THANK YOU, BLUE VALLEY! BOND ELECTION PASSES
In January 2020, Blue Valley voters endorsed a $186,835,000 bond election 73.8 percent to 26.2 percent. The no tax rate increase bond will reinvest in facilities and technology, reinforce school safety and reimagine learning environments and programs that will benefit students and staff for years to come.
The passage of the bond election affirms the community’s commitment to investing in high-quality schools and education. High-quality schools not only drive economic development but also greatly impact the quality of life in a community. We thank our community for entrusting us with this great responsibility and we look forward to the work ahead.
BLUE VALLEY ISSUES FIRST BONDS FROM 2020 REFERENDUM, REFUNDS BONDS SAVING TAXPAYERS $2.39 MILLION
On Monday, April 13, the Blue Valley Board of Education issued the first bonds from the 2020 bond referendum passed by district voters on January 28, 2020. Blue Valley registered voters approved a $186,835,000 referendum that will reinvest in facilities and technology, reinforce school safety and reimagine learning environments and programs that will benefit students and staff.
The principal amount of bonds sold in the 2020-A series was $125 million. There were seven institutions bidding on the bonds with the low bidder being Bank of America Merrill Lynch with an interest rate of 2.151220%.
Blue Valley’s Board of Education also issued $12.485 million in general obligation refunding bonds in an effort to secure a lower interest rate and savings for taxpayers. Four institutions bid on these bonds, with the low bidder being Piper Sandler & Co. at 1.277843%. These bonds originally sold at a higher interest rate in 2009 and 2011. The new lower interest rate will save district taxpayers $2.39 million in interest payments. The closing and delivery on both sales is scheduled for May 7, 2020.
During a rating review last month, Moody’s Investor Services reaffirmed the district’s Aaa bond rating and Standard and Poor’s reaffirmed the district’s AA+ bond rating.