPITAL OUTLAY BONDS, 2008 SERIES
Description
The School Board of Sarasota County is electing to participate in the State Board of Education Bond Issue. The $1,150,000, will be spent on a State approved construction project and the project will be Elementary School "I." This was included in the original Capital Budget approved on September 11, 2007.
Recommendation
That a Resolution of the School Board of Sarasota County, Florida, requesting the issuance by the State Board of Education of Florida of $1,150,000 Capital Outlay Bonds for and on behalf of such Board for the purpose hereinafter stated be approved as presented.
Contact
CORCORAN
WEIDNER
Financial Impact
The bond issue will be a twenty-year commitment and the payment for the bonded debt will result in a reduction of State Board of Education Capital Outlay and Debt Service revenue to the Capital Projects Fund during that time frame.
Attachment: cobibrps.pdf