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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 rates between 4% and 5%. There was no prepayment penalty or extension of the repayment period on the bonds.
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they see the prospect for lower taxes, less regulation and a very intense focus on boosting growth. if you look at the people who he is appointing in very key positions in terms generating that economic activity, the mark se market seems to like those decisions as well. lower tax, rless regulation, they like those. the dow jones again, record high, 19,600-plus, dow jones up, what, another 80 points today, 19,629 right now. we ll continue to watch the market. cristina, thank you. there are early signs that donald trump s controversial choice for epa administrator, the environmental protection agency, may hit a roadblock in senate confirmation hearings. we ll discuss that and more when we come back. david. what s going on? oh hey! that s it? yeah.
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