Bond Program

In 2024, MPCSD voters approved Measure U, authorizing $123.6 million in school improvement bonds (passed with 71% voter approval).
The estimated tax rate and full repayment schedule will be determined as the remaining series are issued.

 

MPCSD plans to issue the 2024 Bonds in three series: Series A, Series B, and Series C.

Details for Series B and Series C, including issuance dates and repayment schedules, will be provided at a later time.

The 2024 Bonds will provide funding for key district facilities and capital improvements, with a repayment structure aligned with voter-approved priorities.

In November 2013, MPCSD voters approved Measure W, authorizing $23 million in school improvement bonds (passed with 75.3% voter approval).
The estimated tax rate at the time of issuance was $8.70 per $100,000 of assessed value (AV).

 

MPCSD issued the 2013 Bonds in one series:

The 2014 Bonds were issued as 100% current interest bonds, meaning interest was paid as it accrued. Prior to the completed bond refinancing, the 2013 Bonds had a total debt repayment ratio of 1.68 to 1 (total principal + interest compared to the original bond amount).

In June 2006, MPCSD voters approved Measure U, authorizing $91.1 million in school improvement bonds (passed with 70.6% voter approval).
The estimated tax rate at the time of issuance was $28 per $100,000 of assessed value (AV).

 

MPCSD issued the 2006 Bonds in three series:

The 2006 Bonds were structured as 48% current interest bonds and 52% capital or convertible capital appreciation bonds. Prior to subsequent bond refinancing, the 2006 Bonds had a total debt repayment ratio of 3.13 to 1 (total principal + interest compared to the original bond amount).

In November 1995, MPCSD voters approved Measure D, authorizing $22 million in school improvement bonds (passed with 82% voter approval).
The estimated tax rate at the time of issuance was $37 per $100,000 of assessed value (AV).

 

MPCSD issued the 1995 Bonds in two series:

Both Series A and Series B were issued as 100% current interest bonds, meaning interest was paid as it accrued. Before the District completed subsequent bond refinancing, the 1995 Bonds had a total debt repayment ratio of 1.80 to 1 (total principal + interest compared to the original bond amount).