Poway School Board Approves Bond-Related Resolutions

A resolution to allow the Poway Unified School District to refinance bonds in an effort to save dollars was approved by board members Monday by a 4-0 vote.

The approval allows the district to refinance up to $60 million of bonds, which were issued at $75 million in 2003 for the School Facilities Improvement District.

District staffers say the bonds could be sold as early as next week if the market is desirable, with an estimated 3 percent in net present value savings.

"We're planning to sell next week if it's good," said Superintendent John Collins. "If it's not so good, we'll wait. We will go out some time for sure, and we will save a significant amount of money for our taxpayers."

The board also approved two other resolutions relating to bonds. The second resolution allows the district to issue up to $39.5 million of special tax refunding bonds for Community Facilities Districts 6 and 10 while another approved resolution allows up to $2.25 million of special tax bonds for Community Facilities District 10.

School board member Linda Vanderveen was absent from the meeting.

Other Notes:

• The board approved a resolution proclaiming the week of Oct. 17 as "Character Counts! and Red Ribbon Week for Alcohol, Tobacco, and Other Drugs Prevention."

• The board approved a general education waiver request to extend an increase in maximum class size of 33 students in grades four through eight for the 2013-14 school year. Board President Penny Ranftle said the waiver was needed but "disheartening."

• Superintendent John Collins spoke about "lessons learned" in light of the September power outage. He said the district will create a Twitter account and is surveying parents and guardians about whether they'd like texts during emergencies.

• The board approved changes to graduation requirements. Beginning in 2013, computer proficiency and practical arts are no longer required.