TUSD announces $3.85M bond savings
by TP staff
Apr 17, 2014 | 3178 views | 0 0 comments | 10 10 recommendations | email to a friend | print
Tracy Unified School District officials announced in a news release Thursday that their financing of Measure E bonds had saved taxpayers $3.85 million.

According to the release, the district took advantage of low interest rates in the municipal bond market.

The refinancing of the district’s outstanding bonds is similar to refinancing a home to a lower-interest-rate mortgage, according to district spokesman Joel Danoy. The new bonds have lower interest rates than the older bonds, which reduces the district’s annual payments.

Voters approved the $51 million school bond in June 2006 to fund improvements at Tracy and West high schools. With state matching funds of $43.4 million, the district was able to complete $94.4 million in projects at the two high schools.

In June, the district will seek voter approval for Measure B, an $82 million bond to complete districtwide school renovation projects.

• Contact the Tracy Press at tpnews@tracypress.com or 835-3030.
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