THE STATE EDUCATION DEPARTMENT / THE UNIVERSITY OF THE STATE OF NEW YORK / ALBANY, NY 12234

 

TO:	The Honorable the Members of the Board of Regents
FROM:	James A. Kadamus
SUBJECT:	Petition of the Batavia City School District for Consent to Exceed the Constitutional Debt Limit
DATE:	December 16, 2005
STRATEGIC GOAL:	Goal 2
AUTHORIZATION(S):

 

SUMMARY

 

 

Issue for Decision (Consent Agenda)

 

          Should the Regents consent to allow the Batavia City School District to increase the indebtedness of the school district under the provisions of the State Constitution and the Local Finance Law?

 

Reason(s) for Consideration

 

          State Constitution Article 8, section 4, paragraph (h)   

Local Finance Law section 104.00(c)

 

Proposed Handling

 

          This question will come before the Regents EMSC-VESID Committee on January 9, 2006 for action.  It will then come before the full Board for final action on January 10, 2006.

 

Procedural History

 

          The Board of Regents is required to give consent for such petitions prior to the petitions being forwarded to the State Comptroller for final consideration.  The Regents EMSC-VESID Committee has discussed and approved similar requests in the past from school districts to exceed their debt limit and is familiar with the guidelines and procedures for granting consent.

 

Background Information

 

          The Department received a petition from the Board of Education of the Batavia City School District seeking consent of the Board of Regents to an increase in the indebtedness of the district.  Any increase in the constitutional limit on local indebtedness for a school district wholly or partially within a city of less than 125,000 inhabitants must receive: (1) the approving vote of 60 percent or more of the duly qualified voters; (2) the consent of the Regents; and (3) the consent of the State Comptroller.  It appears from the records of the State Education Department that the school district lies within the City of Batavia.  The documentation supporting the petition verifies that more than 60 percent of duly qualified voters approved the increase at the annual election held on May 17, 2005.  The increase in indebtedness will be used to undertake the reconstruction and renovation of the Richmond Memorial Library and the Middle School.  Staff has reviewed the petition and supporting documentation and recommend that the requested consent be granted.

 

Recommendation

 

          VOTED:  That the Board of Regents hereby give consent to the issuance of bonds and/or bond anticipation notes by the Board of Education of the Batavia City School District in an amount not to exceed $14,365,800 to undertake the reconstruction and renovation of the Richmond Memorial Library and the Middle School and the issuance of such bonds and/or bond anticipation notes in excess of the constitutional debt limit of said school district.

 

Timetable for Implementation

 

          Upon consent of the Board of Regents, the petition will be forwarded to the State Comptroller for final consideration.