SDUSD borrows $240 million in wake of state cuts
The San Diego Unified School District (SDUSD) has sold $240 million Tax and Revenue Anticipation Notes (TRANs) for fiscal year 2012-13 to cover the fiscal gap left by the lack of, and delayed, state funding. The negotiated sale occurred Aug. 1, and the TRANs were issued with two maturity dates: Jan. 31, 2013 for $155…