6. SPECIAL MEETING for PALM BEACH COUNTY SCHOOL BOARD LEASING CORP immediately following Special Meeting in the Board Room

0 Wednesday, December 6, 2023 6. SPECIAL MEETING for PALM BEACH COUNTY SCHOOL BOARD LEASING CORP immediately following Special Meeting in the Board Room This meeting is open to the public. Agenda Topic Speakers heard at this meeting. Please call the Board Office at 561-434-8136 to sign up by noon the day of the meeting, send written comments to boardoffice@palmbeachschools.org, or turn in a blue card to the Board Clerk prior to this meeting being called to order. 1. Call To Order Subject Chairman Opens Meeting - Board Clerk Takes Attendance Meeting Dec 6, 2023 - 6. SPECIAL MEETING for PALM BEACH COUNTY SCHOOL BOARD LEASING CORP immediately following Special Meeting in the Board Room Category 1. Call To Order Type Procedural File Attachments 2. Opening Comments Subject Comments Meeting Dec 6, 2023 - 6. SPECIAL MEETING for PALM BEACH COUNTY SCHOOL BOARD LEASING CORP immediately following Special Meeting in the Board Room Category 2. Opening Comments Type Information File Attachments 3. ITEM FOR APPROVAL Subject LC1 Annual Election of Officers Meeting Dec 6, 2023 - 6. SPECIAL MEETING for PALM BEACH COUNTY SCHOOL BOARD LEASING CORP immediately following Special Meeting in the Board Room Category 3. ITEM FOR APPROVAL Type Action Recommended Action I recommend the Palm Beach School Board Leasing Corp approve the slate of officers. DESCRIPTION: The Palm Beach School Board Leasing Corp is a Florida not-for-profit corporation that has as its sole member the School Board of Palm Beach County, Florida. The corporation facilitates the School District's lease purchase financing of school facilities, commonly referred to as COPs (or Certificates of Participation). A summary of the Palm Beach School Board Leasing Corp is attached. The bylaws of the Leasing Corp require an annual meeting of the Board of Directors to elect corporate officers. Palm Beach School Board Members or School District staff may be elected to serve as officers. The current officers are : President Frank A. Barbieri, Jr., Esq., School Board Chair Vice President Karen Brill, School Board Vice-Chair Secretary Michael J. Burke, Superintendent Asst. Secretary Heather Frederick, Chief Financial Officer Treasurer Leanne Evans, Treasurer The proposed officers are : President Karen Brill , School Board Chair Vice President Barbara McQuinn, School Board Vice-Chair Secretary Michael J. Burke, Superintendent Asst. Secretary Heather Frederick, Chief Financial Officer Treasurer Leanne Evans, Treasurer CONTACT: Heather Frederick, CFO (Heather.Frederick@palmbeachschools.org) Leanne Evans, Treasurer (Leanne.Evans@palmbeachschools.org) FINANCIAL IMPACT: None Strategic Themes (choose all that apply):  A. Academic Excellence and Growth  B. Student-Focused Culture  C. Mental Health and Wellness x D. Committed and Impactful Employees Priority Outcomes (choose all that apply):  Educate  Affirm  Inspire File Attachments Leasing Corp Summary 2023.pdf (321 KB) Motion & Voting I recommend the Palm Beach School Board Leasing Corp approve the slate of officers. Motion by Frank Barbieri, second by Alexandria Ayala. Final Resolution: Motion Passes Yea: Marcia Andrews, Alexandria Ayala, Frank Barbieri, Karen Brill, Barbara McQuinn, Erica Whitfield Subject LC2 COP 2020A Amendment Meeting Dec 6, 2023 - 6. SPECIAL MEETING for PALM BEACH COUNTY SCHOOL BOARD LEASING CORP immediately following Special Meeting in the Board Room Category 3. ITEM FOR APPROVAL Type Action Recommended Action I recommend the Palm Beach School Board Leasing Corp approve the resolution amending the project list of the 2020A COP issue. DESCRIPTION: On April 1, 2020 The School Board and the Palm Beach School Board Leasing Corp authorized the issuance of COP Series 2020A. The School Board subsequently issued the 2020A COP on May 12, 2020 to finance the construction of Addison Mizner K-8 Modernization, Citrus Cove ES Core Expansion, Plumosa School of Arts 6-8 Expansion, Verde K-8 Modernization, and Washington ES Modernization. The projects funded with the borrowing came in under budget. The residual funds were used to fund two other projects in the approved capital plan: Del Prado ES Core Expansion and Sandpiper Shores ES Core Expansion which were scheduled to be funded with a new debt issue. Utilizing the residual funds of the 2020A COP issue reduced future borrowings. This resolution amends the 2020A-2 Schedule of the Master Lease with the addition of the two projects. The School Board will consider a companion item during a special meeting on December 6, 2023. CONTACT: Heather Frederick, CFO (Heather.Frederick@palmbeachschools.org) Leanne Evans, Treasurer (Leanne.Evans@palmbeachschools.org) FINANCIAL IMPACT: n/a Strategic Themes (choose all that apply):  A. Academic Excellence and Growth  B. Student-Focused Culture  C. Mental Health and Wellness  D. Committed and Impactful Employees Priority Outcomes (choose all that apply): X Educate X Affirm X Inspire File Attachments Leasing Corp Resolution Amendment to 2020A-2 with attachment.pdf (825 KB) Motion & Voting I recommend the Palm Beach School Board Leasing Corp approve the resolution amending the project list of the 2020A COP issue. Motion by Frank Barbieri, second by Erica Whitfield. Final Resolution: Motion Passes Yea: Marcia Andrews, Alexandria Ayala, Frank Barbieri, Karen Brill, Barbara McQuinn, Erica Whitfield 4. ADJOURN Subject END TIME Meeting Dec 6, 2023 - 6. SPECIAL MEETING for PALM BEACH COUNTY SCHOOL BOARD LEASING CORP immediately following Special Meeting in the Board Room Category 4. ADJOURN Type Action Recommended Action Motion to adjourn the meeting. File Attachments Motion & Voting Motion to adjourn the meeting. Motion by Erica Whitfield, second by Marcia Andrews. Final Resolution: Motion Passes Yea: Marcia Andrews, Alexandria Ayala, Frank Barbieri, Karen Brill, Barbara McQuinn, Erica Whitfield