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Board authorizes first $40 million of Measure M bonds, asks county to set tax rate for $200 million authorization
Summary
The San Marino Unified School District board approved resolutions asking Los Angeles County to set a tax rate and authorizing the first $40 million series of Measure M general obligation bonds; the total authorization voters approved is $200 million.
The San Marino Unified School District Board of Education on May 27 approved two resolutions that move the district toward selling Measure M general obligation bonds.
In separate roll-call votes the board authorized a request to the Los Angeles County Board of Supervisors to establish a tax rate tied to the district's voter-approved bond authorization and approved a resolution to issue and sell the first series of bonds — up to $40 million — from that authorization. District staff said the November ballot measure authorized up to $200 million; staff corrected a drafting error in the draft resolution that…
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