By refinancing its bonds, Calistoga’s school district saved property owners more than $2.4 million in taxes, officials announced last month.
The Calistoga Joint Unified School District (CJUSD) refinanced $5.9 million of its 2011 issuance of Measure A general obligation bonds, taking advantage of historically low interest rates, the result of which will save taxpayers more than $2.4 million, said CJUSD Superintendent Erin Smith-Hagberg.
Refinancing of the bonds was approved by the district’s Board of Trustees at its regularly scheduled meeting on Dec. 4. Reduced property tax rates will appear on future tax bills for district property owners.
Passed by 65 percent of voters in 2010, Measure A authorized the sale of up to $42 million in bonds to fund improved school libraries, upgraded classrooms, modernized technology, a new gym and cafeteria, solar systems, and new and upgraded HVAC systems.