In November 2010, the Santa Barbara tax payers approved a 35 million dollar bond for the Santa Barbara School District (Measure R) and a 75 million dollar bond for the Santa Barbara Secondary School District (Measure Q). Currently, the district has sold $15 million worth of Measure R bonds and $30 million worth of Measure Q bonds. The Santa Barbara Unified School District’s Measures Q and R project list far exceeds the amount of funds remaining in bonds. In order to complete the current projects the district needs to sell the remaining 55 million dollars of bonds.

It is necessary to examine the options and timeline for the sale of additional bonds to complete the district’s current needs for both Measures Q and R.

 

Joanna Bowes, district advisor from Keygent Corp. and Ed Price from the property division of the county audit-controller office will be present to answer questions.