Category Archives: Bond Measure

Fairfield-Suisun’s AAA bonds rating demonstrates financial stability – Daily Republic

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Fairfield-Suisun Unified School District announced Fitch Ratings has affirmed the district’s general obligation bonds at the highest rating of AAA, with a stable outlook.

The credit rating assigned serves as a measure of the safety and security of the school district’s bonds for potential investors. Similar to personal credit scores, the GO Bond credit rating system provides a range of ratings that help investors gauge the level of risk associated with an investment.

The AAA rating is the highest attainable rating and signifies an exceptional level of creditworthiness.

Source: Fairfield-Suisun’s AAA bonds rating demonstrates fInancial stability

Fairfield-Suisun trustees prep to tackle plans for new Measure S money – Daily Republic

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By Susan Hiland

A subcommittee of the Fairfield-Suisun School District’s governing board will begin work soon to develop plans for how best to spend nearly $250 million in facilities property tax funding approved by voters in November.

“We are just in the beginning stages of discussing Measure S,” Superintendent Kris Corey wrote in an email to the Daily Republic.

The first Facilities Subcommittee meeting of the year will begin at 4:30 p.m. Feb. 7.

Source: Fairfield-Suisun trustees prep to tackle plans for new Measure S money

California school districts pass $20 billion in construction bonds, but some rural areas say no to higher taxes | EdSource

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By John Fensterwald & Carolyn Jones

Notwithstanding worries about a looming recession and misperceptions that schools are swimming in money, California voters approved 71 of 101 TK-12 and community college construction bond proposals last month. The 65 of 94 TK-12 and six of seven community college district ballot measures that won will generate $20 billion in renovations and new construction.

The overall passage of 71% is below the average approval rate of 80% since 2001, according to CaliforniaCityFinance.com. The voting margins also “seemed thinner this year,” said Jeff Becker, executive director of facilities for the Office of the Fresno County Superintendent of Schools. He also chairs the Coalition for Adequate School Housing or CASH, the California lobby for school facilities.

Source: California school districts pass $20 billion in construction bonds, but some rural areas say no to higher taxes | EdSource

Travis hears update on Special Tax Annual Reports – Daily Republic

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By Susan Hiland

Chief Business Officer Gabe Moulaison gave a presentation to the Travis school board on Tuesday night on the Community Facilities Districts No. 1 and No. 2 Special Tax Annual Reports.

According to the report, there are 1,775 residential parcels for which a building permit has been issued as of June 1 for Community Facilities District No. 1.

The total annual special tax to be collected within CFD No. 1 for the fiscal year 2022-23 is $1.051 million.

Source: Travis hears update on Special Tax Annual Reports

Markham Elementary heralds completion of Measure A projects – The Vacaville Reporter

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By Nick Sestanovich

Edwin Markham Elementary School has changed quite a bit in the last few years. The 60-year-old campus now has new classrooms, a new cafeteria, administration building and library, all due to $35 million from Vacaville Unified School District’s Measure A bond.

The project, one of the largest under the Measure A initiative, was finished amid the COVID-19 pandemic, but with restrictions lifted and people allowed to meet fully in person, a brief ceremony was held Friday morning to commemorate the completion.

Against a backdrop of black and turquoise balloons and with wolf mascot Edwin pumping up the crowd, Principal Jose Bermudez welcomed everyone to “the new and improved Markham.”

Source: Markham Elementary heralds completion of Measure A projects – The Vacaville Reporter

Fairfield-Suisun trustees to hear updates on school bond projects, other programs – Daily Republic

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By Susan Hiland

Fairfield-Suisun School District trustees will hear several presentations at their next meeting Thursday, to include an update on Measure J projects as the district seeks approval of another property tax measure to finance future projects.

Measure J, a $249 million general obligation bond that’s being repaid through property tax assessments, was approved by voters June 7, 2016, with the third and final bond sale occurring Feb. 20, 2020.

Construction started with the replacement of the synthetic track and fields in the stadiums at all three comprehensive high schools in 2016. The district has completed several projects and is in design for most of the final projects of the bond program.

Source: Fairfield-Suisun trustees to hear updates on school bond projects, other programs

Fairfield-Suisun school district using Measure J dollars as intended – Daily Republic

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By Susan Hiland

The executive director of the Measure J oversight committee told the Fairfield-Suisun school board this week that proceeds from the bond have only been used for the purposes in the ballot measure.

Paul Speed, executive director of Facilities and Operations on the Measure J Citizens’ Oversight Committee, presented the committee’s 2021 report during a quick meeting of the board on Thursday.

The committee also concluded that the bond proceeds have been maximized, Speed said.

Source: Report: Fairfield-Suisun school district using Measure J dollars as intended

Final phase of Measure A projects moving along – The Vacaville Reporter

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By Nick Sestanovich

When Vacaville Unified School District students return for classes Aug. 18, many will be returning to campuses that did not look the same as they did in the spring.

These include upgraded technology in the classrooms, new rooms and — in the case of Buckingham Collegiate Charter Academy — a completely remodeled campus.

All of this is a result of Measure A, a $194 million bond approved by Vacaville voters in 2014 for educational improvements at VUSD sites. Among the larger projects completed so far are a pair of new two-story buildings at Vacaville High School, a new stadium at Will C. Wood High School, modernization of Willis Jepson Middle School’s campus and increased technology availability at all sites.

Source: Final phase of Measure A projects moving along – The Vacaville Reporter

Fairfield school board OKs $249.6M facilities bond for November ballot – Daily Republic

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By Susan Hiland

A divided school board this week voted 6-1 to place a quarter of a billion dollar bond on the Nov. 8 ballot to provide what the Fairfield-Suisun School District describes as facilities improvements.

Trustee Ana Petero voted against the plan.

Superintendent Kris Corey said the bond will not increase taxes for the community. Instead, it will extend the terms of the combined Measures C and J bonds. By extending the terms and not increasing the tax rate, she said, the community will generate $249.6 million to use for school facilities projects.

Source: Fairfield school board OKs $249.6M facilities bond for November ballot

Vacaville School District refinances bonds, saves taxpayers more than $3M – Daily Republic

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The Vacaville School District has refinanced $22.2 million in general obligation bonds, which according to a press release from the district will save property owners approximately $3.1 million in lower tax payments.

District voters authorized the sale of up to $194 million of general obligation bonds on Nov. 4, 2014, to address needs for technology upgrades, facility renovation and new construction for district schools. Since then, the district has sold all of their bonds from the 2014 election.

Source: Vacaville School District refinances bonds, saves taxpayers more than $3M

VUSD refinances bonds, reducing tax bills for local property owners – The Vacaville Reporter

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By Richard Bammer

An alert for many Vacaville property owners: You are going to see somewhat reduced property tax bills in the future.

Vacaville Unified this month refinanced $22.2 million in general obligation bonds, which will save school district property owners $3.1 million in lower tax payments, district leaders said in a press release issued Thursday.

District voters in November 2014 approved Measure A, the $194 million general obligation bond to pay for technology upgrades, renovations to existing buildings, and new construction for district schools.

Source: VUSD refinances bonds, reducing tax bills for local property owners – The Vacaville Reporter

Vacaville School District refinances bonds, saves taxpayers more than $3 million – Daily Republic

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The Vacaville School District has refinanced $22.2 million in general obligation bonds, which according to a press release from the district will save property owners approximately $3.1 million in lower tax payments.

District voters authorized the sale of up to $194 million of general obligation bonds on Nov. 4, 2014, to address needs for technology upgrades, facility renovation and new construction for district schools. Since then, the district has sold all of their bonds from the 2014 election.

Source: Vacaville School District refinances bonds, saves taxpayers more than $3 million

Solano College announces bond refinancing results – Daily Republic

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The Solano Community College District has announced its most recent bond initiative that it says will lower property taxes and save district taxpayers millions in future debt payments.

The district was able to achieve savings of approximately $13.9 million for local taxpayers by refinancing existing general obligation bonds, according to a press release.

The district has taken advantage of previous refinancing opportunities since 2005. The combined savings from all of the refinancing efforts now totals more than $46 million, the college district reports.

Source: Solano College announces bond refinancing results

School district refinances bonds to save taxpayers $2M – Daily Republic

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The Fairfield-Suisun School District refinanced its 2012 general obligation refunding bonds to save district property owners $2 million in taxes.

This is the second time in two years the district has refinanced at a lower interest rate. The first refinance was completed in 2012. The original bonds, issued in 2004, were authorized by voters in a 2002 election. The proceeds were used to provide renovated classrooms, repair aging school facilities and relieve overcrowding with new classrooms.

Source: School district refinances bonds to save taxpayers $2M

FSUSD Refinances Bonds, Saves Taxpayers More than $2 Million – Daily Republic

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By Kris Corey

The Fairfield-Suisun Unified School District refinanced its 2012 General Obligation Refunding Bonds to save District property owners over $2 million in taxes.

This is the second time in the last two years the District has taken advantage of incredibly low interest rates to save taxpayers money. It is also the second time the District has refinanced these specific bonds. The first refinance of these bonds was completed back in 2012, also to save property taxpayers money. The very original bonds, issued in 2004, were authorized by Fairfield-Suisun Unified School District voters at an election in 2002. The proceeds of those bonds were used to provide renovated classrooms, repair aging school facilities, and relieve severe overcrowding by constructing new classrooms.

Source: Good News: Fairfield-Suisun Unified School District Refinances Bonds, Saves Taxpayers More than $2 Million

VUSD: Bond refinance will be boon to taxpayers – The Reporter

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By Nick Sestanovich

Property owners in Vacaville Unified School District will see a reduced property tax rate on future bills, district officials announced in a new release.

This past month, VUSD refinanced $39.56 million in general obligation bonds, a move officials said would save district property owners more than $4.19 million in property taxes.

“With interest rates near historic lows, we wanted to take this opportunity to save our community money, particularly in light of the downturn in the economy,” Superintendent Jane Shamieh said in a statement.

Source: VUSD: Bond refinance will be boon to taxpayers – The Reporter

Vallejo school board approves multiple Measure S contracts – Times-Herald

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By John Glidden

Without comment, the Vallejo City Unified School District approved several Measure S related items during Wednesday’s board meeting.

They approved a contract between the district and Miller Pacific Engineering for geotechnical evaluation for the Corbus Field resurfacing project, according to a staff report to the five-person school board.

The $14,500 contract includes a field drainage assessment, assistance with field design if needed and construction observation and testing, staff said.

Source: Vallejo school board approves multiple Measure S contracts – Times-Herald

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