The Bond Issue Passed - Now What?

Prop 5: Next Steps

Nearly 11,000 Rockwood voters endorsed a check for $55 million when they approved Prop 5 on April 6, 2010. 

This latest bond issue focuses on five SMART priority areas:

• Safety measures and infrastructure
• Maintenance of current facilities
• Additions for classrooms
• Renovations for instructional areas
• Technology infrastructure

Here is what stakeholders can expect to see during the next two years of this bond issue cycle:

In June 2010, Rockwood’s bond advisors will sell the bonds competitively.  Since these are AAA bonds, they are very attractive.  A list of prospective bidders is formed and the bidder with the lowest interest rate will be awarded the bonds.

Once the bonds are sold, Rockwood has the funds needed to begin working on the school project list with contractors.

Rockwood’s construction management company works with the district’s facilities department to plan and design the work; facilitate the bid process; and award contracts for the various projects.

A schedule for projects is developed. Stakeholders can follow the progress of the various projects and see when they are completed on the bond issue progress chart.