The Dublin Unified School District (DUSD) announced the sale of its first round of General Obligation Bonds from Measure J.
The Series A-1 and Series A-2 Bonds were sold for $3 million and $113 million, respectively. The DUSD Board of Trustees approved the sale of $116 million of Measure J bonds during the Aug. 24 board meeting.
“Phase 1 of the Emerald High School project is designed to accommodate approximately 1,300 students,” said Chris Funk, DUSD superintendent. “The sale of these bonds provides the final element of financing needed to make completing this phase a reality. The district’s excellent credit rating, combined with low-interest rates, made this the ideal time to make this sale.”
The net proceeds of the Series A-1 Bonds will be applied to district-wide technology infrastructure projects. The net proceeds of the Series A-2 Bonds will be applied to the completion of Emerald High School, Phase 1, which includes one of the site’s two academic towers, a gymnasium, visual and performing arts classrooms, administrative and counseling space, a football field, a track, and tennis courts. It will also allow the district to begin work on Phase 2 of the school.
Measure J, which was approved by the Dublin community during an election in March 2020, authorized the issuance of general obligation bonds for the purpose of financing the construction, improvement, and equipping of school facilities.