The district was able to reduce the interest rates on the prior bonds from 5.00% to 2.95%, reducing the community’s tax bill by over $4.115 million. This bond refinancing initiative first began March 2013 with Phase One refinancing which saved the community $31.755 million in tax payments. In total, the bond refinancing initiative has saved the Huntington Beach community over $35.870 million of bond interest savings.
Dr. Plutko shared, “We are so proud of the outstanding school facilities our schools provide their communities. Just like the initial use of bond dollars to build and refurbish our schools, the Trustees have continued their fiscal responsibility to the community with this comprehensive refinancing initiative.”
While the district will not receive any part of the savings, the Board and Superintendent pursued this opportunity strictly on behalf of local taxpayers as part of their continued support for the education of the children of the community.