What is an MOU?
FAQ 57
What is an MOU?
In this context, a Memorandum of Understanding (MOU) is a legally enforceable contract between a district (and its governing board) and a CBOC that spells out the rights, duties, and responsibilities of both parties; for example:
- How CBOC members are selected (or nominated) and appointed
- Independence of the CBOC from the district
- The CBOC is self-governing and prepares its own bylaws.
- The CBOC sets its own meeting schedule and agendas.
- The CBOC has access to district records and personnel.
- The CBOC can access and report to the governing board when it wishes.
- The district will contract and pay for independent legal counsel for the CBOC and other CBOC advisors and staff.
- The district will budget for CBOC expenses.
- The district will provide dedicated CBOC staff.
- The CBOC will have specified access to construction bond program auditors.
CABOC has prepared MOU templates for interested CBOCs to use as a baseline for their MOUs on the CABOC website.
https://www.bondoversight.org/california-bond-oversight-committee-faq/