In October, Martinez Unified School District sold the final series of general obligation bonds from its 2016 Measure R Election.  Measure R was a $120 million school improvement bond measure to address outdated classrooms and inadequate school facilities that was approved by Martinez voters in November 2016 with 67% voter approval.

For the most recent bond sale, the District took advantage of historically low interest rates due to the coronavirus pandemic and overall economic uncertainty and issued the final $30 million in bonds.  Highlights from the successful bond sale include a “True Interest Cost,” or average borrowing rate, of 3.14%, and perhaps most notably, a reduction in total borrowing costs of $45.6 million compared to the original 2016 estimates. 

See full press release here.