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Glendora Unified to push bond feasibility survey and present to credit analysts to seek refinancing savings
Summary
District leaders said they will launch a bond feasibility survey the week of Nov. 10 aiming for 400 responses and will present to credit analysts to pursue a top credit rating that could enable refinancing and taxpayer savings; trustees were asked to participate in outreach.
District leaders told the Board of Education on Oct. 13 that they will begin outreach for a bond feasibility survey and pursue options to reduce borrowing costs through refinancing.
Dr. DeGrazia told trustees the district plans to begin a bond feasibility survey the week of Nov. 10 and will "reach out until we secure 400 surveys" to obtain an adequate sample for decision-making. He said the district and a colleague will present information to credit analysts nationwide "with the goal of securing our top funding credit rating for the district for an opportunity to refinance, really, and refund some tax dollars that are still owed on the current bond measures for the Glendale Glendale Unified School District." He said any savings would go "back to the taxpayers, not to the district."
Board members urged residents to respond to the upcoming survey when it arrives by text, email or phone so the district can collect reliable data. Dr. DeGrazia said staff will report back at the board's Oct. 27 meeting with more detail on potential savings and next steps.
The discussion did not include a formal vote but set a clear timeline for outreach and a follow-up presentation to trustees. If the district secures a stronger credit rating, refinancing could lower long-term interest costs; the district said it will report estimated savings after the credit-analyst briefing and subsequent fiscal analysis.
