Poway Sale Part of a 'Ton' of Coming California School Debt

Finestone, Deborah
May 2003
Bond Buyer;5/16/2003, Vol. 344 Issue 31637, p28
Trade Publication
The article reports on the plans of California-based Poway Unified School District to sell $75 million in general obligation bonds. School districts and community colleges won authorization to sell about $9 billion in government obligation (GO) bonds in November 2002. Many of them utilized Proposition 39, a 1998 law that allows qualifying districts to pass bond measures with a 55% majority of voters instead of the previously required two-thirds majority. The measures typically must appear on ballots in statewide primary or general elections. The school district covers about 99 square miles in northern San Diego County. The facilities district covers about 65 square miles and includes 45,000 residential units with an estimated population of 130,000, according to official documents.


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