LVUSD bonds issued





The Las Virgenes Unified School District (LVUSD) Board of Education approved the issuance last week of $22 million in additional bond money to help pay for new school construction.


The money comes from a pool of $93 million in bond money approved by voters under Measure R of 1997.


The latest offering will pay for construction of the district’s new $15 million middle school on Mulholland Highway in Calabasas.


LVUSD hopes to open the 900-student middle school in the fall of 2002. Construction bids are due later this year.


The bonds also will fund construction of the district’s ninth elementary school, located on a nine-acre site at the New Millennium housing development on Parkway Calabasas in Calabasas.


Donald Zimring, LVUSD deputy superintendent, said the New Millennium parcel could be in district hands by this fall.


LVUSD wants to build a new elementary school in Agoura Hills, too, but district officials are still wrangling with private developers over the purchase of land.


The school would be located on a 12-acre site at the Pacific Heritage luxury home development at the end of Reyes Adobe Road, but talks so far have failed to produce an agreement.


The new school would relieve overcrowding at Yerba Buena Elementary School on Larboard Lane. The Yerba Buena buildings would become part of Lindero Canyon Middle School as part of the move.


With the latest offering, LVUSD has sold $63.9 million in Measure R bonds. District officials said LVUSD maintains favorable ratings with both Moody’s Investors Service and Standard & Poor’s.


The remainder of the bond money will go toward performing arts theater construction and other school upgrades, Zimring said.


––John Loesing



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