San Ramon Valley Unified School District officials have announced the completion of the district's third and final Measure D bond sale, generating $60 million in cash proceeds to fund the development of public school facilities throughout the Valley.
A voter-approved bond authorization passed in 2012, Measure D bond sales have generated $260 million to fund large-scale school facility projects such as the efforts to modernize the Stone Valley Middle School campus in Alamo, and smaller ones such as rebuilding California High School’s Mangos Bridge in San Ramon.
“We are very pleased with the financial terms of this sale, which represent a historically positive outcome for the taxpayers of the SRVUSD,” Superintendent Rick Schmitt said in a statement Tuesday. “We are grateful to our community for their continued support and investment in our schools and students.”
The first series of Measure D bond sales, worth just under $75 million, was completed in March 2013. This was followed two years later by the second sale, which came in at $125 million.
During each sale, the district was able to keep their commitment to voters of keeping the total yearly cost to homeowners at or below $75 per $100,000 of assessed valuation, according to SRVUSD spokeswoman Elizabeth Graswich.
This latest series will be used to fund Measure D's largest projects the Stone Valley and San Ramon Valley High School modernization projects.
Funds will also be used to finance the modernization efforts being made at Golden View, Montevideo, Ranch Romero, Vista Grande and Green Valley Elementary Schools this summer.
Future projects include upgrades to Sycamore Elementary, scheduled to begin summer 2019, as well as additional modernizations at Alamo and Twin Creeks Elementary Schools and Charlotte Wood Middle, scheduled to begin summer 2020.
A full list of projects currently utilizing Measure D bond funds can be found on the district’s website at buildsrvschools.org.