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Bond Workshop, 6-4-13, part 1 of 2

Added Jun 14, 2013 •

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we're going to get started. Not really. Under their way in so when you call water good evening I'm going to turn it over to Mike shortly hold introduce the collective team kind of Walkers to through the agenda room for and then open it up for interactive question answers I want to prep it before we start there's their steps in activities and strategies for communication, throughout one of those will be an activity that our team will be sharing there was some miscommunication mom stuff from the district-level about the invitations today things that obviously are collecting Board needs to be aware of any to weigh in on 90 deeply invested in and so I freshen went out and they'll be a corrected communication about what that activity is when it is and what the intention with the goal around that prioritisation names of space shuttles call I would like you to just introduce the team and then we'll pick it up from there let's make this our grief search River tonight the house expert in the field of various Fields who can help us determine if we may want to put them on channel of legation bar on an upcoming valid at some point that's we're here to talk about tonight you'll be hearing from  Arbonne Council Google Star David kosmoski David raise your hand explain what the role of a bond counsel is and you'll be followed by our financial advising advisors Tony Che or Sony and the his associates Gearhart nobody talking about the role that have financial advisor plays in planning to see if you would wish to put a bond on the ballot text to follow up for going to have at the end of the program we're going to have Lexington Sultan's Allen Gafford of Gafford group  Ann Emery knock of amn key Solutions who are going to be conducting star people and helping us to determine if we do in fact wish to put a bomb in a future balance of start by inviting to talk a little bit about what is the role of a on Council is  cigarette just meant to be here again your favorite cousin and I'm in like set a timer for 10 minutes so this little better can you hear anything if you're an album private attorney in San Francisco with a firm called stradling yocca Carlson & rauth well I've been doing this for 35 or 36 years probably the last 20 or so have been concentrated on k14 General Vision bonds and certificates of participation another response in the variety of financing vehicles that are useful for unable to change was County on Divine Council for more than half of the school districts in Los Angeles County and then the bond issues probably 4:35 or 40 I'm told that you're having conversations about the being on the ballot in November 2013 so there are a number of things that about a trade with help you understand and do when go to the position decide whether or not that's the right choice for you to make and it is the right choice how do you procedurally go about doing it stop number one and understand what you have to do to be on the ballot and the first thing you have to do to be on the ballot is to adopt a resolution calling for a bond election and deliver that resolution the County Register of Voters at least eighty eight days prior to the election date so if you want to be on the ballot in November of 2013 August 9th 2013 is the drop dead date by which time that resolution has to be to the county so I have brought down with me a sample of a resolution that I did or Santa monica-malibu Unified School District  Chicago's I'm not going to walk you through the rest Mike has a handful of them I have the number for I was just resolution so many was here would like to see you cuz  there's a few extra copies  so sometime at the end of July or the first week you're going to have to adopt a resolution that looks a little bit like this if you look back at exhibit a to this resolution you'll see the 75 words statement  so in addition to the template of the election order you're going to need to have decided the matter bonds if you want to have authorized and you have to come up with some type of a project list that would set the outer limit boundaries the types of projects that you would want to fun with the bond  and we have to then in the course of preparing Exhibit C that you see the Santa Monica resolution that's a lawyer's interpretation of the project list that was developed in the facility study phase less information that was learned in a voter opinion survey so that the desires of the voters for your facilities and disease is defined by your facility assessment guess all mushed together in a legally compliant way  so that's step number one is getting you on the ballot you have to adopt a resolution Reaper the resolution will prepare the ballot language will take all of the information you give us about your project and create a project list that I think will satisfy the Proposition 39  it will produce the resolution like this sometime well in advance or whatever the meeting is and it will go several draft people will comment on it and you will have to approve that resolution by a two-thirds vote of the board so if you have a five-member board for yes both on this resolution it is not a majority vote action what you adopt at resolution there's a bunch of other little procedural things will sorry about with the County Registrar of Voters example the sample ballot bond election sample ballot before there's a tax rate statement that tells the voters how much cost to be repaid your financial affairs is going to talk to you about that there's a pro valid argument in partial County Council ballot analysis heavily arguments against in rebuttal sister are running so we'll coordinate with the county and make sure that all the requirements for getting on the ballot or satisfied what you get on the ballot here in campaign mode and there is a whole set of laws that govern how public agencies public funds making a bond discussing the need for a bond and will give you a bunch of information about those rules I brought down a truncated one summary of the do's and don'ts for school district during an advocacy campaign  but that's something that will have to pay attention to this is very important not to use public funds to educate for the passage of a bomb advocacy efforts can only be paid for by cry Julia Campaign Committee so the campaign is a 90-day undertaking and the work of the bond Council once you're on the ballot is really to help you answer questions about what can and cannot be done with the ba how you can and cannot be involved we have to do if you win the elections then the bot attorneys rule changes a little bit because I will help you establish your citizen oversight committee I'll draft the bylaws and guidelines for the functionality of the oversight ready I'll participate in a training session to help them understand what their responsibilities are  and then the work really is a bond attorney does what you decide to sell bonds  how do you all of the paperwork associated with issuing General obligation bonds that would Jared by the apple on property taxes that would include a length Lee Bond resolution of the board would approve a shorter resolution of the County Courthouse revisers would approve so there's a whole set of laws that govern the issuance of bonds  is also hosting a different laws that govern how is school districts municate with investors in the context of selling bonds are called Federal Securities laws  school dance communicate with the investment roll through a document called an official statement it's like a stock prospectus if you've ever seen stock perspective will prepare that. it will describe the district it will describe the bond it will describe the security for the bottom this is very important document we take it very seriously play there's a lot at stake into medicating with the investment world the district will approve that document by resolution  which I one Saban gets bonds gift sold the bond attorneys distinguishing role is that we under a legal opinion that says the bonds are valid and enforceable obligation to the district and the interest to investors is exempt from so School general obligation bonds are called municipal bonds they were attractive to investors because interest that the investor earns by buying your bonds can be excluded from their federal income tax return  hey what distinguished Bond lawyers from regular lawyers is that there's only a handful of law firms whose opinions of the investment World on the tax-exempt status of on physics so that's to win the rubber hits the road what do you pay the big bucks for it's the piggy pay the big bucks to get legal opinions at the bond interest is exempt the will deliver that in connection with the issues do boxers in one of the big promises that you make when you sell is that you're not going to do anything with the money to cause the bonds to lose their tax-exempt status until there's another Universe was federalism tax regulations that help govern the expenditure on proceeds we will advise you actively on those rules that will allow you to maintain that test exam so we're involved with the district after the sale of bonds answering questions like  consistent with our battle language can we use Bond this project yes or no can we buy this piece of equipment yes or no can we sublease out space in one of our schools were Financial fines will 501 C3 Corporation yesterday I will answer all those questions as they come up  so that's what's your help and attorneys get paid find attorneys get paid on a contingency basis from the proceeds of bonds are sold so if you lose the election by the please don't get paid anything if you win the elections we don't charge you on an hourly rate basis we charge you on a deal basis of wood bonds so we get paid a small percentage of the bond amount that's the issue the only tear when you sell bonds work with you between the sale of bonds drink questions and maintaining the program but you don't get billed for that service  so that internet troll is is what we do we like to do and what we think we're pretty good at and we're look forward to helping you if you decide to move forward to the resolution calling for the election stage if there any questions about that I'll be happy to  Benjamin, I will keep this relatively informal but to see if and there's about 25 folks here instead of a room so hopefully folks will catch this on video the system up to the podium so that this vehicle can kill you  hey one person that came up right away and then you were saying Home Depot Evans hi and you were just saying that there's limitations music so an example you gave me striking because you said that one of the legal question is whether you can rent out a facility where the bond has been used for us we have a project to improve Robert Frost Auditorium there's talk of potentially racing out that phility occasionally are you able to tell us now can it be structured so that that so so  two sentences of background there's two big time to buy private activity bonds with a beneficiary of the bonds or non-governmental agencies the developer can get Bond proceeds to build a low income house the federal government says that's a good thing UFC can get tax-exempt bond funds bill dormitories because education is a good thing according to the stuff government of a not-for-profit corporation can do that but they're not governmental agency or a governmental agency  your bonds are subject to different regulations at least 95% of the proceeds of your bond have to be used for governmental purposes sometimes District Finance Field improvements that are used by the local soccer clubs in the weekends like this for the church uses on a Sunday where they might do an auditory is it has an occasional private activity concert if that type of uses incidental on a first-come-first-serve basis  did not pursuant to a long-term contract or an operating contract with a theater performance company that incidental use is not violet of private activity that is if you enter into a long-term lease with a entertainment management company for the for the name for the operations of Auditorium for example that contract would be subject to review to determine whether or not that contract create private activity but it would be unusual what is a 99.99% chance that is not going to be the issue for you  thank you yeah Zion Lutheran Church. and I'm in the bathroom behind Jenny I can't see you as long as George lawsuit you mentioned about the selling of Vaughn  if the district wants to sell some 40 million of the bond but they can only sell 20 or Duke or do or does the district use it as the money comes in what is the visitor cutoff day for you so what's up I'm making up these numbers cuz I don't really know but let's just pretend the district start voter approval for 50 million dollars worth of Oz that's fine you don't know spell all the bonds that the voters approved at one time why don't you do that was a couple of reasons one reason is when you sell you have to spend all that money three years because was not designed for you to borrow money at federally subsidized interest rate and input what does an exam the purposes of constructing facilities for the benefit of kids  so you only can issue bonds if you send money in 3 years that's number 1 number 2 of the only issue bonds get the cost of repairs Vons is within the tax rate constraints that are either 4th and Proposition 39 which is the tax not to exceed $60 per 100,000 asset value for some lower number I can pay you may estimate that the tax is not going to exceed $40 per 100 sounds and if you did that that would be your benchmark big Kap the amount of money that you could access from time to time notwithstanding a larger voter authorization for 50 minutes Japan facts for was your question answer diligent you down us if we currently are in mid-January the rating are they okay okay we'll use the mic on Chuck Wagner many sums you know me here yes my wife is a teacher and that's not why he was downgraded if sure guarantee has about the insurance on about 36 million play some outstanding ccusd that it was downgraded there for two we are at a to so going forward I like that to come question you I don't know why it school districts in this day in age with purchase insurance it seems to me that when it school district is in trouble as Englewood is the state rides in with a big basket of money into bonds get paid do you anticipate that there will be a need for insurance or do you thank you can get by without it and get the kind of stale you'd like like what Stockton got in August  Stockton School District happen to be the tourney for Inglewood too and I can tell you that the state doesn't ride in with a pile of money to pay off a general locations on General obligation bonds are secured exclusively by an ad valorem property tax is Englewood going to sell Bonds in the next week or two gifts they are but we just went to the bond rating agency this last year the rating has not been released yet but they they are today the lowest rated School Lincoln California 26 + 326 District were raided by movies why will they bye bye Insurance because the rating of the two insurance company still in business is higher than Inglewood rating is on the 7th so those districts that buy insurance are in similar situations their credit rating is not as good as the insured ready so they pay a little premium to get upgraded and it reduces the interest rates on their bonds to the point that that's an efficient transaction they save the taxpayers money we're reducing the borrowing costs by buying insurance for the bottom it has nothing to do with the state riding in with anybody change signal go to the board thank you what you think that then we would have to buy insurance or you can we wouldn't go you're going to go to prison advisor that would be a good question for you  okay text me somebody else send me one first  actually went straight to the back to you quickly run through the process that we use to a higher Arkansas concluding gentleman  I know you set the food up by email but I will preciate it to the auto electrolysis of proposals from five different advisor firms in Fort Worth different fun Council Thrones I Believe by memory may have those numbers list all of the babies to eat within a very narrow band and therefore we conferred with our Lexington poultice to determine what was the number one who they work with four and felt would be excellent additions to our team and number to who they thought were among the premier crimes in the state Mary's expectations and there's a lot we chose this particular combination firm because they have a working relationship in the past without Lexington tell him to know you're always the work done and they basically before the national team and if you correctly that prices will be headed there for the rest of the prices were in a very narrow band question I think you very much the first one you mentioned about the the campaign portion versus the can I love the word to use but Dave asprey information I wonder I know when I city did attacks and it said last year they had their campaign commit for there a tax increase controlled by the five City Council Members is that a knot in their role of city council members for the words it wasn't like they discuss the meeting but the five of them were the leaders of The Campaign Committee is that something that you seen before yes yes that's possible elected dinner private citizen capacities can serve on a Campaign Committee advocating for the passage upon in the capacity private citizens on their personal time the second thing on and again this may be something more conducive down the road I wonder if you seen any creativity in the ways that bond amounts are constructed in order to make them more Progressive or is it always Christopher herb whatever property value or what  you definitely in which the school district doesn't have discretion with call says is that the bonds are secured by the levy of an ad valorem property tax on property when they sell bonds the repayment of those bonds has principal and interest in politics  those are some of those to the principal the interest repayment constitute the revenues that you need paid the debt that number is given to the county and the county then just doesn't mathematical calculations even a credit against the assessed value of all the difference in the prop not otherwise exempt in your property taxes back we need to Levy attacks at a rate of $10 $20 $40 whatever it is the weather in single-family home multi-family  fit dustrial business it doesn't matter it's whatever the assessed valuation they cancel time I answered your first question from the bomb Council and financial advisers are employed subject to board approval that's coming for me Netflix  next going to be hearing from our financial advisors Buy Sony shares and Chris Gearhart with the kitchen advisors on came very highly recommended and everything so make a wonderful addition to an evening paper having here 90 seconds sorry about that okay my name is Tony hsieh nearby specialize in financial advisor work Focus Cinema on California pools at 8:14 we work at the number of the school district in the county I just dropped them off and I'm on Malibu also at Lindale unified Long Beach Unified so you broke a lot of big district and County so what I brought today I was going to do a couple pages on what is that we do as a financial advisor  you heard David about what he does as your counsel and what he does really look out for the legal aspects in addition to make sure that you are sending bonds dollars YouTube on number of Neil from Henderson be pretty you can heat up a 40  what we do is we reproduce Harry on a financial can we look at interest rate tax rate really for me leaving your bond plan there's a lot of considerations that we have to look into when you're can you Bond on a ballot and then want to buy passes? just wanted to go through some of those things with you and of course answering questions at New Florissant second page of the handouts we have here is first need some of the duties that we have during the pre-election states that it is anything on a balance David talked about when you put your bomb on the ballot you have to know what your projects are even though your tax rates are money are you asking the community to approve  conjunction with those projects  and whatever the bond plan is well the come up with those particular numbers like a lot of back-and-forth normally when we work with the districts during this phase we are meeting with you regularly Hollywood medium include your District staff board members sometimes we have stakeholders in the community talk about various product ultimately we need to do arrived at how much money you going to ask for how quickly you need it to fulfill your distance vision of your bond program and what aspire to deliver that money to you on a timely basis as you can imagine that requires a lot of iterations not say regularly were probably showing the district, 3040 San Dario support one is finally chosen I'll send the discussion we answered a lot of questions on the pros and cons and cenario magic as you I'm sure you know you seen a lot in newspapers lately about school bonds there's an assembly go out there that would limit how we can issue bonds and that becomes part of the discussion as well there's a lot of things going on so long as we have to make sure that you are aware of that and that work structure and bond program with those things in my Montrose MI * 1/2 I'm so once we decide or once the district decide those three things what's the tax rate how much you're asking for I really what your projects are that information of course is put into the documents I gave it happen Okay and his team we will help review that information to make sure that all the numbers are in there correctly one thing that we are responsible for preparing as far as the election. go is the tax rate baby not basically estimate to your voters as what response when I was going to cost of David mention the $60 the maximum that even if I did not for under $39 so whatever the Packer ends up being that we asked voters for in this community that needs to be properly represented in that hat trade Hitman I'm so then really all that leads up to getting Vaughan once about is on the ballot and the board has approved the resolution through in that campaign paid during that phase we're not stop it so I think turn up to you'll be regularly talking with your campaign consultant you'll be talking with David a lot on what you can and can't do during a bond what are rolled rings at is making an answer any questions that you might get for making meeting what is this going to cost me as a homeowner in the district those are all questions that we can help answers that regularly a we are as active during that campaign unless there's tournament Financial questions that come up that we can help help you answer comments about here's where we really starting time now we're in the human face and soap typically a bond financing takes about 6 to 10 weeks fighting that we're going to eat you are first through the bottom she was delivering the proceeds to the county so that you can spend it on Project  I'm doing that 10 weeks a lot of the stats that I've listed on here are happening simultaneously the key steps are really the first in the main goal for us to make sure not only are we delivering the proceeds that you need you on time but we're delivering them to you in a way that is most cost-effective for the taxpayers not so we look at how the body structure in from assembly Bill 182 and all the talk about giovan's for school you know that would want to try to avoid capital appreciation on we want to try to time the market as well as possible to avoid Peaks and interest rate all those rates are going up right now and then just making sure also that we're communicating clearly with the treasurer-tax collector's office of LAX on this County The treasurer-tax Collector has given a very active role in school bond financing so they've always want to make sure that we're communicating with them so they know what our plans are and they are on our side Sheila take a meeting making sure that they know what we are what we are doing with our bond program what was going to circle the point needed to talk about on the credit rating right now you have very solid credit ratings this is just the disagree not the monitor so you have a Double H with me recently mine with that computer so it's these metrics stay the same in the bond insurers continue to be there show me rated we would not be so we would just sell your bond with your hurry because they're very high right now  put on credit ratings we do have to go back to both Moody's and Standard & Poor's every time itself on so each time we do that we do develop in conjunction with and your bond council credit rating strategy so we put together presentation as a group we try to leave with our best foot forward so we talk Back Taxi start strong talk about your District finances and talk about your local economy and all the things that we know they want to hear about because we've done this in so many years but those are the category got to look at how late is it to manage  I want to get the credit ratings at David's office is actually been on this from day one but we also help communicate over to his office the financial information on the structure that we chosen for this sub David talked about it she wants resolution to talk about that official statement so we we look at all the. But those two documents we look particularly close to me cuz they're very important fish which resolution is the board authorizing authorizing administration's move planting given certain parameters on them what's the maximum interest that you're willing to approve these how much do you want to shoot for the first series of Oz internet connection is the document that investors look at for everything on there happen correct  Liberty Tax look at that  once everything is documented we soar switchgears tube on sale mode and we work with your with your underwriter back from that responsible for selling your bond to the investing in meetings and they've been working at this point with investors see where they are the where are interest rates where are Jesters interested in buying your boss at first interest rates go soak in the bath and forth between our firm the underwriter will look at various structures that investors are suggesting that they have a certain request will run the numbers and we will try to take the tractor only if it benefits the district bars lower borrowing costs  ultimately what we do on the day of the Bosco is will look at all terrible financing silver say okay over city is rated double-a to Dublin miles what other financing have sold recently that have similar credit rating and also similar structures mobile want to look at interest rate those comparables achieve or see what the underwriters are proposing for our family will make a final recommendation to the administration as to whether you should accept the Trade Center proposed by done right or or reject Supply demand for what's that the interest rate is accepted then really it subs give me of that certain David hands to make sure that all the documentation is completed that finalized with all the interest rate for no mouth better soltes investors and weep review that no we're not done your financing is out for about 25 years during that 25-year time several questions to come up and they always do if there's any good news at the district level of want to make sure we communicate that to rating agency always efforts to increase your credit rating to a higher level for a better better mattress and then one of the things that some are office private cell phones off of entering your outstanding Bond financing to see if there's anything Pastor savings opportunities with interest rates and we always want to that let you know if we can sell responding Bond lower the contacts and that is basically what we do any questions component of the packages so do this in the campaign one of the obvious things to discover come out of his need to make that argument in the property owners that through this pain that idea here's one of the artist for that as well you improve the school your property values will go up that will benefit you more than the constant what the same do you help with that argument at all do you have any kind of human study by Yale two years ago there's some other things in the show that when you approve this. Evaluate the level you got a handle on that information  that's great question that is something that regularly comes up for Avant why we don't have an internal study I know that but as you make yell decline or and save one  but we can ask go in download a lot of data I'm on disrespecting our high cheating and make it there is a definite correlation between High pvschools property values that we can download and update information for you on  Sandy hopefully people can hear me cuz I'm holding the mic work because we can't hear anybody back there and I grenades with big amplification in it so I don't know if you answered or the questions been asked yet are these bonds going to be fixed rate adjustable rate and having bought stock and sold it everytime I do something the commission that is paid to the property there is a commission that is paid to the people involved what stop it song first question at the first question was fixed-rate bonds not allowed to sell Barry Bonds so we'll all be fixed rate what type of question there is a car lease financing as financial adviser our cost is very similar to David said we only get compensated if the district sells on successful so a lot of the pre-election work that we do or work in between my next exactly do hang ups for that it's all through this time only if you complete each financing the commission or the actual sperm selling them the underwriter that would come out of on proceeds as well but I don't exactly know the district plans as far as not the second fastest point call Conifer. Ben Wildwood say write down as a lot of decompressing with underwriting to be so if they are coming down quite low and I think something that's probably in the realm of what we seen lately anywhere between  no a half percent of 2.7 .8% of the amount that you're selling any questions help me on you Channel 4 number in your opinion why is this or isn't it a good time for us to turn pencil box well I think from a financial standpoint interpreter very long we've all heard that rates are going up and they have but when we rig going back about 46 years were still in the year are 4250 your love so if you do have projects that you want to implement district and therefore you might have fun so then it is a good time to borrow just just as a lot of people are buying homes right now because rate for a loan are refinancing the mortgages the low-cost balling right now  I think on the other merits of the bond program I think that's probably you know more for someone else to bad for you not not me but I think it's happening then it's a good time to sell bonds I think right now none because we're not the middle of on program where we were relying on 40 years on for next two Provisions in there that are the most winning first one is right now your left stuff for new calendar you can only sell a long maximum term of 25 years  so it would be similar to if if you're going for a 30 year mortgage in the mortgage company send out we're only can your mortgage is now okay well either pay much higher monthly mortgage payment or I have to buy a lot left house I'm so similar effect for a bottle the other provision is probably read the newspaper on me but there's a Florida one repayment ratio cap their timing wow that is measured is let's say for example that the district out there that sells 10 million in Geo box they don't want the total repayment in the morning from your one here 25 so that's the Florida one cap the 40 versus 210 well right now there's no cap on it so distribution do 40 bond with all capital appreciation Bonds in repayment ratios of whatever that would lead to so GoToMeeting  that's when we look at the numbers and  say you're such a bond program out those are things that we will be Michael love to make sure that you are within the guidelines of symmetrical monitoring of their monitoring by your yes so we said your box out there the song time it's John truly never done because things pop up all the time could just be a question from investor or could be that raped at drop down so low got to make sense for us to refinance your bonds and Tascam savings back your tax papers so because we can lower the interest, so we will continually whenever we see interest rate we know that you were one of our clients so hopefully we will rerun the numbers and make sure that if there's a savings Advantage for you that you captured famous food that we disagree  what you give us a price is this yeah so you're not paying us to monitor but if there is a refinancing opportunity it's much like if you went to a mortgage broker and said Rachel lower I'd like to refinance my mortgage you pay him something yes that's the only time it makes sense you have successfully completed it doesn't get completed your pass what's up  we didn't need to fuss with Mickey Mouse with 165 million dollars how would you handle that would use after that 5 million what would be the process would be would you go about that is the question how much do you ask a community for yeah not for me weather the question anybody else up here Alyssa Henderson the bond basically is cured by the property that in Culver City  correct we sold 4.9 miles of Culver City so that we have an assessment as far as how much the property worth silver you have a house. So what I'm going on my my question is this what is the loan-to-value 1 Culver City other words what is how much do we have to borrow can leave the district the seat of the Culver City Unified School District and what is our what is the max based on the the assessment far as how much are property in Culver City at work right now and then what is what's the maximum loan value I guess so in the repayment of Geo bonds is based upon Ashley your asset value not the market value so County Jail next day right now we have to bring some back of operations your current District accept Elliot is 7.5 billion in change stop at the market value way higher than that because you have a lot of free Prop 13 how long ago so good thing is that the tax rate is levied on except are you not the market value and as you know under Prop 13 your stuff how you can't go up more than 2% per year so far as maximum that Bob's borrow there is there is a statutory Cat And Hoes by the state that says you can't borrow more than a certain amount and if the percentage YouTube my history two and a half percent right now because you're on your best ally with seven and a half billion two and a half percent of that is 187 million  from that we subtract when you have outstanding already in bonds from your prior Bond measure which stop 33.8 and change stuff  search up well right now your bonding capacity if we can issue all of it today is 153.9 million right now what happens as assessed value growth it will be paid on your old phone that number goes up  okay some kind of feel that there's a question here to pick us up it will go up as so what we know is how quickly pay down your about to set schedule what we don't know is how your stuff drives me to grow each year because Market you know if there's reassessment  Summit County but I think what we do when we plan a bond is we are conservative on the growth assumptions for that you don't get caught short I think we might be done with this component thank you so much Happy Mexican have Ellen Gap Gap room and Anna Marie Knox of A&M t solution Sonic and Consultants Bieber bus  lucky enough to have in here tonight we will give her part of the Community Education involvement process the team club and got some information to share about an hour ago in the process of that and how we're going to be doing that down the road thank you  good evening light cycle have a good evening my name is going to talk tonight about the process occur before you make a decision regarding receiving with the bond election what are the important issues that we are going to talk about in terms of the process is that difference. A big difference in the taste of they are wanting a lot more engagement and you are definitely a community my birth to all people you are here on a study session cheerleading school that are very desires and engaged with the changes that are going to be happening as you know you have 26,000 1932 voters in your communication process is it going through or going to help evaluate the support level of those voters placing the fundraiser on Ballas and cleaning in strategies the first is a facility prior to vacation day and this is basically going to be an activity within your community exactly going to be held in this facility on June 15th at 10 a.m. in the morning we're going hopefully have 60 or 70 people of which some have been invited it will be more invited that will be essentially sitting it of six to eight individuals in the reason for that is there's a scientific reason for six to eight people collaborate at a table we're going to be doing if we're going to providing any 45-minute game after a brief presentation of the facility needs a description of your facility project we're going to be giving them plenty money okay they're not going to happen since 165 million dollars and play money there is there is going to be there to be racked because none of us get everything we want and if you do I want to know how we're going to get you're going to get it off you're going to get 40 of the total amount of money amongst the table and the reason for this is very simple in this game we want to know why for some things not how many people support something which is the answer that we get from a survey okay this is being done before this valid telephone survey to try to figure it out and to gain any additional insights week and prior to placing that instruments in front of the public I'm going to the 45-minute game there will be a facilitator or volunteer from The District staff at each table and I have acid cater deep that the facilitator needs to fill out the table will make their priority assessment there will be a report out to the rest of the group because everyone knows it over once in Overland inclusions of that part of the game  one reason for this is because not only do Dave engagement we also educate a great many of your community stapled and opinions regarding the very real your community in a fun and collaborative way  very enjoyable the second thing that we're going to be doing which is Shawnee Mission of cookies recipe we will ensure the Sarasota Florida call my wife. Liuna reading Oliver Twist that that's a critical role of of our board in terms of recommendations around those key stakeholders so in terms of the manner in which that we would solicit those recommended in his individuals would be through May and I would forward that on to you getting into that in order for this game to be limited only to those that are in because we're trying to keep it takeover presented us rather than a public activity of the board will need to decide which two Representatives

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Bond Workshop, 6-4-13, part 1 of 2

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