SAN GABRIEL – The San Gabriel Unified School District is continuing to deliver positive changes for its students and community members. The District’s latest endeavor will deliver savings to local taxpayers of almost $1,500,000 from the refinancing bonds from its 2002 Measure “A” Authorization.
Under the leadership of the District Governing Board and Administration, the District chose to take advantage of historically low interest rates to refinance Bonds from its Measure “A” Authorization without extending the life of the Bonds. The District was able to reduce the average interest rates on its prior Bonds from 4.96% to 2.82%, reducing the community’s tax bill by approximately $90,000 – $210,000 per year for 13 years for a total of $1,479,526.
While the District will not receive any part of the savings, the District Administration pursued this opportunity strictly on behalf of local taxpayers in acknowledgement of their continued support for the education of the children of the community of San Gabriel.
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