From the San Ramon Valley Unified School District
The first of four Bond sales related to the November passage of the Measure D School Facilities Bond has been completed, allowing the San Ramon Valley Unified School District to proceed with its first phase of school facilities projects.
The sale of the first series of Measure D Bonds on Feb. 14 generated net proceeds of nearly $75 million at an interest cost of 3.53 percent.
The favorable interest rate environment combined with the refinancing of previously issued bonds late last year enabled the district to sell this first series of bonds and move forward with critical facilities projects while keeping within the maximum tax rate pledge to voters of $75 per $100,000 of assessed home valuation.
“We have worked very hard to keep tax rates stable and as low as possible,” said Superintendent Mary Shelton. “Now, with the sale of this first series of bonds, our community will soon start to see some real progress on many of the projects in the Measure D program.”
Measure D, approved by voters in November, authorized the total sale of $260 million in General Obligation Bonds. The Bond sales will occur in four stages over the next 6 to 8 years, and will enable the district to upgrade several older campuses, continue to modernize high schools, increase capacity in some parts of the district and expand technology infrastructure district-wide.
For a list of Measure D projects and project estimates, visit the SRVUSD website at http://www.srvusd.net/measure_d.