DATE: August 5, 2025
TO: Board of Supervisors
SUBMITTED BY: Oscar J. Garcia, CPA, Auditor-Controller/Treasurer-Tax Collector
SUBJECT: Laton Joint Unified School District 2025 Tax and Revenue Anticipation
Notes (Not a County Liability)
RECOMMENDED ACTION(S):
TITLE
Approve and authorize the Chairman to execute Resolution providing for the borrowing of funds on behalf of the Laton Joint Unified School District (Laton JUSD) for Fiscal Year (FY) 2025-26 and the issuance and sale of 2025 tax and revenue anticipation notes therefor, in an aggregate principal sum of not to exceed $3,000,000.
REPORT
Approval of the recommended resolution would authorize the County to borrow, on behalf and in the name of Laton JUSD, an aggregate principal sum of not to exceed $3,000,000, by the issuance and sale of 2025 tax and revenue anticipation notes (TRAN). Such action includes approval by your Board of the form of the notes, and authorizes the Auditor-Controller/Treasurer-Tax Collector (ACTTC), the County Administrative Officer, and the Chairman to take any and all actions and execute any and all documents, that are necessary to the issuance and sale of the TRAN as provided in the recommended resolution on behalf and in the name of Laton JUSD, such as the Note Purchase Contract and an Officers' Certificate of the County. The portion of Laton JUSD that is in Fresno County is located in District 4.
ALTERNATIVE ACTION(S):
Your Board may choose to deny this action and the County would not borrow funds by the issuance of a TRAN on behalf and in the name of Laton JUSD for FY 2025-26. If your Board does not approve the recommended action, then Laton JUSD appears likely to suffer the effects of a projected negative cash flow during Fiscal Year 2025-26.
FISCAL IMPACT:
There is no Net County Cost associated with the recommended action. Because the County would be borrowing funds in the name of Laton JUSD, Laton JUSD has pledged that the TRAN will be obligations of Laton JUSD and wil...
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