Spreadsheet

    Capital appreciation bonds

    Hun­dreds of Cali­for­nia school and com­munity col­lege dis­tricts have fin­anced con­struc­tion pro­jects with cap­it­al ap­pre­ci­ation bonds that push re­pay­ment far in­to the fu­ture and ul­ti­mately cost many times what the dis­trict bor­rowed. Gov­ern­ment fin­ance ex­perts con­sider bonds im­prudent if the total cost is more than four times the money bor­rowed or the ma­tur­ity peri­od is great­er than 25 years.

    Published:
    Nov. 28, 2012
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    County District Sale year Principal Total debt service Maturity length Maturity warning Debt ratio Ratio warning
    Contra Costa Acalanes Union High School District 2011 $13,677,301 $136,238,257 35.1 10.0
    Contra Costa Acalanes Union High School District 2010 $4,829,577 $16,960,000 20.3 3.5
    Los Angeles Acton-Agua Dulce Unified School District 2009 $2,288,947 $15,141,784 30.1 6.6
    Los Angeles Acton-Agua Dulce Unified School District 2009 $2,745,491 $10,085,000 24.3 3.7
    Los Angeles Alhambra Unified School District 2009 $21,119,695 $129,960,000 26.2 6.2
    Los Angeles Alhambra Unified School District 2009 $1,224,987 $7,100,000 18.3 5.8
    Los Angeles Alhambra Unified School District School Improvement District 2011 $9,099,721 $66,565,000 30.5 7.3
    Monterey Alisal Union School District 2009 $12,000,531 $39,210,000 25.0 3.3
    Monterey Alisal Union School District 2008 $405,336 $1,105,000 8.6 2.7
    Santa Barbara Allan Hancock Joint Community College District 2012 $8,558,137 $33,540,000 26.9 3.9
    Santa Barbara Allan Hancock Joint Community College District 2009 $3,379,556 $3,700,000 1.8 1.1
    Santa Clara Alum Rock Union Elementary School District 2008 $1,410,328 $1,935,000 9.9 1.4
    Riverside Alvord Unified School District 2011 $32,250,407 $219,869,740 32.2 6.8
    Orange Anaheim City School District 2011 $878,482 $985,000 1.3 1.1
    Orange Anaheim City School District 2007 $35,171,416 $92,835,000 24.5 2.6
    Mendocino Anderson Valley Unified School District 2010 $238,485 $1,335,000 21.8 5.6
    Los Angeles Antelope Valley Community College District 2007 $12,321,256 $54,865,000 28.9 4.5
    Los Angeles Antelope Valley Community College District 2007 $14,375,276 $48,050,000 9.9 3.3
    Los Angeles Arcadia Unified School District 2007 $64,765,423 $275,910,000 39.5 4.3
    San Benito Aromas-San Juan Unified School District 2011 $1,999,078 $22,893,054 39.5 11.5
    San Benito Aromas-San Juan Unified School District 2009 $1,761,343 $3,295,000 12.2 1.9
    Kern Arvin Union School District 2008 $3,734,874 $24,660,000 39.7 6.6
    Merced Atwater Elementary School District 2009 $1,598,685 $12,495,000 31.9 7.8
    Merced Atwater Elementary School District 2009 $786,918 $4,235,000 24.9 5.4
    Los Angeles Baldwin Park Unified School District 2009 $19,998,365 $26,010,000 4.9 1.3
    Los Angeles Baldwin Park Unified School District 2008 $10,395,182 $30,036,339 28.1 2.9
    Riverside Banning Unified School District 2008 $1,794,288 $6,700,000 17.1 3.7
    Madera Bass Lake Joint Union Elementary School District 2010 $4,825,094 $44,404,500 40.0 9.2
    Los Angeles Bassett Unified School District 2008 $3,539,970 $11,515,000 29.5 3.3
    Los Angeles Bassett Unified School District 2007 $1,224,566 $5,745,000 24.9 4.7
    Kern Beardsley Elementary School District 2007 $3,689,898 $9,135,000 25.0 2.5
    Riverside Beaumont Unified School District 2011 $9,490,102 $53,501,874 33.2 5.6
    Riverside Beaumont Unified School District 2009 $1,709,287 $6,590,000 17.6 3.9
    Sonoma Bellevue Union Elementary School District 2011 $774,040 $5,255,000 29.9 6.8
    Sonoma Bellevue Union Elementary School District 2011 $378,528 $4,070,000 23.9 10.8
    Sonoma Bellevue Union Elementary School District 2010 $3,500,905 $3,635,000 1.1 1.0
    San Mateo Belmont-Redwood Shores School District 2011 $3,010,856 $15,466,860 30.0 5.1
    San Mateo Belmont-Redwood Shores School District 2011 $1,654,110 $8,205,000 31.0 5.0
    Sonoma Bennett Valley Union Elementary School District 2012 $748,461 $1,050,000 3.0 1.4
    Sonoma Bennett Valley Union Elementary School District 2011 $369,810 $1,950,000 24.4 5.3
    Los Angeles Beverly Hills Unified School District 2009 $59,584,664 $203,900,000 24.5 3.4
    Tuolumne Big Oak Flat-Groveland Unified School District 2007 $849,992 $2,903,478 24.8 3.4
    Inyo Big Pine Unified School District 2010 $1,115,789 $6,121,248 29.9 5.5
    Inyo Big Pine Unified School District 2007 $285,002 $565,000 10.7 2.0
    Inyo Bishop Union Elementary School District 2008 $1,776,565 $5,988,928 23.6 3.4
    Humboldt Blue Lake Union Elementary School District 2010 $244,264 $1,820,000 29.8 7.5
    Los Angeles Bonita Unified School District 2011 $1,192,605 $5,500,000 22.2 4.6
    Los Angeles Bonita Unified School District 2009 $965,000 $3,000,000 11.9 3.1
    San Diego Bonsall Union School District 2007 $2,618,309 $11,645,000 32.0 4.4
    San Diego Bonsall Union School District 2007 $2,866,128 $6,740,000 25.0 2.4
    Monterey Bradley Union School District 2012 $504,981 $3,435,000 37.4 6.8
    Calaveras Bret Harte Union High School District 2012 $787,350 $1,000,000 3.0 1.3
    Calaveras Bret Harte Union High School District 2009 $405,969 $1,800,000 15.2 4.4
    El Dorado Buckeye Union School District 2008 $3,779,996 $6,880,000 16.0 1.8
    Santa Barbara Buellton Union Elementary School District 2009 $1,324,546 $5,649,351 10.4 4.3
    San Mateo Burlingame Elementary School District 2011 $2,887,486 $13,460,000 24.3 4.7
    Contra Costa Byron Union School District 2007 $1,352,193 $4,285,000 24.8 3.2
    Santa Cruz Cabrillo Community College District 2007 $24,768,505 $90,810,000 32.3 3.7
    San Diego Cajon Valley Union School District 2012 $7,999,932 $15,750,000 18.0 2.0
    Calaveras Calaveras Unified School District 2008 $2,003,738 $10,996,171 25.0 5.5
    Calaveras Calaveras Unified School District 2007 $300,983 $840,000 9.8 2.8
    Statewide California Community College Financing Authority 2008 $4,900,666 $16,440,000 29.9 3.4
    Statewide California Educational Facilities Authority 2008 $14,075,000 $21,255,550 9.6 1.5
    Napa Calistoga Joint Unified School District 2012 $265,077 $455,000 6.6 1.7
    Napa Calistoga Joint Unified School District 2011 $1,938,300 $6,440,000 26.2 3.3
    Santa Clara Campbell Union School District 2011 $2,499,400 $23,495,000 29.1 9.4
    San Diego Carlsbad Unified School District 2011 $3,255,389 $3,605,000 2.2 1.1
    San Diego Carlsbad Unified School District 2009 $21,399,567 $28,745,000 10.0 1.3
    Monterey Carmel Unified School District 2008 $1,564,246 $6,465,000 25.0 4.1
    Shasta Cascade Union Elementary School District 2010 $1,753,661 $2,035,000 3.0 1.2
    Shasta Cascade Union Elementary School District 2009 $137,733 $1,930,000 24.2 14.0
    San Luis Obispo Cayucos Elementary School District 2007 $2,633,543 $8,785,000 34.4 3.3
    Sacramento Center Joint Unified School District 2007 $24,998,234 $65,380,000 24.3 2.6
    Los Angeles Centinela Valley Union High School District 2012 $17,763,324 $72,767,093 33.2 4.1
    Los Angeles Centinela Valley Union High School District 2011 $2,639,344 $7,428,110 23.1 2.8
    Los Angeles Centinela Valley Union High School District 2010 $5,239,726 $7,380,000 3.0 1.4
    Los Angeles Centinela Valley Union High School District 2009 $22,995,151 $69,995,000 24.8 3.0
    San Bernardino Central School District 2012 $6,499,259 $38,559,076 39.5 5.9
    San Bernardino Central School District 2010 $746,351 $3,740,000 20.5 5.0
    Fresno Central Unified School District 2011 $3,464,195 $4,365,000 2.0 1.3
    Fresno Central Unified School District 2009 $2,744,923 $4,610,000 9.5 1.7
    Stanislaus Ceres Unified School District 2010 $14,999,718 $123,305,000 39.3 8.2
    Stanislaus Ceres Unified School District 2009 $6,249,577 $19,910,000 15.0 3.2
    Los Angeles Cerritos Community College District 2012 $35,760,515 $94,535,000 24.4 2.6
    San Bernardino Chaffey Community College District 2007 $9,769,966 $15,920,000 10.0 1.6
    Stanislaus Chatom Union School District 2007 $1,699,997 $12,710,000 39.7 7.5
    Stanislaus Chatom Union School District 2007 $234,999 $915,000 24.7 3.9
    Madera Chawanakee Unified School District 2008 $463,998 $2,575,000 24.8 5.5
    Los Angeles Citrus Community College District 2009 $3,590,302 $18,275,000 25.0 5.1
    Sonoma Cloverdale Unified School District 2011 $927,406 $2,630,000 15.4 2.8
    Fresno Clovis Unified School District 2012 $18,001,801 $46,515,000 23.0 2.6
    Riverside Coachella Valley Unified School District 2012 $10,099,882 $43,000,000 31.1 4.3
    Riverside Coachella Valley Unified School District 2010 $24,990,463 $143,307,445 33.2 5.7
    Fresno Coalinga-Huron Joint Unified School District 2011 $174,863 $220,000 2.0 1.3
    Fresno Coalinga-Huron Joint Unified School District 2011 $2,510,541 $16,561,725 25.3 6.6
    Santa Barbara Cold Spring Elementary School District 2009 $789,543 $1,547,124 24.7 2.0
    Santa Barbara College Elementary School District 2009 $2,318,764 $9,225,000 24.9 4.0
    Tulare College of the Sequoias Community College District 2011 $1,606,011 $2,050,000 2.1 1.3
    Tulare College of the Sequoias Community College District 2011 $3,696,007 $25,587,439 29.2 6.9
    Tulare College of the Sequoias Community College District 2011 $1,240,439 $6,936,761 23.4 5.6
    Tulare College of the Sequoias Community College District 2010 $349,652 $5,820,000 27.2 16.6
    Tulare College of the Sequoias Community College District 2009 $2,450,778 $11,756,166 25.0 4.8
    Tulare College of the Sequoias Community College District 2009 $4,247,404 $11,450,000 15.5 2.7
    Tulare College of the Sequoias Community College District 2009 $5,793,219 $14,325,000 16.5 2.5
    Tulare College of the Sequoias Community College District 2007 $1,459,982 $3,680,000 14.4 2.5
    San Bernardino Colton Joint Unified School District 2010 $28,051,199 $173,141,056 34.9 6.2
    San Bernardino Colton Joint Unified School District 2009 $4,074,050 $7,315,000 9.8 1.8
    Los Angeles Compton Community College District 2012 $7,031,122 $23,115,000 24.4 3.3
    San Bernardino Copper Mountain Community College District 2008 $2,999,587 $6,507,651 23.3 2.2
    Riverside Corona-Norco Unified School District 2009 $21,885,259 $97,960,093 29.7 4.5
    Riverside Corona-Norco Unified School District 2009 $5,124,200 $23,755,000 19.5 4.6
    Los Angeles Covina-Valley Unified School District 2007 $18,999,949 $39,555,000 24.9 2.1
    Santa Clara Cupertino Union School District 2011 $490,086 $2,105,000 16.4 4.3
    Santa Clara Cupertino Union School District 2010 $3,398,760 $13,890,000 24.3 4.1
    Santa Clara Cupertino Union School District 2007 $374,614 $1,950,000 24.9 5.2
    Orange Cypress Elementary School District 2011 $9,747,790 $89,474,004 37.3 9.2
    Orange Cypress Elementary School District 2009 $2,573,642 $3,245,000 2.0 1.3
    Orange Cypress Elementary School District 2009 $1,649,052 $9,430,000 25.0 5.7
    Yolo Davis Joint Unified School District 2009 $2,564,311 $4,210,000 10.3 1.6
    San Diego Dehesa School District 2012 $84,852 $500,151 23.1 5.9
    Del Norte Del Norte County Unified School District 2009 $94,998 $455,000 2.2 4.8
    Kern Delano Union Elementary School District 2007 $969,992 $1,490,000 8.3 1.5
    Stanislaus Denair Unified School District 2011 $1,933,334 $14,996,223 32.1 7.8
    Riverside Desert Community College District 2007 $95,818,444 $430,040,713 38.6 4.5
    Tulare Dinuba Unified School District 2009 $644,999 $1,780,000 15.4 2.8
    Tulare Dinuba Unified School District 2007 $274,985 $3,120,000 24.9 11.3
    Placer Dry Creek Joint Elementary School District 2009 $8,228,677 $65,940,000 30.2 8.0
    Placer Dry Creek Joint Elementary School District 2008 $2,973,345 $13,390,000 24.2 4.5
    Los Angeles Duarte Unified School District 2011 $5,861,043 $20,388,769 25.1 3.5
    Alameda Dublin Unified School District 2009 $35,999,766 $211,449,707 34.8 5.9
    Alameda Dublin Unified School District 2007 $14,998,934 $40,885,000 25.0 2.7
    Santa Clara East Side Union High School District 2007 $19,997,739 $51,390,000 24 2.6
    Kern Edison Elementary School District 2008 $963,956 $5,570,000 30.2 5.8
    Los Angeles El Camino Community College District 2012 $150,812,882 $362,997,616 25.9 2.4
    El Dorado El Dorado Union High School District 2012 $9,969,904 $37,435,000 30.0 3.8
    El Dorado El Dorado Union High School District 2009 $6,529,154 $15,585,000 27.0 2.4
    Los Angeles El Monte City School District 2012 $6,110,747 $20,970,000 30.4 3.4
    Los Angeles El Monte City School District 2008 $5,998,159 $24,965,000 22.6 4.2
    Los Angeles El Monte City School District 2007 $3,324,977 $6,040,000 13.0 1.8
    Los Angeles El Monte Union High School District 2012 $28,572,787 $114,074,831 29.8 4.0
    Los Angeles El Monte Union High School District 2009 $4,511,305 $8,105,000 6.0 1.8
    Los Angeles El Monte Union High School District 2008 $507,257 $530,000 2.3 1.0
    Los Angeles El Rancho Unified School District 2011 $1,469,786 $4,010,000 17.2 2.7
    Los Angeles El Rancho Unified School District 2008 $3,875,078 $21,030,000 26.7 5.4
    Los Angeles El Rancho Unified School District 2007 $3,268,010 $11,675,000 24.9 3.6
    Los Angeles El Segundo Unified School District 2009 $13,999,902 $57,805,000 24.5 4.1
    Sacramento Elk Grove Unified School District 2008 $651,133 $5,845,000 28.0 9.0
    Kern Elk Hills Elementary School District 2008 $555,012 $1,380,000 14.5 2.5
    Alameda Emery Unified School District 2011 $324,600 $955,000 10.3 2.9
    San Diego Encinitas Union School District 2011 $2,993,463 $6,990,000 15.2 2.3
    Shasta Enterprise Elementary School District 2010 $6,293,564 $31,879,175 36.7 5.1
    Shasta Enterprise Elementary School District 2008 $499,828 $1,125,000 9.3 2.3
    San Diego Escondido Union High School District 2011 $17,588,806 $157,302,721 39.8 8.9
    San Diego Escondido Union High School District 2009 $26,996,392 $246,634,638 39.7 9.1
    San Diego Escondido Union High School District 2009 $30,749,551 $109,490,000 25.0 3.6
    Santa Clara Evergreen School District 2009 $22,498,712 $64,425,000 22.4 2.9
    Tulare Exeter Union School District 2008 $1,759,900 $9,775,000 37.3 5.6
    Kern Fairfax Elementary School District 2011 $1,020,175 $15,553,109 37.7 15.2
    Sacramento Folsom-Cordova Unified School District 2009 $9,440,226 $40,350,000 24.9 4.3
    Sacramento Folsom-Cordova Unified School District 2009 $513,626 $9,110,000 24.9 17.7
    Sacramento Folsom-Cordova Unified School District 2007 $17,653,630 $39,885,000 24.9 2.3
    Sacramento Folsom-Cordova Unified School District 2007 $16,680,205 $43,405,000 24.9 2.6
    San Bernardino Fontana Unified School District 2012 $47,259,440 $194,900,000 31.8 4.1
    San Bernardino Fontana Unified School District 2010 $23,997,120 $33,600,000 2.9 1.4
    San Bernardino Fontana Unified School District 2008 $9,975,909 $51,795,000 24.9 5.2
    Santa Barbara Foothill-De Anza Community College District 2007 $13,381,686 $47,900,000 29.2 3.6
    Santa Clara Foothill-De Anza Community College District 2007 $21,455,250 $77,595,000 29.3 3.6
    Sonoma Forestville Union School District 2012 $289,309 $1,909,518 27.3 6.6
    Mendocino Fort Bragg Unified School District 2011 $1,062,874 $9,150,000 28.1 8.6
    Mendocino Fort Bragg Unified School District 2009 $1,440,684 $6,520,000 25.0 4.5
    Humboldt Fortuna Union Elementary School District 2012 $1,146,210 $1,420,000 5.0 1.2
    Humboldt Fortuna Union Elementary School District 2007 $1,899,984 $6,395,000 35.2 3.4
    Fresno Fowler Unified School District 2010 $5,744,291 $54,951,346 39.4 9.6
    Fresno Fowler Unified School District 2010 $2,199,079 $8,656,063 24.4 3.9
    Sutter Franklin Elementary School District 2007 $999,542 $3,215,000 33.4 3.2
    Santa Clara Franklin-McKinley School District 2011 $3,788,985 $21,924,600 24.3 5.8
    Santa Clara Fremont Union High School District 2011 $16,090,108 $99,540,000 29.4 6.2
    Fresno Fresno Unified School District 2011 $55,570,915 $260,458,191 29.8 4.7
    Fresno Fresno Unified School District 2011 $25,614,850 $116,438,041 29.8 4.5
    Kern Fruitvale School District 2008 $2,571,159 $7,398,661 20.8 2.9
    Orange Garden Grove Unified School District 2010 $2,125,160 $6,500,000 10.9 3.1
    Los Angeles Garvey School District 2008 $8,317,964 $36,870,000 34.2 4.4
    Shasta Gateway Unified School District 2009 $2,725,718 $8,145,000 25.0 3.0
    Shasta Gateway Unified School District 2007 $3,472,074 $8,814,308 30.0 2.5
    Santa Clara Gilroy Unified School District 2010 $8,936,556 $12,545,000 3.0 1.4
    Santa Clara Gilroy Unified School District 2009 $2,351,615 $30,600,000 23.4 13.0
    Los Angeles Glendale Community College District 2011 $1,266,453 $1,705,000 6.3 1.3
    Los Angeles Glendale Unified School District 2011 $44,974,986 $194,625,000 30.1 4.3
    Los Angeles Glendora Unified School District 2009 $7,384,186 $49,000,000 30.4 6.6
    El Dorado Gold Oak Union School District 2009 $272,344 $1,550,000 18.4 5.7
    Madera Golden Valley Unified School District 2008 $49,715 $445,000 19.9 9.0
    Madera Golden Valley Unified School District 2007 $5,159,992 $14,220,925 28.5 2.8
    Madera Golden Valley Unified School District 2007 $11,369,336 $56,585,000 39.5 5.0
    Monterey Gonzales Unified School District 2007 $2,498,881 $7,780,000 25.0 3.1
    Sacramento Grant Joint Union High School District 2008 $13,483,991 $49,230,000 24.6 3.7
    Sacramento Grant Joint Union High School District 2008 $28,904,157 $97,650,478 34.2 3.4
    Kern Greenfield Union Elementary School District (Kern Co) 2007 $2,128,406 $8,070,000 25.2 3.8
    Monterey Greenfield Union School District 2010 $481,771 $850,000 10.8 1.8
    San Diego Grossmont Union High School District 2008 $27,429,578 $90,120,000 25.0 3.3
    San Diego Grossmont-Cuyamaca Community College District 2008 $52,000,377 $154,840,000 23.2 3.0
    San Diego Grossmont-Cuyamaca Community College District 2008 $7,650,749 $17,595,000 8.2 2.3
    Kings Hanford Joint Union High School District 2008 $4,660,000 $22,510,000 28.0 4.8
    Shasta Happy Valley Union Elementary School District 2011 $1,802,262 $2,350,000 4.6 1.3
    Shasta Happy Valley Union Elementary School District 2009 $1,996,812 $5,255,000 24.2 2.6
    Stanislaus Hart-Ransom Union School District 2008 $2,149,767 $13,065,374 40.0 6.1
    Monterey Hartnell Community College District 2009 $35,106,469 $402,950,706 24.9 11.5
    Monterey Hartnell Community College District 2009 $3,366,499 $9,865,000 19.1 2.9
    Los Angeles Hawthorne School District 2009 $1,770,001 $4,750,000 16.9 2.7
    Los Angeles Hawthorne School District 2008 $6,716,599 $48,323,193 40.0 7.2
    Alameda Hayward Unified School District 2010 $20,969,877 $130,855,000 30.1 6.2
    San Bernardino Helendale School District 2009 $298,337 $1,040,000 14.8 3.5
    San Mateo Hillsborough City School District 2011 $19,660,012 $140,350,000 34.6 7.1
    San Mateo Hillsborough City School District 2008 $20,749,696 $24,795,000 5.0 1.2
    Imperial Holtville Unified School District 2010 $536,408 $3,430,000 30.0 6.4
    Santa Barbara Hope Elementary School District 2010 $2,999,860 $12,415,000 29.9 4.1
    Napa Howell Mountain Elementary School District 2007 $1,195,296 $3,073,265 25.0 2.6
    Ventura Hueneme School District 2007 $1,469,996 $5,285,000 25.0 3.6
    Stanislaus Hughson Unified School District 2007 $3,260,096 $11,510,000 29.4 3.5
    Orange Huntington Beach Union High School District 2007 $20,946,090 $72,045,000 30.9 3.4
    Orange Huntington Beach Union High School District 2007 $17,221,204 $65,000,000 28.1 3.8
    Imperial Imperial Community College District 2011 $615,320 $1,580,000 16.6 2.6
    Imperial Imperial Community College District 2010 $14,000,956 $16,495,000 3.6 1.2
    Imperial Imperial Community College District 2009 $3,031,779 $9,670,000 24.3 3.2
    Imperial Imperial Community College District 2009 $5,866,919 $37,660,000 28.3 6.4
    Imperial Imperial Community College District 2007 $5,790,816 $16,435,000 24.8 2.8
    Orange Irvine Unified School District 2007 $17,441,620 $19,000,000 1.8 1.1
    Orange Irvine Unified School District 2007 $48,606,712 $61,600,000 4.8 1.3
    San Benito Jefferson School District 2011 $312,194 $1,550,000 21.2 5.0
    San Mateo Jefferson Union High School District 2011 $14,999,737 $126,725,000 30.5 8.4
    San Mateo Jefferson Union High School District 2009 $14,998,937 $39,270,000 21.1 2.6
    Contra Costa John Swett Unified School District 2011 $19,583 $140,000 16.9 7.1
    Contra Costa John Swett Unified School District 2009 $266,175 $3,020,000 24.9 11.3
    Fresno Kerman Unified School District 2009 $6,254,805 $40,565,000 35.0 6.5
    Fresno Kerman Unified School District 2007 $1,711,016 $5,445,000 24.9 3.2
    Kern Kernville Union School District 2008 $1,951,196 $10,020,000 31.2 5.1
    Kern Kernville Union School District 2007 $1,095,435 $3,025,000 24.9 2.8
    Stanislaus Keyes Union School District 2008 $1,936,824 $4,448,532 28.2 2.3
    Stanislaus Keyes Union School District 2007 $933,766 $2,351,451 24.9 2.5
    Monterey King City Union Elementary School District 2007 $3,577,399 $9,625,000 24.4 2.7
    Fresno Kings Canyon Joint Unified School District 2012 $8,474,303 $56,082,994 39.4 6.6
    Fresno Kings Canyon Joint Unified School District 2007 $6,714,773 $14,590,000 24.9 2.2
    Fresno Kings Canyon Joint Unified School District 2007 $2,404,966 $5,985,000 24.7 2.5
    Tulare Kings River Union Elementary School District 2007 $849,896 $1,665,000 24.3 2.0
    Tulare Kings River Union Elementary School District 2007 $849,896 $1,665,000 24.3 2.0
    Fresno Kingsburg Joint Union High School District 2008 $454,388 $2,520,000 24.4 5.5
    Lake Konocti Unified School District 2007 $1,364,981 $4,697,888 24.9 3.4
    San Mateo La Honda-Pescadero Unified School District 2009 $1,203,582 $3,080,000 22.0 2.6
    Riverside Lake Elsinore Unified School District 2007 $81,939 N/A 30.6
    Riverside Lake Elsinore Unified School District 2007 $98,445 N/A 27.6
    Riverside Lake Elsinore Unified School District 2007 $105,463 N/A 29.6
    Riverside Lake Elsinore Unified School District 2007 $55,618 N/A 25.6
    Riverside Lake Elsinore Unified School District 2007 $14,264 N/A 28.6
    Riverside Lake Elsinore Unified School District 2007 $48,113 N/A 28.6
    El Dorado Lake Tahoe Unified School District 2012 $878,171 $2,220,000 14.2 2.5
    El Dorado Lake Tahoe Unified School District 2010 $668,275 $4,806,311 24.3 7.2
    El Dorado Lake Tahoe Unified School District 2009 $5,856,058 $18,990,000 24.4 3.2
    Kings Lakeside Union School District 2009 $1,783,149 $6,945,000 18.3 3.9
    Kings Lakeside Union School District 2010 $12,982,209 $91,717,094 39.9 7.1
    Kern Lakeside Union School District (Kern Co) 2009 $3,427,362 $8,640,000 24.3 2.5
    Kern Lamont School District 2007 $1,149,903 $3,380,000 24.7 2.9
    Los Angeles Las Virgenes Unified School District 2011 $2,063,646 $10,765,000 19.2 5.2
    Los Angeles Las Virgenes Unified School District 2009 $3,656,222 $16,320,000 17.6 4.5
    San Diego Lemon Grove School District 2010 $3,131,655 $28,276,167 39.9 9.0
    Los Angeles Lennox School District 2007 $223,827 $1,360,000 20.6 6.1
    San Joaquin Lincoln Unified School District 2012 $567,123 $1,525,000 21.9 2.7
    San Joaquin Lincoln Unified School District 2008 $2,625,860 $6,981,304 24.9 2.7
    San Joaquin Lincoln Unified School District 2007 $3,667,885 $10,040,000 25.0 2.7
    San Joaquin Lincoln Unified School District 2007 $729,850 $1,020,000 5.7 1.4
    San Joaquin Lincoln Unified School District 2007 $145,753 $2,145,000 29.8 14.7
    Tulare Lindsay Unified School District 2008 $3,393,891 $13,949,282 29.7 4.1
    Tulare Lindsay Unified School District 2007 $2,892,221 $7,315,000 28.8 2.5
    Los Angeles Little Lake City School District 2010 $999,901 $5,300,000 19.1 5.3
    Santa Cruz Live Oak School District 2009 $153,974 $2,115,000 26.1 13.7
    Santa Barbara Lompoc Unified School District 2008 $1,440,971 $4,485,000 14.3 3.1
    Los Angeles Long Beach Community College District 2008 $23,383,981 $65,470,000 24.9 2.8
    Los Angeles Long Beach Community College District 2007 $27,449,987 $49,025,000 17.8 1.8
    Los Angeles Long Beach Unified School District 2008 $15,650,606 $48,075,000 25.0 3.1
    Orange Los Alamitos Unified School District 2012 $2,581,782 $5,300,800 30.1 2.1
    Orange Los Alamitos Unified School District 2011 $18,721,095 $21,750,000 5.0 1.2
    Orange Los Alamitos Unified School District 2010 $2,000,032 $8,825,000 23.8 4.4
    Los Angeles Los Nietos School District 2011 $3,067,002 $19,212,304 30.0 6.3
    Los Angeles Los Nietos School District 2008 $178,130 $2,000,000 24.8 11.2
    Santa Clara Luther Burbank School District 2012 $1,385,044 $13,645,000 39.3 9.9
    Santa Clara Luther Burbank School District 2008 $39,999 $140,000 24.6 3.5
    Santa Clara Luther Burbank School District 2008 $3,829,994 $21,175,000 39.6 5.5
    Santa Clara Luther Burbank School District 2007 $2,974,962 $6,580,000 24.4 2.2
    Madera Madera Unified School District 2007 $9,308,539 $23,550,000 24.4 2.5
    Orange Magnolia School District 2011 $3,225,040 $19,762,605 30.2 6.1
    Los Angeles Manhattan Beach Unified School District 2010 $4,007,599 $24,930,000 31.2 6.2
    Los Angeles Manhattan Beach Unified School District 2009 $7,651,589 $29,585,000 22.2 3.9
    Sonoma Mark West Union School District 2010 $1,548,714 $4,160,000 21.9 2.7
    Yuba Marysville Joint Unified School District 2012 $18,376,098 $56,385,000 29.9 3.1
    Yuba Marysville Joint Unified School District 2009 $3,883,777 $16,415,000 16.0 4.2
    Kern McFarland Unified School District 2008 $229,761 $1,310,000 24.0 5.7
    Humboldt McKinleyville Union School District 2011 $4,254,175 $56,997,805 39.4 13.4
    Mendocino Mendocino Unified School District 2007 $5,174,522 $13,470,000 24.4 2.6
    Mendocino Mendocino-Lake Community College District 2011 $15,682,090 $177,162,542 40.0 11.3
    Riverside Menifee Union School District 2009 $4,655,000 $35,600,000 30.4 7.6
    San Mateo Menlo Park City School District 2010 $13,772,019 $57,890,000 32.3 4.2
    San Mateo Menlo Park City School District 2008 $24,264,728 $91,495,000 35.0 3.8
    Merced Merced Union High School District 2011 $30,489,821 $233,596,840 39.6 7.7
    Merced Merced Union High School District 2011 $462,565 $2,820,000 16.5 6.1
    Merced Merced Union High School District 2009 $1,439,944 $10,970,000 25.0 7.6
    Lake Middletown Unified School District 2009 $825,154 $1,705,441 14.5 2.1
    Lake Middletown Unified School District 2008 $2,601,431 $6,651,293 19.7 2.6
    Lake Middletown Unified School District 2007 $1,439,987 $1,885,000 3.4 1.3
    San Mateo Millbrae School District 2011 $2,914,527 $19,385,000 30.3 6.7
    Kern Mojave Unified School District 2010 $2,380,435 $2,720,000 3.0 1.1
    Kern Mojave Unified School District 2009 $252,098 $2,830,000 24.5 11.2
    Kern Mojave Unified School District 2008 $7,502,688 $13,145,000 15.3 1.8
    Kern Mojave Unified School District 2008 $1,798,695 $7,425,000 21.4 4.1
    Los Angeles Monrovia Unified School District 2010 $3,016,250 $20,593,049 25.6 6.8
    Los Angeles Monrovia Unified School District 2009 $3,016,664 $15,650,000 24.2 5.2
    Monterey Monterey Peninsula Community College District 2008 $51,564,770 $130,130,000 25.6 2.5
    Monterey Monterey Peninsula Community College District 2008 $564,530 $1,000,000 7.6 1.8
    Monterey Monterey Peninsula Unified School District 2011 $2,654,104 $9,315,000 19.4 3.5
    Ventura Moorpark Unified School District 2011 $14,663,952 $92,640,000 30.8 6.3
    Ventura Moorpark Unified School District 2009 $11,000,537 $35,135,000 24.5 3.2
    Santa Clara Moreland School District 2012 $1,144,810 $3,035,000 12.3 2.7
    Santa Clara Moreland School District 2011 $11,499,683 $13,925,000 5.0 1.2
    Riverside Moreno Valley Unified School District 2007 $5,863,521 $33,850,000 18.3 5.8
    San Bernardino Morongo Unified School District 2012 $4,783,525 $16,020,000 27.3 3.3
    Santa Clara Mountain View-Los Altos Union High School District 2012 $10,647,986 $18,000,000 15.1 1.7
    Santa Clara Mountain View-Los Altos Union High School District 2010 $2,001,945 $2,305,000 7.9 1.2
    Santa Clara Mountain View-Los Altos Union High School District 2010 $8,555,263 $16,280,000 15.9 1.9
    Contra Costa Mt Diablo Unified School District 2011 $943,582 $1,790,000 7.3 1.9
    Contra Costa Mt Diablo Unified School District 2010 $2,997,216 $9,710,000 11.9 3.2
    Santa Clara Mt Pleasant Elementary School District 2007 $1,334,992 $3,290,000 9.4 2.5
    Los Angeles Mt San Antonio Community College District 2008 $5,938,609 $7,745,000 9.9 1.3
    Riverside Murrieta Valley Unified School District 2008 $20,921,844 $70,070,000 25.0 3.3
    Napa Napa Valley Community College District 2007 $43,799,997 $124,150,000 27.0 2.8
    Napa Napa Valley Unified School District 2010 $7,122,270 $28,140,000 23.5 4.0
    Napa Napa Valley Unified School District 2009 $21,877,730 $154,540,960 39.8 7.1
    Sacramento Natomas Unified School District 2007 $25,879,999 $56,430,000 23.0 2.2
    San Bernardino Needles Unified School District 2011 $561,278 $1,832,899 25.0 3.3
    San Bernardino Needles Unified School District 2008 $635,424 $3,820,000 24.9 6.0
    Alameda New Haven Unified School District 2012 $8,158,104 $25,650,000 11.1 3.1
    Alameda New Haven Unified School District 2009 $25,000,928 $123,385,000 25.0 4.9
    Alameda New Haven Unified School District 2008 $9,999,522 $34,080,000 23.2 3.4
    Los Angeles Newhall School District 2012 $19,995,858 $22,510,000 4.9 1.1
    Stanislaus Newman-Crows Landing Unified School District 2010 $2,544,104 $8,795,000 25.2 3.5
    Stanislaus Newman-Crows Landing Unified School District 2009 $1,857,929 $3,805,000 14.2 2.0
    Orange Newport-Mesa Unified School District 2011 $83,071,704 $547,646,431 35.2 6.6
    Kern Norris School District 2012 $2,538,114 $8,300,000 25.2 3.3
    Sacramento North Sacramento School District 2007 $5,999,599 $10,885,000 24.9 1.8
    Humboldt Northern Humboldt Union High School District 2011 $195,223 $1,975,000 25.4 10.1
    Los Angeles Norwalk-La Mirada Unified School District 2009 $13,541,324 $76,735,851 28.8 5.7
    Los Angeles Norwalk-La Mirada Unified School District 2009 $9,410,103 $43,775,000 24.6 4.7
    Los Angeles Norwalk-La Mirada Unified School District 2007 $13,085,602 $42,820,000 24.7 3.3
    Santa Clara Oak Grove School District 2011 $18,249,429 $94,520,162 30.0 5.2
    Santa Clara Oak Grove School District 2009 $19,999,923 $61,935,000 24.2 3.1
    Ventura Oak Park Unified School District 2011 $1,460,798 $3,490,000 25.1 2.4
    Ventura Oak Park Unified School District 2009 $2,938,202 $11,850,000 24.3 4.0
    Ventura Oak Park Unified School District 2007 $146,137 $580,000 20.9 4.0
    San Joaquin Oak View Union Elementary School District 2010 $968,329 $3,830,000 36.1 4.0
    Orange Ocean View School District 2008 $2,245,247 $7,765,060 24.7 3.5
    San Diego Oceanside Unified School District 2012 $14,998,071 $108,471,673 39.3 7.2
    San Diego Oceanside Unified School District 2010 $29,999,991 $279,650,996 39.2 9.3
    San Diego Oceanside Unified School District 2009 $25,095,054 $76,290,000 22.4 3.0
    San Bernardino Ontario-Montclair School District 2009 $3,770,263 $13,095,000 20.7 3.5
    San Bernardino Ontario-Montclair School District 2008 $1,299,994 $5,590,000 24.5 4.3
    Santa Clara Orchard School District 2010 $918,472 $3,830,000 17.6 4.2
    Santa Clara Orchard School District 2009 $1,330,303 $2,955,000 12.9 2.2
    Glenn Orland Joint Unified School District 2012 $2,553,978 $4,690,000 20.4 1.8
    Glenn Orland Unified School District 2010 $667,019 $840,000 2.0 1.3
    Butte Oroville Union High School District 2009 $1,279,964 $7,720,000 24.4 6.0
    Inyo Owens Valley Unified School District 2008 $1,005,394 $3,266,638 24.8 3.2
    Ventura Oxnard School District 2008 $7,077,467 $24,630,000 24.9 3.5
    Ventura Oxnard Union High School District 2008 $9,266,916 $9,705,000 2.0 1.0
    Shasta Pacheco Union School District 2009 $214,956 $2,205,000 25.0 10.3
    Shasta Pacheco Union School District 2007 $2,881,306 $7,633,768 29.9 2.6
    Santa Clara Pacific Valleys Schools Financing Authority 2009 $2,152,408 $2,485,000 3.0 1.2
    Santa Clara Palo Alto Unified School District 2008 $109,414,249 $277,865,000 24.9 2.5
    San Diego Palomar Community College District 2010 $27,883,490 $85,770,000 24.8 3.1
    Los Angeles Palos Verdes Peninsula Unified School District 2009 $6,994,337 $27,325,000 24.8 3.9
    Los Angeles Paramount Unified School District 2011 $11,054,099 $57,302,218 30.7 5.2
    San Luis Obispo Paso Robles Joint Unified School District 2010 $3,700,127 $25,830,814 35.3 7.0
    San Luis Obispo Paso Robles Joint Unified School District 2007 $889,871 $4,180,000 24.1 4.7
    Stanislaus Patterson Joint Unified School District 2009 $9,590,444 $96,565,000 40.0 10.1
    Stanislaus Patterson Joint Unified School District 2009 $6,557,498 $23,090,000 24.4 3.5
    Riverside Perris Elementary School District 2007 $149,571 $1,620,000 25.0 10.8
    Alameda Piedmont Unified School District 2010 $11,997,665 $14,385,000 4.9 1.2
    Sonoma Piner-Olivet Union School District 2011 $418,225 $4,160,000 24.5 9.9
    Contra Costa Pittsburg Unified School District 2012 $9,663,211 $79,760,000 40.0 8.3
    Contra Costa Pittsburg Unified School District Financing Authority 2011 $9,999,952 $66,700,000 31.2 6.7
    Orange Placentia-Yorba Linda Unified School District 2011 $22,128,918 $281,755,804 38.3 12.7
    Orange Placentia-Yorba Linda Unified School District 2009 $26,493,547 $157,269,152 31.8 5.9
    Merced Planada Elementary School District 2009 $847,984 $10,724,247 39.9 12.6
    Merced Planada Elementary School District 2009 $146,955 $1,460,000 25.0 9.9
    Tulare Porterville Unified School District 2007 $5,302,986 $19,635,000 29.7 3.7
    Tulare Porterville Unified School District 2007 $525,620 $970,000 9.7 1.8
    San Diego Poway Unified School District 2011 $105,000,150 $981,562,328 40.0 9.3
    San Diego Poway Unified School District 2010 $24,998,007 $26,270,000 1.7 1.1
    San Diego Poway Unified School District 2009 $3,698,554 $5,130,000 7.6 1.4
    San Diego Poway Unified School District 2009 $73,998,936 $260,725,000 24.6 3.5
    San Diego Poway Unified School District 2007 $7,689,087 $16,895,140 33.3 2.2
    San Diego Poway Unified School District 2007 $1,598,847 $4,861,619 25.3 3.0
    San Diego Poway Unified School District Public Financing Authority 2007 $34,783,991 $38,900,000 32.3 1.1
    San Diego Rancho Santa Fe School District 2008 $1,034,042 $2,840,000 23.0 2.7
    San Diego Rancho Santa Fe School District 2008 $3,402,571 $5,345,000 10.0 1.6
    San Bernardino Redlands Unified School District 2008 $1,821,272 $4,665,000 10.0 2.6
    Los Angeles Redondo Beach Unified School District 2011 $3,355,771 $8,417,279 17.1 2.5
    Los Angeles Redondo Beach Unified School District 2010 $269,172 $2,195,000 19.9 8.2
    Los Angeles Redondo Beach Unified School District 2009 $1,680,551 $4,000,000 14.7 2.4
    Los Angeles Redondo Beach Unified School District 2008 $734,958 $2,145,000 10.1 2.9
    El Dorado Rescue Union School District 2007 $3,802,070 $11,440,000 24.9 3.0
    San Bernardino Rialto Unified School District 2011 $10,043,817 $55,304,176 25.4 5.5
    Kern Richland School District 2009 $6,899,162 $52,479,044 39.7 7.6
    Kern Richland School District 2009 $1,004,597 $3,220,000 24.3 3.2
    San Bernardino Rim of the World Unified School District 2011 $461,379 $6,500,000 29.7 14.1
    San Bernardino Rim of the World Unified School District 2010 $283,612 $6,650,000 28.6 23.4
    San Bernardino Rim of the World Unified School District 2009 $300,005 $3,550,000 24.1 11.8
    Kern Rio Bravo-Greeley Union Elementary School District 2010 $1,285,357 $6,915,000 27.9 5.4
    Kern Rio Bravo-Greeley Union Elementary School District 2008 $2,148,592 $4,190,938 21.4 2.0
    Ventura Rio Elementary School District 2007 $706,187 $970,000 4.2 1.4
    Los Angeles Rio Hondo Community College District 2010 $18,806,028 $104,630,000 27.6 5.6
    Los Angeles Rio Hondo Community College District 2009 $4,806,844 $22,195,000 24.4 4.6
    Sacramento River Delta Unified School District 2008 $3,300,015 $19,510,582 39.9 5.9
    Stanislaus Riverbank Unified School District 2008 $474,512 $1,935,000 20.0 4.1
    Stanislaus Riverbank Unified School District 2008 $3,870,215 $30,404,923 40.0 7.9
    Stanislaus Riverbank Unified School District 2008 $518,990 $2,480,000 25.0 4.8
    Riverside Riverside Community College District 2010 $7,699,278 $15,920,000 14.8 2.1
    Sacramento Robla School District 2011 $4,860,221 $20,704,876 24.6 4.3
    Sacramento Robla School District 2007 $5,454,940 $14,635,000 24.5 2.7
    Placer Rocklin Unified School District 2007 $673,381 $2,080,000 30.8 3.1
    Placer Rocklin Unified School District 2007 $9,049,968 $24,650,000 30.7 2.7
    Humboldt Rohnerville School District 2012 $1,853,788 $10,143,021 35.4 5.5
    Sonoma Roseland School District 2008 $873,214 $2,530,000 28.2 2.9
    Placer Roseville Joint Union High School District 2011 $1,080,624 $5,505,000 28.3 5.1
    Placer Roseville Joint Union High School District 2007 $10,622,959 $28,145,000 24.3 2.6
    Marin Ross Valley School District 2011 $1,160,426 $5,680,000 27.2 4.9
    Los Angeles Rowland Unified School District 2009 $19,272,549 $107,346,322 32.8 5.6
    Sacramento Sacramento City Unified School District 2007 $26,077,966 $67,495,000 24.7 2.6
    San Bernardino San Bernardino City Unified School District 2011 $11,525,419 $91,310,000 31.4 7.9
    San Bernardino San Bernardino City Unified School District 2011 $5,477,434 $40,635,000 24.4 7.4
    San Bernardino San Bernardino City Unified School District 2007 $7,187,217 $20,990,000 24.4 2.9
    San Bernardino San Bernardino Community College District 2009 $56,468,107 $492,548,115 39.1 8.7
    San Bernardino San Bernardino Community College District 2009 $4,999,797 $28,890,000 24.1 5.8
    San Mateo San Carlos School District 2008 $4,036,332 $13,800,000 24.8 3.4
    San Diego San Diego Community College District 2011 $16,449,859 $91,955,000 30.1 5.6
    San Diego San Diego Community College District 2007 $20,191,823 $27,885,000 10.0 1.4
    San Diego San Diego Unified School District 2012 $58,612,561 $338,741,690 39.1 5.8
    San Diego San Diego Unified School District 2012 $65,434,442 $164,690,000 19.3 2.5
    San Diego San Diego Unified School District 2010 $88,870,485 $630,400,000 36.9 7.1
    San Diego San Diego Unified School District 2009 $57,988,744 $166,995,000 22.2 2.9
    Los Angeles San Gabriel Unified School District 2012 $12,348,464 $31,215,000 25.3 2.5
    Los Angeles San Gabriel Unified School District 2008 $588,245 $965,000 9.0 1.6
    Los Angeles San Gabriel Unified School District 2007 $4,982,878 $17,620,000 25.1 3.5
    San Joaquin San Joaquin Delta Community College District 2008 $86,545,582 $223,735,000 17.1 2.6
    Santa Clara San Jose-Evergreen Community College District 2008 $23,634,946 $55,075,000 24.5 2.3
    Alameda San Leandro Unified School District 2010 $5,692,878 $27,590,000 25.5 4.8
    Santa Cruz San Lorenzo Valley Unified School District 2008 $3,518,207 $12,480,000 24.9 3.5
    San Diego San Marcos School Financing Authority 2010 $2,483,327 $10,870,000 24.2 4.4
    San Diego San Marcos Unified School District 2012 $64,995,522 $403,040,634 39.3 6.2
    San Diego San Marcos Unified School District 2011 $25,346,476 $58,170,000 21.1 2.3
    San Mateo San Mateo Union High School District 2012 $40,150,000 $42,510,000 3.0 1.1
    San Mateo San Mateo Union High School District 2012 $5,055,752 $13,515,000 25.6 2.7
    San Mateo San Mateo Union High School District 2011 $2,840,441 $9,950,000 23.2 3.5
    San Mateo San Mateo Union High School District 2011 $6,032,768 $13,375,000 17.2 2.2
    San Mateo San Mateo Union High School District 2011 $24,850,000 $29,745,000 4.0 1.2
    San Mateo San Mateo-Foster City School District 2010 $1,295,938 $4,770,000 15.5 3.7
    San Diego San Ysidro School District 2011 $15,599,623 $228,945,000 39.1 14.7
    San Diego San Ysidro School District 2007 $14,137,741 $44,880,000 24.7 3.2
    Orange Santa Ana Unified School District 2010 $2,146,011 $5,875,000 9.7 2.7
    Orange Santa Ana Unified School District 2009 $34,861,114 $340,330,102 37.7 9.8
    Orange Santa Ana Unified School District 2008 $5,762,856 $22,700,000 16.0 3.9
    Santa Barbara Santa Barbara Elementary School District 2011 $6,980,376 $39,900,956 30.2 5.7
    Santa Barbara Santa Barbara Secondary/High School District 2011 $15,789,211 $95,322,402 30.2 6.0
    Santa Barbara Santa Barbara Unified School District 2012 $3,756,427 $12,920,953 30.2 3.4
    Los Angeles Santa Clarita Community College District 2007 $22,892,270 $110,240,000 31.2 4.8
    Los Angeles Santa Monica Community College District 2010 $10,998,992 $20,885,000 16.5 1.9
    Los Angeles Santa Monica Community College District 2009 $26,112,857 $76,920,000 20.4 2.9
    Los Angeles Santa Monica Community College District 2007 $15,589,854 $21,865,000 7.5 1.4
    Los Angeles Santa Monica Community College District 2007 $24,404,768 $41,355,000 7.5 1.7
    Los Angeles Santa Monica Community College District 2007 $11,999,987 $24,595,000 24.5 2.0
    Ventura Santa Paula Union High School District 2012 $421,690 $750,000 8.2 1.8
    Monterey Santa Rita Union Elementary School District 2008 $2,665,685 $13,242,592 25.1 5.0
    Monterey Santa Rita Union Elementary School District 2007 $318,838 $845,000 9.8 2.7
    Sonoma Santa Rosa High School District 2008 $3,096,013 $8,840,000 28.0 2.9
    San Diego Santee School District 2011 $3,534,307 $58,559,818 40.0 16.6
    San Diego Santee School District 2008 $879,849 $2,760,000 23.0 3.1
    San Diego Santee School District 2008 $2,869,039 $7,370,000 24.9 2.6
    San Diego Santee School District 2008 $7,840,155 $55,232,155 39.9 7.0
    San Diego Santee School District 2008 $1,145,077 $2,065,000 10.9 1.8
    Orange Savanna Elementary School District 2012 $4,197,287 $34,816,387 40.0 8.3
    Orange Savanna Elementary School District 2012 $1,204,020 $9,260,000 30.5 7.7
    Orange Savanna Elementary School District 2010 $944,113 $1,185,000 2.0 1.3
    Orange Savanna Elementary School District 2009 $239,721 $3,595,000 25.0 15.0
    Orange Savanna Elementary School District 2009 $2,823,226 $3,970,000 3.0 1.4
    Fresno Selma Unified School District 2009 $3,000,008 $15,970,000 29.9 5.3
    Fresno Selma Unified School District 2007 $1,947,061 $6,075,000 24.7 3.1
    Placer Sierra Joint Community College District 2007 $22,136,516 $51,575,000 25.0 2.3
    Placer Sierra Joint Community College District 2007 $4,535,972 $14,150,000 25.0 3.1
    Kern Sierra Sands Unified School District 2008 $3,426,532 $14,215,763 24.9 4.1
    Ventura Simi Valley Unified School District 2007 $34,080,619 $99,965,000 24.8 2.9
    Ventura Simi Valley Unified School District 2007 $2,587,236 $3,465,923 7.1 1.3
    Siskiyou Siskiyou Joint Community College District 2010 $998,755 $1,225,000 3.9 1.2
    Siskiyou Siskiyou Joint Community College District 2008 $444,344 $2,075,000 24.3 4.7
    Siskiyou Siskiyou Joint Community College District 2008 $5,504,344 $41,670,000 39.3 7.6
    Siskiyou Siskiyou Union High School District 2009 $3,499,889 $20,113,448 39.6 5.7
    Siskiyou Siskiyou Union High School District 2009 $594,341 $1,080,000 8.3 1.8
    Sonoma Sonoma Valley Unified School District 2010 $4,003,881 $13,955,000 19.6 3.5
    Tuolumne Sonora School District 2011 $160,550 $985,000 20.2 6.1
    Los Angeles South Pasadena Unified School District 2010 $4,804,680 $19,810,000 24.3 4.1
    San Mateo South San Francisco Unified School District 2012 $56,001,757 $61,100,000 5.0 1.1
    Humboldt Southern Humboldt Joint Unified School District 2011 $2,610,667 $13,535,000 29.7 5.2
    Kern Southern Kern Unified School District 2012 $1,394,309 $1,675,000 10.4 1.2
    Kern Southern Kern Unified School District 2010 $4,705,719 $45,837,085 40.0 9.7
    Kern Southern Kern Unified School District 2008 $1,191,633 $7,256,727 24.9 6.1
    San Diego Southwestern Community College District 2011 $10,375,371 $116,050,002 35.2 11.2
    Napa St Helena Unified School District 2011 $837,426 $4,785,000 17.1 5.7
    Stanislaus Stanislaus Union School District 2011 $3,788,479 $18,410,000 29.0 4.9
    San Joaquin Stockton Unified School District 2011 $31,230,643 $239,640,000 37.2 7.7
    Tulare Stone Corral Elementary School District 2008 $106,956 $785,000 39.9 7.3
    Santa Clara Sunnyvale School District 2012 $14,998,663 $68,025,000 30.5 4.5
    Lassen Susanville School District 2009 $2,162,840 $15,931,291 39.6 7.4
    Lassen Susanville School District 2009 $259,905 $1,195,000 25.0 4.6
    Sutter Sutter Union High School District 2010 $5,702,800 $45,626,783 40.0 8.0
    Stanislaus Sylvan Union School District 2010 $2,102,815 $10,805,000 27.2 5.1
    Tulare Terra Bella Union Elementary School District 2009 $146,454 $1,290,000 24.6 8.8
    Los Angeles Torrance Unified School District 2011 $2,014,993 $3,875,000 7.3 1.9
    Los Angeles Torrance Unified School District 2009 $15,545,282 $55,236,092 10.8 3.6
    Los Angeles Torrance Unified School District 2009 $4,584,106 $21,400,000 16.8 4.7
    San Joaquin Tracy Joint Unified School District 2011 $968,988 $4,745,000 24.3 4.9
    Orange Tustin Unified School District 2010 $4,799,464 $7,510,000 10.5 1.6
    Orange Tustin Unified School District 2008 $5,524,972 $8,285,000 10.1 1.5
    Orange Tustin Unified School District 2007 $61,577,670 $77,000,000 4.2 1.3
    Sonoma Twin Hills Union School District 2011 $1,334,964 $7,360,000 25.4 5.5
    Sacramento Twin Rivers Unified School District 2009 $29,092,440 $39,000,000 2.9 1.3
    Mendocino Ukiah Unified School District 2007 $8,672,987 $31,975,000 24.7 3.7
    San Bernardino Upland Unified School District 2011 $14,912,923 $182,010,490 39.4 12.2
    San Bernardino Upland Unified School District 2009 $11,999,981 $72,066,491 31.9 6.0
    San Bernardino Upland Unified School District 2008 $9,947,404 $34,695,000 24.8 3.5
    Solano Vacaville Unified School District 2008 $4,392,173 $13,910,000 24.0 3.2
    Riverside Val Verde Unified School District 2010 $404,804 $1,552,618 22.5 3.8
    Ventura Ventura County Community College District 2008 $34,422,814 $101,460,000 19.8 2.9
    San Bernardino Victor Elementary School District 2009 $1,874,831 $10,025,000 18.6 5.3
    San Bernardino Victor Valley Community College District 2009 $20,750,018 $237,365,335 39.9 11.4
    San Bernardino Victor Valley Community College District 2009 $1,929,963 $5,410,000 10.2 2.8
    San Bernardino Victor Valley Union High School District 2009 $19,247,841 $42,290,000 18.9 2.2
    Kern Vineland Elementary School District 2007 $1,499,982 $11,075,000 39.7 7.4
    Contra Costa Walnut Creek School District 2010 $1,964,628 $3,630,000 13.3 1.8
    Los Angeles Walnut Valley Unified School District 2011 $11,317,861 $36,856,527 25.2 3.3
    Los Angeles Walnut Valley Unified School District 2011 $310,547 $1,655,509 25.2 5.3
    Los Angeles Walnut Valley Unified School District 2008 $65,887 $115,000 9.3 1.7
    Fresno Washington Unified School District 2007 $3,279,422 $9,560,000 24.4 2.9
    Merced Weaver Union Elementary School District 2007 $3,449,997 $25,045,000 40.0 7.3
    Merced Weaver Union Elementary School District 2007 $459,246 $1,380,000 25.0 3.0
    Contra Costa West Contra Costa Unified School District 2010 $2,499,949 $33,820,000 26.1 13.5
    Contra Costa West Contra Costa Unified School District 2009 $52,084,759 $190,830,000 24.0 3.7
    Fresno West Hills Community College District 2012 $606,718 $1,425,000 10.2 2.3
    Fresno West Hills Community College District 2012 $157,059 $305,000 9.2 1.9
    Fresno West Hills Community College District 2011 $448,135 $1,405,000 13.5 3.1
    Fresno West Hills Community College District 2009 $1,808,812 $2,580,000 3.1 1.4
    Fresno West Hills Community College District 2009 $1,044,837 $1,985,000 11.4 1.9
    Fresno West Hills Community College District 2009 $618,815 $1,060,000 10.4 1.7
    Fresno West Hills Community College District 2008 $1,094,677 $3,226,061 24.8 2.9
    Kern County West Kern Community College District 2007 $1,062,305 $3,085,000 15.1 2.9
    Sonoma West Sonoma County Union High School District 2011 $4,351,794 $22,300,000 31.2 5.1
    Santa Clara West Valley-Mission Community College District 2009 $9,579,692 $15,865,000 8.2 1.7
    Orange Westminster School District 2009 $13,755,681 $28,910,000 19.9 2.1
    Los Angeles Westside Union School District 2010 $11,523,931 $106,107,904 40.0 9.2
    Los Angeles Westside Union School District 2009 $8,799,852 $31,720,000 24.9 3.6
    Los Angeles Whittier Union High School District 2009 $37,266,949 $126,785,862 24.9 3.4
    Los Angeles William S Hart Union High School District 2011 $26,737,734 $101,015,000 24.7 3.8
    Los Angeles William S Hart Union High School District 2009 $42,704,766 $163,919,566 24.2 3.8
    Mendocino Willits Unified School District 2010 $3,787,054 $21,915,000 31.0 5.8
    Sonoma Windsor Unified School District 2011 $9,432,107 $44,255,000 30.1 4.7
    Los Angeles Wiseburn School District 2011 $5,684,840 $21,482,343 23.3 3.8
    Los Angeles Wiseburn School District 2010 $959,794 $3,060,000 14.6 3.2
    Los Angeles Wiseburn School District 2008 $6,890,712 $25,850,000 24.9 3.8
    Los Angeles Wiseburn School District 2007 $13,736,687 $44,325,000 25.0 3.2
    Tulare Woodlake Union High School District 2008 $303,780 $1,713,809 28.0 5.6
    Tulare Woodlake Union High School District 2008 $1,214,906 $4,713,134 25.0 3.9
    San Mateo Woodside Elementary School District 2007 $2,499,999 $9,640,000 30.7 3.9
    Stanislaus Yosemite Community College District 2008 $40,000,000 $81,335,000 17.3 2.0
    Tuolumne Yosemite Community College District 2010 $20,865,753 $107,650,000 30.2 5.2
    Yolo Yuba Community College District 2007 $8,749,047 $21,395,000 24.2 2.4
    Yuba Yuba Community College District 2011 $4,630,795 $58,850,000 39.1 12.7
    Yuba Yuba Community College District 2007 $15,142,278 $75,505,000 37.2 5.0

    Sources: California Treasurer’s Office

    Credits: Maloy Moore, Doug Smith, Dan Weikel, Ben Welsh

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