School District Refinances Bonds
The Simi Valley school district has refinanced nearly $35 million in general obligation bonds for schools, a move that will save the taxpayers $1.4 million over the life of the issues, school officials said.
The bonds, approved by voters in 1989, were being financed at a higher interest rate than what is now available, said Mary Beth Wolford, superintendent of the Simi Valley Unified School District.
“We had to go to our citizens and ask for money,” Wolford said. “Our schools look as nice as they do because we’ve had a lot of support from our citizens. So if we can save the taxpayers money, we want to do that.”
Wolford said the reissue does not result in any savings directly to the district. Nor did she say how much the individual savings would total.
“But you will see the difference on your next tax bill,” she said.
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