Los Altos School District
Santa Clara County, CA
General Obligation Refunding Bonds

Los Altos Elementary School District

Invest in the Los Altos Elementary School District today. The district is refinancing a portion of its outstanding bonds issued in 2006 to reduce its ongoing debt service costs.


Issuance characteristics
  • Refunding
  • Not callable
  • Federally tax exempt
  • General Obligation
  • Competitive sale

About this bond issuance

  • Purpose

    The District proposes to issue $32,550,000 aggregate principal amount of its 2016 General Obligation Refunding Bonds (the "Bonds") in order to (i) refund, on a current basis, all of its outstanding 2006 General Obligation Refunding Bonds (the "2006 Bonds") and (ii) pay all legal, financial and contingent costs in connection with the issuance of the Bonds. See "PLAN OF REFUNDING" below

  • Obligor

    Los Altos Elementary School District

  • Issuer

    Los Altos School District

  • Authority

    The 2006 Bonds were issued in order to refund certain outstanding general obligation bonds of the District which were issued under and pursuant to a bond authorization (the "1998 Authorization") for the issuance and sale of not more than $94,700,000 of general obligation bonds approved by the requisite two-thirds of the qualified voters of the District voting on the proposition at a general election held onNovember 3, 1998 (the "Election"). No further bonds remain for issuance pursuant to the 1998Authorization. Refunding bonds are not counted against the authorization amount and, therefore, theDistrict may issue the Bonds, as well as additional refunding bonds in the future, to refund outstanding general obligation bonds issued pursuant to the 1998 Authorization. The Bonds are issued on a parity basis with all general obligation bonds of the District.

  • Security

    The Bonds are general obligations of the District payable solely from ad valorem property taxes.The Board of Supervisors of the County is empowered and obligated to annually levy ad valorem property taxes upon all property subject to taxation by the District, without limitation as to rate or amount (except certain personal property which is taxable at limited rates), for the payment of principal of and interest on the Bonds when due.

About the issuer

Contact information
Website

Ratings

Ratings

AA+

S&P

Aaa

Moody's

Fitch

Financing team

Neighborly Securities
Neighborly is a market participant on this issuance.