Elizabeth Hennessy, Managing Director at Raymond James and Diana McCluskey, Chief School Business Official, provided an update on the October 3, 2023, competitive sale of General Obligation Bonds Series 2023A and General Obligation Bonds (Alternate Revenue Source) Series 2023B.

The competitive sale for the District’s Aa2-Rated General Obligation School Bonds resulted in 6 bids for the Series 2023A Bonds and 7 bids for the Series 2023B ARS Bonds.

The sale of the $43,000,000 Series 2023A bonds completes the issuance of the referendum approved bonds with an all-in true interest rate of 4.602%. The monthly tax impact is $12.18 per month for a $300,000 market value home which is very close to information shared with the community during the referendum campaign ($12.16 per month).

The District also issued the $40,000,000 Series 2023B alternate revenue bonds with an all-in true interest rate of 4.71% that are repaid from the operating funds. The District budgeted for this payment for the first time this year at $3,000,000. The annual payments will be on average $3,075,000 which is very close to the budgeted amount.

Mrs. Henessey shared that given the volatility of the market, we are very happy the interest rates are locked in now for the majority of the “Moving 15 Forward” financings within the parameters discussed with the voters.

View the Pricing Report for Series 2023 A&B Bonds