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Nerd-vana: Giving Fellow Reporters Tips On School Bond Sales Statements

Nan Austin describes her exploration of bond issues for an EWA webinar on Tuesday, Sept. 8:

“School bond stories are back in the news in this area. First, after the recession wreaked havoc on normal bond financing, those who can are restructuring their debt to take advantage of lower rates.

The Yosemite Community College District has saved taxpayers $12.5 million with a new issue to restructure $120.2 million in debt from its Measure E bonds. That comes on top of $4.5 million it trimmed from its debt obligations with a 2012 sale.

Checking the statement, I see that property owners will still pay another $800.5 million through 2042 on the district’s total debt. But, checking their property-valuation schedule, I can also see that is spread over nearly $54 billion (note the “b”) worth of real estate over the far-flung district covering part or all of six counties.”