Category Archives: Bond Measure

VUSD issues final series of Measure A bonds from initial authorization – The Reporter

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By Nick Sestanovich

Campuses may be closed for the remainder of the academic year, but Vacaville Unified School District officials are still working to move the progress of Measure A projects along.

Last week, VUSD was able to price its Series D bonds, which will be the fourth and final series of bonds from the 2014 election where Measure A was approved, officials wrote in a news release.

The bonds were approved by the school board at its March 19 meeting.

Source: VUSD issues final series of Measure A bonds from initial authorization – The Reporter

California voters turn down $15B bond issue for schools, higher ed facilities | Education Dive

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By Linda Jacobsn

With more than 95% of precincts reporting as of Wednesday morning, California voters on Tuesday rejected a $15 billion statewide bond measure that would have funded facility projects at preschools, schools, community colleges and universities. The funds would have been used to cover removal of toxic mold and asbestos from aging buildings, more school nurse facilities, and fire and earthquake safety upgrades. Wednesday morning, the nos were leading with 56% of the vote.

Also included in Proposition 13 would have been a provision that allows developers to build multi-family housing near subway stations and bus stops without having to pay school impact fees. The incentive ties to Gov. Gavin Newsom’s efforts to address the housing and homelessness issue in the state and reduces pollution caused by commutes to transit centers. But some argued the provision would have hurt school district finances.

Source: California voters turn down $15B bond issue for schools, higher ed facilities | Education Dive

Vallejo school board asked to approve project labor agreement – Times-Herald

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By John Glidden

A year after Vallejo voters overwhelmingly approved Measure S — a $194 million bond to repair local schools — the school board will be asked to approve a project labor agreement (PLA) with numerous trade organizations and unions.

The Vallejo City Unified School District Board of Education will meet at 6 p.m., Wednesday, inside the Governing Board Room, at 665 Walnut Avenue on Mare Island in Vallejo.

The PLA will apply to construction projects of $1.5 million or more in the school district using Measure S bond monies. PLAs are pre-hire collective bargaining agreements establishing terms and conditions of employment for certain projects.

Source: Vallejo school board asked to approve project labor agreement – Times-Herald

Solano College receives upgrade in credit rating, refinances bonds – Daily Republic

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By Daily Republic Staff

The Solano Community College District earlier this month received an upgrade in its credit rating from Moody’s Investors Service.

The district then refinanced bonds Nov. 13 to save taxpayers almost $21 million, according to a press release.

Moody’s raised its rating on the district’s general obligation bonds from AA3 to AA2, meaning “high quality and very low credit risk.”

Source: Solano College receives upgrade in credit rating, refinances bonds

Amended graduation requirements on Vallejo school board meeting agenda – Times Herald

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By Rachel Raskin-Zrihen

Amended graduation requirements for the alternative high schools and more details about training for the Measure S Citizen’s Oversight Committee are on the agenda for discussion during Wednesday’s Vallejo Unified School District meeting.

The board is expected to vote on a $56,000 contract with a Trustee Melvin Iizuka, appointed by Solano County to keep an eye on its inner workings.

They are also expected to exercise the one-year contract extension option with Vavrinek, Trine, Day & Company, which joined with Eide Bailly LLP on July 15, 2019, to audit the district’s July 1, 2019 to June 30, 2020 financials.

Source: Amended graduation requirements on Vallejo school board meeting agenda – Times Herald

Bond funds banked, millions must be cut- Vallejo school budget – Times-Herald

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By Rachel Raskin-Zrihen

With millions of Measure S dollars in the bank, the Vallejo City Unified School District must still find a way to cut millions from its budget, it was learned at Wednesday’s school board meeting.

At the meeting, trustees learned both that the first sale of Measure S bonds, which will help pay for facilities repairs and upgrades, went better than expected and will cost slightly less per taxpayer to repay, but also that projected enrollment declines are expected to wreak havoc on the district’s budget.

Nearly $39 million came in from the bond sale – some $600,000 more than expected — and is in the bank and ready to use. The next bond sale should happen in 2021.

Source: Millions in bond funds banked, millions must be cut from Vallejo school budget – Times-Herald

Vallejo school district to discuss how to use bond money – Times-Herald

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By Rachel Raskin-Zrihen

Vallejo City Unified School District officials will discuss how to spend the millions of dollars coming in from bond sales, even as they prepare for deep cuts to compensate for continued declining enrollment.

Items dealing with having enough teachers are also on the agenda during Wednesday’s meeting.

One of the items on Wednesday’s meeting agenda would make it possible to sell the district offices if needed. Right now, the district is leasing the site for $1 per year from Lennar Mare Island, which has yet to draw up the required paperwork conveying ownership to the district for the agreed-upon price of $1.

Source: Vallejo school district to discuss how to use bond money – Times-Herald

Vallejo City Unified School Distirct bond sales to start – Times-Herald

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By Rachel Raskin-Zrihen

The first $39 million in Measure S school bonds will be offered for sale this month, and “emergency” furniture and equipment buying was also approved at Wednesday’s Vallejo City Unified School District Board meeting.

The bond sale item passed unanimously with no discussion and only one comment — from frequent meeting attendee and one-time school board candidate Ryan Messano.

Messano reminded the board that he opposed the bond measure from the start and said that if the voting public had known the district was shedding students so rapidly that school closures were necessary, they would not have voted for it.

Source: Vallejo City Unified School Distirct bond sales to start – Times-Herald

First Measure S bond sale may be authorized Wednesday – Times-Herald

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By Rachel Raskin-Zrihen

Vallejo City Unified School District board members are expected to pass a resolution at their Wednesday meeting to authorize the sale of the first installment of Measure S bonds. The board also is expected to approve the allowance of the “piggyback contract process” to get furniture and equipment for Solano Middle School before it merges with Widenmann Elementary School.

In terms of the bonds, some 70 percent of voters approved Measure S, and at the April 10 meeting, trustees learned about the bond financing plan and sale process from the district’s municipal adviser, Government Financial Strategies.

On Wednesday, the board will consider a resolution authorizing the sale of the first $39 million of Measure S bonds. The resolution also will authorize the sale to an underwriter to be selected using a competitive process, approving various financing documents, and authorizing certain district officials to execute the final versions of documents prescribing certain bond terms and conditions.

Source: First Measure S bond sale may be authorized Wednesday – Times-Herald

Solano board supports lower voter-approval for more than school bonds – Daily Republic

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By Todd R. Hansen

Solano County supervisors on Tuesday threw their support behind a proposed constitutional amendment that would lower the voter threshold required to pass bonds for public infrastructure and affordable housing.

The Legislative Committee of the Board of Supervisors, comprised of Chairwoman Erin Hannigan and Supervisor John Vasquez, recommended the board take a position of support.

Public safety facilities and library facilities were recently added to the list of what can be included as “public infrastructure.”

Source: Solano board supports lower voter-approval for more than school bonds

Fairfield-Suisun school bond refinances successful – The Reporter

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By Nick Sestanovich

The Fairfield-Suisun Unified School District (FSUSD) announced that it had refinanced its 2011 General Obligation Bond Funds, which it said will save property owners in the district more than $1 million in taxes.

“FSUSD has a long history of being responsible stewards of the taxpayer’s dollars,” FSUSD Superintendent Kris Corey said in a statement. “Thanks to our exceptional credit rating and our fiscal responsibility, FSUSD was able to save our tax payers a little over one million dollars. We thank the community for their trust in us.”

FSUSD had previously completed its refinance in 2011. The original bonds were issued by the district in 2002 through the Measure C initiative to go toward providing adequate classrooms, fixing aging school sites and relieving overcrowding in the district through constructing and renovating locations. Measure C was approved by the voters that year. Among the projects completed through Measure C included a new library and quad at Armijo High School, the construction of a new Crystal Middle School site and the modernization of campuses throughout the district.

Source: Fairfield-Suisun school bond refinances successful – The Reporter

VUSD ready to issue next series of bonds for Measure A projects – The Reporter

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By Nick Sestanovich

Earlier in the month, Vacaville Unified School District issued its Series C of general obligation bonds provided by Measure A, a $194 million bond initiative passed by Vacaville voters in 2014.

The district says this most recent issuance has saved local property owners millions in taxes due to a rating upgrade for the district, a recent downturn in interest rates and bond structure optimization, according to a district news release.

Through this most recent issuance, VUSD has priced $145 million in general obligation bonds. The district’s credit was reviewed during the process, and it received an AAA rating from Fitch Group, according to the district.

Source: VUSD ready to issue next series of bonds for Measure A projects – The Reporter

Changing the rules to fill vacated seat on Vallejo school board agenda – Times-Herald

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By Rachel Raskin-Zrihen

Changing the procedure for filling an empty board seat, the results of union negotiations, school closure recommendations and Measure S fund expenditures are among the issues on the agenda for Wednesday’s Vallejo City Unified School District board meeting.

District staff is recommending the Governing Board use the provisional appointment process to fill the vacancy created by the resignation of former trustee Marianne Kearney-Brown.

As it now stands, the board would appoint the fourth highest vote-getter in the last election, which was Christy Gardner. However, also on the agenda is changing Board Bylaw 9223, by removing the line, “When authorized by law to make a provisional appointment to fill a vacancy on the Board, the Board shall appoint the next highest candidate who received votes from the previous election.”

Source: Changing the rules to fill vacated seat on Vallejo school board agenda – Times-Herald

School Bond Measures On November Ballot – SFGate

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Two cannabis tax measures, three school bond measures and a sales tax measure are on ballots around Solano County for the Nov. 6 election.

Voters in Suisun City and Benicia will consider a cannabis industry general tax that requires majority approval.

The tax rate under Measure C in Suisun City would be no more than 15 percent of gross receipts and $25 per square foot of space used for commercial cannabis activities.

The estimated $2 million in annual tax revenue will pay for public safety, street maintenance and other city services until voters repeal it.

Source: Cannabis, Street Repair Sales Taxes, School Bond Measures On November Ballot – SFGate

Dixon taxpayers group launches Measure Q Oversight website – The Reporter

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By Nick Sestanovich

The Dixon chapter of the Solano County Taxpayers Association (SCTA) launched a website recently to provide residents with access to documents regarding Dixon Unified School District’s Measure Q bond funds.

Measure Q is a $30.4 million revenue initiative that was passed by Dixon voters in 2016 to provide funds for construction and renovation projects at DUSD schools. Such projects include reopening the old Dixon High School site as a new middle school, repairs and renovations at Anderson Elementary School, and providing security and safety improvements and Americans with Disabilities Act compliance upgrades at all the district schools.

Following the passage of Measure Q, the school board established a Citizens Bond Oversight Committee (CBOC) made up of independent volunteers in Aug. 2017 to ensure that the Measure Q money would only be spent on its projects. Per Proposition 39, which was approved by California voters in 2000, school districts that pass bond measures are required to have a CBOC that meets at least once a year and provide information to the public about bond revenues.

Source: Dixon taxpayers group launches Measure Q Oversight website – The Reporter

Fairfield-Suisun schools to issue $80 million in bonds | Bond Buyer

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By Imran Ghori

The Fairfield-Suisun Unified School District in Northern California plans to issue $80 million in bonds as part of its effort to modernize its campuses.

The general obligation bonds are the second series to be issued since voters in the district in Solano County, 50 miles northeast of San Francisco, approved a $249 million bond measure two years ago.

A bond-funded school construction project at the Fairfield-Suisun Unified School District in California.

The school district issued $84 million in bonds that year and will have $85 million in authorized bonds remaining following this issuance.

Source: Fairfield-Suisun schools to issue $80 million in bonds | Bond Buyer

Vallejo school board approves bond measure for site repairs – Times Herald

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By Rachel Raskin-Zrihen

There will be a $194 million bond measure on the November ballot, as the Vallejo City Unified School District Board of Trustees voted for it 4-1 on Wednesday.

Trustee Ruscal Cayangyang was the only dissenting vote.

It was the second vote at the same meeting for a bond to get the money needed to repair crumbling school facilities. Even this is nowhere near the amount needed to do everything that needs to be done, district officials say.

Cayangyang offered a compromise measure, for a $50 million bond, since the nearly $200,000 one had failed once before but, no trustee would second that motion. Following several comments from other trustees and community members, Cayangyang amended the amount to $100 million and then, $110 million, which got a grudging, provisional second from trustee Tony Ubalde. But the alternative lost in a 4-1 vote, with Cayangyang the only “Yes.”

Source: Vallejo school board approves nearly $200 million bond measure for school site repairs

$1.6M in Measure A, Prop. 39 contracts on VUSD agenda – The Reporter

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By Richard Bammer

Vacaville Unified leaders, when they meet tonight, are expected to approve several large Measure A and Proposition 39 contracts totaling more than $1.6 million, plus pass a resolution calling for “full and fair funding of California’s public schools.”

The seven-member governing board will OK, in order, three Measure A contracts, including 1) a $272,000 agreement with Johnson Mechanical to replace the heating, ventilation and air condition systems in the Wood High administration building; 2) a $65,000 contract with American Asphalt & Resurfacing Co. for the seal coating projects at Vacaville High and Jepson Middle School; and 3) a $629,000 agreement with Sunterra Solar Inc. for solar panels atop the newly built E and M buildings at the West Monte Vista Avenue campus.

Source: $1.6M in Measure A, Prop. 39 contracts on VUSD agenda

Vallejo trustees get first look at proposed $194 million bond – Times Herald

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By John Glidden

It’s an election year, so the quest by the Vallejo school district to get a school bond passed is in full swing.

Trustees will get their first look Wednesday at the district’s newest proposal: Placement of a $194 million school bond on the November ballot.

Bond proceeds would be used to repair classrooms, update science, computer, and technology labs, and improve security, fire safety and electrical and plumbing systems, according to the draft ballot language.

In addition, bond monies would be allocated to the independent charter school Mare Island Technology Academy for site improvements.

District staff estimates the Vallejo City Unified School District requires about $750 million for school facility needs and improvements.

Source: Vallejo trustees get first look at proposed $194 million bond

School board to hear update on Measure S bond progress – Benicia Herald

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By Nick Sestanovich

The Benicia Unified School District is currently discussing how best to use the remaining funds in the Measure S budget. A quarterly update on the Measure S bond will be delivered at Thursday’s school board meeting.

Measure S is an initiative approved by Benicia voters in 2014 to provide $49.6 million in bond funding for renovation and upgrades of school facilities. As of now, 11 projects funded by Measure S have been completed, including playground upgrades at all the elementary schools, repairing the roofs at Benicia Middle School and Mary Farmar Elementary School, upgrading the phone systems at all schools, replacing the softball field bleachers at Benicia High School, replacing the fire alarms at Benicia Middle and Benicia High, and renovating the Benicia High stadium.

Source: School board to hear update on Measure S bond progress