Special Meeting/Workshop

1. Call to Order: 3:20 p.m.
2. Public Comments: None
3. Agenda
4. Approve Sale of Certificates of Participation
   Motions:
   

   I recommend the School Board adopt a Resolution authorizing execution of Schedule 2006A Series 1 and 2 to the Master Lease and approve the sale of Certificates of Participation, Series 2006A in an aggregate principal amount not to exceed $230,000,000.00.	-	PASS
   Minutes: This Resolution delegates authority to the Superintendent to negotiate the terms of the transaction with the underwriters within the parameters set forth in the Resolution. The Resolution also authorizes the execution and delivery of all instruments and documents necessary to complete the transaction. COPs issuance is included in the Five Year Plan and was scheduled to close in July 2006 (FY 2007). The issuance will be expedited by one month to ensure completion prior to the implementation of PeopleSoft and the end of the fiscal year. The issue will be sized to net the School District sufficient funds to finance the projects. The Finance Committee reviewed the transaction and unanimously approved it at their meeting on April 21, 2006. Board Members discussed: Scripps (Richmond); differences in Class Size Reduction, FISH, Program and Core capacity (Robinson); and financing concretables through COPS (Burdick).
   Vote Results:
   Motion: Debra Robinson
   Second: Mark Hansen
   Sandra Richmond	-	Aye
   Paulette Burdick	-	Aye
   Mark Hansen	-	Aye
   Debra Robinson	-	Aye

   
   
5. Recess School Board Meeting
6. Convene Meeting of Palm Beach County School Board Leasing Corp.
7. Annual Election of Officers
   Motions:
   

   I recommend the School Board Leasing Corporation consider the annual election of officers.	-	PASS
   Minutes: The Current Officers are as follows: Chairman Thomas Lynch, School Board Chairman; Vice Chairman William Graham, School Board Vice-Chairman; Secretary Dr. Art Johnson, Superintendent; Assistant Secretary Joseph Moore, Chief Operating Officer; Treasurer Leanne Evans, Treasurer. The Proposed Officers are as follows: Chairman Thomas Lynch, School Board Chairman; Vice Chairman William Graham, School Board Vice-Chairman; Secretary Dr. Art Johnson, Superintendent; Assistant Secretary Joseph Moore, Chief Operating Officer; Treasurer Leanne Evans, Treasurer.
   Vote Results:
   Motion: Mark Hansen
   Second: Debra Robinson
   Sandra Richmond	-	Aye
   Paulette Burdick	-	Aye
   Mark Hansen	-	Aye
   Debra Robinson	-	Aye

   
   
8. Approve Sale of Certificates of Participation
   Motions:
   

   I recommend the School Board Leasing Corporation adopt a Resolution authorizing execution of Schedule 2006A Series 1 and 2 to the Master Lease and approve the sale of Certificates of Participation, Series 2006A in an aggregate principal amount not to exceed $230,000,000.00.	-	PASS
   Minutes: This Resolution delegates authority to the Superintendent to negotiate the terms of the transaction with the underwriters within the parameters set forth in the Resolution. The Resolution also authorizes the execution and delivery of all instruments and documents necessary to complete the transaction. COPs issuance is included in the Five Year Plan and was scheduled to close in July 2006 (FY 2007). The issuance will be expedited by one month to ensure completion prior to the implementation of PeopleSoft and the end of the fiscal year. The issue will be sized to net the School District sufficient funds to finance the projects. The Finance Committee reviewed the transaction and unanimously approved it at their meeting on April 21, 2006.
   Vote Results:
   Motion: Mark Hansen
   Second: Debra Robinson
   Sandra Richmond	-	Aye
   Paulette Burdick	-	Aye
   Mark Hansen	-	Aye
   Debra Robinson	-	Aye

   
   
9. Adjourn: 3:40 p.m.