Bond Oversight Committee

Purpose

The Oversight Committee will ensure that spending of G.O. Bonds proceeds by the Board of Directors of Lompoc Healthcare District is subjected to direct taxpayer review and inform the public about the expenditures.

Charge to the Committee

The committee will review G.O. Bond uses and fund balance, quarterly. The committee may also make physical inspections of the "New Hospital Project" as appropriate.

The committee will issue an annual report on its activities to the Lompoc Healthcare District Board of Directors and the Community at large.

Committee Operations

• The committee reports to the Lompoc Healthcare District Board of Directors
• The committee will meet quarterly
• The committee will keep minutes of its meetings
• The committee shall select a chairperson and a vice chairperson
• The committee shall consist of at least 5 members who will serve for a 2-year term without compensation. Members may serve no more than 3 consecutive terms.
• Members shall maintain residency or business within the District

Bond Oversight Committee Minutes