Mountain View Whisman School District
Agenda Item for Board Meeting of 11/2/2023
Agenda Category: CONSENT AGENDA
Agenda Item Title: Board Policy (BP) 3470 Debt Issuance and Management
Estimated Time:
Person Responsible: Rebecca Westover, Ed.D., Chief Business Officer
Background:
The policy recognizes that the District is committed to long-term capital and financial planning and recognizes that the issuance of debt is a key source for funding the improvement and maintenance of school facilities and managing cash flow. Any debt issued by the district shall be consistent with law and this policy. The district shall not enter into indebtedness or liability that in any year exceeds the income and revenue provided for such year, unless two-thirds of the voters approve the obligation or one of the exceptions specified in law applies. (California Constitution, Article 16, Section 18).
Fiscal Implication:
None.
Recommended Action:
It is recommended that the Board of Trustees approve Board Policy (BP) 3470 Debt Issuance and Management at first reading, as presented.
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