Ferndale school district sells $39.97 million of bonds

On June 19 the Ferndale School District sold $39,970,000 of tax exempt bonds. The sale will be used to help finance portion one of the $112 million bond projects approved by voters in February of this year. After a credit revue of the districts, Moody’s moved the district from an Aa3 rating to an Aa2 and assigned an Aa2 rating to the 2019 bonds, making the Ferndale School District one of the two highest-rated districts in Whatcom County. The rating will help the district get lower interest rates as they issue bonds in 2019. The interest rate is 2.79 percent. “Its gratifying to be able to lock in interest rates near historic lows for our bond projects The way that we have stewarded resources has made it possible to return great value to Ferndale voters and that is something we are very proud of,” said superintendent of the district, Dr.Linda Quinn. For more information visit www.ferndalesd.org

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