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Bank of America explains El Segundo Unified bond measures and tax‑rate outlook
Summary
Bank of America presented an overview of El Segundo Unified’s general obligation bond measures, how assessed valuation and maturing measures drive tax rates, and the district’s strong credit rating; board members asked questions about timing and tax‑rate anomalies.
At its Feb. 10 meeting, the El Segundo Unified School District Board of Education heard a detailed explanation of the district’s general obligation (GO) bond program from Jin Kim of Bank of America.
Kim reviewed the allowable uses of GO bond proceeds (modernization, safety and security, construction and technology) and reiterated prohibited uses — "you cannot use GO bond money to keep the lights on, pay utility bills, administrative salaries or pensions," he said. He…
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