Bond Issuance and Plan of Finance
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The District’s successful 2024 referendum authorized the Board to issue up to $420 million of bonds to finance capital projects throughout the district. The District must issue the bonds within 5 years of the referendum, and all bond funds must be spent within 3 years of issuance. This effectively creates an eight year period from 2025 - 2032 for the District to complete, and pay for, the Safer, Stronger 204 Capital Program.
Administration presented to the Board a Plan of Finance at the October 21, 2024 Board of Education meeting, which can be viewed here:
Board Presentation Slides
Board Presentation Video
To date, the District’s plans are consistent with the original plan of finance.
The District’s main priorities in structuring the referendum bonds are:
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Maintain or lower the 2023 tax levy rate of 37 cents.
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Ensure funding is available to complete Safer, Stronger 204 capital projects consistent within the referendum timeline.
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Maintain a high credit rating and demonstrate creditworthiness to investors.
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Minimize the effective interest rate of borrowings.
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Minimize the repayment length of the borrowings.
The District completed the bond issuance in December, 2024 and July, 2025. The District anticipates future bonds will be issued in 2027 and 2029.