Management anticipates issuing about $50 million in additional SFID
debt in August 2009.
includes a more newly developed portion of the district that's been more volatile than the district as a whole.
includes about 90% of the district's land mass, and the SFID
The SFID encompasses approximately half of Mojave Unified School District (the district) by AV, and is located in eastern Kern County, serving California City and unincorporated areas.
In spite of these challenges, the district has a moderate degree of remaining expenditure flexibility, the district's financial advisor believes sufficient SFID bonding capacity remains to refund the district's certificates, and management has a history of appropriately adjusting staffing levels to mitigate declining enrollment.
AV in the more recently developed SFID
has declined sharply, falling 24% since 2008 and reversing some of the extraordinary gains made during the housing boom.
The SFID encompasses approximately two-thirds of the district by assessed valuation (AV), and is located in eastern Kern County, serving a population of approximately 16,500 residents in California City and unincorporated areas.
Management intends to refund the district's COPs before debt service payments begin in fiscal 2013 by SFID GO bonds.
Management intends to refund the district's COPs before debt service payments begin in fiscal 2013 by issuing general obligation (GO) bonds from the district's SFID
Both the district and SFID
#1 have experienced strong recent AV growth, averaging approximately 6% since fiscal 2006, although both entities suffered their first (modest) valuation declines in FY10 (-1.
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