Colonial School District attains Aaa bond rating
The Colonial School District recently received a Aaa rating, the highest possible, from Moody’s Investors Service for its first set of bonds for the new Colonial Middle School project. The Aaa rating means that the District’s bonds are considered of the “highest quality, with minimal risk,” and will allow the District access to the lowest available borrowing costs.
We are committed to investing in our students while respecting our taxpayers. This Aaa rating reflects the Board’s commitment to fiscal responsibility, the administration’s prudent approach to budgeting, and, most importantly, our community’s strong support for public education.
Among the factors highlighted by Moody’s in its Aaa rating are the District’s strong reserves, conservative budgeting, strong fiscal controls, growing economy, large tax base, and willingness to invest in education, stated school board director Adam Schupack in a press release.
The funds from these Aaa-rated bonds will be used to begin construction on a new Colonial Middle School to serve the District for the next 50 years. The new Colonial Middle School is being built to accommodate a projected enrollment increase of more than 300 students. It will be located on the same property as the existing middle school in Plymouth Township.
This state-of-the-art facility, designed for 21st century learners, will include modern classrooms, more natural light, enhanced technology, more efficient systems, and increased parking. It will be fully ADA-compliant and designed with security in mind.