DATE: December 5, 2016
Flynn Fidgeon, Public Information Officer
Fitch Ratings has affirmed the approximately $81.7 million certificates of participation at A+. The COPs are payable from lease rental payments made by the district, subject to annual appropriation, pursuant to a master lease purchase agreement. The district is required to appropriate funds for all outstanding leases under the master lease on an all or none basis. An event of non-appropriation would result in the termination of the master lease, and the surrender to the trustee of all lease-purchased projects under the master lease.