Denver Public Schools went to market Monday with $150 million in construction bonds, part of the $454 million bond package approved by voters in November.
Trinidad Rodriguez, vice president in George K. Baum & Co.’s Education & Non-Profit Finance Group, said the sale was going well Monday and will continue today.
The district waited four months to sell the bonds — the largest bond issue in state history — because of market uncertainty on municipal bonds.
In the interim, DPS officials asked rating companies to reaffirm the district’s good credit rating, said David Suppes, DPS chief operating officer. Moody’s Investor Service and Standard & Poor’s gave DPS high marks.
The $454 million is expected to cover construction projects over five years, although Suppes said much of the work is to be finished within four.
This year, the district will get started on 200 or more projects with a priority on fixing critical maintenance needs, such as replacing boilers and roofs and updating security systems.
“We will actually start moving forward with . . . bids next month with the majority of the work being done in the summer,” Suppes said.
