Upcoming Measure ES Informational Coffee Meetings in February

ESUSD Superintendent Melissa Moore will host four upcoming coffee meetings to share information about Measure ES with parents and residents in February. Any parent or community member may attend any of the scheduled meetings (listed below) at any school.

 

On January 28, 2020, the Governing Board heard a special presentation from Tim Carty, financial advisor from Piper Sandler to rephase the Measure ES bond issuance from four series to three series issuance. This option was presented as a cost savings measure to:

 

  • Reassign bond projects from four to three phases to avoid construction cost escalation by $11,980,154
  • Reduce total interest expense by $11,505,894 on the $92,000,000 Measure ES Bonds
  • Decrease number of years taxpayers must repay Measure ES obligation from 30 years to 27 years
  • Reduce the Measure ES issuance transaction fees by roughly $240,000
  • Increase the projected tax rate by $5/per $100,000 of assessed valuation from $43 to $48/per $100,000 of assessed valuation for Measure ES bonds

The scheduled informational meeting dates are as follows:

  • Richmond Street School      February 13, 2020 at 9:00 am
  • El Segundo Middle School   February 14, 2020 at 9:00 am
  • El Segundo High School      February 19, 2020 at 8:00 am
  • Center Street School            February 21, 2020 at 8:30 am 

We are interested in hearing your feedback. Dr. Melissa Moore intends to bring recommendation regarding rephasing of the bond issuance to the Board of Education at the February 25 board meeting.

 

Links to information presented during these meetings:

 

Measure ES Bond Issuance Rephasing Presentation - February 2020

 

Measure ES Rephasing Impact to Homeowner - February 2020

 

 

 

2/11/20; REV 2/13/20