Title: 2.  ADOPTION OF CERTIFICATES OF PARTICIPATION RESOLTUION

Requested Action:
RECOMMEND THAT THE DUVAL COUNTY SCHOOL BOARD ADOPT THE CERTIFICATES OF PARTICIPATION (COPS) RESOLUTION

Summary Explanation and Background:
On April 3, 2007, the Board approved the amended five-year facilities plan.  Included in that approval was the assumption of a future debt issuance of Certificates of Participation (COPS).  Adoption of the attached resolution, prepared by our Bond Counsel, allows the district to finance up to $200,000,000 of costs associated with projects outlined in the amended facilities plan at a future date and reimburse itself or expenditures prior to financing.

Attachments (list):
COPSresolutionJuly2007.doc

Financial Impact (Including HR/headcount/Source of Funds):
This is the first step in the process to issue COPS.  This resolution allows for the reimbursement to the district of costs expended for approved projects up to $200,000,000 that precede actual debt issuance.

For Additional Information, contact:

Mr. Michael Perrone, General Director Budget Services, 390-2097

Ms. Thresa Giles, Chief Business Officer, 390-2653