1. $49,999,957
   REDONDO BEACH UNIFIED SCHOOL DISTRICT
   GENERAL OBLIGATION BONDS
   (Los Angeles County, California)
2. $45,905,000
   KERN COMMUNITY COLLEGE DISTRICT
   REFUNDING CERTIFICATES OF PARTICIPATION
   (Kern County, California)
3. $8,000,000
   ORLAND JOINT UNIFIED SCHOOL DISTRICT
   GENERAL OBLIGATION BONDS
   (Counties of Glenn and Tehama, California)
4. $65,000,000
   STOCKTON UNIFIED SCHOOL DISTRICT
   GENERAL OBLIGATION BONDS
   (San Joaquin County, California)
5. $117,190,000
   GOLDEN EMPIRE SCHOOLS FINANCING AUTHORITY
   2008 LEASE REVENUE REFUNDING NOTES
   (Kern County, California)
6. $7,999,828.50
   ENTERPRISE ELEMENTARY SCHOOL DISTRICT
   GENERAL OBLIGATION BONDS
   (Shasta County, California)
7. $9,998,688
   SISKIYOU JOINT COMMUNITY COLLEGE DISTRICT
   GENERAL OBLIGATION BONDS
   (Counties of Siskiyou and Shasta, California)
8. $9,720,000
   PACIFIC GROVE UNIFIED SCHOOL DISTRICT
   GENERAL OBLIGATION BONDS
   (Monterey County, California)
9. $40,000,000
   HEMET UNIFIED SCHOOL DISTRICT
   GENERAL OBLIGATION BONDS
   (Riverside County, California)
10. $50,000,000
    GAVILAN JOINT COMMUNITY COLLEGE DISTRICT
    GENERAL OBLIGATION BONDS
    (Santa Clara County, California)
11. $100,000,000
    PERALTA COMMUNITY COLLEGE DISTRICT
    GENERAL OBLIGATION BONDS
    (Alameda County, California)
12. $47,275,000
    KERN COMMUNITY COLLEGE DISTRICT
    2007 REFUNDING CERTIFICATES OF PARTICIPATION
    (Kern County, California)
13. $42,000,000
    PALM SPRINGS UNIFIED SCHOOL DISTRICT
    GENERAL OBLIGATION BONDS
    (Riverside County, California)
14. $8,499,984.80
    DINUBA UNIFIED SCHOOL DISTRICT
    GENERAL OBLIGATION BONDS
    (Tulare County, California)
15. $11,545,000
    EAST SIDE UNION HIGH SCHOOL DISTRICT
    GENERAL OBLIGATION REFUNDING BONDS
    (Santa Clara County, California)
16. $19,997,738.75
    EAST SIDE UNION HIGH SCHOOL DISTRICT
    GENERAL OBLIGATION BONDS
    (Santa Clara County, California)
17. $2,600,000
    LOS OLIVOS SCHOOL DISTRICT
    GENERAL OBLIGATION BONDS
    (Santa Barbara County, California)
18. $23,650,000
    SANTA BARBARA SCHOOLS FINANCING AUTHORITY
    2007 GENERAL OBLIGATION REVENUE BONDS
    (Santa Barbara County, California)
19. $13,265,000
    SANTA BARBARA SCHOOLS FINANCING AUTHORITY
    2007 GENERAL OBLIGATION REVENUE BONDS
    (Santa Barbara County, California)
20. $60,000,000
    STOCKTON UNIFIED SCHOOL DISTRICT
    GENERAL OBLIGATION BONDS
    (San Joaquin County, California)

Managing a school or college district’s budget in today’s environment is more challenging with every passing day. Restricted funds. Limited revenue sources. Wage demands. Rising construction costs.

The refinancing or restructuring of a district’s existing general obligation bonds, Mello-Roos Bonds, or lease revenue/certificates of participation is one of the few bright spots in an otherwise cloudy budgetary picture. By merely taking advantage of lower interest rates, a district can reap significant savings resulting in lower payments from the general fund, reduced taxes paid by property owners, or additional project funding.

And even when lower interest rates aren’t available, the advantages of restructuring debt to better fit a district’s current financial situation shouldn’t be overlooked.