AISD Bonds Ready To Sell

Posted Date: 06/03/2020

Amarillo ISD voters approved the issuance of $100 million of bonds for enhanced safety and security measures, classroom additions, facility updates across the district, and restoration and replacement of the infrastructure at many of the district’s older schools.

For those residents of the District that may be interested in purchasing some of the bonds for their personal investment, the following information is provided:

• The bonds will be sold in two phases.  The first phase will be a competitive sale on January 16^th.  The winning bidder that provides the lowest interest rate to the District will then own these bonds and will distribute these bonds to investors according to its own methods.
• The second phase of the bond sale will include a designated underwriter of the bonds that will be required to give priority to orders from local residents of Amarillo ISD over any and all other orders.
• The bonds of the second phase designed for local resident investment will include maturity dates ranging from 1 year to 10 years.
• The bonds will be rated “AAA/Aaa” based upon the Permanent School Fund Guarantee.
• The interest rate and yield to maturity for each of the various maturity dates will be determined at the time of sale based upon bond market conditions.
• A sample of current like-kind investments is: 5-year yield to maturity = 1.80%, 10-year yield to maturity = 2.20%.
• The bonds of the second phase designed for local resident investment are anticipated to be sold in a public offering the week of February 5^th.

If you are interested in potentially purchasing some of the bonds, please email Pati Buchenau at pati.buchenau@amaisd.org with your contact information, and a representative, at the appropriate time, will provide further instructions on who you or your financial consultant will need to contact.

This message is provided only as public service information for residents of the AISD.  AISD is not soliciting investors nor providing a recommendation regarding investment in the bonds.  The public offering of these bonds will be made only by an Official Statement, which will be released prior to the date of the sale of the bonds and which should be read in its entirety by potential investors.