Schools
Healdsburg Unified Saves Taxpayers Over $1 Million
"To save $1.2 million is a huge win for the District and its taxpayers," said Board President Vince Dougherty.
From Healdsburg Unified School District: Healdsburg Unified School District refinanced a portion of its Election of 2012, General Obligation Bonds, Series A, which will save District property owners nearly $1.2 million in taxes. Interest rates are currently at historically low levels, allowing the District to replace the higher interest rates from the Series A sale with today's lower rates.
The original 2012 Bonds were authorized by more than 55% of Healdsburg Unified School District voters in the June 5, 2012 election, and have been used to finance much needed repairs and transformational changes to the Healdsburg High School and Healdsburg Junior High campuses.
Previously, interest rates on the Series A Bonds ranged from 3.97% to 5.12%. The interest rate for the new bonds will range from 1.63% to 2.60%, saving the Healdsburg property taxpayers a total of $1,173,800 over the life of the borrowing. The term of the bonds remains the same with final payment in August 2032.
"We constantly strive to be good stewards of the community's resources," stated Superintendent Chris Vanden Heuvel "when we identified this opportunity to refinance the District's debt obligations and save taxpayers money; it was something we could not pass on. Our Board quickly and unanimously approved the sale and we went to market immediately."
The refinancing of the Series A Bonds was authorized by the Healdsburg Unified School District Board on November 15, 2017. "Anytime we can save taxpayers money we should do it. We are absolutely thrilled with this fantastic result for our community. To save $1.2 million is a huge win for the District and its taxpayers," said Board President Vince Dougherty.
Image via Healdsburg Unified School District