Financial Summary of Seismic Safety Bond & Opportunity for Public Comment

Tuesday, December 17th, 2013 - Posted in All District News Modernization

In June 2014, the Board of Education will present a bond measure to Piedmont voters to raise funds to renovate Alan Harvey Theater to bring it up to current accessibility codes and standards. The Board held the first of three meetings to discuss bond financing options on December 11, 2013, and will hold two more meetings on January 8 and 22, 2014.

While inviting community input on bond financing for Alan Harvey Theater, the Board determined it may be helpful for the public to have a Financial Summary of the District’s recently-completed seismic safety bond program. The seismic program to strengthen or replace school facilities to meet or exceed current standards for life safety involved the sale of $69.1 million in local bonds. These bonds include a mix of current interest bonds, Qualified School Construction bonds, and capital appreciation bonds.

The financial summary includes information that was previously published in Citizen Oversight Committee reports, Board reports, reports from KNN Public Finance, and the Seismic Safety Bond Program Summary. The information has been compiled here in this financial summary for the public’s convenience.

For those who cannot attend the upcoming Board meetings, or who have questions or comments about the Alan Harvey Theater financing options, please send questions or comments to Andrea Swenson, School Board Vice President at aswenson@piedmont.k12.ca.us

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