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Adams 12 issues $171.5M bond tranche, nets $185M for initial capital projects; district outlines IT and construction plans
Summary
Adams 12 Five Star Schools staff told FACT advisory members the district issued $171.5 million of bonds in late January, netting about $185 million to the project fund to begin capital and IT projects.
Adams 12 Five Star Schools staff told FACT advisory members that the district issued its first bond tranche in late January and is moving forward on planned capital and IT projects.
District staff reported the first par issuance was $171,500,000 with an 8.4% premium and issuance costs of roughly 6%, which together netted about $185,000,000 to the project fund. The district is authorized to issue up to $830,000,000 of par; staff said the initial tranche is intended to fund roughly the first two years of bond investments and additional issuances are expected over the next several years.
Officials said they are reclassifying allowable pre‑issuance spending under IRS rules and have allocated charters a proportional share of bond proceeds; service‑state capital construction funds and an instructional cost offset are applied before distributing bond proceeds to charter schools so charters do not “double dip” on state capital funds and bond proceeds.
Staff reported specific commitments and procurement progress: contracts for Thornton High School design and related work were described as largely complete, and the district has encumbered more than $10.3 million for summer projects such as roof replacements, parking, playground work and immediate repairs at Prairie Hills. The district has also budgeted about $25,000,000 for furniture across schools and said some IT projects will be eligible for E‑Rate support tied to free‑and‑reduced‑price student percentages.
The district described an Oracle Cloud ERP implementation (finance, payroll, HR, projects and purchasing) estimated at approximately $11,000,000; officials said that implementation will be paid from interest earnings on bond proceeds rather than operating funds. The district also said higher-than-expected investment earnings since issuance had increased available interest funding for some projects.
On IT, a staff member identified as Jeff said the district owns its own fiber network and uses redundant upstream connections (including partnerships with public research/education exchange services such as Front Range GigaPoP and a commercial provider, Zayo) to ensure resiliency. Jeff said the district plans to complete network cabling upgrades at 12 sites through spring 2026, and described hotspots, mobile broadband and inventoryed devices used as contingency or to serve students without home connectivity. District staff characterized much of the IT work (network cabling, cabling behind walls) as largely invisible but essential maintenance and infrastructure work.
Officials said the district will use bond interest earnings to fund some technology and an Oracle ERP project, and that E‑rate rules and vendor participation affect procurement timing for broadband and networking work.
FACT members were invited to raise questions on IT and construction; staff noted that LRPAC (Long‑Range Planning and Capital Committee) was meeting simultaneously and receiving overlapping updates on procurement and construction details.
