The San Mateo County Times' Neil Gonzales reports on some good financial news
The San Mateo Union High School District's credit rating has earned a boost, potentially saving residents millions of dollars on construction bonds.
Both Moody's and Standard & Poor's, which evaluate credit worthiness, have raised San Mateo Union's rating from AA-minus to AA, district leaders said. The improvement will save district taxpayers about $1.5 million over time on projects funded by the $298 million Measure M bond, which voters passed in 2006, according to Elizabeth McManus, San Mateo Union's deputy superintendent for business services.
The improved rating "speaks to the fiscal prudence and stability of the district," McManus said.
San Mateo Union's effort in securing the higher rating is noteworthy given the state's current fiscal woes, added district board member Stephen Rogers.
The district is also eyeing programs available under the federal economic stimulus package that would allow residents "to pay the least amount of debt for a bond issuance," McManus said.
What would you like to see the District do with that million five?
I don't believe that the district can do anything with the savings. Since the savings comes from the bond fund, it can only be used for capital projects.
How about posting the recent SM Daily Journal article on the candidates for the SMUHSD Board. We could use some comments on the candidates.
Posted by: KRN | September 13, 2009 at 06:45 PM
Can you help figure these people out?
Posted by: commuter | September 14, 2009 at 07:53 PM