Mesa Public Schools will raise the final $95M of the $300M in general obligation bonds that was approved in 2018.
Interest rates for municipal bonds have remained at historic lows despite rising inflation, and MPS’ financial advisors recommended finishing all its authorized bond sales while rates remain favorable.
The last four sales have been for $65M or less.
The 2019 master plan for the bond monies included campus renovations at Mountain View High School and Mesa High School, which have a combined total of $100M. The 2018 bond is directed toward the first third of the multi-phase projects. Several elementary schools have seen an array of smaller projects under the bond, as have technology and vehicle fleet projects.
MPS is authorized under state law to carry up to $744M in debt, according to the school’s financial services provider, based on its asset values of $5.3B. The District’s current debt stands at $310M. (Source)