Evergreen Public Schools recently sold the second set of bonds from the $695 million February 2018 voter-approved measure.The bonds will provide $200 million in project funding, and were sold via a competitive bidding process conducted by the district’s finance team and approved by Superintendent Mike Merlino. Bids were received from seven national underwriting syndicates, with the winning bid from a group led by Bank of America Securities. The overall cost of borrowing for this 19-year financing is a low 2.41%.The funds will go toward a wide variety of projects that will include the new Mountain View and Legacy high schools, Marrion and Ellsworth elementary schools and other capital renewal projects. The first sale of $125 million in June 2018 is being used to fund the replacement of Sifton and Image elementary schools, construct the district’s 22nd elementary school, and covered a number of capital renewal projects undertaken during the last year.
