About this bond issuance
General Obligation Bonds Of The Paso Robles Joint Unified School District San Luis Obispo County, California, Series 2018
The Bonds are being sold to repair, acquire, upgrade, equip, and construct school classrooms and facilities as well as expand career technical education.
IssuerOften the obligor. However, sometimes issuers partner with an authorized conduit financing non-profit within their state or city to issue the bonds.
Paso Robles Joint Unified School District
AuthorityBefore an issuer can raise money for a project, they must first have the legal authority to do so. This authority is sometimes preceded by a general election, and awarded after the successful passing of a bond measure.
The Bonds are issued pursuant to the provisions of the California Education Code Sections 15140 and 15300 et seq. (the "Act"), California Government Code Section 53506 et seq., and Article XIIIA of the Constitution of the state of California (the "State"). The Bonds are authorized to be issued pursuant to a resolution adopted by the Board of Trustees of the District (the "Board") on March 13, 2018, and are issued pursuant to the paying agent agreement dated as of May 1, 2018 (the "Paying Agent Agreement"), between the District and the U.S. Bank National Association (the "Paying Agent").
SecurityThe security section is a breakdown of the funds an issuer is planning to use to repay its investors. This repayment can come from a variety of sources, including local taxes.
The Bonds are payable from ad valorem taxes to be levied within SFID No. 1 pursuant to the California Constitution and other State law. The Board of Supervisors (the "Board of Supervisors") of the County has the power and is obligated to annually levy ad valorem taxes for the payment of debt service on the Bonds upon all property within the SFID No. 1 subject to taxation, without limitation of rate or amount (except certain personal property which is taxable at limited rates).