Sacramento Unified gets $19M construction bond from stimulus
Sacramento Business Journal - by Kelly Johnson Staff writer
Sacramento City Unified School District has received a $19.3 million construction bond authorized by the federal stimulus, Congresswoman Doris Matsui announced Wednesday.
Sacramento City Unified can use the bond to finance the construction, renovation or repair of buildings or to acquire land for a new school.
Investors who buy these construction bonds receive federal income tax credits at prescribed tax credit rates instead of interest, a news release said. The tax credit bonds allow state and local governments to borrow without incurring interest costs.
“Across California, schools have faced harmful budget cuts that put our children’s development in jeopardy,” Matsui, a Sacramento Democrat, said in the news release. “I am