TITLE

Colorado's St. Vrain School District Looks to Future With $96M GO Sale

AUTHOR(S)
Albanese, Elizabeth
PUB. DATE
April 2003
SOURCE
Bond Buyer;4/8/2003, Vol. 344 Issue 31610, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Saint Vrain Valley School District in Denver, Colorado will sell on April 8, 2003, 96.2 million dollars of general obligation bonds, the first installment of debt to be sold from a 212 million dollar bond authorization approved by voters in November 2002. UBS PaineWebber Inc. and George K. Baum & Co. are joint managers for the deal, which will finance a number of refurbishments and renovations, as well as two new elementary schools and two new middle schools. Saint Vrain caught the attention of the market in 2002 when finance officials announced that an error in payroll software had created an approximately 13 million dollar budget deficit. News of the shortfall came just as voters were expected to go to the polls in November 2002 for the Saint Vrain bond referendum, and some voters alleged that district finance officers had concealed the problem to keep the bond election on course.
ACCESSION #
9582499

 

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