College of the Sequoias saves taxpayers more than $12 million

Taxpayers in Visalia, Farmersville, Exeter, Woodlake and surrounding communities will save $5,445,412 from refinancing $18,271,140 from portions of the Measure I general obligation bond, approved by voters in 2008. The interest rates on the refinanced bonds, Series A and Series C, were reduced from 5.39 percent to 2.84 percent and 5.84 percent to 3.42 percent, respectively. Taxpayers in Tulare, Lindsay, Corcoran and surrounding communities will save $3,334,246 from refinancing $14,205,000 of Measure J general obligation bonds, approved by voters in 2008. The interest rate on the new bonds was reduced from 5.40 percent to 2.86 percent. Hanford taxpayers will save $3,491,207 from refinancing $13,540,000 of Measure C general obligation bonds, approved by voters in 2006. The interest rate on the new bonds was reduced from 5 percent to 2.78 percent.

Read full article [here].
by Calley Cederlof, The Visalia Times-Delta.

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