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Evergreen sells bonds for school construction

Evergreen Public Schools has sold the second set of bonds from its voter-approved $695 million school construction measure.

The bonds were sold to a group led by Bank of America Securities, Inc., and will provide $200 million in project funding. The 19-year financing carries an interest rate of 2.41 percent.

Funds from the bond sale will go toward construction at Mountain View and Legacy High Schools, Marrion and Ellsworth Elementary Schools, and other capital renewal projects.

“This is a great time to be financing the projects approved by voters,” Superintendent Mike Merlino said in a district news release. “Rates are historically low, and (this) sale was a big success for taxpayers and Evergreen.”

The district sold its first set of bonds, worth $125 million, in June 2018. Those dollars are being used to pay for the replacement of Sifton and Image Elementary Schools, construct the district’s 22nd elementary school and cover a number of other projects.

 


Source: https://www.columbian.com

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