Press release from the Perris Union High School District:
Perris Union High School District taxpayers will save more than $2.4 million after the district refinanced existing general obligation bonds at lower interest rates — with all savings returning directly to the community.
The district refinanced a combination of higher-interest Current Interest Bonds and Capital Appreciation Bonds, resulting in $2.4 million in taxpayer cash-flow savings and $1.97 million in present value savings. A total of $10.98 million in refunding bonds was issued. The savings will be reflected in the tax bill automatically by the County Auditor Controller each year. Taxpayers will notice the change as early as October 2026 when they see the upcoming year’s tax bills.
“Our community trusted us with these bond measures, and we take that responsibility seriously,” said Dr. Marguerite Williams, assistant superintendent of business services. “Refinancing at lower interest rates allows us to reduce long-term costs without impacting our schools or extending the life of the bonds.”
The refunding generated strong investor demand and coincided with Moody’s Ratings maintaining the District’s Aa3 bond rating — a reflection of PUHSD’s solid financial position and responsible fiscal management.
Since voters approved Measure T in 2012 and Measure W in 2018, the District has issued three separate series of refunding bonds, generating total taxpayer savings of more than $15 million. The most recent prior refunding, completed in August 2021, saved taxpayers $8.4 million in cash-flow savings.
“This action demonstrates transparency, accountability, and a continued focus on doing what is financially prudent for Perris and Menifee taxpayers,” said Superintendent Dr. Jose Luis Araux. “We are proud to deliver meaningful savings while maintaining strong educational programs for our students.”
Measure T ($153.42 million) and Measure W ($148 million) have funded significant improvements across the district, including 36 new academic and career training facilities, 20 major renovations, expanded parking, and extensive safety and accessibility upgrades. As the bond program winds down and enrollment continues to grow, these investments have strengthened campuses and enhanced learning environments throughout the Perris community.
Board President Edward Garcia said, “This refinancing reflects the board’s ongoing commitment to fiscal stewardship and responsible management of public resources — ensuring that taxpayer dollars are maximized in support of students and the community.”
