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The Redwood City School District on Wednesday will give taxpayers an overview of its Measure T bond financing, addressing its bond sales and setting the stage for future bond issuances.
Taxpayers will also hear how bond funds have been used since voters approved the $193 million bond roughly seven years ago.
During the Wednesday RCSD school board meeting, which will begin at 6:30 p.m. instead of its regularly scheduled time of 7:00 p.m., attendees will hear from Blake Boehm from KNN Public Finance, the finance firm that has been advising the district since 2009.
According to a report provided by the district, the district said it remains below its max tax commitment of $30 per $100,000 of assessed value.
While the district’s use of Measure T is audited once a year by a third-party, public accounting firm, the funds are also reviewed by a citizen’s bond oversight committee (CBOC), a group of nine members who convene every four months to discuss district projects that are funded by the bond. The CBOC also reviews the independent auditor’s report.
In November 2022, voters approved Redwood City Elementary School District’s Measure S $298 million bond. The district has yet to establish a CBOC for Measure S.
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