Home » Santa Clarita News » Hart Board Set To Authorize Bond Sale For Castaic High

Hart Board Set To Authorize Bond Sale For Castaic High

LEON WORDEN/ SCVNEWS.COM

The Hart School Board will consider authorizing a bond issuance to pay for construction of a high school in Castaic a bit earlier that it expected.

It doesn’t mean the high school will be built quicker; it means the financing could be in place in 2013 rather than 2014.

By way of background, Santa Clarita Valley voters approved a $300 bond measure (Measure SA) in 2008 to do a number of things: build the new high school, add theaters to certain existing high schools and rehabilitate other school facilities.

From that 2008 approval, in 2009 the school district issued $75 million in bonds and another $41.5 million in short-term notes (which it refinanced last year with a second bond issuance.)

Last month the school board authorized a third bond sale of $65 million, with the expectation of a fourth bond issuance in 2014 to fund the “vertical construction” of the Castaic school.

But according to a school district report, after talking it over with the county (which actually issues the bonds), and after reviewing the district’s needs and financing projections, school district administrators decided that the third and fourth issues should be rolled into one, to take advantage of “current historically low interest rates and fiscal certainty of funds.”

So on Wednesday, the school board will consider increasing the third bond issuance to $175 million from the previously approved $65 million, to include the money that will be needed to build a high school in Castaic.

Hart Board Set To Authorize Bond Sale For Castaic High

Leave a Reply

Your email address will not be published. Required fields are marked *

*

This site uses Akismet to reduce spam. Learn how your comment data is processed.

About KHTS FM 98.1 & AM 1220

As Santa Clarita’s only local radio station, KHTS FM 98.1 & AM 1220 mixes in a combination of news, traffic, sports, along with your favorite adult contemporary hits by artists such as Rob Thomas, Taylor Swift, Katy Perry and Maroon 5. We are vibrant member of the Santa Clarita community. Our broadcast signal reaches all of the Santa Clarita Valley and parts of the high desert communities located in the Antelope Valley. We stream our talk shows over the web, reaching a potentially worldwide audience.