School Distrcit Refinances Bond

The Santa Barbara Unified School District refinanced a portion of a general obligation bond passed in 2000 reducing the gross debt service to taxpayers by about $2.39 million. Though it’s unclear what savings that represents for individual taxpayers ​— ​since it’s based on a property’s assessed value ​— ​with 22,831 parcels in the district in 2013-2014, the savings average out to about $160,000 over the next 15 years, said school boardmember Ed Heron.

Editor's note: A typo in this story has been corrected since its original posting.

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