Overview of District Bonds & Debt

February 21st, 2025 /
Eliza Tuinei /
Business, Community Essentials Features, Construction Update, News, PCSD School Board

Upcoming Lease Revenue Bond Information

Total Existing Long Term Debt

Year Ending (June 30)	Principal	Interest	Total Long-Term Debt
2025	13,253,096	8,487,760	21,740,856
2026	20,747,000	7,881,968	28,628,968
2027	14,100,000	7,139,835	21,239,835
2028	12,965,000	6,569,685	19,534,685
2029	13,480,000	6,045,710	19,525,710
2030-2034	76,475,000	21,227,050	97,702,050
2035-2039	63,605,000	8,809,953	72,414,953
2040-2042	30,260,000	1,533,100	31,793,100
Total	$244,885,096	67,695,060	$312,580,156

Total Long Term Debt with New Lease Revenue Bond

Year Ending (June 30)	Principal	Interest	Total Long-Term Debt
2025	13,253,096	8,487,760	21,740,856
2026	20,747,000	10,506,968	31,253,968
2027	14,100,000	9,764,835	23,864,835
2028	15,377,347	9,194,685	24,572,032
2029	15,982,810	8,580,247	24,563,057
2030-2034	90,469,281	32,419,503	122,688,784
2035-2039	80,427,522	17,174,165	97,601,687
2040-2044	50,482,351	6,497,483	56,979,834
2045-2047	14,045,690	1,066,351	15,112,041
Total	$314,885,097	103,691,996	$418,577,093

General Obligation Bonds

General obligation (GO) bonds are a way for Utah school districts to raise money for construction and improvements. Voters must approve the bonds in a November general election.

Series	Purpose	Original Amount	Interest Rate Range	Final Maturity Date	Current Outstanding Balance
2015 Series G.O. Bonds	Provo High, Edgemont, Sunset View, Provost, Rock Canyon	$50,615,000	2.25% to 5%	June 15, 2035	$32,350,000
2016 Series G.O. Bonds	Provo High, Edgemont, Sunset View, Provost, Rock Canyon	$50,650,000	2.00% to 5%	June 15, 2036	$36,300,000
2021 Series G.O. Bonds	Timpview High School	$73,670,000	1.75% to 5%	June 15, 2041	$69,820,000
2021B Series G.O. Bonds	Bond Refunding 2021B (refunding) – was originally voted on in 2006 – Centennial major remodel, Timpanogos, Lakeview	$22,790,000	2.13% to 5%	June 15, 2027	$5,885,000
Total					$144,355,000

Lease Revenue Bonds

Lease Revenue Bonds allow school districts to address facility needs. Lease Revenue Bonds are approved by the board of education, convened as a Municipal Building Authority.

Series	Purpose	Original Amount	Interest Rate Range	Final Maturity Date	Current Outstanding Balance
2010 MBA Lease Revenue Bonds	Provo Peaks	$6,462,000	1.23%	June 15, 2026	$6,462,000
2022 MBA Lease Revenue Bonds	Shoreline and Wasatch	$100,355,000	3.00% to 5.00%	March 15, 2042	$94,055,000
Total					$100,517,000

Tax Implications

Year	Existing Debt (Per 100,000 residential valuation)	With Additional Lease Revenue Bond Debt (Per 100,000 residential valuation)
2025	123.13	123.13
2026	125.58	128.57
2027	117.87	126.37
2028	108.41	134.90
2029	108.36	136.32
2030	108.45	136.41
2031	108.50	136.46
2032	108.35	136.30
2033	108.47	136.42
2034	108.44	136.40
2035	108.41	136.36
2036	88.87	116.83
2037	68.21	96.17
2038	68.19	96.15
2039	68.19	96.15
2040	68.20	96.16
2041	68.20	96.15
2042	40.04	68.00
2043	–	27.96
2044	–	27.96
2045	–	27.96
2046	–	27.96
2047	–	27.96
2048	–	–