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Measure H did not pass on November 8, 2022. Without access to bond funds, to reconfigure campuses and consolidate student populations at higher grade levels – improving the quality of education provided to all students and resulting in gained efficiencies and corresponding cost savings – the District will need to finance facilities projects to increase classroom capacity at Argonaut High School. The proposed addition of a 10-classroom wing and student support facilities at Argonaut will allow for consolidation of Amador High School, placing all high school students in the County at a single campus. The District can finance $15 million of the facilities project costs utilizing Certificates of Participation (COP). Concurrently, the District will examine all facilities needs qualifying for potential State funding through the School Facilities Program (SFP) and, to the extent any of the components of the planned new classroom wing at Argonaut High School are eligible, the 2023 COP will provide matching funds for such SFP funds, in addition to providing the primary source of project funding. The proposed 2023 COP would provide up to $15 million for projects through an offering of public debt backed by a lease of District property. The proposed lease asset would be Amador High School, although it may be that an alternative site could be required pending title reports. The lease paid by the District would be structured to prepay interest for a period of 18 months, delaying the first ‘out-of-pocket’ payment until after projects have be completed. It is estimated that annual lease repayments of $1,245,000 per year will be required for approximately 18.5 years after prepaid interest is exhausted. Such payments can be made from any legally available resource and are a pledge of the District’s General Fund. The consolidation is projected to generate annual savings of $1,300,000 in 2022-23 dollars, and should grow with annual cost inflation, mitigating the impact of 2023 COP repayments. Additionally, District staff believe the cost of repayment can be accommodated in future budgets. The action to approve the 2023 COP allows for up to $16.75 million in principal amount for the 2023 COP to accommodate a reserve fund, issuance costs and prepaid (or “capitalized”) interest. Depending on market dynamics and the desired redemption provisions for the 2023 COPs, the District may be able to generate additional premiums on the sale of the 2023 COP and reduce the principal amount; however, either way this will ultimately have little impact of the actual repayment requirement amounts. Furthermore, action to approve the issuance of the 2023 COP does not commit the District to an issuance, but does authorize continuation of the issuance process. Resolution – PDF

Notice of Preparation – School Closure/Consolidation Program Project This NOP has been completed. The purpose of this NOP is to serve as a public notice that an Environmental Impact Report (EIR) will be prepared and to advise and solicit comments and suggestions regarding the scope and content of the EIR. Notice of Preparation – PDF Questions and comments were emailed to CEQAcomments@acusd.org or to the mailing address listed on page 5 of the NOP.  The review period was Wednesday, June 21st through Thursday, July 20th.