Teachers are named best in county
PHS grad mentors team to title
Blue Angels soar at MCAS Miramar this weekend
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VOL. 58, ISSUE 19
13760 POWAY ROAD • 858.486.2900
Council candidates spar over Mangum’s role in PUSD bonds
PHS TITANS CELEBRATE HOMECOMING BY EMILY SORENSEN With the big football game being held on Friday and the dance the following evening, Poway High School is getting into full homecoming fever. This week is Spirit Week, with the theme “Hollywood: A Red Carpet Event.” Each day features a dif ferent theme that the students can dress for, including Black and White, as well as lunch time activities. Float building is taking place under the bleachers 3 8:30 p.m. through Thursday, and the 10th annual parade will be held down Titan Way 11:30 a.m. Friday. The parade will feature the marching band, varsity fall athletes, drama club members, yearbook staff, the dance team, the football team, and the senior court members, as well as all the floats built by students earlier in the week. Following Friday night’s football game, a ceremony will be held to honor the senior homecoming court members, and announce the homecoming King and Queen. The homecoming dance will be held 8 - 11 p.m. Saturday, Oct. 13 in the PHS gym.
POWAY
BY STEVE DREYER
WHEN I GROW UP ... – Jacob Henderson enjoys the view from the front seat of a fire truck during the Poway Fire Department’s annual open house, held Saturday at the fire training complex in the business park. Photo by Beverley Brooks
City will save $4.2M with bond refunding BY STEVE DREYER The city will saving even more money than originally estimated by refinancing the 2003 bonds used to finance construction of City Hall. Members of the City Council were told Friday morning that Wednesday’s successful refinancing of $14.8 million of “certificates of participation” will save the city about $4.2 million over the remaining 20 years of the financing.
Pre-sale estimates pegged the savings figure at $4 million. Financial adviser T im Schaefer told the council the city’s offer attracted five bidders and that the low bid, by Citigroup Global Markets, had a “tr ue interest cost (roughly the same as an annual interest rate) of 2.995 percent. The second-lowest bidder, MorganStanley, came in at 3.036 percent. The two lowest bids also See CITY, Page 14
City Council candidates Steve Vaus and Jeff Mangum clashed briefly during Monday night’s candidate forum on the question of Mangum’s role in the Poway Unified School District bond controversy. Mangum restated his position that he was not on the school board in May 2011 when the board voted to proceed with the issuance of $105 million in school construction bonds. “I did not vote for the bond, period,” Mangum told about 75 people attending a forum in Old Poway Park. “Anyone who tells you otherwise is not telling the truth.” Vaus said Mangum voted to issue the bonds at the Oct. 11, 2010 PUSD board meeting, two months before his final term ended. “He helped light the stick of dynamite,” Vaus said of Mangum. The exchange took place in response to a question from the audience asking whether candidates felt the bond issue, along with the demise of the
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city’s redevelopment agency, would strain relationships between the city and the school district. The capital appreciation bonds, authorized by PUSD voters in February 2008, were sold in 2011 at interest rates of around 7 percent. Since interest was deferred and no payments will be made for 20 years, the bonds will cost taxpayers about $1 billion when paid off. That’s a ratio of about 9:1. Mangum on Monday night said that non-Mello-Roos taxpayers in the district are paying on average about $165 per year to repay school bonds. At the end of the 40-year period, they will be paying about $500 per year, he said, “not a crushing blow.” Meanwhile, property owners on the west side of the district, in Mello-
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