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Favorable Terms for Measure D Series 3 Bond Sale
Posted 1/15/19

 

The San Ramon Valley Unified School District is pleased to share that the final bond sale of the $260 million Measure D authorization was completed on December 3, 2018. This sale stands as the third and final bond series issuance of Measure D, a voter approved bond authorization passed in 2012. The sale generated the final $60 million in cash proceeds required to finance Measure D facilities projects and captured incredibly favorable financial terms for our community.   

 

The interest rate and the payback ratio secured in this final sale continue the District’s commitment to keep the total yearly cost to homeowners at or below $75 per $100,000 of assessed valuation. An average interest rate of 1.90% across the $60 million in bonds, combined with a payback ratio of 1.08 or just $64.9 million, maximizes the amount of community tax dollars invested directly into Measure D facilities projects.  

 

“We are very pleased with the financial terms of this sale, which represent a historically positive outcome for the taxpayers of the SRVUSD,” said SRVUSD Superintendent Rick Schmitt. “We are grateful to our community for their continued support and investment in our schools and students.”

 

This latest bond sale will provide the necessary cash flow to complete two of Measure D’s largest projects, the new classroom building at SRVHS, and the new classroom and MPR buildings at Stone Valley Middle School. Additionally, the bond sale will be used to complete the modernizations at Golden View, Montevideo, Ranch Romero, Vista Grande, and Green Valley Elementary Schools this summer, 2019. Lastly, the District will begin the modernization at Sycamore Elementary this summer 2019, as well as the modernizations at Alamo and Twin Creeks Elementary Schools and Charlotte Wood Middle next summer, 2020.

 

The SRVUSD thanks the community for supporting the investment in our school facilities by   authorizing the Measure D bond program. Better school facilities support stronger communities and help maintain strong property values. For information on how Measure D funds are being utilized throughout the schools in our District, please visit  www.BuildSRVSchools.org. If you have questions, please contact Communications@srvusd.net