Agenda Item
Meeting Date: 9/17/2020 - 7:00 PM
Category: Information and Study Items
Type: Action
Subject: Resolution 20-21-08: Establish the Cambrian School District Tax Revenue Anticipation Notes Repayment Fund (3633)
District Priorities:
Enclosure:
File Attachment:
Resolution for the Establishment of the TRANS Repayment Fund.pdf
Summary: The Board of Trustees approved Resolution 19-20-07 authorizing the borrowing of funds through the issuance and sale of Tax Revenue Anticipation Notes (TRANs). The proceeds generated from these sales are deposited with the Santa Clara County Treasury. With that, Cambrian School District must establish the TRANS Repayment Fund for the accounting of associated transactions.
Funding:
Recommendation: Staff recommends approval of Resolution 20-21-08 to establish the necessary TRANS Repayment Fund as described above.
Approvals:
Recommended By:
Signed By:
Penny Timboe - Chief Financial Officer
Signed By:
Dr. Carrie Andrews - Superintendent