CCD Citizens’ Bond Oversight Committee
Proposition 39 requires community college districts that pass Prop 39 bonds to seat a Citizens’ Bond Oversight Committee (CBOC) to assure the community that bond funds are expended in the fashion outlined in the district’s bond resolution. The CBOC must inform the public about the expenditure of bond revenue and actively review and report on the proper expenditure of taxpayers’ money for construction.
In May 2018 the YCCD Governing Board approved the appointments of five of the required seven CBOC members. The newly appointed members met in July for an orientation of their duties and to review current projects utilizing Measure J and Q bond funds. Series D Measure J Bond funds were sold in April 2016 for $26.5 million and the balance of Measure J funds were refunded under Measure Q in November 2016 for $33.5 million. Measure Q bonds have not been sold.
The CBOC, which is required to meet only once a year, will meet again in January 2019 to continue review of current bond-funded projects and begin development of the required annual report for Governing Board approval. Once major construction utilizing bond funds begins, the CBOC will meet more frequently.