Bond Issuances

Following voter approval of Measure HH, the district will be issuing General Obligation (GO) bonds in multiple series over time, rather than all at once. This approach aligns funding with project schedules, construction cash-flow needs, and prevailing market conditions.

The district completed its first Measure HH bond issuance in January 2025, officially launching the bond program and providing initial funding for early projects and planning activities. Additional bond series will be issued periodically as projects move into design and construction phases, subject to Board of Trustees approval and compliance with voter-approved tax rate limits.

Issuing bonds in phases allows the district to:

• Match funding to actual project timelines
• Minimize borrowing costs by avoiding early issuance of unused funds
• Take advantage of favorable market conditions when available

This phased strategy reflects best practices in public finance and supports responsible stewardship of taxpayer resources.

District Assessed Value and Bonding Capacity

The size and timing of Measure HH bond issuances are tied to the district’s overall tax base. For fiscal year 2023–24, the San Diego Community College District’s assessed value was estimated at $253.1 billion, resulting in a legal bonding capacity of approximately $5 billion. This capacity provides the financial framework within which Measure HH bonds may be issued over time, consistent with voter authorization and tax rate limits.

Bond Issuance Schedule

January 9, 2025 - $850 million