Perris Union board authorizes 2026 general-obligation refunding bonds to lower taxpayers’ debt costs

The Perris Union High School District board voted to authorize the issuance and sale of the district’s 2026 general-obligation refunding bonds, approving the resolution by a 5-0 roll-call vote.

The bond-finance presentation from district advisors described a refinancing aimed at lowering interest costs on existing debt so savings can be returned to taxpayers through lower future tax bills. The district’s assessed value and remaining statutory bonding capacity were presented as factors supporting the transaction.

“We are at north of 1.1 with the net present value factor,” a district finance presenter said, describing the advisors’ savings estimate after accounting for inflation and timing. Advisors also outlined a market-timing plan: a tentative bond-pricing date around Feb. 4, with final pricing targeted for Feb. 25, subject to market conditions.

Trustees asked whether statewide budget pressures or Federal Reserve volatility could upend the projected savings. Bond counsel and the finance team said geo/GO refunding bonds benefit from statutory lock-box protections that prioritize debt service and generally make them less vulnerable to state cash-flow risk. Presenters also noted that seniors and long-time homeowners may see smaller dollar savings because Prop 13 limits assessed-value increases, although savings are applied on a percentage basis across parcels.

The board recorded its action under resolution number 19-25/26 to proceed within the parameters laid out by counsel and the district’s financing team. Trustees said they expected the district to publish a follow-up summary for taxpayers after pricing to show the estimated tax-rate effects for a typical home.

What happens next: staff said district finance will proceed with the financing timetable if market conditions remain favorable and will publish a summary of the expected taxpayer savings after pricing.