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:

  1. How CBOC members are selected (or nominated) and appointed
  2. Independence of the CBOC from the district
  3. The CBOC is self-governing and prepares its own bylaws.
  4. The CBOC sets its own meeting schedule and agendas.
  5. The CBOC has access to district records and personnel.
  6. The CBOC can access and report to the governing board when it wishes.
  7. The district will contract and pay for independent legal counsel for the CBOC and other CBOC advisors and staff.
  8. The district will budget for CBOC expenses.
  9. The district will provide dedicated CBOC staff.
  10. 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/