News

Woodside School District sells $13.5 million in bonds

Low bond rates save taxpayers money

The Woodside Elementary School District has sold the $13.5 million in bonds approved by the voters in June at interest rates low enough to save taxpayers some money.

District officials say a combination of an excellent bond rating, local investment, and favorable market conditions allowed the district to sell bonds that will pay investors between 2 percent and 5 percent of tax-free interest.

Taxpayers will save $20 per year for each $1 million in assessed value of their property, because the tax rate will be $ 22.01 per $100,000 instead of the $24.05 per $100,000 that had been estimated, according to the district.

Bond money will go to new preschool classrooms, a new combination theater and gymnasium, and a new design lab for hands-on projects, with constructions scheduled to begin in June. Bond money will also pay for deferred maintenance.

Projected completion dates are early September 2015 for the preschool, the end of September 2015 for the design lab, and spring 2016 for the new multi-purpose building.

"We are very excited to begin improving our school," said Wendy Warren Roth, the district's governing board president.

— Barbara Wood

What is democracy worth to you?
Support local journalism.

Comments

Sorry, but further commenting on this topic has been closed.

Stay informed

Get daily headlines sent straight to your inbox.

Contemporary Indian restaurant, Ettan, headed to Palo Alto
By Elena Kadvany | 5 comments | 6,199 views

Good News: The New Menlo Park Rail Subcommittee Hits A Home Run
By Dana Hendrickson | 12 comments | 1,740 views

Premarital and Couples: Tips for Hearing (Listening) and Being Known
By Chandrama Anderson | 0 comments | 1,445 views

Two degrees can do all that?
By Sherry Listgarten | 11 comments | 1,094 views

Tame, Maim and Claim the Wild Sea Vegetable
By Laura Stec | 7 comments | 642 views

 

Register today!

On Friday, October 11, join us at the Palo Alto Baylands for a 5K walk, 5K run, 10K run or half marathon! All proceeds benefit local nonprofits serving children and families.

Learn More