The San Diego Unified School District Board of Education voted to place a $2.1 billion general obligation bond measure before voters in November.
The district, which serves about 135,000 students, will use the bonds to supplement a $1.5 billion GO-backed capital campaign approved by voters in 1998. The district plans six issues over the next 10 years, keeping property taxes unchanged from the levels approved under the 1998 referendum by issuing new GOs as old bonds are paid off, district spokesman Jack Brandais said.
The school board voted unanimously for the new measure. It must win support from 55% of district voters to be approved. The 1998 measure won 78% of the vote.
A staff study of school facilities said the district needs another $5.5 billion of capital spending. The board decided to send voters a request for $2.1 billion to repair outdated restrooms, roofs, and plumbing, install technology such as WiFi networks, replace portable classrooms, improve access for disabled students, and upgrade fire alarms.
San Diego USD’s GO bonds are rated AA by Standard & Poor’s and Aa2 by Moody’s Investors Service. The district does not have an underlying rating from Fitch Ratings.
