TRANSMITTAL LETTER FOR BOARD MEETING OF OCTOBER 6, 2016
COMMITTEE ON FINANCE
Mr. David St. Pierre, Executive Director
Title
Report on the sale of $426,260,000 General Obligation Capital Improvement Bonds of 2016
Body
Dear Sir:
The report attached presents a summary of the results of the sale of $426,260,000 General Obligation Capital Improvement Bonds of 2016. $104,000,000 of the bonds were new money bonds issued to provide funding for new and existing capital projects. $322,260,000 of the bonds were issued to refinance outstanding District bonds at a lower interest cost.
The District benefited from historically low interest rates, and enhanced marketing of the bonds by completing its second “Green Bond” offering to investors.
Respectfully Submitted, Mary Ann Boyle, Treasurer, MAB:st
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