CVUSD REFINANCES BONDS SAVES TAXPAYERS OVER $2.5 MILLION
The Cajon Valley Union School District has successfully refinanced the remaining portion of their 2010 General Obligation Refunding bonds issued in 2010, saving taxpayers in the San Diego County school district just over $2.5 million.
“Protecting our taxpayers is the top priority of the District’s Board of Trustees. We were able to reduce borrowing costs and pass the savings on to the taxpayers. At the same time, we can maintain our focus on providing the best educational experience for our students,” said Superintendent David Miyashiro.
The refinancing will deliver a savings to taxpayers of $2,577,907. This represents a substantial net present value savings to El Cajon taxpayers of 14.9 percent. The savings is a result of the District refinancing the remaining maturities of the 2010 Refunding Bonds, which refunded the 2000 Election, Series A & B Bonds, originally issued in 2001 and 2002.
Over the past ten years, the District has saved local taxpayers nearly $12 million in reduced taxes by refinancing its bonds into lower interest rates.
The Cajon Valley Union School District worked with financial advisor Dale Scott & Co. of San Francisco to provide advice, counsel and execution of the bond refinancing.
“We are always thinking forward to help the school districts who engage us to find ways to deliver world class education at the lowest possible cost to their taxpayers,” said Dale Scott, President of DS&C.
Since 1987, DS&C is a proven and innovative financial advisor that provides financial strategies yielding long-term solutions for clients at the lowest costs to taxpayers. While some firms go out of their way to highlight how many financings they’ve completed, after 30+ years in business, DS&C realizes the most important statistics are the usefulness of their ideas and the satisfaction of their clients and their communities.
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