Community Corner
WCCUSD Debt Service up Sharply
The new bond documents are out. http://emma.msrb.org/
When bonds were issued last year the 2014 debt service was expected to be $53.5 million.
According to the new bonds document, the 2014 debt service will be $70.0 million.
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There are also new tax base estimates. For fiscal year 2012/13, the tax base increased by 6.60%. For 2013/14 the tax base DECREASED by 5.96%. So over the two year period the tax base is essentially unchanged.
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The bonds document states that as a result of the Chevron fire its valuation went down by about $1.1 billion.
I am awaiting documents from the school district.
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