Staff presented how possible financing options could be used to implement some or all of the Master Facilities Site Recap.
Working with California School Services, three financing options are available to the District.
- $99.5 Million Bonds Proceeds
- $57 Million Bonds Proceeds - Staff Recommendation
- $29 Million Bonds Proceeds
New $99.5 million bond with a new $60 tax rate per $100,000 assessed value (AV). Between 2004 and 2014 Alamedans would pay a total of $123 per $100,000 AV. After 2014, the tax rate will drop to $60 per $100,000 AV.
New $57 million bond that will not increase the tax rate beyond the $63 per $100,000 AV that is currently assessed. Between 2004 and 2014 Alamedans would continue to pay a total of $63 per $100,000 AV to retire the 1989 School Bond. After 2014, the tax rate will drop to $60 per $100,000 AV and continue until the bonds are paid off.
New $29 million bond with a new $24 tax rate per $100,000 assessed value (AV). Between 2004 and 2014 Alamedans would pay a total of $87 per $100,000 AV. After 2014, the old Bond would paid off and the tax rate will drop to $24 per $100,000 AV.
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Last modified: August 21, 2003
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