Featured Municipal Bond Issue, Week of September 24, 2018: Unified School District #497 Douglas County, Kansas (Lawrence) — $43.5 Million
The Lawrence Unified School District #497, Kansas (officially called the Unified School District #497 Douglas County) is issuing $43.5 million in general obligation bonds for the purposes of capital improvements to existing schools. The bond issue being sold is the second and final portion of the original authorization of $87 million approved by the voters on May 2, 2017. The bonds are scheduled to sold by competitive offering on Monday, September 24, 2018.
The bonds are secured by a general obligation pledge of the school district, payable as to both principal and interest from ad valorem taxes, which may be levied without limitation as to rate or amount. the full, faith, credit and resources of the district are irrevocably pledged for debt service as it becomes due. The proceeds of the annual tax levy pledged to support the bonds are to be deposited in the bond and interest fund of the district and kept separate and apart from all other funds of the district.
Details on the purposes, tax-status, security, as well as other matters pertaining to these bonds can be found in the preliminary official statement, available on MuniOS. Search under Unified School District No. 497 Douglas County, Kansas (Lawrence)
The school district primarily serves the city of Lawrence and environs mostly in Douglas County, KS . The estimated population of the District is about 100,000 persons. It largely encompasses the Lawrence Metropolitan Area. As of July 2018, the Lawrence CBSA metro area has an unadjusted unemployment rate of 3.8%, which is 0.1% lower than the U.S. rate in July, and the same rate as the unemployment rate as of July 2017.
You can find 10-year employment and labor force trends for all 50 states and each Metropolitan Statistical Area in the U.S. in our Employment Database, and more labor sector growth and compensation data on our Job Market page.
Certain common ratios used by the school district, such as fund balance to expenses, are not available in the accompanying table since the school district’s audit is presented based on state statutory requirements rather than those conforming to generally acceptable accounting practices required by the Governmental Accounting Standards Board.
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.