Page 2 October 8, 2020 EL SEGUNDO HERALD
El Segundo Unified School District
Issues $33 million in Measure ES Bonds
Provided by ESUSD
The El Segundo School District successfully
Police Reports
Monday, Sep 28th
One female adult was arrested at 0730
hours from Douglas Street and Maple Avenue
for robbery.
One male adult was arrested at 1056
hours from 127th Street and Isis Avenue for
domestic battery.
A found property report was taken at 1130
hours from Main Street and Holly. Found was
a paper bag containing miscellaneous items.
A shoplifting report was taken at 2000
hours from the 500 block of North Pacific
Coast Highway. The suspect stole several
bottles of alcohol.
A petty theft report was taken at 0419
hours from the 1800 block of East Sycamore
Avenue. The suspect stole several items from
the victim’s purse.
Vote
Even in the midst of a global healthcare crisis,
rise in homelessness, and an attack against the
Heroes Act, Congresswoman Waters has
continued to fight in Washington to make sure
California residents aren’t left behind.
TOP PRIORITIES
• Stimulus Checks
• Social Security
• Jobs
• Seniors
• Rental Assistance
• U.S. Postal Service
RE-ELECT DEMOCRAT CONGRESSWOMAN MAXINE WATERS
NOVEMBER 3RD
PAID FOR BY CITIZENS FOR WATERS, FEC ID # COOH7585 249 OCEAN BLVD STE 685 LONG BEACH CA. 90820
Tuesday, Sep 29th
Traffic accident (no injuries) occurred at
0852 hours from the 200 block of Sierra
Street, vehicle versus vehicle.
A grand theft report was taken at 1454
hours from the 100 block of Penn Street.
Unknown suspect(s) stole the victim’s catalytic
converter from his vehicle.
A burglary report was taken at 1604 hours
from the 1600 block of East El Segundo
Boulevard. Unknown suspect(s) broke into
the victim’s property.
One male adult was arrested at 0156 hours
from Grand Avenue and Richmond Street
for identity theft, possession of a controlled
substance without a prescription and driving
on a suspended license.
issued its second series of Measure ES
bond sales on August 5, 2020. This sale of
Series B encompasses $33 million of the $92
million that El Segundo voters approved in
2018. Series A bonds were previously issued
on June 5, 2019 for $27 million.
In preparation for this sale, the District
achieved bond ratings of “Aa2” from Moody’s
Investors Service and “AA-” with an outlook
of stable from Standard and Poor’s. The rating
agencies cited the District’s maintenance of
strong reserves, consistent financial performance
supported by long-term investment and
capital planning, good management policies
and practices, and a stable trend of student
enrollment and average daily attendance.
The District’s strong performance and solid
credit ratings helped attract strong investor
interest, attracting six different investors on
the day of the sale. In addition, the District
sold its bonds during a historically low interest
rate environment. The Series B bonds have
a borrowing cost (true interest cost) of 2.11
percent with a final maturity in 2050. This
is more than a full point lower than the very
competitive true interest cost for the Series
A issuance of 3.15 percent. The District estimates
that the new maximum tax rate will
not exceed $48.00 per $100,000 of assessed
value throughout the life of the Measure ES
bond program. The $33 million was issued
as traditional current interest bonds and not
capital appreciation bonds.
The Series B bonds generated $33 million
in project proceeds, which will be used for
upgrades to school facilities including, but
not limited to, a new gymnasium/classroom
building at the middle school, a library renovation
at the high school, a new classroom
building at Richmond Street School, and
media center upgrades and improvements
at Center Street School.•
Letters
See Police Reports, page 6
Herald Misses the Mark Twice
This is the second time in two weeks your
journalist has made careless mistakes in his
articles. On September 17th in “Richmond
Bar & Grill Opens Anew with the Familiar
Charm” - the former owners of the Richmond
Bar and Grill are referred to as the More
family. The former owners are the Brown
Family, specifically Jeff and Patty. Which
is odd because he actually knows who they
are since he did correctly call them the
Brown family earlier in the article. Today in
“Surfridge Brewery Aims to Make its Mark
in an Ever-Growing Marketplace” Surfridge
Brewery is referred to as Brewridge three
times! Someone needs to reread these articles
at the very minimum - seems like these are
very easy catches considering he has the
correct information and uses it early on in
the articles. Do you have an editor?
– Anne Smet
Yikes! You are 100% correct. We apologize
and will do better. I take full responsibility
for overlooking the errors. HM
Working for Us
On Sept. 28, the West Basin Municipal
Water District board of directors unanimously
approved my proposal to record and post
video of our agency’s public meetings. This
is a significant accomplishment to ensure
transparency in the operations and oversight
of our water district, and that I have been
advocating for since I was first elected in
2014. While this may not seem like a big
deal, it is. Our water district is one of the few
local governments that does not video record
or broadcast its public meetings while nearly
every city council, school board, and other
water district boards already do. Members
of the public should be able to watch our
meetings live or to view them later as we
conduct the public’s business. As our board
makes major decisions about our region’s water
supplies that directly affect you, including,
for example, setting water rates, expanding
the district’s recycled water infrastructure,
and assessing desalination, this decision to
broadcast our meetings will better allow the
public to be informed and participate in the
work of your local water district. Relatedly,
in June I voted against raising water rates
that were part of West Basin’s fiscal year
budget. The budget passed but I did not
feel we should raise rates during this time
of economic uncertainty and hardship that
has afflicted our residents and businesses.
Decisionslike this should be easily accessible
to the public we serve and I remain committed
to ensuring your voice is heard.
– Scott Houston, Director, Division 4
West Basin Municipal Water District •
November 3