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County Counsel recommending the Board adopt and authorize the Chair to sign Resolution 086-2026 authorizing the Lake Tahoe Community College District to issue and sell, on its own behalf, general obligation bonds in an amount up to $7,000,000, which were authorized by the voters of the District on November 4, 2014.
FUNDING: Lake Tahoe Community College District to issue bonds.
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DISCUSSION / BACKGROUND
On November 4, 2014 the voters in the Lake Tahoe Community College District approved the issuance of up to $55,000,000 in general obligation bonds for purposes set out in Measure F, described as follows: “To upgrade college facilities that prepare local students for jobs and university transfer by modernizing academic and job-training classrooms, science labs, and facilities, expanding access to university courses, creating a Public Safety Training Center, modernizing technology, improving safety and energy efficiency, and improving facilities, sites and equipment.” Pursuant to that authorization, on April 21, 2026, the District’s Board of Trustees adopted Resolution 24-2025/2026 authorizing the issuance of bonds in the aggregate principal amount of $7,000,000. Additionally, that resolution served to formally request that the County Board of Supervisors consent to the District selling the bonds on its own behalf.
Historically, California community college district and school district bonds were issued by the county in which the districts were located. However, the California Education Code section 15140(b) now provides an alternative under which the Board of Supervisors can authorize such districts to issue and sell bonds in their own name if the district has not received a qualified or negative certification in its most recent interim report. The District represents that it has not received a qualified or negative certification in its most recent interim report. As such, the District requests that the Board authorize the District to sell the subject ...
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