Approval of Resolution No. 2587 Extending the Capital Projects Fund
WOODLAND SCHOOL DISTRICT #404
CAPITAL PROJECTS FUND BUDGET EXTENSION
WHEREAS, the 2013-14 Capital Projects Fund budget for Woodland School District was adopted with expenditures of $23,045,000; and,
WHEREAS, the District voters approved a bond issue in the amount of $52,835,000 on April 17, 2012 for the purpose of building a new high school and other District projects; and,
WHEREAS, work has begun on the projects and the District expects to expend more than the original appropriation before the fiscal year end of August 31, 2014; and,
WHEREAS, approximately $27,255,500 of the bonds were sold and issued on December 10, 2013, including issuance costs; and,
WHEREAS, the source of funds for the work performed on the projects will be available in the Capital Projects Fund cash and investments, as set forth in Form F-200;
NOW, THEREFORE, BE IT RESOLVED that the Capital Projects Fund be extended in the amount of $6,955,000 from $23,045,000 to total budgeted expenditures of $30,000,000.
Adopted this 27th day of May, 2014.
WOODLANDSCHOOL DISTRICT #404
BOARD OF DIRECTORS
Secretary to the Board President