DOUGLAS COUNTY SCHOOL DISTRICT

Aspen View AcademyRequest for COP, Property

Board of Education MeetingTuesday, June 19, 2012

Pat McGraw, Development and Innovation Officer

Bill Moffitt, Chief Operating Officer

DOUGLAS COUNTY SCHOOL DISTRICT

AVA Request for Certificate of Participation

Up to $15.5 million dollars

11.70 M – 13.20 M Building Fund

.80 – 1.1 M 1st Year’s Principal & Interest

.80 – 1.1 M One Year Principal & Interest Reserve

.25 - .35 M Cost of Issuance

DOUGLAS COUNTY SCHOOL DISTRICT

2012 Certificates of Participation Parameters Resolution

a. Total principal amount of rental payments to be received by the District from the Trustee under the Site Lease shall not be less than $12 M

b. Site Lease Term shall not exceed the Lease Term by more than 10 years

c. Aggregate principal amount of the base rentals shall not exceed $15.5 M

d. Lease term shall end no later than June 30, 2037

e. Lease shall be subject to prepayment at the option of the District no later than January 15, 2023 without prepayment penalty

f. Purchase price of Certificates shall not be less than 98%

g. Maximum amount of the base rentals payable in any year shall not exceed $1.5 M

h. Maximum net effective interest rate on the interest component of the base rentals shall not exceed 5.00%

DOUGLAS COUNTY SCHOOL DISTRICT

AVA Request for Property

Low Meadows Filing #18

• Long Range Planning Recommendation

DOUGLAS COUNTY SCHOOL DISTRICT

Staff Recommendation

Conditional approval for both the COP and Property Requests.

DOUGLAS COUNTY SCHOOL DISTRICT

Staff Conditions for Approval

Aspen View Academy partners with the Douglas County School District to address capacity concerns utilizing a weighted lottery, consulting on an annual basis.

All Aspen View Academy facility plans will be reviewed and approved by DCSD staff and appropriate governmental entities as applicable.

Douglas County School District will retain ownership of the property.

DOUGLAS COUNTY SCHOOL DISTRICT

Questions