San Dieguito Union High School District approves next bond issuance of $62 million
The San Dieguito Union High School District (SDUHSD) board approved a resolution to issue its next Prop AA bond series at its May 12 meeting. The next issuance of the $449 general obligation bond approved in 2012 will be for $62 million.
The projects lined up for the next issuance of bonds includes the new classroom building at Canyon Crest Academy; the new performing arts center at Torrey Pines High School; a new two-story classroom building at Pacific Trails Middle School; a classroom building and modernization of buildings at Diegueno Middle School; and a science classroom building, expansion of Crest Hall and modernization of classrooms at Oak Crest Middle School.
According to Associate Superintendent of Business Services Eric Dill, SDUHSD has issued $277 million so far in series A and B and has made great progress getting projects done across the district, including the new Pacific Trails Middle School in Carmel Valley, which opened in the fall, and the ongoing construction of the new Earl Warren Middle School.
Like the other bond issuances, the structure keeps the estimated tax rate at or below $25 per $100,000 in assessed valuation, limits the term to 25 years and the district does not use capital appreciation bonds.
SDUHSD Board Vice President Joyce Dalessandro was especially happy about the plans for Torrey Pines High School in this round of bonds.
“Forty-two years ago when Torrey Pines was built it was in the plans for a performing arts center,” Dalessandro said. “I’m so glad we are finally getting there, I really appreciate that.”
The district is looking to start construction in winter 2017 on the performing arts center and it is expected to be complete in 18 months.
SDUHSD Trustee Amy Herman said she is glad that the district is in the position to be able to meet capacity and growth needs in Pacific Highlands Ranch as it is growing at such a rapid rate.