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Bonita Unified hears detailed briefing on potential $260 million bond, tax-rate tradeoffs and legal limits
Summary
District consultants told trustees the district could access roughly $260 million under one illustrative bond structure but stressed tax-rate sensitivity, Proposition 39 compliance and strict limits on use of public funds for campaigning. Counsel outlined filing deadlines and project-list rules.
Bonita Unified trustees received a detailed presentation on the feasibility of a potential general obligation bond that consultants said could raise roughly $260 million under one illustrative schedule, and heard legal guidance on what voters would be asked to approve.
Chet Wang of Kegent Advisors framed general obligation bonds as the most common, lowest-cost method for districts to finance capital projects because repayment is through property taxes. "A GO bond is the most common method of debt financing utilized by school districts to finance capital projects," Wang said, explaining voters approve an authorization amount, a project list and an estimated tax rate.
Consultants told the board the district—urrent assessed value is about $13.7 billion and showed sensitivity scenarios: for example, a $60 per $100,000 tax-rate framing was…
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