Bond Debts Put Wrinkle in Santa Monica-Malibu School District Separation

Malibu, CA — The separation of the Santa Monica-Malibu School District is tackling its toughest issue yet, money.

The issue is unissued bond debts. If the district were to separate right now, the city of Santa Monica would have the authority to regulate any bond money not yet issued, the Malibu Surfside News reported.

One Malibu Unification Negotiations Committee member suggested dividing any unissued bond money between the new districts, but there are problems with that plan — there may not be any money for Malibu.

Measure ES, a $385 million bond approved in 2012, promised $77 million for Malibu, much of which is in the process of being spent on projects in Malibu, the Surfside News reported.

For more on this, visit the Malibu Surfside News