There are $80 million in school projects making their way down the pipeline in the coming months as district leaders have begun the process of selling off the second series of Measure G dollars.
Those Series B projects are:
• $49,078,449 for Britton Middle School reconstruction;
• $10,500,000 for Nordstrom Elementary multi-purpose room and portable replacement;
• $12,000,000 for Jackson Academy of Math and Music new multi-purpose room/gym;
• $5,500,000 for Technology infrastructure and instructional technology replacement; and
• $2,921,551 for Construction management, Series B cost of issuance.
At the Sept. 5 board of education meeting, trustees unanimously approved the district’s request for the issuance of the $80 million Series B bonds. The bonds are expected to close by Oct. 31.
This follows the $55 million in Series A bonds already spent on projects at school sites throughout the district, including work at the Loritta Bonfante Johnson Education Center, San Martin/Gwinn Environmental Science Academy and Paradise Valley Engineering Academy.
Series B’s $80 million will be paid back in installments over the next 30 years totalling $144,284,492 by 2047, according to a presentation by managing director Erica Gonzalez of Stifel, Nicolaus & Company.
A Series C bond issuance of $63,250,000Â (the final of the Measure G monies) is scheduled for 2020.
