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District reports successful Series A bond sale timeline, S&P double-A minus rating; facilities bids and projects moving to next steps
Summary
District staff reported a Standard & Poor's rating of double-A minus for Measure J Series A, said proceeds are expected mid-May, and provided an update on facilities projects and upcoming bids and procurement steps.
Snowline Joint Unified School District administrators told the board the district received a Standard & Poor's rating of double-A minus for the Measure J Series A bond sale and that underwriters expect proceeds to be available mid-May.
District staff said the rating and the market story the district presented helped position the bonds favorably in a challenging market. Administrators noted the rating outlook is stable. Staff said the Series A sale process was ongoing with underwriters and that the district expected to receive Series A proceeds around May 14.
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