BOND OVERSIGHT COMMITTEE

Unapproved Minutes of the April 14, 2009 meeting

Call to order at 6:10pm.

Present:

Committee Members: Marvin Morganti, Rolito Recio, Bob McLennan, HerbMinnichhofer

Staff: Michael Crilly – Superintendent, Steven Fuentes, Associate Superintendent – Business Services, Robert Devine – Bond Project Manager

Minutes of the November 17, 2008 meeting were reviewed.

Steven Fuentes explained that the one year term of Bob McLennan had expired in December 2008. The district advertised for the two open positions, a business representative and a taxpayer association representative. Mr. McLennan reapplied and also Herb Minnichhofer. Mr. Crilly presented both names to the governing board. The governing board appointed both to serve on the committee for a two year term. Mr. Fuentes asked if Mr. Morganti would continue on as Vice chair. He accepted.

Robert Devine reviewed the bond project status update. The update is also available on the district’s web site.

Mr. Fuentes reviewed the bond expenditures update as of March 31, 2009. He explained that the district is also in the process if selling the next series of bonds. Currently, they expect to sell $40,000,000. Mr. Fuentes also explained that they are working with bond financial consultants to ascertain what federal funding may be available to increase the funds available to the district for bond projects.

The meeting was adjourned at 7:00pm.

Respectfully submitted,

Steven R. Fuentes

Associate Superintendent

Business Services