The Antelope Valley Times

Your community. Your issues. Your news.

  • Home
  • Latest News
  • Local
    • Palmdale
    • Lancaster
    • Los Angeles County
    • Littlerock
    • Lake Los Angeles
    • Rosamond
    • Edwards AFB
    • Acton
  • Crime
  • Politics
  • Education
  • Health
  • Business
  • Opinion
    • Advertise
    • About
    • Contact Us
    • Facebook
    • Twitter
    Show Search

Westside Union School District refinances bonds

by The AV Times Staff • May 23, 2019

PALMDALE – Westside Union School District has refunded outstanding general obligation bonds, which will save district property owners $1,601,318 in taxes, officials announced Thursday.

The refunding bonds, totaling $13,410,000, were originally authorized by more than 55% of voters at a November 2008 election and were used for the renovation, modernization and construction of various classrooms and school facilities throughout the District.

The interest rates on the outstanding bonds from the 2008 authorization ranged from 3.02% to 6.72%. The interest rates for the new bonds issued in May of this year will be much lower with a range from 1.89% to 3.07%, a difference that will save property owners well over a million and half dollars.

“As the individual responsible for District finances, I am fortunate to work for a board and superintendent that will make every effort to find opportunities to save taxpayers money,” said District Assistant Superintendent of Administrative Services Shawn Cabey.

Superintendent Gina Rossall added, “With interest rates extremely low, we felt it was the right time to take action and save our community money.”

The refinancing of the bonds was authorized by the District Board at their May 7, 2019 meeting.

“We know that our community supports our schools, and in turn we wanted to give back to our community by saving taxpayer dollars,” said Jennifer Navarro, Board of Trustees Vice President.

Property owners in the District will see a reduced tax rate on future tax bills.

[Information via news release from Westside Union School District.]

–

Filed Under: Education, Home, Palmdale

Recent Comments

  • Beecee on Dozens of missing kids recovered in joint L.A. County-based operation: “Accused rapist… Tara Reid ring a bell” Jan 26, 20:49
  • Matt on Dozens of missing kids recovered in joint L.A. County-based operation: “Better than the p@$$% grabber Trump. You are really going there Beecee with Trumps past history. I’ll take creepy over…” Jan 26, 20:20
  • david on L.A. County Supervisors hear options for removing sheriff: “The only thing thats unconstitutional here is this witch hunt leftist take over. And the sheriff isnt budging to the…” Jan 26, 20:17
  • Henry on Op-ed: Protect nurses and the community now: “The only tyranneous coward is the phoney who lives in Laguna and parades around as mayor of Lancaster.” Jan 26, 19:25
  • Beecee on Dozens of missing kids recovered in joint L.A. County-based operation: “Kevin Spacey… On and on” Jan 26, 18:47

© 2021 · The Antelope Valley Times. All rights reserved. Terms of Use