Measure G Bond
The District’s $198,250,000 General Obligation Bond (Measure G) successfully passed in the November 6, 2012 election, enabling the District to finance technology and facility improvements. On February 21, 2013, the District successfully sold $55 million of bonds, Series “A”, for the funding of these improvements. The current interest structure allowed a True Interest Cost (TIC) of 3.6431% for the 30 year financing. Based on the assessment provided by Cumming, our facilities consultant, staff has prioritized the first $55 million of bond proceeds into the following five categories: Major Maintenance & Repairs, Modernize School Facilities, Safety & Code Upgrades, Technology, and Cost Savings. The 2013 summer bond projects will include the Burnett modernization, Charter School multipurpose room, the Britton fencing project (in cooperation with Home & School Club), and various roofing projects.