The latest news and information about the District and Preserves.
On August 18, 2016, the credit rating agencies of both Fitch Ratings, Inc. and Standard and Poor’s assigned to the Midpeninsula Regional Open Space District (District) a AAA rating, the highest available rating for financial performance.
The District’s strong management, financial position, and growing tax base are reflected in the District's recent credit ratings. In addition, the District Board of Directors voted to refinance current bonds at a lower interest rate estimated to save approximately $15 million. The Board also voted to issue the refinancing bonds as Green Bonds, which support environmentally-beneficial purposes, and to offer these bonds to individual retail investors and institutional investors through Morgan Stanley as the underwriter.
“This is a very exciting project,” stated General Manager Steve Abbors. “We’re saving the taxpayers approximately $15 million in future payments, paying bonds off three years early, issuing Green Bonds for the first time, tapping into the retail market for the first time, and we’re rated AAA.”
The District’s Green Bonds are expected to sell during the week of September 5, 2016. More information on the Green Bonds will be available on August 29.
This is not an offer to sell or a solicitation of an offer to buy the Green Bonds which can only be sold by the underwriters pursuant to an Official Statement of the District when available from the underwriter.