reconvene regular meeting: 7:00 pm - Irvine Unified School District

More documents

Recommendations

Info

esponsibility of DTC, and disbursement of such payments to the Beneficial Owners will be the responsibility of Direct and Indirect Participants. NEITHER THE PARTICIPANTS NOR THE TRUSTEE WILL HAVE ANY RESPONSIBILITY OR OBLIGATION TO DTC PARTICIPANTS, INDIRECT PARTICIPANTS OR BENEFICIAL OWNERS WITH RESPECT TO THE PAYMENTS OR THE PROVIDING OF NOTICE TO DTC PARTICIPANTS, INDIRECT PARTICIPANTS OR BENEFICIAL OWNERS. Neither the Participants nor the Trustee can give any assurances that DTC, DTC Participants, Indirect Participants or others will distribute payments of principal of, premium, if any, and interest on the respective Note Participations paid to DTC or its nominee, as the registered Owner, or any redemption or other notice, to the Beneficial Owners or that they will do so on a timely basis or that DTC will serve and act in a manner described in this Official Statement. DTC may discontinue providing its services as depository with respect to the Note Participations at any time by giving reasonable notice to the Participants or the Trustee. Under such circumstances, in the event that a successor depository is not obtained, security certificates are required to be printed and delivered. The Participants may decide to discontinue use of the system of book-entry transfers through DTC (or a successor securities depository). In that event, the Note certificates will be printed and delivered. In the event that the book-entry system is discontinued as described above, the requirements of the Trust Agreement will apply. The foregoing information concerning DTC and DTC’s book-entry system has been provided by DTC, and none of the Participants or the Trustee take any responsibility for the accuracy thereof. Neither the Participants nor the Underwriter are responsible or liable for the failure of DTC or any DTC Participant to make any payment or give any notice to a Beneficial Owner with respect to the Note Participations or an error or delay relating thereto. E-3 Page 198 22314.4 033985 POS
APPENDIX F CONSTITUTIONAL AND STATUTORY LIMITATIONS ON TAXES, REVENUES AND APPROPRIATIONS Constitutionally Required Funding of Education The California Constitution requires that from all State revenues there will first be set apart the moneys to be applied by the State for the support of the public school system and public institutions of higher education. California school districts receive a significant portion of their funding from State appropriations. As a result, decreases in State revenues can significantly affect appropriations made by the State Legislature to school districts. Article XIII A On June 6, 1978, California voters approved Proposition 13 (“Proposition 13”), which added Article XIIIA to the State Constitution (“Article XIIIA”). Article XIIIA, as amended, limits the amount of any ad valorem tax on real property to 1% of the full cash value thereof, except that additional ad valorem taxes may be levied to pay debt service on indebtedness approved by the voters prior to July 1, 1978 on bonded indebtedness approved by a two thirds vote on or after July 1, 1978, for the acquisition or improvement of real property. Proposition 39, approved by California voters on November 7, 2<strong>00</strong>0, provides an alternative method of seeking voter approval for bonded indebtedness (see “Proposition 39” below). Article XIIIA defines full cash value to mean “the county assessor’s valuation of real property as shown on the 1975 76 tax bill under “full cash value,” or thereafter, the appraised value of real property when purchased, newly constructed, or a change in ownership has occurred after the 1975 assessment.” This full cash value may be increased at a rate not to exceed 2% per year to account for inflation. Article XIIIA has subsequently been amended to permit reduction of the “full cash value” base in the event of declining property values caused by damage, destruction or other factors, to provide that there would be no increase in the “full cash value” base in the event of reconstruction of property damaged or destroyed in a disaster, and in other minor or technical ways. Legislation Implementing Article XIIIA Legislation has been enacted and amended a number of times since 1978 to implement Article XIIIA. Under current law, local agencies are no longer permitted to levy directly any property tax (except to pay voter approved indebtedness). The general 1% ad valorem property tax is automatically levied by the County and distributed according to a formula among taxing agencies. The formula apportions the tax roughly in proportion to the relative shares of taxes levied prior to 1979. Increases of assessed valuation resulting from reappraisals of property due to new construction, change in ownership or from the 2% annual adjustment are allocated among the various jurisdictions in the “taxing area” based upon their respective “situs.” Local agencies and school districts share the growth of “base” revenue from the tax rate area. Each year’s growth allocation becomes part of each agency’s allocation the following year. The Participants are unable to predict the nature or magnitude of future revenue sources which may be provided by the State to replace lost property tax revenues. Article XIIIA effectively prohibits the levying of any other ad valorem property tax above the 1% limit except for taxes to support indebtedness approved by the voters as described above. All taxable property is shown at full market value on the tax rolls. Consequently, the tax rate is expressed as $1 per $1<strong>00</strong> of taxable value. All taxable property value included in this Official Statement, F-1 Page 199 22314.4 033985 POS
Page 1 and 2:
IRVINE UNIFIED SCHOOL DISTRICT Admi
Page 3 and 4:
d. Purchase Order Detail Report Rec
Page 5 and 6:
Items removed from Consent Calendar
Page 7 and 8:
Irvine Unified School District Irvi
Page 9 and 10:
Irvine Unified School District Boar
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Irvine Unified School District Irvi
Page 19 and 20:
Item No. 13 a. TOPIC BACKGROUND DES
Page 21 and 22:
Item No. 13 c. TOPIC DESCRIPTION FI
Page 23 and 24:
Item No. 13 e. TOPIC DESCRIPTION CH
Page 25 and 26:
Item No. 13 f. ADVOCATES FOR LABOR
Page 27 and 28:
Item No. 13 g. TOPIC CLASSIFIED PER
Page 29 and 30:
Item No. 13 i. TOPIC DESCRIPTION FI
Page 31 and 32:
STATE OF CALIFORNIA FIVE YEAR PLAN
Page 33 and 34:
STATE OF CALIFORNIA FIVE YEAR PLAN
Page 35 and 36:
Item No. 13 k. TOPIC DESCRIPTION CO
Page 37 and 38:
Item No. 13 l. Sponsoring School: I
Page 39 and 40:
Item No. 14 b. TOPIC DESCRIPTION CH
Page 41 and 42:
Item No. 14 d. TOPIC AUTHORIZATION
Page 43 and 44:
PROPOSED LOCATION FOR MODULAR CLASS
Page 45 and 46:
9 7 8 6 4 5 3 2 1 9 7 8 6 4 5 3 2 1
Page 47 and 48:
Item No. 15 b. TOPIC DESCRIPTION RE
Page 49 and 50:
of the District provided for or att
Page 51 and 52:
for its share of (a) the fees of th
Page 53 and 54:
Section 3. Form of Note. The Note s
Page 55 and 56:
(d) If the Authorized Officer does
Page 57 and 58:
misleading, the District shall prom
Page 59 and 60:
Orange County Treasurer (the “Cou
Page 61 and 62:
Obligations, if applicable, have be
Page 63 and 64:
this Resolution except those the Di
Page 65 and 66:
(P) As a condition to the issuance
Page 67 and 68:
emains in effect or such possession
Page 69 and 70:
eimbursement on a draw or claim has
Page 71 and 72:
Agreement, at the rate of interest
Page 73 and 74:
IN WITNESS WHEREOF, the Board of Su
Page 75 and 76:
California, or its successor in tru
Page 77 and 78:
IN WITNESS WHEREOF, the Board of Ed
Page 79 and 80:
Series __-__ Repayment Months: Firs
Page 81 and 82:
SECRETARY’S CERTIFICATE I, ______
Page 83 and 84:
TABLE OF CONTENTS Page ARTICLE I DE
Page 85 and 86:
TABLE OF CONTENTS (continued) Page
Page 87 and 88:
WHEREAS, the issuance of the Notes
Page 89 and 90:
“Note Resolutions” means the re
Page 91 and 92:
“Purchase Agreement” means the
Page 93 and 94:
The principal evidenced and represe
Page 95 and 96:
name of Cede & Co., as nominee of D
Page 97 and 98:
writing to the Trustee by the Repre
Page 99 and 100:
and shall be transferred to such Di
Page 101 and 102:
equired to be obtained as evidence
Page 103 and 104:
Note Participations, and the stampi
Page 105 and 106:
ank or trust company shall be deeme
Page 107 and 108:
payments to be made thereon by the
Page 109 and 110:
description, stating in substance t
Page 111 and 112:
owners of the Note Participations a
Page 113 and 114:
obligations under this Article XI,
Page 115 and 116:
powers, duties and functions that a
Page 117 and 118:
Moneys held by the Trustee in the C
Page 119 and 120:
IN WITNESS WHEREOF, each of the Dis
Page 121 and 122:
EXHIBIT A FORM OF NOTE PARTICIPATIO
Page 123 and 124:
Agreement permitting the disburseme
Page 125 and 126:
[FORM OF ASSIGNMENT] For value rece
Page 127 and 128:
5. As of the date hereof, no event
Page 129 and 130:
SCHEDULE I PARTICIPATING SCHOOL DIS
Page 131 and 132:
SCHEDULE II PROCEEDS SUBACCOUNT AMO
Page 133 and 134:
WHEREAS, in order to participate in
Page 135 and 136:
Section 6. Conditions Precedent to
Page 137 and 138:
herewith or with the transactions c
Page 139 and 140:
EXHIBIT A SOUTH COAST LOCAL EDUCATI
Page 141 and 142:
In addition to the foregoing, the u
Page 143 and 144:
[Page Intentionally Left Blank] OHS
Page 145 and 146:
PLACE: ELECTRONIC BIDS: Tamalpais A
Page 147 and 148: description of this undertaking is
Page 149 and 150: By making a bid for the Note Partic
Page 151 and 152: This Preliminary Official Statement
Page 153 and 154: ___________________________________
Page 155 and 156: TABLE OF CONTENTS INTRODUCTION.....
Page 157 and 158: each Participant and Appendix A -
Page 159 and 160: The Participants The Participants a
Page 161 and 162: Participant, will be encumbered for
Page 163 and 164: MCCFD for each Participant is funde
Page 165 and 166: (I) That the Participant funded its
Page 167 and 168: with a maximum weighted average mat
Page 169 and 170: acceptances, with a maturity not to
Page 171 and 172: FINANCIAL INFORMATION REGARDING THE
Page 173 and 174: The Participants’ principal reven
Page 175 and 176: specifically defined geographic are
Page 177 and 178: Revision to the Original 2009-10 St
Page 179 and 180: implement several major solutions s
Page 181 and 182: 10. The 2010-11 Proposed State Budg
Page 183 and 184: espect to a school district, the Co
Page 185 and 186: consult their own tax advisors with
Page 187 and 188: judgment of such rating agency, cir
Page 189 and 190: 34 Page 189 22314.4 033985 POS
Page 191 and 192: (THIS PAGE INTENTIONALLY LEFT BLANK
Page 193 and 194: APPENDIX C COVERAGE ESTIMATES SOUTH
Page 195 and 196: APPENDIX D PROPOSED FORM OF OPINION
Page 197: Participant through which the Benef
Page 201 and 202: percentage of State General Fund re
Page 203 and 204: Year 2008-09, the State may shift t
Page 205 and 206: HD&W LLP - 5/11/10 Draft may vary f
Page 207 and 208: Cash Flow Assumptions The table bel
Page 209 and 210: IRVINE UNIFIED SCHOOL DISTRICT CASH
Page 211 and 212: IRVINE UNIFIED SCHOOL DISTRICT STAT
Page 213 and 214: eductions for Fiscal Year 2011-12 w
Page 215 and 216: Item No. 15 c. Department of Educat
Page 217 and 218: Item No. 15 e. TOPIC DESCRIPTION AN
Page 219 and 220: CONTINUOUS IMPROVEMENT EFFORTS Ensu
Page 221 and 222: 21 ST CENTURY LEARNING: ESSENTIAL C
Page 223 and 224: CURRICULUM & INSTRUCTION Curriculum
Page 225 and 226: CURRICULUM COUNCIL MEMBERS - 2010-2
show all

reconvene regular meeting: 7:00 pm - Irvine Unified School District

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?