Board Meetings
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Special Board of Education Meeting
Friday, July 27, 2012, 7:30 AM
Meeting Information and Documents:
- Meeting Location:
DeLayo Martin Community Room Alice and Bruce King Educational Complex, 6400 Uptown NE - Meeting Notice: Posted on April 23, 2012 at 3:32 PM
- Agenda Packet: Posted on July 25, 2012 at 5:37 PM
- Minutes
- Calendar import:
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Additional Details
Special Board of Education Meeting
AGENDA
Friday, July 27, 2012
7:30 AM
DeLayo-Martin Community Room, Alice and Bruce King Educational Complex, 6400 Uptown NE
Albuquerque, New Mexico
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I. |
Call to Order |
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A. |
Roll Call |
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B. |
Adoption of the July 27, 2012, Special Board of Education Meeting Agenda (Discussion/Action) |
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II. |
Special Issues |
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A. |
Public Forum Regarding General Obligation Education Technology Notes |
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B. |
Consideration to Adopt the Resolution Authorizing Entering into the Lease Purchase Arrangement and Issuing the Notes to Acquire Educational Technology Equipment in an Amount not to Exceed $13,000,000. (Discussion/Action) |
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III. |
Adjournment |
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Minutes of Special Board Meeting
The Board of Education
Albuquerque Public Schools
A Special Board of Education meeting of the Albuquerque Public Schools Board of Education was held Friday, July 27, 2012, beginning at 7:30 a.m. in the DeLayo Martin Community Room, Alice and Bruce King Educational Complex, 6400 Uptown Blvd. NE.
I. Call to Order
The meeting was called to order at 7:35 a.m.
A. Roll Call
Present: Analee Maestas. Kathy Korte, Lorenzo Garcia, Martin Esquivel, Paula Maes, David Robbins (by phone)
Absent: David Peercy
B. Adoption of the July 27, 2012, Special Board of Education Meeting Agenda (Discussion/Action)
Martin Esquivel motioned to adopt the agenda. Kathy Korte seconded the motion. Board members unanimously adopted the July 27, 2012, Special Board of Education meeting agenda.
II. Special Issues
- A. Public Forum Regarding General Obligation Education Technology Notes
There were no participants in the public forum.
B. Consideration to Adopt the Resolution Authorizing Entering into the Lease Purchase Arrangement and Issuing the Notes to Acquire Educational Technology Equipment in an Amount not to Exceed $13,000,000. (Discussion/Action)
Don Moya, chief financial officer, Art Melendres of Modrall, Sperling, Roehl, Harris & Sisk, P.A., and Paul Cassidy of RBC Capital Markets reviewed that the APS Board of Education approved a resolution in June 2012, which determined the necessity to issue Educational Technology Notes (ETNs). They explained that the ETNs allow leasing, maintenance and support of technology, are part of the current capital master plan, and do not increase taxes and would not change the current capital master plan strategy.
Board members were requested to adopt the resolution authorizing entering into the lease purchase arrangement and issuing the notes to acquire educational technology equipment in an amount not to exceed $13 million and approve the sale of the ETNs series 2012 to George K Baum, Robert W. Baird & Co. and Stone & Youngberg
Board members requested information about the interest rates and concern about how the bonds related to the volatility of the bond market.
David Robbins motioned for adoption of resolution and sale. Lorenzo Garcia seconded the motion. Except David Peercy, who was absent from this meeting, board members unanimously adopted the resolution authorizing entering into the lease purchase arrangement and issuing the notes to acquire educational technology equipment in an amount not to exceed $13 million..
III. Adjournment
The meeting adjourned at 7:47 a.m.