Featured Municipal Bond Issue, Week of 08/14/2017: Lake Oswego (OR) School District No. 7J – General Obligation Bonds – $160 Million
This week’s featured bond comes from the State of Oregon. The Lake Oswego School District #7J is issuing general obligation bonds in the amount of $160 million the week of August 14, 2017. These Lake Oswego bonds are being issued as a single, negotiated, tax-exempt series. The bonds are being issued to finance capital costs. Planned capital projects include strengthening existing schools against earthquakes, updating or replacing facilities such as the District pool, and replacing Lakeridge Junior High School.
Security for the bonds is a general obligation pledge of the full faith and credit and taxing power of the School District. Further details on the purposes, tax-status, and security, as well as other matters pertaining to these Lake Oswego School District general obligation bonds can be found in the preliminary official statement, provided by MuniOS.
The Lake Oswego School District is part of the Portland-Vancouver-Hillsboro, OR-WA Metropolitan Statistical Area. As of June 2017, the Portland MSA has an unemployment rate of 3.9%, which is 0.4% lower than the national rate for June, and 1.2% lower than at the same time in 2016. The chart below (click to expand) shows the changes in the Portland metro area, State of Oregon, and U.S. unemployment rates for the past ten years. MuniNet provides this data and more, easily accessible, for all 50 states and each Metropolitan Statistical Area in the country, in our Employment Database.
Provided at left (click to expand) is a quick snapshot of financial characteristics of Lake Owsego School District as of 6/30/2016, compared with the medians for other U.S. school districts for 2015-2016, courtesy of Merritt Research Services, LLC. Merritt has many of the sector medians publicly available and regularly updated on their Benchmark Central page. (Merritt believes the data to be reliable but does not make any representations as to its accuracy or completeness). In addition to the Merritt information related to the featured bond, more information can be found on our municipal bond calendar, city, state, and county pages, and our employment database.
These facts and numbers are for informational purposes, and should not be considered an official disclosure for potential investors. Investors should consult the official statement. None of the information provided should be construed as a recommendation by MuniNet Guide, MuniNet LLC, Merritt Research Services LLC, or any of their employees. Information and analysis is for informational purposes only.
by Jeffrey L Garceau