Underwriters sold $200,955,000 in Tigard-Tualatin School District construction bonds on March 8. The district received a $31 Million premium for the bonds sold which can be applied toward bond measure projects.
The dollar amount sold reflects the cost of projects anticipated to be completed within three years. A balance of $90,360,000 in unsold bonds remains. Those bonds will be sold at a later date to finance projects--including the Art Rutkin Elementary School--that will be completed after the first three-year window.
The outcome of the sale maintains the estimated tax levy rate that was approved by voters.