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CNUSD board authorizes final Measure GG bond issuance, staff to price sale in January
Summary
The Corona-Norco Unified School District board approved Resolution No. 31 to authorize a final Series D issuance under Measure GG, moving to price roughly $90.6 million in January; staff and the Citizens Bond Oversight Committee reported on expenditures and remaining allocations.
The Corona-Norco Unified School District board voted to adopt Resolution No. 31 on Dec. 16, authorizing the final Series D issuance under the district's 2014 Measure GG general obligation bond program.
The vote followed a detailed financial report from the Citizens Bond Oversight Committee and a market briefing from Adam Bauer of Fieldman Rolapp & Associates. Bauer told trustees that January is typically a favorable month to sell bonds and outlined a timeline: pricing on Jan. 14, 2026, with proceeds expected to be deposited in the county treasury on Jan. 28, 2026.
"January is typically a very good time to sell bonds," said Adam Bauer, the district's financial adviser, during the presentation on market conditions and sale timing. Bauer also noted the district's assessed valuation and statutory bonding capacity, and described the staff plan for pricing and potential later refinancing to deliver taxpayer savings.
Citizens Bond Oversight Committee finance staff reported a Measure GG financial summary through June 30, 2025: of the $396 million authorized by voters in 2014, the committee reported about $308 million in expenditures to date and a remaining allocation near $87 million. The committee said the district is in compliance with the constitutional provision cited in the presentation.
The board moved and seconded the resolution and adopted it during the organization meeting. The resolution authorizes issuance of the remaining Measure GG authorization (series D) and sets the parameters for the sale; the board directed staff to proceed with pricing and to return as required for final sale documentation.
The district's next steps, as described by staff and the financial adviser, are to finalize sale documents and attempt to take advantage of current market conditions in mid-January. No additional public comment or contest to the resolution was recorded at the meeting.
The board's action permits the district to access remaining Measure GG funds to complete previously authorized projects, including gymnasiums, classroom buildings and IT modernization noted in the oversight committee report.
