The capital improvements to be funded through this bond program will take several years to complete. As a result, bond proceeds will be needed over time and not at once.
Because all proceeds of a bond issue are immediately available, and interest begins to accrue on the entire amount at delivery, the District will not issue bonds all at once.
Instead, bond issues will be separated and timed to match identified construction milestones, reducing the amount of interest owed during the construction period.
Utilizing this process, the District projects that no tax increases will be needed until at least 2025, and new residents moving to the District will participate in repayment of a larger percentage of the overall bond program.