Hesperians can expect to see a school bond on one or more upcoming ballots.
In order to refinance $51 million in debt, Hesperia Unified School District officials will need to agree to seek a bond on the 2014 ballot. And, if that doesn't work — since Hesperians have historically been reluctant to vote in favor of bond measures — the HUSD will try again in 2016.
The school board, in their incarnation as the Hesperia School District Financing Corporation board of directors, will vote to refinance and lock in a fixed-rate loan, replacing the adjustable rate debt obtained in 2004.
But to get there, the district will likely have to do something unpopular with many residents to get their creditors on board: come to residents with their hand out, asking for money.
"The district presently plans to put a general obligation bond on the measure on the ballot in 2014," Superintendent Mark McKinney said.
The refinancing will also give the district some financial wiggle room, McKinney said — something it's had precious little of in the past several years of shrinking budgets.
Approving the refinancing package will require a "super-majority" of four out of five school board members.
The school board is expected to vote on restructuring the debt at their next regular meeting at 6 p.m. May 7 in the HUSD Educational Support Center Annex, 15576 Main St.
Beau Yarbrough may be reached at (760) 956-7108 or at beau@HesperiaStar.com.