Altadena Library District:

Press release from the Altadena Library District:

February 7th, 2022

Thanks to the incredible support of local residents, organizations and businesses, the Altadena Library District is embarking on an ambitious multi-year project to repair, modernize, and improve both the Main and the Bob Lucas Memorial Library beginning in the spring of 2022.

The passage of Measure Z in November of 2020 authorized the Altadena Library District Community Facilities District (CFD) to issue bonds, and after careful planning and cost estimation for both building projects, these 2022 CFD Bonds are scheduled to be sold February 17, 2022 on the open market. Altadena residents will have priority to purchase the proposed bonds. For financial information about this bond issuance, click to download the Altadena Library District Preliminary Official Statement.

How Altadenans Can Purchase Bonds
If you are interested in purchasing bonds and further supporting the Altadena Libraries, please contact:

Rose Thompson
Hilltop Securities Inc.
(214) 859-9466

You will need to contact Hilltop Securities on or before February 16, 2022. You will be connected with a local Hilltop Securities retail broker to set up an account (this should take about 15 minutes) but are under no obligation to purchase bonds. 

Additionally, as we kick off this project in the coming weeks, we will be out and about in the community listening to what you want in your libraries. We look forward to hearing from you.

Measure Z & Community Facilities District Background
In August 2020, the Board of Trustees adopted resolutions establishing the Altadena Library District Community Facility District and calling a special election to submit the levy of special taxes and incurring bonded indebtedness to finance the capital improvements to qualified voters residing within the District.

On November 3, 2020, the registered voters of the District, by more than a two-thirds vote, authorized the district to incur bonded indebtedness in the aggregate principal amount not to exceed $24,000,000 to be secured by the levy of special taxes on taxable property within the District. (www.altadenalibrary.org/MeasureZ).

The CFD Committee, formed by the Board of Trustees in December 2020, provides critical guidance over the implementation, from developing the bond issuance team and debt structure, managing the bond proceeds to providing oversight of the capital improvement projects and supporting the solicitation of community feedback throughout the process.

This press release was produced by the Altadena Library District. The views expressed here are the author’s own.