Supervisors approve refinance of FUESD bonds

For the second time in 16 months, the Fallbrook Union Elementary School District will refinance its bond debt.

The San Diego County Board of Supervisors voted 5-0 Feb. 28 to approve the refinancing of up to $10 million of the school district’s bond obligation. The Refunding Bonds will be used to pay off the existing debt at a lower interest rate.

In the November 2002 election, 57.5 percent of Fallbrook Union Elementary School District voters authorized the issuance of up to $32 million in general obligation bonds.

If the voters of a school district or special district approve a general obligat...