Chandler Unified board authorizes $135 million school-improvement bond sale, estimates modest tax-rate uptick
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Summary
The Chandler Unified School District board on April 8 adopted a resolution authorizing the first sale (Series A 2026) of $135,000,000 from the voter-approved $271.5 million 2025 bond package. Financial advisers said the bond portion of the tax rate is expected to rise from about $1.00 to $1.28 per $100 assessed value — roughly $8–$9 per month for the average homeowner — and the board voted unanimously to approve the resolution.
The Chandler Unified School District Governing Board voted unanimously on April 8 to adopt a resolution authorizing the sale of $135,000,000 in school-improvement bonds, designated Series A 2026, the first tranche from a voter-approved $271,500,000 authorization.
Financial advisers presenting the plan told the board the proceeds will fund projects listed in the district voter pamphlet — including facility renovations, security enhancements, land acquisition, new construction, instructional technology, furniture and pupil-transportation vehicles — and explained the district will time the market to minimize interest cost. The advisers said the initial maturity schedule is expected to run from July 1, 2026, to July 1, 2045.
"We expect that with the issuance of these bonds, the debt service will drive up that component of your tax rate from about a dollar now to a dollar 28," the district's presenting financial advisor said during the meeting. The presenter translated that estimate to a household impact of "about 8 or $9 per month for the average homeowner — yes, per year about $100."
Presenters said the district currently holds the highest available municipal-credit ratings (AAA from Moody’s and Fitch), which helps lower borrowing costs, and that staff will work with rating agencies and monitor market conditions before making a sale. They noted market volatility tied to recent geopolitical events has pushed tax-exempt interest rates higher in the short term, though rates had softened slightly by the time of the meeting.
Board members asked about timing and whether the district can delay the offering if market conditions worsen; advisers said the board and staff retain flexibility and would only proceed when tax-rate objectives and market conditions align with district goals.
The board approved the resolution by voice vote; the motion passed unanimously. With the Series A sale, the district will leave approximately $136,500,000 of authorization for a later tranche, which staff said could come as early as 2028 depending on financing needs and market conditions.
What’s next: If the board proceeds the district plans outreach to the rating agencies and could offer bonds to the market as soon as early to mid-May, subject to market conditions and final documentation.
