School Board Foundation - Special Meeting

Motion passes. So I call now the Miami-Dade County School Board Foundation meeting to order. The board acknowledged that pursuant to Article 2, Section 9 of the bylaws of the foundation, the chairperson of the school board shall serve as the chairperson of the board of directors of the foundation, and the vice chairperson of the school board shall serve as the vice chairperson of the board of directors for the foundation. I need a motion to elect the superintendent of schools as president and secretary of the foundation. All right, do I have a second? Did I hear a second? Yes, thank you. All in favor say aye.

Aye.

Any opposed nay? Seeing none, motion passes. I need a motion to elect the chief financial officer, that's financial services, and the vice president and treasurer of the foundation. I have a motion. All in favor?

Aye.

Any opposed say nay. Seeing none, motion passes. I need a motion to elect a treasurer and an assistant secretary of the foundation. Do I have a motion? Do we have a name? Moved, all right. Madam Chair, is there a name? I'm sorry?

I have a question. Is there a name of who we're electing?

No, I don't have a name. Right now I'm asking for the approval to get this done. Do I have a second?

Second.

All in favor?

Aye.

Any opposed nay? But thank you, motion passes. I need a motion to approve resolution 25-055 with respect to the issuance of $400 million of refunding certificates of participation COPS to refund all or a portion of the series 2015-D, 2016-A, 2016-B and 2016 C, cops. And if you'd like further explanation on that, I will ask someone who would like to address it at this time. So moved. Okay. Would you like explanation? Is that what I'm hearing? Or are we just approving that?

No, I'm happy to move. Just a point of clarification. I mean, I know that was an agenda item for our board. How is that correlative to the foundation?

Mr. Attorney, sir, please respond.

I'm sorry, so you're referring to the agenda for the foundation? Yeah. Okay, so that was published and advertised with regard to the items that the chair has gone through today at the board meeting. So typically every year there's an election of new officers for the foundation.

I'm sorry, just a point of clarification. It was just on the topic of the refund of... Which is an agenda item for our board meeting, but it's also an agenda item for the foundation meeting?

Yes.

Yes. See, if I can get an explanation on that, Madam Chair, because that escaped me in my briefings.

Yes. May I ask if the board attorney, is it my understanding, Mr. Attorney, through the chair, is it my understanding, Mr. Attorney, that the foundation has to approve it prior to the board's voting to approve it, has to go through that intermediate step?

Through the chair, yes. The foundation and the cops, they're approved by the foundation board. The foundation board is a separate entity. So, yes, it has to be done separately.

Okay, are we?

And under the bylaws, the board sits as the board for the foundation, the superintendent sits as the president, the chair also serves on the foundation board, as well as the CFO, which is the treasurer. So that has to be elected, that has to be voted upon every year, once a year.

All right, do I have now a motion for number seven, which is the motion to approve resolution number 25-055? So moved. Do I have a second? All in favor say aye.

Aye.

Any opposed, nay. Thank you, motion passes. There being no further business to discuss, I need a motion to adjourn the meeting of the Miami-Dade County School Board Foundation, Inc. May I have a motion? A second?

Second.

All in favor, aye. Any opposed, nay. Motion passes. I need a motion now to reconvene the regular session of the board meeting.