Preparing for Successful Bond Elections – Twin Rivers Unified Case Study Kim Barnett Executive Director, General Services Twin Rivers Unified School District

Today’s Agenda Preparing for a Successful Bond

Consultants Financial Advisor Bond Underwriter Bond Counsel Enrollment Projection Specialist Facilities Master Plan Consultant/Architect Facilities Funding Consultant Political Strategist (prior to calling for Election) Voter Opinion/Polling Strategist Architect and Engineers Construction/Project Managers A successful Bond Election requires the services of many experts:

Some Key Steps for Bond Success We established a timeline for our RFP implementation for each needed consultant

The Steps We Have Taken Created an Financial Team Financial Advisor

Some of the Services our Financial Advisor’s Provide Helped with Structuring our District FinancingsWorked with our District to improve our Credit RatingsEnsured that we achieved Fair Market interest ratesEnsured that were received competitive financing fees Worked on both our Short Term and Long Term Financing Plans

The Steps We Have Taken Bond Underwriter Bond Counsel

Some of the Services we receive from our Bond Underwriter They are a Integral Member of the District Financing TeamAnalyzed tax base, interest rates, and financing issues Provided input on bond election process and credit rating presentation, worked on our Pre-Marketing, Marketing and Sale of Bonds Purchased our Bonds and sold them to investors at a lowest interest rate Set the rates for financings and they assumed the risks for our unsold bonds Provided Bond Market context relative to supply and demand, economic conditions and interest rates

Some of the Services we receive from our Bond Counsel They are an Integral Member of the District Financing Team Serve as outside counsel, providing us with an opinion on the tax-exempt status and validity of the bond issuance Their opinion determines whether we are in compliance with federal tax laws Their opinion assures that the bonds are legal, valid and binding obligations

The Steps We Have Taken Enrollment Projections

Some Services our Enrollment Projection Specialist Provided Our grade level configuration(s) and enrollment capacity was determined Student enrollment projections completed (10 year)Our existing school facility needs were identified New facility needs were determined to accommodate projected student enrollment Determined our Districts support facility needs

The Steps We Have Taken Facilities Master Plan A comprehensive plan District/Citizens’ Facilities Master Plan Taskforce Held 6 Summits and inform them every step of the way

Facilities Master Plan Consultant/Architect

Our Facilities Master Plan Will be used to establish the need for fundingWill be used to establish cost of projectsIs being used to identify the priorities of projects to be fundedUsed to communicate with stakeholders Used to establish standards for future projects with other Architects and Engineers Used to Identify educational standards for new and existing schools

Facilities Master Plan

Our Facilities Master Plan included Financial Planning Developer Fees – Level 1 and Level 2Modernization FundingNew Construction FundingFinancial Hardship FundingQZABS, CREBS, Prop 39, Etc.Supplemental Funding Sources

The Steps We Have Taken Political Strategist Voter Opinion/Polling Consultant

Our Political Strategist Will assist with developing Voter Opinion Survey questions. Will assist in developing Bond Resolution and Bond Measure Ballot Language (The 75 words) Develop a factual information/communication to be distributed prior to the measure being placed on the ballot. They will transition to campaign consultants after the election is called

Our Polling Strategist Will assist in drafting questions related to proposed projects, tax rates, total election amount. They will conduct our voter opinion survey Will assist in analyzing potential success of an Election and possible Bond projects Will assist in providing information to the Board to make a decision on putting measure on the ballot

Our Next Steps Architect/Engineers and Construction/Project Managers Thru an RFP process

Our Architect and Engineers Will update estimates from master plan for the priority projects Start developing plans and specifications for non DSA projects—if bond passes projects can be underway immediately. Work with campaign committee to answer questions regarding project cost Consider having work done with understanding fees to be paid only if bond measure passes

Our Construction/Project Managers Will work with district staff and architect to develop plan for implementation of projects if bond measure passes Assist in determining project priorities and in updating construction costs Provide value engineering input throughout the entire development of plans and specs—before, not after submittal to DSA Work with district staff and financial advisor in development of cash flow based on bond issuance schedule

1 st Financial Team (FA, Underwriter, Counsel) 2 nd Enrollment Projection Specialist 3 rd Facilities Master Plan Consultant/Architect and Facilities Funding Consultant 4 th Political Strategist and Polling Strategist 5 th Architect/Engineers and Construction/Project Managers Bond Program Success / Key Components

6 th Trustees pass Resolution to put Bond Election on the Ballot 7 th Establish an Election Committee 8 th Campaign on your own time 9 th Campaign on your own time 10 th Election Day Bond Program Success / Key Components

Questions?