With the pending acquisition, construction, reconstruction, renovation, and equipment of Keystone Heights Elementary, Elementary "R" aka Spring Park Elementary, Elementary “A”, the District expects to incur various costs related to the projects prior to the issue and pricing date of the Certificates of Participation (COPs) that will finance these projects. The attached resolution is necessary to authorize reimbursement from the proceeds of that financing back to the capital project fund that originally absorbed the costs. The United States Department of Treasury has various regulations that govern the reimbursement of construction-related costs that are ultimately financed through tax-exempt debt. The type of costs that are anticipated to be reimbursed include but are not limited to design, engineering, surveys, site preparation, legal advertisements, etc.

The approval of the resolution does not obligate the Board to issue any tax-exempt debt but is necessary to allow reimbursement should the Board later approve the issue of Certificates of Participation to finance these projects.

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The approval of the resolution does not obligate the Board to issue any tax-exempt debt but is necessary to allow reimbursement should the Board later approve the issue of Certificates of Participation to finance these projects.

The district ensures fiscal responsibility & equitable distribution of resources.

Approval of the attached resolution authorizing the reimbursement of certain costs for construction of projects prior to being funded by any tax-exempt debt such as a Certificate of Participation (COP).