College of the Sequoias will host a day devoted to immigration issues on Sept. 23.
Written by David Castellon
The College of the Sequoias has refinanced a series of general obligation bonds that officials estimate will save the college and local taxpayers more than $12.2 million.
Dale Scott & Co., a San Francisco-based financial advising firm, helped the district refinance more than $46 million from the four series of bonds at nearly half their prior interest rates without having to extend the periods in which they have to be paid off, resulting in the savings, according to a COS press release.
Those bonds paid for the construction of COS’ Hanford and Visalia campuses, as well as upgrades to portions of the main campus in Visalia.
Officials say Hanford residents will save about $3.4 million from refinancing more than $13.5 million of general obligation bonds resulting from Measure C, which voters in that area approve in 2006.
Taxpayers in Visalia, Farmersville, Exeter, Woodlake and surrounding communities will save about $5.4 million from the refinancing of Measure I general obligation bonds, while residents in the areas of Tulare, Lindsay and Corcoran will save more than $3.3 million from the refinancing of Measure J general obligation bonds.
Voters approved both measures in 2008.
“We closely monitored the interest rate market and took action to maximize savings for our district residents,” Stan Carrizosa, COS superintendent and president, said in a written statement.
“It’s money back in the pockets of the taxpayers, and we’re really happy that this worked out in this manner,” Christine Statton, vice president of administrative services, also stated in the release.