Bond Issuance Information

  • Voter Approved, Tax Exempt General Obligation Bonds
  • 22 Year Serial Bonds
  • Total amount to be bonded
    • $119,000,000
  • Estimated True Interest Rate
    • 4.424%
  • Projected Required Bond Levy
    • 6.7 cents per $100 valuation


District Bond Debt Information
  • Six bond issues since 2003 for a total of $198 million
  • The District has approximately $173,145,000 in outstanding debt
  • The District is on schedule to pay off existing bond
  • Last 20 Years $25 million in bond debt has been paid, but we will pay over $28 million in the next five years (Almost $8 million in 2023-24 alone). 
  • $63 million over the next 10 years
  • Larger principal payments are now happening!


Estimated Bond Payoff Schedule

Valuation Assumptions
The assumed valuation increases are 9% over the next five years, 7% over the next five years, and 5% each year following. If the Bond Fund levy stays at 40.7 cents, the following scenarios are anticipated:

Anticipated Scenario
  • Utilizing the assumptions, the LOWEST the bond fund reserve would be in the next 12 years is $5,824,979.
    Utilizing the assumptions, by 2034 BPS would actually have $16,159,484 in reserve

Worst Case Scenario

  • If the district assumed valuations were 6.88% each of the next 10 years, BPS would still be able to make payments with a final Bond Fund balance reserve of $1,770 in 2034-35 which is the year prior to several bonds dropping off the tax rolls.

Best Case Scenario

  • The assumptions are low and valuation growth increases faster than anticipated. At which time, the district could examine if the bond levy could be decreased.
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