FOR IMMEDIATE RELEASE
Date: June 21, 2024
Contacts: Stefan Jaskulak, 650-691-1200, sjaskulak@openspace.org
Los Altos, CA—The Midpeninsula Regional Open Space District will offer approximately $37 million in “green bonds” for sale to the public on June 25, 2024. Proceeds will fund voter-approved projects that preserve, restore and provide access to the more than 70,000 acres of natural open space lands that Midpen manages on behalf of the public. The sale of these bonds was approved by local voters who passed Measure AA in 2014.
“These bonds give the public an opportunity to make an investment in their community,” said Midpen General Manager Ana Ruiz. “Proceeds will help further Midpen’s mission to care for and protect public open space.”
Midpen is a California Special District, supported primarily by local property taxes. The sale of these voter-approved bonds allows Midpen to borrow funds for public open space projects and repay them with interest over the life of the bond using property taxes.
"Green Bonds," relatively new in the municipal market, are bonds that support environmentally-beneficial purposes including open space preservation, renewable energy, clean air and water, LEED certified facilities, mass transit and other green initiatives. Midpen’s bonds carry AAA ratings from both Standard and Poor’s (S&P) and Fitch Ratings, which is the highest credit rating available.
For more information about the green bonds' sale, please visit openspace.org/green-bonds
This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities. The offering is made only by the Preliminary Official Statement. The information set forth in this announcement was obtained from sources we believe to be reliable, but we do not guarantee its accuracy. All such information is subject to the information in the final Official Statement.