ATASCADERO — The Atascadero Unified School District saved taxpayers more than $6 million by taking action to refund the redeemable portion of their 2010 Election, Series A Bonds.
The refinancing will deliver savings to taxpayers of $6,132,655. The savings result from the District refinancing the callable maturities of the 2010 Election, Series A Bonds. The par amount of the bonds is $21,935,000, with serial maturities from 2021 to 2041, matching the original bond schedule.
“The District’s Board of Trustees takes our job very seriously of providing the best education for our students while at the same time protecting the taxpayers. Our recent action to reduce borrowing costs and passing these savings on to taxpayers helps us accomplish both,” said Donn Clickard, AUSD Board president.
The Atascadero School District worked with financial adviser Dale Scott and Company of San Francisco to provide advice, counsel and execution of the bond refinancing.
“We are always thinking forward to help the school districts who engage us to find ways to deliver world-class education at the lowest possible cost to their taxpayers,” said Dale Scott, President of DS&C. “Saving taxpayers money while not diminishing funding available for education is a win-win,” Scott said.