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$88 Million Bond - A New Era


$88 Million Bond - A New Era - Thank you Sunnyside Community
Upcoming Bond Advisory Committee Meetings:
(SUSD Governing Board Room) 6:00 p.m.

  • July 16, 2014
  • August 20, 2014
  • September 17, 2014
  • October 15, 2014
  • November 19, 2014
  • December 3, 2014
  • January 21, 2015
  • February 18, 2015
  • March 11, 2015
  • April 22, 2015
  • May 13, 2015
  • June 17, 2015

The Governing Board approved the sale of $14.675 million in bonds. $5.0 million was made available to purchase 40 new buses for the start of the 2012-2013 school year. The following is a disbursement of the bond monies:

  • $10 million to upgrade athletic facilities
  • $12 million for construction of a new fine arts magnet school
  • $32 million for school facility upgrades including safety and security improvements and energy conservation
  • $27 million for technology upgrades and expansion of one-to-one computing in all K-12 classrooms
  • $1 million for Safety and Security
  • $6 million transportation bond

A proposed schedule calls for seven sales of bonds over the next 10 years. The schedule can be refined to align with budget information on technology and the construction schedule for the K-8 fine arts magnet school. The sale schedule maintains the integrity of the promise made to taxpayers to keep the tax levye at or below the current amount for the life of the bond. Funding from the first sale of $14.6 million in bonds would be available in March 2012. Of that, $5.76  million could be designed for furniture, fixtures and equipment (FFE) which includes technology (computers/laptops/software). Payments for buses can be amortized over a longer period of time, meaning they do not have to be paid in full immediately. Law requires that bond funds be used within three years of sale.

Bond Advisory Committee    |  Meeting Agenda June 13, 2012
To fulfill its commitment to the community, the Governing Board of the Sunnyside Unified School District is establishing a Bond Advisory Committee. The purpose of the committee is to oversee the expenditure of $88 million in bonds over the next several years as approved by voters in November 2011. The Bond Advisory Committee would make recommendations to the Governing Board.

Each of the five Governing Board members will appoint one person to the nine-member Bond Advisory Committee, and four will be selected by the Board from community members who apply. To apply to serve on the Bond Advisory Committee, you must be at least 18 years old and live within the Sunnyside District and be a registered voter. Employees of the Sunnyside District or any vendor, contractor or consultant of the District may not serve on the Bond Advisory Committee.

Applicants are asked to serve on the committee for a two-year term, and to commit to regular attendance at meetings. Applications will be accepted until May 25. To apply, please fill out the application form available online. You may also request an application be mailed to you by calling 545-2022 or pick one up at 2238 E. Ginter Road.

Bond Advisory Committee Application:   PRINT  |  ONLINE

Bond Advisory Committee Bylaws

Projected Pace of Bond Fundings *

Estimated Issuance Dates Fiscal Year Ending Estimated Bond Issuances Student Technology & Security Other Projects (including FF&E Eligible) Amount Ineligible for Equipment/Technology
Buses Facilities, Athletics & K-8 Fine Arts
Mar 2012 2012 $14,675,000 $5,760,000 $0 $5,000,000 $3,918,000
July 2013 2014 14,675,000 6,090,000 0 0 8,585,000
July 2014 2015 11,500,000 5,785,000 0 0 5,715,000
July 2015 2016 10,750,000 6,120,000 0 0 4,630,000
July 2016 2017 0 0 0 0 0
July 2017 2018 11,125,000 4,245,000 2,535,000 1,000,000 3,345,000
July 2018 2019 0 0 0 0 0
July 2019 2020 11,000,000 0 7,280,000 0 3,720,000
July 2020 2021 0 0 0 0 0
July 2021 2022 14,275,000 0 5,830,000 0 8,445,000
    $88,000,000 $28,000,000 $15,645,000 $6,000,000 $38,355,000

* Based on imposed $6.65 million annual levy limit and available bonding capacity, among other assumptions. Only bond principal retired within approximately 5 years is eligible to be spent on technology and equipment.