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Albany Unified School District - $70,000,000 Proposition 46 and $25,000,000 Proposition 39 Bond Measures (June 2016)

As of: 4/22/2016

General Obligation Bonds - Tax Levied Per $100,000 of Assessed Valuation

District Assessed Valuation

Bond Measures Previously Approved by Voters

Actual and Projected AV

1993 Authorization

Prop 47 Auth - $70,000,000

Prop 39 Auth - $25,000,000

All Bond Measures Combined

1993 Auth

Prior Bonds

2004 Measure A

Prior Bonds

2008 Measure E

Prop 47

Prop 47

Prop 39

Prop 39

Combined

Combined

Total
Debt Service (1)

Tax Per

Total
Debt Service (1)

Tax Per

Total
Debt Service (1)

Tax Per

Total

Tax Per

Total

$100,000 of AV

Debt Service

$100,000 of AV

Debt Service

Tax Per
$100,000 of AV (2)

Debt Service

District

Tax Per

Year

Growth Rate

AV

$100,000 of AV

2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058

4.00%
4.00%
4.00%
4.00%
4.00%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%
3.25%

$2,317,829,690
2,410,542,878
2,506,964,593
2,607,243,176
2,711,532,903
2,819,994,220
2,911,644,032
3,006,272,463
3,103,976,318
3,204,855,548
3,309,013,353
3,416,556,287
3,527,594,367
3,642,241,184
3,760,614,022
3,882,833,978
4,009,026,082
4,139,319,430
4,273,847,311
4,412,747,349
4,556,161,638
4,704,236,891
4,857,124,590
5,014,981,139
5,177,968,026
5,346,251,987
5,520,005,177
5,699,405,345
5,884,636,019
6,075,886,689
6,273,353,007
6,477,236,979
6,687,747,181
6,905,098,964
7,129,514,681
7,361,223,908
7,600,463,685
7,847,478,755
8,102,521,814
8,365,853,773
8,637,744,021
8,918,470,701
9,208,320,999

$106.24
$107.77
$95.37
$61.03
$22.16
$9.90
$9.55
$9.27
$8.98
$8.77
$8.41
$8.19

Total Debt Service:

$2,561,038
2,701,813
2,486,513
1,654,888
624,838
288,238
286,988
287,588
287,788
290,138
287,188
288,750

$100,000 of AV
$27.98
$26.81
$25.67
$29.54
$32.22
$38.36
$30.59
$29.72
$28.58
$24.71
$27.16
$24.84
$24.06
$23.24

$12,045,763

Other Information
Avg AV Growth Projected:
AV of Median Single Fam Home

3.34%
$359,802

If Voters Approve Bond Measures in June 2016*

Prior Bonds
AV

2004 Measure A

(1)

2008 Measure E

$674,438
672,038
669,238
801,038
908,638
1,116,938
919,638
922,438
915,988
817,638
927,988
876,425
876,144
873,956

$100,000 of AV
$18.58
$17.86
$17.18
$18.36
$53.75
$58.64
$54.71
$52.43
$53.06
$47.79
$45.95

$11,972,538

$447,800
447,800
447,800
497,800
1,515,800
1,707,300
1,644,700
1,627,500
1,700,500
1,581,500
1,569,750

$60.00
$60.00
$108.00
$108.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00

$13,188,250

1,504,179
1,564,346
2,928,456
3,045,594
3,493,973
3,607,527
3,724,772
3,845,827
3,970,816
4,099,868
4,233,113
4,370,689
4,512,737
4,659,401
4,810,831
4,967,183
5,128,617
5,295,297
5,467,394
5,645,084
5,828,550
6,017,977
6,213,562
6,415,502
6,624,006
6,839,286
7,061,563
7,291,064
7,528,024
7,772,684

$60.00
$60.00
$60.00
$60.00
$60.00
$59.27
$57.41
$55.60
$53.85
$52.16
$50.51
$48.92
$47.38
$45.89
$44.45
$43.05
$41.69
$40.38
$39.11
$37.88
$36.69
$31.62

$148,467,921

$1,446,326
1,504,179
1,564,346
1,626,920
1,691,997
1,725,836
1,725,836
1,725,836
1,725,836
1,725,836
1,725,836
1,725,836
1,725,836
1,725,836
1,725,836
1,725,836
1,725,836
1,725,836
1,725,836
1,725,836
1,725,836
1,535,994

$36,983,145

Current Repayment Ratio

Current Repayment Ratio

Current Repayment Ratio

Projected Repayment Ratio

Projected Repayment Ratio

Outstanding Bonds
Repayment Ratio

Outstanding Bonds
Repayment Ratio

Outstanding Bonds
Repayment Ratio

Auth Size
Repayment Ratio

Auth Size
Repayment Ratio

$10,520,000
1.15

$9,190,000
1.30

$9,490,000
1.39

$70,000,000
2.12

$25,000,000
1.48

* Preliminary, subject to change based on market interest rates and actual assessed valuation growth/decline.
(1)
The District has issued bonds under three prior bond authorizations. Alameda County does not separate out tax rate by authorization. Actual tax rates have been lower than projected.
(2)

Table reflects the savings from the refunding that priced in March 2016, reducing debt service obligations for taxpayers by over $1.9 million ($1.7 million on a present value basis); Repayment ratio reflects debt service beginning in 2017 as shown above.

$212.80
$272.44
$258.21
$276.93
$276.13
$286.17
$272.25
$267.02
$264.47
$253.43
$252.03
$201.95
$191.44
$189.13
$164.45
$163.05
$161.69
$160.38
$159.11
$157.88
$156.69
$151.62
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$120.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00

Total

$5,129,601
6,830,008
6,732,242
7,509,100
7,786,865
8,332,284
8,184,688
8,288,133
8,475,938
8,385,927
8,610,629
7,124,125
6,972,670
7,112,530
6,385,237
6,536,668
6,693,020
6,854,453
7,021,133
7,193,230
7,370,921
7,364,544
6,017,977
6,213,562
6,415,502
6,624,006
6,839,286
7,061,563
7,291,064
7,528,024
7,772,684
0
0
0
0
0
0
0
0
0
0
0

$222,657,616

Year
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058