Published on Thursday, August 28, 2008
By Pasadena Star Staff Writer
PASADENA - With two months before residents cast their votes on the newest school bond measure, the Pasadena School Board has approved an investment bank that would underwrite the bonds.
RBC Capital Markets was selected from a pool of four applicants. The decision was approved by the school board Tuesday.
PUSD chief of staff Steve Brinkman said it is common practice for a school district to retain the services of an investment bank prior to an election, particularly to serve in an advisory role.
The school board voted in July to place a $350 million bond measure on the Nov. 4 ballot to pay for facilities upgrades and improvements. If the bond measure passes, the district would pay RBC Capital Markets $1,137,500, or $3.21 per bond.
A preliminary list of projects that would be funded by the new bond measure, Measure TT, includes technology upgrades, renovating and building new classrooms, and constructing new science labs, cafeterias and auditoriums
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