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Hermosa Beach City School District adopts bond-refunding resolution, estimates $1.3 million in taxpayer savings
Summary
The board unanimously adopted a resolution authorizing general obligation refunding bonds after a presentation by the district's financial advisor, who estimated a 7% present-value savings and about $1.3 million in gross taxpayer savings if the district proceeds.
The Hermosa Beach City School District board on Feb. 4 adopted a resolution authorizing the issuance of general obligation refunding bonds, after hearing a presentation from the district's financial adviser, John Isom of Isom Advisors.
Isom told the board the bonds issued in 2016 have reached a 10-year call date that allows refunding. "Financially efficiency, we're at 7%," he said, calling that level "more than double the minimum standard" typically used by the Government Finance Officers Association. On a gross basis, Isom said, "we're looking at about $1,300,000 in taxpayer savings." The presentation…
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