• Redwood City School District Bonds Issued and Outstanding
    As of August 1, 2013

     
    District voters approved two bond measures - Measure A in 1997 and Measure B in 2002 - for a total authorization amount of
    $66 million.  The District has issued all $66 million and has been repaying the bonds since 1998.  Some of the Measure B (2002)
    bonds were refinancing at lower interest rates in 2012.  Measure A will be fully repaid in 2022; Measure B will be fully repaid
    in 2027. For information on construction projects completed with measures Measure A and B, please click here. To read a
    press release issued in response to a July 2013 Grand Jury report, please click here.

    The bonds as issued and the amounts outstanding are shown in the table below:
     
    Issue Date Issued Final Maturity (Payment) Original Principal Issued Original Total Interest Cost (%) Original Debt Service (Principal & Interest) Original Payback Ratio Currently Outstanding Principal Remaining Repayment (Principal & Interest) Payback Ratio of Remaining Debt
    1997 Currents 8/1/97 8/1/16 $34,970,000
    $59,708,618 1.71 $11,840,000 $13,079,825 1.10
    1997 CABS 8/1/97 8/1/22 9,025,195
    31,615,000 3.50 9,025,195 31,615,000 3.50
    Total Measure A:     43,995,195 5.32% 91,323,618 2.08 20,865,195 44,694,825 2.14
    2002 Currents 7/24/02 7/15/27 19,100,000
    39,526,875 2.07 0 0
    2002 CABs 7/24/02 7/15/17 2,899,968
    6,380,001 2.20 1,187,659 3,280,000 2.76
    Total Measure B:     21,999,968 5.12% 45,906,876 2.09 1,187,659 3,280,000 2.76
    2012 Refunding (Currents) 6/14/12 2/1/27 18,545,000 3.04% 26,051,657 1.40 18,050,000 24,765,744 1.37
    Total Currently Outstanding:           $40,102,854 $72,740,569 1.81