How will the bond proposition impact the district's debt level?
The district’s amount of outstanding debt peaked at $1.047 billion in 2010, and was still at slightly over $1 billion as recently as June 30th, 2012. This was due primarily to the large student growth the district experienced between 1990 and 2012. During that time period, enrollment grew by over 27,300 students. In fact, forty of the district’s campuses have been built since 1990.
At the peak of the debt load in 2010, outstanding debt represented 3.08% of taxable property value. That also was the year that Moody’s Rating Agency upgraded the District’s credit rating to AAA. By February 2, 2016 (the date the bond election was called by the Board of Trustees), the outstanding debt had been reduced to $855 million; a reduction of approximately $192 million or 18.3% from the peak. Projected debt at the end of the bond program would be slightly below $810 million representing 1.60% of taxable property value.