Agenda Item
Meeting Date: 7/13/2020 - 6:30 PM
Category: New Business
Type: Action
Subject: Resolution for Direct Deposit Amendments
Board Goals:
Policy:
Enclosure:
File Attachment:
Resolution authorizing amendment to Direct Deposit Agreements.pdf
First Amendment to DDA (Series 2019A).pdf
First Amendment to DDA (Series 2019B).pdf
Background & Rationale: Approval allows the District to move two monthly MOHEFA direct deposit payments for 2019A and 2019B bonds from October and November to January and February.

This will benefit the District by aligning all MOHEFA payments to the same schedule. It will also ease cash flow in the months immediately preceding the receipt of revenues from local property taxes.

Approval is requested for the change to take place prior to the October state aid payment.
Budget to be Charged:
Motion: I move that the Board approve the Resolution Authorizing Amendment to Direct Deposit Agreements for the Series 2019A and Series 2019B bonds which will take effect prior to the October state aid payment.
Approvals:
Recommended By:
Signed By:
Jacqueline Vernon - Finance Supervisor
Signed By:
Dr. Steve Shelton - Associate Superintendent of Operations
Signed By:
Dr. Allan Markley - Superintendent