Lake Oswego Schools Bond Issue Has Successful Sale, District Announces

Lake Oswego OR

02 April, 2022

12:48 AM

Description

LAKE OSWEGO, OR — From replacing outdated computers at Lake Grove Elementary School to replacing the broken bleachers in the gymnasium at Lake Oswego High School, the Lake Oswego School District's bond measure is moving forward with its plan to upgrade every school in the district. Lake Oswego voters approved a $180 million bond authorization last November. This week, the district announced that it had offered $153 million worth of bonds up for sale and ended up generating $165 million. It attributes the extra proceeds to the district's S&P credit rating, the highest of any district in the state. When the voters approved the measure, they were assured that they would not see their property taxes increase more than 92 cents per $1,000 of assessed value. The district will submit an updated property tax rate estimate for the 2022-23 year with the Legal Budget Committee on April 27. It will not exceed the approved 92 cents, according to the district.