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Financial advisor briefs board on plan to issue remaining Measure A bonds
Summary
The district’s financial advisor presented an informational plan to issue roughly $51 million of remaining Measure A authorization, describing an assumed mix of current‑interest and capital‑appreciation bonds, estimated total debt service of about $134 million, and a waiver that allows the issuance before a 2025 expiration.
The Roseville Joint Union High School District’s financial advisor, Chris Hyatt of Keychin, briefed the board April 8 on a proposed final issuance of Measure A general obligation bonds.
Hyatt said the district seeks to sell roughly the remaining $51 million of Measure A authorization. He outlined assumptions used to model repayment — a mix of about 57% current‑interest bonds (periodic interest payments) and 43% capital‑appreciation bonds (no interest payments until maturity) — and noted an estimated total cost across the bond life of about $134 million based on current market assumptions. Hyatt also said the district obtained a waiver in 2018 that temporarily increased bonding capacity (from a standard statutory limit) and that waiver expires at the end of 2025; selling bonds under the existing waiver would allow the district to proceed without further waiver action.
Hyatt described near‑term assumptions, including an aggressive assessed valuation growth assumption of about 15% annually through 2031 in the model and current interest rate assumptions near 4.9% (rates are volatile and will be locked when bonds are sold). He said the board will see the required legal documents and a recommendation to proceed at the April 22 meeting; a credit rating update and a preliminary official statement for investors would follow before a planned sale in early summer.
The item was presented as information only; bond issuance requires formal board action at a future meeting. Trustees asked clarifying questions about the interest rate lock date and market timing; Hyatt responded that sale timing will reflect market conditions and the planned early‑June pricing window in the packet.
