SMC Bond Refinance Saves Taxpayers $26.8 Million - Santa Monica Daily Press
SMC Bond Refinance Saves Taxpayers $26.8 Million Jan. 23, 2021 at 5:00 am Savings to be Passed on to District Property Owners through Lower Tax Bills This past December 2020, the Santa Monica Community College District successfully refinanced a portion of its general obligation bonds, saving the community more than $26.8 million in interest costs that will be passed on to district property owners through lower tax bills. The District availed itself of the favorable interest rate environment and issued new bonds at a rate of 2.4% to refinance previously issued bonds, which carried interest rat...
Source: smdp.com