1. Action Items: Measure P Refunding and New Issuance
Presentation to the Board of Trustees
Brett W. McFadden, Associate Superintendent / CBO
Tim Carty, Piper Jaffrey
October 18, 2016

2. Action items Recommended action for this evening:
Resolution to approve refunding (refinancing)
Refinance up to $40.2 million of Series A bonds from 2011
Achieves taxpayer savings due to lower interest payments
Straight forward financing – Current interest bonds
Same terms and financing schedule
All savings passed on to taxpayers
Resolution to approve new issuance
$33 million – becomes Series C bonds
Estimated at $39/100k AV
Faster payoff with taxpayer savings

3. Community engagement Community engagement effort completed:
Five town hall meetings
Opinion editorial by Superintendent
Misc. community meetings
Presentations to city councils and community organizations
Misc. print and media coverage

4. Board meetings Presentations to the board:
Aug 26 – special study session
September 13 – finance options laid out
September 27 – general update
October 4 – general update, notice of possible action on Oct. 18
October 18 – recommended action on resolutions

5. Timeline - Financing
Timeline based on an October 18 board adoption date
October 18
Adopt resolution(s) for refunding and new issuance
Includes proposed financial terms and conditions
Preliminary offering statement
October 24 (week of)
District seeks updated credit rating – Week of October 24
November / December
Packaging and sale of bonds
Mid December / early January
Delivery of funds

6. Questions and Comments
Conclusion
Questions and Comments