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VENTURA COUNTY BUSINESS | VENTURA COUNTY DIGEST / BARBARA
MURPHY

Fitch IBCA Gives A+ to Hueneme School Bonds

April 20, 1999|BARBARA MURPHY

Hueneme School District's $2.6 million in general obligation bonds, which were approved by voters in 1997, are rated A+ by Fitch IBCA.

The bonds are being sold this month by Stone & Youngberg LLC. An A+ rating also is assigned to $2.1 million in outstanding debt. The rating reflects the district's stable economy, positive financial operations and effective management, officials said.

This new bond issue represents the remainder of a $4.7-million authorization, which was approved by 75% of the voters. The proceeds will provide the required 20% match to a $5.8-million state grant to repair, renovate and modernize school facilities.

There are 8,416 students in the district, and annual growth since 1991 has averaged 1.7%. The district encompasses eight square miles that include portions of Port Hueneme and Oxnard, as well as some unincorporated county territory.

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