The rating on Encinitas Union School District, Calif.'s bonds reflects the following strengths: * A wealthy and diverse residential taxpayer base, * Very good financial performance, and * A moderate debt burden. These strengths are offset by a relatively long amortization schedule. The school district is along six miles of beachfront in northern San Diego County. While predominantly residential in nature, diverse employment opportunities are available throughout the county. The commute to San Diego was made easier in 1995 with the start of a commuter railroad which makes stops in Encinitas and Carlsbad. The local economy centers on resorts and specialty agriculture. Wealth levels are high at 132.5% and 135.9% of the state and national figures, respectively. Per capita market
