Santa Clara County Grand Jury • 2012-2013

2012-2013 Santa Clara County Civil Grand Jury Report, Our Schools Do Not Need Zeros*

Published: September 11, 2013 1 pages
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Findings and Recommendations 1 findings

F1
CABs shift large, compounding interest costs to future taxpayers and will inevitably compound the burdens school districts face in operating effective schools for their students in the future. We, the Mt. Pleasant School Board of Trustees agree with the findings of the Grand Jury regarding CAB bonds compounding interest creating a burden to school districts and its community.
Related Recommendations (1)
R1
Each school district in Santa Clara County should adopt a Board policy and any necessary administrative regulation indicating is intent to comply with he moratorium called for by the State Treasurer and the State Superintendent of Public Instruction The district passed a 25 million bond during the November 2012 election. In May of 2013, the district financed 12 million in current interest bonds in compliance with the General Obligations bonds as adopted by Mt. Pleasant School Board. The district will abide by the laws of the legislature when it finances the remaining part of the bond. Administrative Office 3434 Marten Avenue, San Jose CA 95148 Phone (408) 223-3710 Fax (408) 223-3715

No Responses Found 1

Government entities assigned to respond to this report. No response documents have been linked in our database.

Mount Pleasant Elementary School District School District

* This report's PDF did not contain easily extractable text and required Optical Character Recognition (OCR) for analysis. There may be minor errors in the extracted findings and recommendations due to OCR limitations with scanned documents.