Value Delivered:

KNN Public Finance structured two general obligation bonds worth $15 million for the Piedmont Unified School District (PUSD). KNN assisted the school district in evaluating various tax levy options and bond authorization amounts.
   
Strategic Implementation:

Structural engineering studies of the PUSD's buildings showed that many school sites risked collapse or significant damage in the event of an earthquake. Voter approval of Measure E authorized the sale of up to $56 million in bonds to shore up the school buildings. KNN assisted the school district in placing Measure E on the ballot and in structuring the complex first stage of funding, to be spent on engineering and design work and initial construction costs at all PUSD schools.
   
Results:

KNN helped PUSD to obtain favorable ratings of "Aa3" from Moody's for the Series A & B bonds of approximately $15 million and the district's outstanding general obligation debt of $33.1 million. Competitive bids were obtained from six underwriters.