Citizens' Bond Oversight Committee (CBOC)

Culver City Unified School District was successful at the election conducted on June 3, 2014 in obtaining authorization from the District’s voters to issue up to $106,000,000 aggregate principal amount of the District’s general obligation bonds (“Measure CC”). The election was conducted under Proposition 39, being chaptered as the Strict Accountability in Local School Construction Bonds Act of 2000, at Section 15264 et seq. of the Education Code of the State (“Prop 39”). Pursuant to Section 15278 of the Education Code, the District is obligated to establish an Independent Citizens’ Bond Oversight Committee in order to satisfy the accountability requirements of Prop 39. The Board of Education hereby establishes the Independent Citizens’ Bond Oversight Committee which shall have the duties and rights set forth in the bylaws. The Committee does not have legal capacity independent from the District.

The purposes of the Committee are set forth in Prop 39, and the bylaws are specifically made subject to the applicable provisions of Prop 39 as to the duties and rights of the Committee. The Committee shall be deemed to be subject to the Ralph M. Brown Public Meetings Act of the State of California and shall conduct its meetings in accordance with the provisions thereof. The District shall provide necessary administrative support to the Committee as shall be consistent with the Committee’s purposes, as set forth in Prop 39.

The proceeds of general obligation bonds issued pursuant to the election are referred to as “bond proceeds.” The Committee shall confine itself specifically to bond proceeds generated under Measure CC. Regular and deferred maintenance projects and all monies generated under other sources shall fall outside the scope of the Committee’s review.