Piedmont School Saves Taxpayers $26 Million with Refinanced Bonds
Piedmont Unified School District Superintendent Randy Booker announced recently that taxpayers will save more than $26.1 million because of refinanced bonds. The district issued $27 million in bonds for sale. The refinanced bonds will pay off existing debt with funds borrowed at a lower interest rate. The 2006 Series E General Obligation Bonds were sold through a competitive bidding process with Morgan Stanley & Co. LLC submitting the lowest bid at an interest cost of 3.17 percent.
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Pittsburg Students Enjoying New Buildings Thanks to Bond Revenue
The millions in bond revenue that Pittsburg Unified School District voters approved several years ago have resulted in tangible improvements to two campuses. The $85M bond measure has funded dozens more classrooms and a multipurpose room. The high school’s $29.2 million construction project created enough space — 57,488 square feet — to accommodate about 900 students taking everything from world history, English and Spanish to math and physics. The high school’s additional buildings house 29 classrooms. Willow Cove Elementary School’s multipurpose room and kitchen were also built with proceeds from the sale of these bonds.
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Hayward Unified Officials Weigh State Takeover and School Closures Amid Budget Discussions
The option to close Bowman Elementary and consolidate the Bidwell and Treeview Elementary campuses is still on the table as Hayward Unified administrators seek to eliminate a $7.8 million deficit in next school year’s budget. Although no formal recommendations or final decisions have been made on any budget cuts, including possible school closures and consolidations, the proposal to close Bowman and consolidate the Bidwell and Treeview campuses is outlined in revised budget documents submitted to the Alameda County Office of Education on Dec. 15.
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