Briefly In Education

Bond refinancing saves tax funds

The Laguna Beach Unified School District recently took the opportunity of historically low interest rates to refinance its General Obligation Bonds and save local taxpayers $2.45 million in property taxes.

Local taxpayers approved the General Obligation Bonds in a 2001 election, with more than 80% of district voters approving the sale of the bonds. The proceeds of the bonds were used to make major renovations at all four of the District’s schools.

“The community stepped up to support the district when our facilities were in dire need of renovation and updating for new educational programs,” Board of Education President Ketta Brown said. “We considered it our responsibility as partners with the community to take this opportunity to lower taxes for Laguna Beach taxpayers.”

Asst. Supt. of Business Services Normal Shelton said the key to achieving the savings was that the new bonds issued by the District to accomplish the refinancing received the highest possible ratings for California public school bonds from both Standard and Poor’s and Moody’s rating agencies, resulting in the most advantageous interest rate and marketability of the bonds.

“For many years, our Board of Education has made prudent fiscal decisions resulting in strong fiscal stability,” Shelton said. “These decisions have resulted in the District being one of only a handful of the approximately 1,100 public school districts in California to earn an AAA rating, which is the highest rating possible from Standard & Poor’s rating agency.”

She went on to say that in issuing its rating, Standard and Poor’s characterized the District’s financial position as “very strong” and noted in particular the strong reserve levels maintained by the District.

The bond refinancing was accomplished without any direct cost to the District and did not extend the maturity dates of the bonds, according to the district.

“The refinance was executed for the sole benefit of our local taxpayers and the Board was very pleased to be in a position to realize these savings for the community,” Brown added.

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Pampering with a purpose

The Boys & Girls Club of Laguna Beach invites women to wiggle into their skinny jeans, slip into their favorite pair of heels and grab a friend to come together for a night of “ladies only” pampering, shopping and socializing Oct. 7 at the Wilson home, 100 Rockledge, Laguna Beach.

The fundraising event, which will feature fine food, cocktails and a silent auction filled with gift certificates, spa treatments, accessories, jewelry, and even an opportunity to bid on an amazing vacation in Puerto Vallarta, will benefit the club’s after-school programs, which serve 250 children.

Tickets for “Girls Night Out” are $100 and can be purchased online at https://www.bgclagunabeach.org or by calling Michelle Ray at (949) 494-2535x103. Tickets are limited and will go fast.

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Boys Chorus holds open rehearsal

The All American Boys Chorus, a local nonprofit organization, invites boys ages 8 to 10 and their parents to an open rehearsal from noon to 1:30 p.m. Sept. 11 to learn about the group’s vocal music and leadership training program.

“The All American Boys Chorus wants to reach out to as many Orange County families as possible and welcomes boys from every community,” said Anthony Manrique, executive director of the AABC. “Boys in the AABC receive a superb music education, acquire leadership qualities, establish lifelong friendships and enjoy unique opportunities to travel the world.”

The event will present interested parties with the opportunity to see Music Director Wesley Martin and the choristers in action at an actual rehearsal. Current parents and staff members will also be on hand to answer questions and provide information.

“We’re honored to extend this open rehearsal to youngsters and parents,” Martin said. “This short visit might be the beginning of a wonderful journey that sees boys walk away from the AABC in a few years as fine young men, inspired with vision and determination and leadership instilled through a program of musical excellence.”

The organization, which has released five albums and performed to standing ovations in concerts worldwide, has been in existence for 40 years. This summer the Chorus undertook an international concert tour that included performances in Malaysia, Singapore and Australia. In the summer of 2009, the Chorus toured the USA Pacific Northwest and the Canadian provinces of British Columbia and Alberta.

The choristers have sung before some of the nation’s most prestigious audiences, from U.S. presidents to well-known celebrities, including Tony Bennett and Bob Hope.

Artistic collaborations with Disney, Opera Pacific, the Pacific Symphony Orchestra, the Los Angeles Philharmonic Orchestra and the William Hall Master Chorale have given The All-American Boys Chorus notable stature.

Youngsters in the program have also earned television credits for nationwide commercials for Mazda, TWA, KFC and Pacific Life.

The rehearsal will take place at the AABC Headquarters, 1055 Arlington Drive, Costa Mesa. For more information, call (714) 708-1670 or visit https://www.taabc.org.