On Thursday, January 17, the Mountain View Whisman School District issued its first series of general obligation bonds under Measure G, which was authorized by voters at an election held on June 5, 2012. The District took advantage of the historically low interest rate environment and issued $50 million in new bonds at an overall interest rate of 3.47%.
“We were excited to be able to lock in interest rates near their all time lows,” stated Superintendent Craig Goldman. “The results of this bond sale are a testament to the District’s name recognition and strong credit rating.”
The District was able to lock in aggressive interest rates by securing a rating of ‘AA’ from the rating agency Standard and Poor’s and ‘Aa2’ from the rating agency Moody’s Investors Service. This top rating distinguished the District’s bond offering from other municipal bonds in the marketplace and resulted in very strong investor demand.