RESOLUTION NO. 2008-12

RESOLUTION OF FORMATION OF THE BOARD OF TRUSTEES OF THE COLLEGE OF THE SEQUOIAS COMMUNITY COLLEGE DISTRICT IN CONNECTION WITH ITS FORMATION OF THE COLLEGE OF THE SEQUOIAS VISALIA AREA IMPROVEMENT DISTRICT NO. 2 OF THE COLLEGE OF THE SEQUOIAS COMMUNITY COLLEGE DISTRICT AND TO AUTHORIZE CERTAIN OTHER ACTIONS 

WHEREAS, Chapter 3, Part 10, Division 1, Title 1 (commencing with Section 15300) of the Education Code (the "Act") provides for the formation of school facilities improvement districts consisting of a portion of the territory within a community college district for the issuance of general obligation bonds by such school facilities improvement district; and

WHEREAS, for the purposes of financing certain facilities as authorized under the provisions of the Act and Education Code Sections 15100 and 15264 et seq., the College of the Sequoias Community College District (the "District"), on its own initiative, intends to establish a second school facilities improvement district within the boundaries of the District; and

WHEREAS, as required under Section 15320 of the Act, the District has previously adopted its Resolution No. 2008-06 (the "Resolution of Intention") stating its intention to form the College of the College of the Sequoias Visalia Area Improvement District No. 2 of the College of the Sequoias Community College District and has made certain determinations and findings required under the Act, including the determination that it is necessary and in the best interest of the District to form a school facilities improvement district pursuant to the Act to finance any or all of the improvements set forth in Education Code Sections 15100 and 15264 et seq.; and

WHEREAS, as required under Section 15303 of the Act, the Board of Supervisors of Tulare County has previously adopted a resolution to cause the provisions of the Act to be applicable within Tulare County; and

WHEREAS, in connection with the hearing held on this day, the District has previously caused the publication of the notice of hearing as required under Section 15321 of the Act; and

WHEREAS, Section 15326 of the Act provides that at the conclusion of the hearing on the Resolution of Intention, the Board of Trustees of the District may by resolution order the school facilities improvement district formed for the purpose and with the boundaries described in the Resolution of Intention; and

WHEREAS, on this date, the Board of Trustees of the District has held the hearing on the Resolution of Intention as required in Section 15322 of the Act and desires to adopt this Resolution of Formation to cause the formation of the College of the Sequoias Visalia Area Improvement District No. 2 of the College of the Sequoias Community College District, all as provided in the Act;

NOW, THEREFORE, THE BOARD OF TRUSTEES OF THE COLLEGE OF THE SEQUOIAS COMMUNITY COLLEGE DISTRICT DOES HEREBY RESOLVE, DETERMINE AND ORDER as follows:

Section 1.          The above recitals are true and correct and are incorporated herein as if fully set forth in the body of this Resolution of Formation.

Section 2.          The Board of Trustees of the District hereby orders the formation of the proposed school facilities improvement district and hereby designates the name "College of the Sequoias Visalia Area Improvement District No. 2 of the College of the Sequoias Community College District" with respect to said school facilities improvement district.  Such chool facilities improvement district shall be referred to in this Resolution of Formation as "Improvement District No. 2". 

The exterior boundaries of Improvement District No. 2 shall be as depicted in the map placed on file with the Clerk of the Board of Trustees, and shall include the boundaries of the Visalia Unified School District, the Exeter Union High School District, the Farmersville Unified School District, the Woodlake Union High School District, and those portions of the Cutler-Orosi Joint Unified School District which lie within Tulare County, excluding portions of such district lying in Fresno County. Such boundary map is available for inspection by the public. 

Section 3.          Improvement District No. 2 is being formed to facilitate the issuance of general obligation bonds of Improvement District No. 2 to finance the costs of facilities generally described in Exhibit A hereto (the "Facilities").  This Board of Trustees has determined that the Facilities are consistent with the purposes set forth in Education Code Sections 15100 and 15264 et seq.. This Board of Trustees has further determined that the estimated cost of the Facilities will not exceed $60,000,000.

Section 4.          As provided in Section 15327 of the Act, the Board of Trustees of the District shall have the same rights, powers, duties and responsibilities with respect to the formation and government of Improvement District No. 2 as the Board of Trustees has with respect to the District.

Section 5.          This Resolution of Formation shall take effect immediately upon its passage.

            ADOPTED, SIGNED and APPROVED this 5th day of May, 2008.

AYES:                          Trustees Cardoza, Shannon and Sherman

NOES:                          None

ABSENT:                     Trustees Mann and Zumwalt

ABSTENTIONS:          None