HomeMy WebLinkAbout2018 - Ferndale School District No. 502 Prop 2018-7 Genera; Obligation Bonds $112,000,000 - General Election Novemeber 06, 2018Whatcom County
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Auditor's Office
Whatcom County Courthouse
311 Grand Avenue, Suite 103
Bellingham, WA 98225-4038
Phone: (360) 778-5100
Fax: (360)778-5101
Email: auditor@co.whatcom.wa.us
Internet: www.whatcomcounty.uslauditor
ELECTION RESULTS RECEIPT
Debbie Adelstein
County Auditor
Diana Bradrick
Chief Deputy Auditor
Copies of Ferndale School District 502, Proposition 2018-7, General Obligation Bonds -
$112,000,000, election results from the November 6, 2018 General Election, have been
delivered to the Assessor's and Treasurer's Office.
Receipt Acknowledged:
ASSESSOR'S OFFICE:
C u i l- Z-`s " 4
Name 0 0 6 Date
TREASURER'S OFFICE:
Name Date
Licensing Recording Elections Administration
Licensing@co.whatcom.wa.us Recording@comhatcornma.us Elections@co.whatcom.wa.us Auditor@co.whatcom.wa.us We gladly accept
360-778-5100 360-778-5100 360-778-5102 360-778-5105 relay calls.
Statement of Votes Cast by Geography Page: 1 of 1
Whatcom County, Washington, November 6 2018 General, Nov 06, 2018 2018-11-27
All Precincts, All Districts, All ScanStations, Fer Sch Pro 2018-7 General Obligation Bonds - 11:37:49
$112,000,000, All Boxes
Total Ballots Cast: 16171, Reqistered Voters: 143265, Overall Turnout: 11.29%
Choice Votes Vote %
All Precincts
Fer Sch Pro 2018-7 General Obligation Bonds - $112,000,000 (Vote for 1)
16171 ballots (1 over voted ballots, 1 overvotes, 946 blank voted), 21742 registered voters, turnout 74.38%
Approved 8927 58.64%
Rejected 6297 41.36%
Total 15224 100.00%
STATE OF WASHINGTON )
) ss
COUNTY OF WHATCOM )
This is to certify that on November 6, 2018, there was held a special election in Ferndale School District
502, Whatcom County, Washington, for the submission of a ballot measure to the voters for their approval
or rejection;
That the results of the election were duly canvassed by the Whatcom County Canvassing Board on
November 27, 2018, and the results of said canvass are as reads above.
Dated this 27'" day of November, 2018, Bellingham, Whatcom County, Washington,
Debbie Adelstein
County Auditor
Section 5. Election. It is hereby found and declared that the best interests of the
District requires the submission to the qualified electors of the District of the proposition of
whether the District shall issue the Bonds at a special election to be held on November 6, 2018.
The Whatcom County Auditor as ex ofcio supervisor of elections is hereby requested also to
call and conduct the special election to be held within the District and to submit to the qualified
electors of the District the proposition set forth below. The Secretary of the Board is hereby
authorized and directed to certify the proposition to said officials in the following form:
FERNDALE SCHOOL DISTRICT02
�l�0�05 moil of U I � _ rl
GENERAL OBLIGATION BONDS - $112,000,000
The Board of Directors of Ferndale School District Ai 502
adopted Resolution No. 5-2018 authorizing bonds to fund several
capital projects. This proposition authorizes the District to
(1) construct and equip a new high school facility to replace the 10,
existing Ferndale High School, modernize the Performing Arts :9
Center and provide for District -wide critical maintenance, safety 0
and security needs including controlled building access and LED 9
security lighting; (2) issue $112,000,000 of general obligation g
bonds maturing within a maximum of22 years, and (3) levy excess 1('�
property taxes annually to repay the bonds, as provided in 1 D
Resolution #5-2018. Should this proposition be: % /,
APPROVED.......................................................................................... ❑
REJECTED.......................................................................................... ❑
The Secretary of the Board of Directors is hereby authorized to deliver a certified copy of
this resolution to the Whatcom County Auditor.
Section 6. Notices relating to Ballot Title. For purposes of receiving notice of the
exact language of the ballot title required by RCW 29A.36.080, the Board hereby designates the
(a) Assistant Superintendent for Business & Support Services (Mark Deebach), telephone: 360-
-5- PA20287 CWA20287 CO2 06/21/18
WHATCOM COUNTY PROSECUTING ATTORNEY
DAVID S. MCEACHRAN
CHIEF CRIMINAL DEPUTY
Mac D. Setter
ASST. CHIEF CRIMINAL DEPUTY
Warren J. Page
CRIMINAL DEPUTIES
Craig D. Chambers
Elizabeth L. Gallery
David A. Graham
Eric J. Richey
James T. Hulbert
Ann L. Stodola
Jeffrey D. Sawyer
Anna Gigliotti
Shannon Connor
Christopher D. Quinn
David E. Freeman
Kari Hathorn
Kyle Moore
Dona Bracke
Kristen Reid
Whatcom County Courthouse
311 Grand Avenue, Second Floor
Bellingham, Washington 98225-4079
(360) 676-6784 / FAX (360) 738-2532
COUNTY (360) 398-1310
RECEIVED
AUG 2 2 201E
DEBBIE ADEI-STEIN
WHATCOM COUNTY AUDITOR
CHIEF CIVIL DEPUTY
Randall J. Watts
ASST CHIEF CIVIL DEPUTY
Daniel L. Gibson
CIVIL DEPUTIES
Karen L. Frakes
Royce Buckingham
CIVIL SUPPORT
ENFORCEMENT DEPUTIES
Angela A. Cuevas
Dionne M. Clasen
APPELLATE DEPUTIES
Kimberly Thulin
Hilary A. Thomas
ADMINISTRATOR
Kathy Walker
Date: August 10, 2018
To: Debbie Adelstein, Diana Bradrick
cc: Mark Deebach, Dr. Linda Quinn, Cynthia Weed
RE: Ferndale School District Prop. 2018-7 (General Obligation Bonds $112,000,000.)
Dear Debbie,
I have reviewed the proposed Explanatory Statement language in the above proposition, and I must reject
it as submitted, as it does not make clear that taxpayers will repay the amount borrowed through new
annual levies. I am including minor changes that clarify the Explanatory Statement:
Passage of Proposition 2018-7 would allow Ferndale School District 502 to borrow
$112,000,000 by issuing general obligation bonds. In accordance with Resolution No. 5-
2018 approving this proposition, the bonds would pay for planning, constructing, and
equipping a new high school facility to replace Ferndale High School; modernizing the
Performing Arts Center; and providing for various projects across the district such as
controlled building access, exterior lighting, security fencing, critical maintenance
upgrades, water tanks, roofing, fire panels, and security systems. The bonds wat 1.1 be
d eote The S 112, 000.000 in bonds would be repaid throe new annual property
tax levies over a period of up to 22 years.
Per our administrative rules, these changes must be discussed with the district prior to final approval. To
that end, this memorandum has been forwarded to district contact person #1 and #2 from the ballot
measure cover sheet and the district's attorney. The district may contact me for further discussion. The
district may also appeal this rejection to superior court within five (5) business days. If no further action is
taken by August 17, 2018, this version shall be deemed final.
Sincerely,
Royce Buckingham
Attorney for Whatcom County
iMc",�� Ballot Measure Cover Sheet
A completed cover sheet must accompany each ballot measure submitted to the Whatcom
314 County Auditor. It is the submitter's responsibility to ensure that requested documentation is
presented no later than the resolution deadline date.
This form is available in a fillable form on the Auditor's website: www.whatcomcounty.us/auditor.
District Information
District Name: Ferndale School District No. 502
District Address: 6041 Vista Drive, Ferndale, WA 98248
Contact Person 1 1 Contact Person 2
Mark Deebach, Assistant Superintendent for Business & Support Services
Name & Title
(360) 383-9203 mark.deebach@ferndalesd.org
Phone & email
Cynthia Weed
Name
cynthia.weed@klgates.com
Phone & email
Dr. Linda Quinn, Superintendent
Name & Tide
(360) 383-9207 linda.quinn@ferndalesd.org
Phone & email
Has your attorney prepared this ballot measure?
0✓ Yes ❑ No
Type of Election: Bond
(e.g., Levy, Bond, Levy Lid Lift, etc.)
Pass/Fail requirement(s) for the measure as Applicable Statutory References:
determined by the District's Attorney: Article VII Section 2(b) of the Washington Constitution, RCW
60% 28A.530.010, RCW 28A.530.020, RCW 39.36.050 and RCW 84.52.056
(e.g., Simple Majority, 60% Minimum Turnout, etc.)
0
Attached the Resolution with original signatures or certified ❑f Yes ONo
copy of the original Resolution?
Attached the Explanatory Statement (not to exceed 100 words) Yes No
for the Local Voters' Pamphlet prepared by your attorney?
Attached the 'For" and "Against' Committee Appointment Yes ❑ No
Forms? U0 Comm. A14WST - •[iLsr okabF op T
Completed this cover sheet? Z Yes No
RECEIVED
AUG 2 2018
DEBBIE ADELSTEIN
WHATCOM COUNTY AUDITOR
Missing document(s):
I understand that the submittal deadline date for the
missing documents is and the
Auditor's Office will not begin processing this ballot
measur until all documents have been submitted.
LWlit��. I a,'v]
9epy4y A�ditor's Signature
Presenters Signat rje 1 U
V Revised 3/13/2017
RECEIVED
AUG 2 2018
DEBBIE ADELSTEIN
WHATCOM COUNTY AUDITOR
FERNDALE SCHOOL DISTRICT NO. 502
W1 ATCOM COUNTY, WASHINGTON
GENERAL OBLIGATION BONDS
RESOLUTION NO. 5-2018
A RESOLUTION of the Board of Directors of Ferndale School
District No. 502, Whatcom County, Washington, providing for the
form of the ballot proposition and specifying certain other details
concerning submission to the qualified electors of the district at a
special election to be held therein on November 6, 2018, of a
proposition for the issuance of its general obligation bonds in the
aggregate principal amount of $112,000,000, or so much thereof as
may be issued under the laws governing the indebtedness of school
districts for the purpose of providing funds for the renovation,
upgrade and new construction of school facilities, and authorizing
the Superintendent and/or Assistant Superintendent for Business
and Operations to submit a request for eligibility for the
Washington State School District Credit Enhancement Program.
ADOPTED JUNE 26, 2018
PREPARED BY:
K&L GATES LLP
Seattle, Washington
FERNDALE SCHOOL DISTRICT NO. 502
RESOLUTION NO. 5-2018
TABLE OF CONTENTS *
Page
Recitals..........................................................................................................................................1
Section1.
Findings.................................................................................................................2
Section 2.
Capital Improvements...........................................................................................2
Section 3.
Authorization of Bonds.........................................................................................
3
Section4.
Details of Bonds.................................................................................................... 4
Section5.
Election.................................................................................................................
5
Section 6.
Notices Relating to Ballot Title............................................................................
5
Section 7.
Request for Eligibility for the Credit Enhancement Program ...............................
6
Section8.
Severability...........................................................................................................
6
Section9.
Effective Date.......................................................................................................
7
* This table of contents and the cover page are not a part of this resolution; they are included
for convenience of the reader only.
-i- P:W287 CMVV\20287 CO2 06/21/18
RESOLUTION NO. 5-2018
A RESOLUTION of the Board of Directors of Ferndale School
District No. 502, Whatcom County, Washington, providing for the
form of the ballot proposition and specifying certain other details
concerning submission to the qualified electors of the district at a
special election to be held therein on November 6, 2018, of a
proposition for the issuance of its general obligation bonds in the
aggregate principal amount of $112,000,000, or so much thereof as
may be issued under the laws governing the indebtedness of school
districts for the purpose of providing funds for the renovation,
upgrade and new construction of school facilities, and authorizing
the Superintendent and/or Assistant Superintendent for Business
and Operations to submit a request for eligibility for the
Washington State School District Credit Enhancement Program.
WHEREAS, improved facilities are needed in Ferndale School District No.502,
Whatcom County, Washington (the "District") in order to provide the students of the District
with safe, adequate and efficient educational facilities; and
WHEREAS, in order to provide all or a part of the funds to enable the District to
undertake its needed capital improvement program, it is deemed necessary and advisable that the
District issue and sell its unlimited tax general obligation bonds to provide funds for such
purposes; and
WHEREAS, the Constitution and laws of the State of Washington provide that the
question of whether or not such bonds may be issued and sold for such purposes must be
submitted to the qualified electors of the District for their ratification or rejection; and
WHEREAS, in RCW ch. 39.98 (the "Credit Enhancement Act"), the State Legislature
established a credit enhancement program (the "Program") for voter -approved school district
general obligation bonds; and
WHEREAS, Section 39.98.040 of the Credit Enhancement Act authorizes the state
treasurer to make a determination that a school district is eligible for participation in the Program
if the state treasurer determines that the District is eligible under rules adopted by the state
finance committee; and
WHEREAS, the District may elect to participate in the Program upon an administrative
determination that it is cost-effective;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
FERNDALE SCHOOL DISTRICT NO.502, WHATCOM COUNTY, WASHINGTON, as
follows:
Section 1. Findin s. This Board of Directors (the "Board") hereby finds and declares
that the best interest of the students and other inhabitants of the District require the District to
carry out the plans hereinafter provided at the time or times and in the order deemed most
necessary and advisable by the Board.
Section 2. Capital Improvements. The District shall make the following capital
improvements (the "Improvements"):
• Construct and equip a new high school to replace Ferndale High School;
• Modernize and upgrade the Performing Arts Center at Ferndale High
School, to include sound, light, stage curtain, HVAC and technology
systems and repurpose classrooms for design and storage space; and
• Provide for Safety and Security projects throughout the District, to include
controlled access doors for each building and reconfiguration of entrances
as needed for controlled access, exterior LED lighting and additional
security fencing for buildings as necessary; and
• Provide for critical major maintenance needs to include District -wide
upgrades, repairs and replacements to include HVAC controls, digital data
-2- PA20287 CMVN20287 CO2 06/21/18
controls, water tanks, roofing, fire panels and safety and security systems.
The cost of all necessary planning, architectural, engineering, and other consulting
services, inspection and testing, administrative and relocation expenses, on and off -site utilities,
related improvements and other costs incurred in connection with the making of the foregoing
capital improvements shall be deemed a part of the costs of the Improvements. Such
Improvements shall include all necessary furniture, equipment and appurtenances.
If available funds are sufficient from the proceeds of the general obligation bonds herein
authorized in Section 3 for the above purposes (the "Bonds"), the District may use such funds to
acquire sites for facilities of the District or to pay the principal of or interest on the Bonds, In the
alternative, if available funds are sufficient from the proceeds of Bonds authorized for the above
purposes and/or state and local circumstances require, the District may use such funds to acquire,
construct, equip, modernize and make other capital improvements to the facilities of the District,
all as the -Board of Directors may determine, after holding a public hearing thereon pursuant to
RCW 28A.530.020.
It is anticipated that the District may receive funds from the State of Washington (the
"State") pursuant to Chapter 28A.525 RCW. The District intends to apply such funds to the
completion of the Improvements described in Section 2 and if not required for those purposes,
then to pay principal of and/or interest on the Bonds. Such funds may also be used to make other
capital improvements to the facilities of the District, but only after holding a public hearing
thereon pursuant to RCW 28A.530.020.
Section 3. Authorization of Bonds. For the purpose of providing all or a part of the
funds necessary to pay the cost of the Improvements, together with incidental costs and costs
related to the sale and issuance of the Bonds, the District shall issue and sell its Bonds which
-3- PA20287 CMVN20287 CO2 06/21/18
shall be unlimited tax general obligation bonds in the principal amount of not to exceed
$112,000,000. The balance of the cost of the Improvements shall be paid with funds received
from the State or out of any money which the District now has or may later have on hand which
are legally available for such purposes. None of said Bond proceeds shall be used for the
replacement of equipment or for any other than a capital purpose. The Bonds shall be issued in
an amount not exceeding the amount approved by the qualified electors of the District as
required by the Constitution and laws of the State or exceeding the amount permitted by the
Constitution and laws of the State.
Section 4. Details of Bonds. The Bonds provided for in Section 3 hereof shall be
sold in such amounts and at such time or times as deemed necessary and advisable by this Board
and as permitted by law, shall bear interest at a rate or rates not to exceed the maximum rate
permitted by law at the time the bonds are sold, and shall mature in such amounts and at such
times within a maximum term of twenty two (22) years from date of issue, but may mature at an
earlier date or dates, as authorized by this Board and as provided by law. The Bonds shall be
general obligations of the District and, unless paid from other sources, both principal thereof and
interest thereon (including original issue discount) shall be payable out of annual tax levies to be
made upon all the taxable property within the District without limitation as to rate or amount and
in excess of any constitutional or statutory tax limitations. The exact date, form, terms and
maturities of the Bonds shall be as hereafter fixed by resolution of the Board. After voter
approval of the Bond proposition described in Section 5 and in anticipation of the issuance of the
Bonds, the District may issue short term obligations as authorized and provided by Chapter 39.50
RCW.
-4- P:\20287-CMVIA20287-CO2 06121118
Section 5. Election. It is hereby found and declared that the best interests of the
District requires the submission to the qualified electors of the District of the proposition of
whether the District shall issue the Bonds at a special election to be held on November 6, 2018.
The Whatcom County Auditor as ex officio supervisor of elections is hereby requested also to
call and conduct the special election to be held within the District and to submit to the qualified
electors of the District the proposition set forth below. The Secretary of the Board is hereby
authorized and directed to certify the proposition to said officials in the following form:
PROPOSITION NO. 1
FERNDALE SCHOOL DISTRICT NO. 502
GENERAL OBLIGATION BONDS - $112,000,000
The Board of Directors of Ferndale School District No.502
adopted Resolution No. 5-2018 authorizing bonds to fund several
capital projects. This proposition authorizes the District to
(1) construct and equip a new high school facility to replace the
existing Ferndale High School, modernize the Performing Arts
Center and provide for District -wide critical maintenance, safety
and security needs including controlled building access and LED
security lighting; (2) issue $112,000,000 of general obligation
bonds maturing within a maximum of 22 years, and (3) levy excess
property taxes annually to repay the bonds, as provided in
Resolution #5-2018. Should this proposition be:
APPROVED.......................................................................................... ❑
REJECTED............................................................................................ ❑
The Secretary of the Board of Directors is hereby authorized to deliver a certified copy of
this resolution to the Whatcom County Auditor.
Section 6. Notices relating to Ballot Title. For purposes of receiving notice of the
exact language of the ballot title required by RCW 29A.36.080, the Board hereby designates the
(a) Assistant Superintendent for Business & Support Services (Mark Deebach), telephone: 360-
-5- PA20287 CWA20287-0O2 06121/18
383-9203; fax: 360-383-9201; email: mark.deebach@femdalesd.org, and (b) bond counsel, K&L
Gates LLP (Cynthia Weed), telephone: 206.370.7801; fax: 206.370.6201; email:
cynthia.weed@klgates.com, as the individuals to whom the Whatcom County Auditor shall
provide such notice. The Secretary of the Board is authorized to approve changes to the ballot
title, if any, deemed necessary by the Whatcom County Auditor or the Office of the Whatcom
County Prosecuting Attorney.
Section 7. Request for Eligibility for the Credit Enhancement Program. In
preparation for the issuance and sale of the Bonds after approval by the voters, the Board hereby
requests that the State Treasurer issue a certificate of eligibility in favor of the District for
participation by the District in the Program with respect to the Bonds. The Superintendent
and/or Assistant Superintendent for Business and Operations is hereby authorized (following
voter approval) to submit such applications, resolutions and certifications as shall be required by
the State Treasurer in reviewing the District's request for participation.
Section 8. Severability. In the event that any provision of this resolution shall be
held to be invalid, such invalidity shall not affect or invalidate any other provision of this
resolution or the Bonds, but they shall be construed and enforced as if such invalid provision had
not been contained herein; provided, however, that any provision which shall for any reason be
held by reason of its extent to be invalid shall be deemed to be in effect to the extent permitted
by law.
-6- PA20287 CMW120287 CO2 060118
Section 9. Effective Date. This resolution shall become effective immediately upon
its adoption.
ADOPTED by the Board of Directors of Ferndale School District No. 502, Whatcom
County, Washington, at a regular meeting held this 26th day of June, 2018.
ATTEST:
of the Board of Directors
FERNDALE SCHOOL DISTRICT NO. 502,
TCOM COUNTY, WA IN TON
jJI—C '� V
Directors
-7- P920287 CMWt20287 CO2 06/21/18
CERTIFICATE
I, the undersigned, Secretary of the Board of Directors of Ferndale School District
No. 502, Whatcom County, Washington (the "District"), and keeper of the records of the Board
of Directors (the "Board"), DO HEREBY CERTIFY:
1. That the attached resolution is a true and correct copy of Resolution No. 5-2018
of the Board (herein called the "Resolution"), duly adopted at a regular meeting thereof held on
the 26th day of June, 2018.
2. That said meeting was duly convened and held in all respects in accordance with
law, and to the extent required by law, due and proper notice of such meeting was given; that a
legal quorum was present throughout the meeting and a legally sufficient number of members of
the Board voted in the proper manner for the adoption of said Resolution; that all other
requirements and proceedings incident to the proper adoption of said Resolution have been duly
fulfilled, carried out and otherwise observed; and that I am authorized to execute this certificate.
IN WITNESS WHEREOF, I have hereunto set my hand this 26th day of June, 2018.
Sec eta y of the o of Directors
PA20287 CMV\A20287 CO2 06/21/18
OFFICIAL BALLOT
FERNDALE SCHOOL DISTRICT NO. 502
WHATCOM COUNTY, WASHINGTON
November 6, 2018
INSTRUCTIONS TO VOTERS: To vote in favor of the following proposition, place a
cross (X) in the square opposite the word "APPROVED"; to vote against the following
proposition, place a cross in the square opposite the word "REJECTED."
PROPOSITION NO. 1
FERNDALE SCHOOL DISTRICT NO. 502
GENERAL OBLIGATION BONDS - $112,000,000
The Board of Directors of Ferndale School District No. 502
adopted Resolution No. 5-2018 authorizing bonds to fund several
capital projects. This proposition authorizes the District to
(1) construct and equip a new high school facility to replace the
existing Ferndale High School, modernize the Performing Arts
Center and provide for District -wide critical maintenance, safety
and security needs including controlled building access and LED
security lighting; (2) issue $112,000,000 of general obligation
bonds maturing within a maximum of 22 years, and (3) levy excess
property taxes annually to repay the bonds, as provided in
Resolution #5-2018. Should this proposition be:
APPROVED
REJECTED .............................
......................... ❑
................ I............ ❑
P.V0287 CMWQ0287_CO2 06/21/18
NOTICE OF SPECIAL ELECTION
FERNDALE SCHOOL DISTRICT NO. 502
WHATCOM COUNTY, WASHINGTON
November 6, 2018
NOTICE IS HEREBY GIVEN that on Tuesday, November 6, 2018, a special election
will be held in the above -named school district for the submission to the qualified electors of said
School district of the following proposition:
PROPOSITION NO. 1
FERNDALE SCHOOL DISTRICT NO. 502
GENERAL OBLIGATION BONDS - $112,000,000
The Board of Directors of Ferndale School District No. 502
adopted Resolution No. 5-2018 authorizing bonds to fund several
capital projects. This proposition authorizes the District to
(1) construct and equip a new high school facility to replace the
existing Ferndale High School, modernize the Performing Arts
Center and provide for District -wide critical maintenance, safety
and security needs including controlled building access and LED
security lighting; (2) issue $112,000,000 of general obligation
bonds maturing within a maximum of 22 years, and (3) levy excess
property taxes annually to repay the bonds, as provided in
Resolution #5-2018. Should this proposition be:
APPROVED.......................................................................................... ❑
REJECTED............................................................................................ ❑
Whatcom County Auditor
PA20287 CM1M20287 CO2 06/21/18
r-.
Election Date: November 6, 2018
Name of Jurisdiction Submitting Measure: Ferndale School District No. 502, Whatcom
County, Washington
Contact Name: Cynthia Weed
Daytime Contact Phone Number: 206-623-7580
EXPLANATORY STATEMENT - PROPOSITION NO. 1
Passage of Proposition No. 1 would allow Ferndale School District No. 502 to borrow
$112,000,000 by issuing general obligation bonds. In accordance with Resolution No. 5-2018
approving this proposition, the bonds will pay for planning, constructing, and equipping a new
high school facility to replace Ferndale High School; modernizing the Performing Arts Center;
and providing for various projects across the district such as controlled building access, exterior
lighting, security fencing, critical maintenance upgrades, water tanks, roofing, fire panels, and
security systems. The bonds would be repaid out of annual property tax levies over a period of
up to 22 years.
PA20287 CMM20287 COR 08/02/18