Transaction Details

Stockton Community Unit School District No. 206

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Baird served as sole manager for the District’s $4,095,000 Debt Certificates, Series 2021. Proceeds were used to build an addition to the District’s high school building in order to accommodate grades 6 through 8 in a combined middle and high school building, as well as replace the HVAC system and roof at the high school building. The addition includes seven classrooms, a small conference room, bathrooms, a band room and a choir room.

Utilized a portion of the District’s annual Sales Tax Revenue to prevent any tax increases associated with the borrowing. Baird took down $325,000 of unsold maturities (7.9% of total par) into inventory to lock in aggressive market pricing for the District.

Baird implemented a marketing strategy that resulted in over $4.4 million in orders over the remaining maturities. With stronger demand on the short end of the curve, we lowered yields by five basis points (0.05%) in 2022.

The Bonds achieved an all-in true interest cost of 2.41% on a 20-year bank-qualified transaction.