Measure R bond sale returns $21M with lower-than-expected interest rate; district projects lower tax levy
District and its underwriter reported successful Measure R bond sales with a winning bid that lowered projected taxpayer levies from about $60 to roughly $53 per $100,000 assessed value; funds were received and are earmarked for facilities projects.
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District finance staff and the bond underwriter presented results of the Measure R bond sale held May 21. The district issued approximately $21 million of Measure R bonds and received the proceeds on June 5. Underwriters opened the sale to competitive bids; Fidelity submitted the winning bid with an average interest proposal of 4.57%, below the district's budgeted 5.23%.
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