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Board approves parameters for bond refunding; advisor projects present‑value taxpayer savings
Summary
Board adopted a refunding resolution that authorizes district staff to pursue refinancing of callable general obligation bonds; the municipal advisor said refinancing could deliver present‑value savings near 2.9% (gross ~3.7%) and staff expects to target a 3.5% interest parameter and a potential pricing/close in early September if markets cooperate.
The Corona‑Norco Unified School District board voted to adopt a resolution authorizing staff to pursue refunding of certain general obligation bonds after a presentation from municipal adviser Fieldman, Rollup & Associates.
Advisor Adam Bower explained that market movement had created an opportunity to refinance callable maturities (two series with 8/12/2025 call dates), and he summarized assessed value context, credit rating outcomes and the debt schedule. He…
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