Approve the minutes of the following meeting(s), as presented:

October 18, 2016 - Special Meeting

Approve the minutes of the following meeting(s), as presented:

In order to provide funds to finance certain school facilities, the Authority issued $82,860,000 aggregate principal amount of Irvine Unified School District Financing Authority Special Tax Revenue Bonds (Group II), Series A (the “Prior Bonds”) pursuant to the Indenture, dated as of April 1, 2006, by and between the Authority and the Bank of New York Trust Company, N.A., as trustee.

The Authority has determined that it would be advantageous to refund the outstanding Prior Bonds.

In order to provide funds to refund the outstanding Prior Bonds, the Authority proposes to issue its Irvine Unified School District Financing Authority Special Tax Revenue Refunding Bonds, Series 2016 (the “Series 2016 Bonds”), in the aggregate principal amount of not to exceed $75,000,000.

Based on conservative estimates, the refinancing of the Prior Bonds is projected to produce savings of approximately $13.3 million over the life of the bonds.  By refunding the Prior Bonds through the Authority pursuant to the Marks-Roos Local Bond Pooling Act of 1985, the Authority is able to refund three prior local CFD obligations at the same time, thereby enhancing the refunding savings by achieving economies of scale.

Adam Bauer, Chief Executive Officer of Fieldman, Rolapp  & Associates will be at the meeting to provide a summary and answer any questions.  Documents (a) through (g) as referenced in the Resolution No. 16-17-23 are available upon request.


IUSD/Fogarty
Board Agenda
November 15, 2016

Attachment

1. the Indenture;
2. the Bond Purchase Agreements;
3. the Continuing Disclosure Agreement; and
4. the Preliminary Official Statement.

1. the Indenture;
2. the Bond Purchase Agreements;
3. the Continuing Disclosure Agreement; and
4. the Preliminary Official Statement.

FUTURE MEETINGS:
 
December 13, 2016

The District will make every attempt to accommodate any attendee or participant at this meeting who needs special assistance, when notice is given to the Superintendent's Office 949.936.5000 at least 48 hours prior to the meeting.

The board meeting agenda and support materials are accessible from the District's web site (www.iusd.org/board/) prior to the close of business on the Friday preceding the meeting. Any written materials distributed to the Board after the 72 hour posting period will also be made available for public review at the time of distribution. Copies may also be obtained at the District Administration Center or at the meeting.

* Opportunities for public input occur at the beginning of each agenda item.  Persons wishing to address the Board should complete a blue request form, available on the information table, and submit it to the Board Secretary.  Each topic or item is limited to 30 minutes; each speaker is limited to 3 minutes.