Los Gatos Weekly-Times Oversight committee is chosen By Michelle Alaimo Seven community members have been chosen by the Los Gatos-Saratoga Joint Union High School board to serve on a Citizens Oversight Committee. The committee--made up of members from Saratoga, Los Gatos and Monte Sereno--will oversee $79 million in bond money approved by voters in June. Shirley Cantu, Hal Chase, Carlton Horine, Carolyn King, Warren Lampshire, Tony Silveria and Lorine Tetzlaff were chosen from 25 applicants at the board's Oct. 6 meeting. Superintendent Cynthia Ranii said the seven were chosen based on their expertise in finance, accounting and project management. Four members are from Los Gatos, two from Saratoga and one from Monte Sereno. Four of the members will serve a term of three years, and the other three will serve a term of two years. Committee members will determine their terms at a meeting later this month. The committee will review financial plans to make sure local and state funds are applied to the district's facility plans, and they will give a progress report to the board at least twice a year. Ranii said she expects the first $20 million issue of the bond sometime in November. The bond was recently rated Aa2 by Moody's Investors Service and AA by Standard & Poor's Corporation. Ranii said no other school district in California has higher ratings. According to Ranii, the rating agencies were impressed with the high wealth levels and low debt levels of area residents. The first $20 million of the general obligation bonds were put up for sale Oct. 6. By 10 a.m. that morning, 60 percent had been sold, Ranii said. She anticipates the other 40 percent will be sold by Oct. 21. [ Back to Contents Page | Los Gatos Weekly-Times Home Page | Archives ] This article appeared in the Los Gatos Weekly-Times, October 21, 1998. ©1998 Metro Publishing, Inc. All rights reserved.