Q: Am I obligated to issue a TRAN after I adopt a resolution?

A: No. The resolution authorizes the District’s staff to make the decision of whether to issue based on the anticipated need. Although the adoption of the Program resolution does not obligate the district to issue a note, it does indicate the district’s intent to issue a note through the Program.

Q: If another District in this Program fails to repay its note, what effect would this have on my District?

A: Absolutely none. The structure utilized by the Cash Reserve Program does not rely upon "shared liability" to achieve the highest credit rating. No district in the Program is affected by any other district’s actions.

Q: Do I need to go through a complex rating process for my District in order to qualify for the Program?

A: No. The Program takes care of the credit process once you have supplied us with the necessary financial documents.