The first sale of this new authorization will take place May 1, 2001. The attached report provides an estimated project schedule for each of the projects included in the 2000 General Obligation Bond authorization. This schedule assumes a nine-year time frame for issuance of all the bonds and is organized by proposition. It should be noted that this schedule is an estimate. There are several factors that may require the timing of projects to change.
Priorities can change.
Some projects may become more urgent if emergency situations develop or infrastructure deteriorates more quickly than anticipated for example. Changes in interest rates. Lower interest rates will reduce debt service requirements therefore allowing a larger amount of principal to be issued. This factor can also impact the number of years it will take to issue all the bonds. Please contact me if you have any questions.