School Board Approves $25 Million Bond Sale

The sale of $25 million in general obligation bonds was approved Monday by the Martinez Unified School District Board of Education. The money was part of a voter-approved $45 million bond measure. The money will be used for a variety of projects, which include:

• new plumbing;
• renovation of aging classrooms and construction of new ones;
• expansion of the Alhambra High School Performing Arts Building.

The funds will also go toward a district-wide plan to create technical career classrooms, where students would learn skills and technologies for specific career paths, such as health care, auto repair, performing arts and science.

A portion of the money will also be used to improve and enhance energy efficiency throughout the district’s schools. Currently some schools in the district have leaky roofs, old windows, and heating and cooling systems that are outdated.

“The bond has items on it geared toward making us more energy efficient,” said assistant superintendent Rick Rubino.

Though at one time, energy improvement projects included the installation of solar panels at Alhambra High, Rubino said that option has become less attractive.

“PG&E eliminated the rebate for solar panels,” he said, “and the board is kind of backing away from the solar field. There hasn’t been a lot of discussion at the board level about those lately.”

He said staff is still in favor of installing a solar energy system at the school, because it is believed to be ultimately less expensive than more standard power sources.

The $45 million bond, approved in November 2010, will be paid by property owners over 25 years. The rate is about $60 per $100,000 in assessed value. Property owners are already paying that rate for a previous school bond - this bond will merely extend that payment, but will not increase it.

The board also approved a refinancing of $14.5 million in outstanding bonds. The refinancing of those bonds will take advantage of better interest rates currently in place.