Measure D at a Glance

• Total authorization: $44,000,000, approved by voters on June 2, 2026
• Funds issued to date: $9,999,474 in Bond Anticipation Notes
• Remaining authorization: $44,000,000. The notes will be repaid from the first series of Measure D bonds, so they do not reduce the authorization.

2026 Bond Anticipation Notes

On September 15, 2026, the District issued $9,999,474 in short-term Bond Anticipation Notes to fund the first round of Measure D projects. The notes mature September 1, 2030, and will be repaid from the first series of Measure D general obligation bonds. S&P Global Ratings rated the notes AA+.

The full $9,999,474 was deposited in the District's Building Fund, held by the Marin County Treasurer. Costs of issuance were paid from the premium on the notes, not from project funds. Bond dollars are kept separate from the General Fund, which pays for classroom operations.

Expenditure Reports

As Measure D projects begin, reports of bond expenditures will be posted here. The Citizens' Bond Oversight Committee reviews these reports to confirm that bond funds are spent only on voter-approved projects.

Independent Audits

Measure D funds are subject to an annual independent financial audit and performance audit, as required by Proposition 39. Audit reports will be posted here, beginning with fiscal year 2026-27, and are provided to the Citizens' Bond Oversight Committee.