Edina High School is a four-year public high school located in Edina, Minnesota , United States, a suburb of Minneapolis . The current student population is 2,720.
61-814: Edina High School was ranked as 428th best public high school in the United States according to U.S. News & World Report . Minnesota Department of Education certified Edina as a "Five Star School" and the U. S. Department of Education recognized it as a "National School of Excellence". Newsweek ranked the school #89 in their "List of the 1,200 Top High Schools in America", and the Grammy Foundation selected it as one of forty-two "Signature Schools" recognizing Edina's contributions to music education. Ninety-five percent of seniors go on to college and eighty-six percent finish in five years. 30% of Edina graduates responded in
122-477: A "when issued" market, and also immediately after they are issued. Once the bonds find their way into retail and mutual fund portfolios, the volume of trade drops off dramatically. The MSRB reports that from March 1998 to May 1999, 71% of the outstanding issues did not trade at all. A 2005 study concluded that 4–6 months after issuance, less than 10% of the sampled bonds traded at all; the probability then rises somewhat so that by four years from issuance, roughly 15% of
183-445: A $ 9.255 million bond issue was approved by voters to construct a new high school attached to Valley View Junior High School . Construction of the new high school began on May 24, 1971 and the school was opened in the fall of 1972. The Edina East High School retained the "Hornets" and Edina West High School became the "Cougars". In 1981 Edina East was closed and Edina West was renamed Edina High School. The newly unified school decided on
244-630: A Department of Education. It was seen as a way to collect information and statistics about the nation's schools and provide advice to schools in the same way the Department of Agriculture helped farmers. The department was originally proposed by Henry Barnard and leaders of the National Teachers Association (renamed the National Education Association ). Barnard served as the first commissioner of education but resigned when
305-446: A discount. While minimum denominations contribute to illiquidity, another such reason is the total amount of municipal bonds outstanding. There are over 1,500,000 individual municipal CUSIPs representing over 50,000 issuers. To put this into context, there are ~4300 US domestically incorporated exchange-listed stocks and 10,500 stocks that trade over-the-counter . Over the last decade, technology solutions have been applied to make
366-517: A few other federal entities. Among the federal education-related programs that were not proposed to be transferred were Headstart, the Department of Agriculture's school lunch and nutrition programs, the Department of the Interior's Native Americans' education programs, and the Department of Labor's education and training programs. Upgrading Education to cabinet-level status in 1979 was opposed by many in
427-530: A member of the Lake Conference and the Classic Lake Conference, the school joined the new Lake Conference in 2010. Edina claims 207 athletic high school state championships, a state record, with most of them earned in tennis , swimming & diving , and boys hockey . In 2000, the school was recognized as the first school in the state of Minnesota to win more than 100 state championships. In 2019,
488-413: A municipal bond is calculated as follows. Where r m = interest rate of municipal bond, r c = interest rate of comparable corporate bond and t = investor's tax bracket (also known as marginal tax rate): For example, assume an investor in the 38% tax bracket is offered a municipal bond that has a tax-exempt yield of 1.0%. Using the formula above, the municipal bond's taxable equivalent yield
549-443: A municipal bond sale to be spent on capital projects within three to five years of issuance. In the United States, although not all municipal bonds are tax-exempt, most are. Tax-exempt securities represented about 80% of trading volume in U.S. municipal bonds in 2020. Interest income from most municipal bonds is excludable from gross income for federal income tax purposes, and may be exempt from state income tax as well, depending on
610-458: A proposal are issued in series over a period of time, in order to allow contractors a steady stream of work and the jurisdiction to not be overwhelmed in managing too many projects at once. Before a particular municipal bond is offered to the public, the issuer must publish an "official statement" disclosing material information about the offering. Key players in the issuance process include: Tax regulations generally require all money raised by
671-434: A recent survey that they conducted 10 years after graduation they had completed graduate school degrees or were pursuing graduate degrees. A second high school, Edina West High School , opened in fall 1972, next to Valley View Junior High School, and Edina High School was renamed Edina East High School . Due to declining student enrollment, the two schools combined eight years later. Edina East closed in spring 1981, and
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#1732877033987732-399: Is 1.6% (0.01/(1-0.38) = 0.016) - a figure which can be fairly compared to yields on taxable investments such as corporate or U.S. Treasury bonds for decision making purposes. Typically, investors in the highest tax brackets benefit from buying tax-exempt municipal bonds instead of taxable corporate bonds, but those in the lowest tax brackets may be better off buying corporate bonds and paying
793-626: Is a member of the United States Interagency Council on Homelessness and works with federal partners to ensure proper education for homeless and runaway youth in the United States. For 2006, the ED discretionary budget was $ 56 billion and the mandatory budget contained $ 23 billion. In 2009 it received additional ARRA funding of $ 102 billion. As of 2011, the discretionary budget is $ 70 billion. The department's origin goes back to 1867, when President Andrew Johnson signed legislation for
854-501: Is among the risks evaluated by a rating agency , which assigns a credit rating to the bond. Credit ratings are generally the starting point buyers use when deciding how much to pay for a municipal bond. Historical default rates have been lower in the municipal sector than in the corporate market. This may be due in part to the fact that some municipals are backed by state and local government power to tax, or revenue from public utilities. However, sharp drops in property valuations (as in
915-547: The 2009 mortgage crisis ) can strain state and local finances, potentially creating municipal defaults. Harrisburg, PA, when faced with falling revenues, skipped several bond payments on a municipal waste to energy incinerator. The prospect of municipal bankruptcy was raised by the Controller of Harrisburg, although it was opposed by Harrisburg's mayor. Default risk to the investor can be greatly reduced through municipal bond insurance, which promises to pay interest and principal if
976-643: The Department of Education Organization Act , which President Jimmy Carter signed into law on October 17, 1979. The Department of Education is administered by the United States secretary of education . It has 4,400 employees – the smallest staff of the Cabinet agencies – and a 2024 budget of $ 238 billion. The 2023 Budget was $ 274 billion, which included funding for children with disabilities ( IDEA ), pandemic recovery, early childhood education, Pell Grants , Title I , work assistance, among other programs. This budget
1037-795: The Every Student Succeeds Act , which reauthorized the Elementary Secondary Education Act. "In December 2015, the Every Student Succeeds Act (ESSA) was signed into law, reauthorizing the Elementary and Secondary Education Act (ESEA) and replacing the No Child Left Behind Act (NCLB). ESEA, the federal law that authorizes federal funding for K-12 schools, represents the nation's commitment to equal educational opportunity for all students and has influenced
1098-543: The Local Government Funding Agency (LGFA), is the second-biggest issuer of New Zealand-dollar debt behind the government. Local governments in China were not permitted to issue bonds in the open market until 2015, and historically these governments relied on local government financing vehicles as a major source of debt finance. By the end of 2022 a total of CN¥35.1 trillion of bonds were outstanding. In India,
1159-525: The Republican Liberty Caucus passed a resolution to abolish the Department of Education. Abolition of the organization was not pursued under the George W. Bush administration, which made reform of federal education a key priority of the president's first term. In 2008 and 2012, presidential candidate Ron Paul campaigned in part on an opposition to the department. Under President George W. Bush ,
1220-668: The Republican Party , who saw the department as unconstitutional , arguing that the Constitution does not mention education , and deemed it an unnecessary and illegal federal bureaucratic intrusion into local affairs. However, many see the department as constitutional under the Commerce Clause , and that the funding role of the department is constitutional under the Taxing and Spending Clause . The National Education Association supported
1281-727: The United States Department of Health and Human Services (DHHS)). An unsuccessful attempt at creating a Department of Education, headed by a secretary of education , came with the Smith–Towner Bill in 1920. In 1939, the organization (then a bureau) was transferred to the Federal Security Agency , where it was renamed as the Office of Education. After World War II , President Dwight D. Eisenhower promulgated "Reorganization Plan No. 1 of 1953." The Federal Security Agency
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#17328770339871342-649: The "Hornets" nickname. Part of the old high school building was converted to the Edina kindergarten center in 1987 and the Edina Senior Center. As of 2015, the building is used as a community center, housing the Normandale French Immersion K-5 elementary school, the school district's main offices and the school district's Welcome Center. In November 2003, city of Edina residents passed an $ 85.8 million bond referendum to renovate all school facilities in
1403-479: The 1940s some Edina students in grades 10 through 12 attended private high schools . Of those who could not afford to attend a private high school, some were enrolled at St. Louis Park High School while many others were being "farmed out" to West and Southwest High Schools in Minneapolis. In 1941, Minneapolis schools raised their tuition for out-of-city students, and despite the increase, Edina residents voted to pay
1464-1040: The Congress could tax interest income on municipal bonds if it so desired on the basis that tax exemption of municipal bonds is not protected by the Constitution. In this case, the Supreme Court stated that the contrary decision of the Court in Pollock had been "effectively overruled by subsequent case law". The Revenue Act of 1913 first codified exemption of interest on municipal bonds from federal income tax. The Tax Reform Act of 1986 greatly reduced private activities that may be financed with tax-exempt bond proceeds. The United Kingdom 's UK Municipal Bonds Agency (UK MBA) provides services for borrowing by municipalities. Canada has CIBC . Municipal bonds agencies also known as Bond banks or Local government funding agencies exist in other countries, such as Sweden and Finland. In New Zealand,
1525-686: The Department of Education." By 1984 the GOP had dropped the call for elimination from its platform, and with the election of President George H. W. Bush in 1988, the Republican position evolved in almost lockstep with that of the Democrats, with Goals 2000 a virtual joint effort. After the Newt Gingrich -led "revolution" in 1994 had taken control of both Houses of Congress, federal control of and spending on education soared. That trend continued unabated despite
1586-401: The Department of the Interior's Bureau of Indian Education supports tribally controlled schools. The quality of higher education institutions and their degrees are maintained through an informal private process known as accreditation , over which the Department of Education has no direct public jurisdictional control. The department identifies four key functions: The Department of Education
1647-635: The District of Columbia and U.S. territories and possessions (American Samoa, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the U.S. Virgin Islands) can and do issue municipal bonds. Another important category of municipal bond issuers which includes authorities and special districts has also grown in number and variety in recent years. The two most prominent early authorities were
1708-590: The Port of New York Authority, formed in 1921 and renamed Port Authority of New York and New Jersey in 1972, and the Triborough Bridge Authority (now the Triborough Bridge and Tunnel Authority), formed in 1933. The debt issues of these two authorities are exempt from federal, state and local governments taxes. The basic types of municipal bonds are: Depending on the jurisdiction and the basis for issuing
1769-403: The U.S. Department of Education, severe curtailment of bilingual education, and massive cutbacks in the federal role in education. Once in office , President Reagan significantly reduced its budget , but in 1989, perhaps to reduce conflict with Congress , he decided to change his mind and ask for an increase from $ 18.4 billion to $ 20.3 billion. The Republican Party platform of 1980 called for
1830-449: The alternative minimum tax as an item of tax preference. Municipal bonds' coupon rates are generally lower than those of comparable corporate bonds, but higher than those of their FDIC-insured counterparts: CDs, savings accounts, money market accounts, and others. Historically, municipal bonds have been one of the least liquid assets on the market. One indicator of this is their infrequent trading. Municipal bonds are actively traded in
1891-511: The applicable state laws. Internal Revenue Code section 103(a) is the statutory provision that excludes interest on municipal bonds from federal income tax. As of 2004 , other rules, however, such as those pertaining to private activity bonds, are found in sections 141–150, 1394, 1400, 7871. The state and local exemption was the subject of litigation in Department of Revenue of Kentucky v. Davis . Bonds issued for certain purposes are subject to
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1952-464: The bill, while the American Federation of Teachers opposed it. As of 1979, the Office of Education had 3,000 employees and an annual budget of $ 12 billion. Congress appropriated to the Department of Education an annual budget of $ 14 billion and 17,000 employees when establishing the Department of Education. During the 1980 presidential campaign, Gov. Reagan called for the total elimination of
2013-444: The bond, voter approval may be required, especially if a property tax levy is involved. Some bonds, for minor projects or emergency situations, may be issued without voter pre-approval. But in all cases, public input (whether a vote, or the opportunity to speak for or against issuance at a public hearing) is required. Voter approval of the bond proposal does not automatically result in the bonds being issued. Frequently, bonds under
2074-511: The bonds in the sample traded at least once during a given month. A 2007 study concluded that the average investment grade tax exempt 1-10 year municipal bond traded 21 times over its 11-year sample and 5.65% of issues only traded once. Unlike corporate and Treasury bonds, which are more likely to be held by institutional investors, municipal bond owners are more diverse, and hence harder to locate, giving this market less liquidity. Compared to stocks, municipal bonds are much harder to maneuver. At
2135-538: The building eventually became the Edina Community Center, the district administrative offices and Welcome Center, and the home of Normandale Elementary school, while Edina West became Edina High School. Before a high school opened in Edina, students looking to extend their education past eighth grade had to find their way down to the old Central High School at 4th Avenue and South 11th Street in Minneapolis . By
2196-520: The corporate and foreign markets. But conversely, the number of municipal bond issuers (state and local governments and other affiliated entities) far exceeds the number of corporate bond issuers. Local authorities in many other countries in the world issue similar bonds, sometimes called local authority bonds or other names. Municipal debt predates corporate debt by several centuries—the early Renaissance Italian city-states borrowed money from major banking families. Borrowing by American cities dates to
2257-683: The department primarily focused on elementary and secondary education, expanding its reach through the No Child Left Behind Act . The department's budget increased by $ 14 billion between 2002 and 2004, from $ 46 billion to $ 60 billion. On March 23, 2007, President George W. Bush signed into law H.R. 584 , which designates the ED Headquarters building as the Lyndon Baines Johnson Department of Education Building . In December 2015, President Barack Obama instituted
2318-657: The district, with the high school undergoing major renovations. Construction began on the high school in May 2004 and was completed in 2007. Edina High School completed its $ 60 million renovations in September 2017. As a result, Edina High School now contains space to host grades 9-12 instead of grades 10-12. Edina High School is a member of the Lake Conference of the Minnesota State High School League . Previously
2379-413: The education of millions of children." Municipal bond A municipal bond , commonly known as a muni , is a bond issued by state or local governments, or entities they create such as authorities and special districts. In the United States, interest income received by holders of municipal bonds is often, but not always, exempt from federal and state income taxation. Typically, only investors in
2440-456: The elimination of the Department of Education created under Carter, and President Ronald Reagan promised during the 1980 presidential election to eliminate it as a cabinet post, but he was not able to do so with a Democratic House of Representatives . In the 1982 State of the Union Address, he pledged: "The budget plan I submit to you on Feb. 8 will realize major savings by dismantling
2501-580: The fact that the Republican Party made abolition of the department a cornerstone of 1996 platform and campaign promises, calling it an inappropriate federal intrusion into local, state, and family affairs. The GOP platform read: "The Federal government has no constitutional authority to be involved in school curricula or to control jobs in the market place. This is why we will abolish the Department of Education, end federal meddling in our schools, and promote family choice at all levels of learning." In 2000,
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2562-405: The highest tax brackets benefit from buying tax-exempt municipal bonds instead of taxable bonds. Taxable equivalent yield calculations are required to make fair comparisons between the two categories. The U.S. municipal debt market is relatively small compared to the corporate market: total municipal debt outstanding was $ 4 trillion as of the first quarter of 2021, compared to nearly $ 15 trillion in
2623-480: The increased tuition rather than build their own high school. During the mid-1940s, support for an Edina-Morningside junior and senior high school was increasing. However, World War II and the resulting shortage of building materials delayed construction of the Edina-Morningside Junior and Edina-Morningside Senior High School. But after the war, support for the new school began to resurface. Two sites for
2684-410: The issuance of local debt. Several states wrote these restrictions into their constitutions. Railroad bonds and their legality were widely challenged, and this gave rise to the market-wide demand that an opinion of qualified bond counsel accompany each new issue. When the U.S. economy began to move forward once again, municipal debt continued its momentum, which was maintained well into the early part of
2745-478: The issuer does not do so. Projecting the yield to maturity on municipal bonds usually involves incorporating tax brackets. Comparing the yield on a municipal bond to that of a corporate or U.S. Treasury bond can be misleading, because of differing tax treatment of the income from the two types of securities. For that reason, investors use the concept of taxable equivalent yield to compare municipal and corporate or Treasury bonds. The taxable equivalent yield on
2806-450: The market more responsive to investors, more financially transparent and ultimately easier for issuers and buyers. The emergence of small denomination municipal bonds makes the muni market more accessible to middle-income buyers. It is believed that these initiatives will reduce lower debt issuance costs. Default risk is a measure of the possibility that the issuer will fail to make all interest and principal payments, on time and in full. It
2867-488: The new school had the most support. One was on the property that is currently occupied by the Edina Country Club near 50th Street and Wooddale Avenue and the other was at West 56th Street and Normandale Road. Although the 50th and Wooddale site was the center of the village's population at the time, the 56th and Normandale site was nearer to the school district's geographic center and was the eventual site chosen to build
2928-486: The new school. The first high school to open in Edina, later known as Edina East, is now the site of the Edina Community Center and Normandale Elementary School. It was built as a combination high school/junior high. A $ 1.25 million school bond issue was passed in 1946 by the residents of Edina and ground was broken in October 1947. A year later the school was dedicated. It was not until the fall of 1949 that classes began and it
2989-507: The nineteenth century, and records of U.S. municipal bonds indicate use around the early 1800s. Officially the first recorded municipal bond was a general obligation bond issued by the City of New York for a canal in 1812. During the 1840s, many U.S. cities were in debt, and by 1843 cities had roughly $ 25 million in outstanding debt. In the ensuing decades, rapid urban development demonstrated a correspondingly explosive growth in municipal debt. The debt
3050-512: The office was reconfigured as a bureau in the Department of Interior known as the United States Office of Education due to concerns it would have too much control over local schools. Over the years, the office remained relatively small, operating under different titles and housed in various agencies, including the United States Department of the Interior and the former United States Department of Health Education and Welfare (DHEW) (now
3111-481: The record was broken for most state championships won in a school year as Edina claimed 8 titles. The boys' hockey team has won a state-record fourteen championships (including three titles by Edina East), eight under Willard Ikola alone. Edina held the record for most consecutive state championships in girls tennis with fifteen from 1978 to 1992. In 2012, Edina broke their own record by winning nineteen straight state championships from 1997 to 2015. In June 2023, Edina
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#17328770339873172-450: The same time, the largest bank of the country of the time, which was owned by the same investor as that of Northern Pacific, collapsed. Smaller firms followed suit as well as the stock market. The 1873 panic and years of depression that followed put an abrupt but temporary halt to the rapid growth of municipal debt. Responding to widespread defaults that jolted the municipal bond market of the day, new state statutes were passed that restricted
3233-411: The same time, the minimum investment amounts for stocks are typically <$ 500 and about $ 1000 for CDs and money markets; in comparison, municipal bonds typically have minimum denomination buy-ins of $ 5000 but smaller issuers may have buy-ins of $ 1000 to incentivize local or regional investors. An investor's overall principal cost may be lower than the $ 5000 minimum denomination by purchasing the bonds at
3294-512: The taxes. Investors in higher tax brackets may arbitrage municipal bonds against corporate bonds using a strategy called municipal bond arbitrage . The U.S. Supreme Court held in Pollock v. Farmers' Loan & Trust Co. (1895) that the federal government had no power under the U.S. Constitution to tax interest on municipal bonds, but in South Carolina v. Baker (1988), the Supreme Court held
3355-439: The twentieth century. The Great Depression of the 1930s halted growth, although defaults were not as severe as in the 1870s. Leading up to World War II, many American resources were devoted to the military, and prewar municipal debt burst into a new period of rapid growth for an ever-increasing variety of uses. Today, in addition to the 50 states and their local governments (including cities, counties, villages and school districts),
3416-489: Was abolished and most of its functions were transferred to the newly formed DHEW. In 1979, President Carter advocated for creating a cabinet-level Department of Education. Carter's plan was to transfer most of the Department of Health, Education, and Welfare's education-related functions to the Department of Education. Carter also planned to transfer the education-related functions of the departments of Defense, Justice, Housing and Urban Development, and Agriculture, as well as
3477-426: Was also 51% Male, 48.9% Female, and 0.2% Transgender. United States Department of Education The United States Department of Education is a cabinet -level department of the United States government . It began operating on May 4, 1980, having been created after the Department of Health, Education, and Welfare was split into the Department of Education and the Department of Health and Human Services by
3538-473: Was at that time that the student body chose the school colors (green and white) and the school mascot, the Hornet. The school had 28 classrooms , 11 special rooms and laboratories , a library and a special radio room. In 1952, one year after the first class graduated, a gymnasium and auditorium were added to the building. In the 1960s, the high school was becoming overcrowded. As a result, on October 20, 1970,
3599-617: Was down from $ 637.7 billion in 2022. Its official abbreviation is ED ("DOE" refers to the United States Department of Energy ) but is also abbreviated informally as "DoEd". Unlike the systems of many other countries, education in the United States is organized at a subnational level by each of the fifty states. Under the 10th Amendment , the federal government and Department of Education are not involved in determining curricula or educational standards or establishing schools or colleges. The Department of Defense Education Activity (DoDEA) oversees schools located on American military bases and
3660-499: Was the first school in Minnesota to achieve 200 state championships. In 2005, Sports Illustrated ranked Edina as the 8th best sports program in the United States. Key: E = Edina East, W = Edina West, * = Not included in MSHSL count The class of 2014 was 82% White, 6% American Asian/Pacific Islander, 5% Black/African-American, 4% Hispanic/Latino, 2% Other, and 1% Native American. The class
3721-551: Was used to finance both urban improvements and a growing system of public education. Years after the American Civil War, significant local debt was issued to build railroads. Railroads were private corporations, and these bonds were very similar to today's industrial revenue bonds . Construction costs in 1873 for one of the largest transcontinental railroads, the Northern Pacific , closed down access to new capital. Around
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