Community Support at Work: $57M in School Upgrades & Proven Fiscal Leadership

 

 

We extend our sincere gratitude to the Union School District community for your generous support of local bond measures, which have directly funded over $57 million in capital projects completed or underway in 2026. At the start of the school year, we opened five new elementary playgrounds, new classrooms and a library/wellness center to name just a few of the impactful projects that took place this summer. These projects serve our schools and students today and lay a strong foundation for generations to come.    Learn more about current and future projects on our Bond Projects webpage.   This incredible local investment reflects a shared commitment to educational excellence, a standard of community trust and fiscal responsibility that continues to earn the highest marks on a national scale.

 

Union School District Earns 'AA+' Credit Rating from S&P Global Ratings Ahead of Successful Bond Sale

  

San Jose — August 13, 2026 — Union School District is proud to announce that S&P Global Ratings has assigned its 'AA+' long-term rating to the district’s recent general obligation (GO) bonds.    An 'AA+' rating places Union Elementary School District among the top tier of public school districts nationwide, reflecting exceptional creditworthiness and strong financial health. The 'AA+' rating positioned the district to secure favorable interest rates during its recent bond sale. According to S&P, the strong credit rating was the result of the District’s strong economical profile, financial flexibility, stable operations, and robust reserve position.   “We are incredibly proud that our ‘AA+’ credit rating maintained and affirmed our fiscal stewardship,” shared Superintendent Dr. Carrie Andrews. “This outcome reflects the strategic work of our Board and staff to manage our resources wisely, as well as the strong support our community continues to show for public education. It ensures we can fulfill our promise to voters to be as cost-effective as possible.”    After securing its rating, the district sold its bond to investors on July 30, 2026. The bond sale generated strong investor demand with 1.5 times the $37.625 million offered. The District received orders from 21 unique accounts, including top-tier names such as Blackrock, Eaton Vance, Fidelity, PIMCO, and Breckinridge Capital.  The total cost came in $3.2 million lower than the Board’s initial estimates from Spring 2026 resulting in substantial savings for taxpayers.    Proceeds from the bond sale will be utilized directly to finance vital ongoing improvements across the district. These projects include replacing aging portables with permanent, modern classrooms, updating school technology infrastructure, replacing aging roofs and heating air conditioning and ventilation equipment, and overall modernizing campuses to ensure school environments meet the evolving needs of students.