BOARD RESOLUTION NO. 22:03-04

RESOLUTION OF THE BOARD OF EDUCATION OF THE SADDLEBACK VALLEY UNIFIED SCHOOL DISTRICT TO ESTABLISH GUIDELINES FOR FACILITIES MAINTENANCE AND REPLACEMENT PROGRAM

            WHEREAS, the Board of Education of the Saddleback Valley Unified School District is anticipating approval by the voters of general obligations bonds for the purpose of repairing or replacing old and deteriorating facilities and making critical additions to its sites; and

            WHEREAS, the Board has received advice from the community and the Orange County Treasurer/Tax Collector that supports the creation of a facilities repair and replacement program to demonstrate the fiscal responsibility and budgeting discipline of the District; and

            WHEREAS, the Board has determined that it is desirable to establish a facilities repair and replacement program to insure future repair and replacement of the District’s facilities;

            NOW THEREFORE, THE BOARD OF EDUCATION OF THE SADDLEBACK VALLEY UNIFIED SCHOOL DISTRICT DOES HEREBY RESOLVE AND ORDER AS FOLLOWS:

      (A)    The District shall continue to budget and expend a minimum of 3% of the General Fund expenditures for maintenance and deferred maintenance expenditures annually;

      (B)      Planning for current and future facilities and construction needs have been included in the District’s Facilities Master Plan and the Plan includes estimates of specific costs for necessary maintenance, repairs and construction of facilities and includes a $20 million plus contingency fund equal to 8% of the total cost of all facilities listed in the Master Plan;

      (C)    Over the next thirty years (2004-05 through 2033-34), the District will receive nearly $84 million through agreements with redevelopment agencies.  The District commits 100% of these funds to construction, rehabilitation and upgrading of District facilities;

      (D)    All funds received through mitigation agreements or other fees collected from developers, contractors or homeowners shall be set aside in a restricted fund designated for facilities construction, repair and rehabilitation; and

      (E)    Other funds, including but not limited to, federal facility construction/reconstruction grants and additional General Fund contributions shall be set aside in a restricted account for facilities repair and construction.

      (F)    This Plan shall terminate when all bonds authorized by Resolution No. 17:03-04 have been repaid.

ADOPTED, SIGNED AND APPROVED this 2nd day of December 2003.

                                                      BOARD OF EDUCATION OF THE

                                                      SADDLEBACK VALLEY UNIFIED

                                                      SCHOOL DISTRICT