Walla Walla Taxpayers Save Millions Through Successful Bond Sales
Walla Walla Public Schools sold bonds from the successful November 6 General Election Thursday in Seattle that resulted in millions of dollars in savings for taxpayers. Favorable market conditions, coupled with the district’s strong Aa3 underlying credit rating, generated robust interest from investors.
The competitive 3.2% overall rate, nearly 1% less than preliminary estimates, represents an extremely low borrowing amount, shaving over two years off of bond payments, saving taxpayers over $13.4M in interest payments over the life of the bonds.
The bonds will be paid off years earlier and the projected bond rate taxpaers will be paying will be the lowest in 10 years.
“For more information about the bond program, visit the bond website at www.wwpsbond.org or follow progress updates on Twitter @bondwwps
Photo L-R: Bond Oversight Committee Chair Scott Morasch, Superintendent Wade Smith and School Board Vice President Sam Wells review bond sale documents.