DATE:
May 18, 2021
25
TO:
Board of Supervisors
SUBJECT
Title
SAN DIEGUITO UNION HIGH SCHOOL DISTRICT 2021 GENERAL OBLIGATION BONDS, (ELECTION OF 2012), SERIES E AND THE 2021 GENERAL OBLIGATION REFUNDING BONDS (DISTRICTS: 3 & 5)
Body
OVERVIEW
2021 General Obligation Bonds, Election of 2012, Series E
A bond election was held in the San Dieguito Union High School District, County of San Diego, California ("District") on November 6, 2012, at which at least 55% of the voters casting ballots authorized the issuance of general obligation bonds of the District in the maximum aggregate principal amount of $449,000,000 ("Proposition AA Authorization"). The Board of the District ("District Board") has issued or caused to be issued approximately $364,040,000 aggregate principal amount of general obligation bonds under the Proposition AA Authorization, over several series of bonds and carries a remaining amount of approximately $84,960,000. On April 22, 2021, the District Board authorized the issuance of the Series E bonds under the Proposition AA Authorization in an aggregate principal amount not to exceed $84,960,000 to be designated as the "San Dieguito Union High School District 2021 General Obligation Bonds, Election of 2012, Series E-1 (Taxable) and Series E-2 (Tax-Exempt)," (together, "2021 Series E GO Bonds"). Following the issuance of the 2021 Series E GO Bonds there will be no authorization remaining of the Proposition AA Authorization.
2021 General Obligation Refunding Bonds
As part of the Proposition AA Authorization, the District Board previously issued its San Dieguito Union High School District 2015 General Obligation Bonds (Election of 2012), Series B-2 (Tax-Exempt) in the aggregate principal amount of $110,030,000. On April 22, 2021, the District Board authorized the issuance of the refunding bonds under the Proposition AA Authorization in an aggregate principal amount not to exceed $130,000,000 to be designated as the "San Dieguito Union Hig...
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