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District refinances $11.8 million in bonds

November 04, 2011

La Cañada Unified has refinanced $11.8 million in general obligation bonds, district officials announced this week. The savings to taxpayers will be $616,073 during the remaining lifetime of the bonds.

The refinancing was made possible in part by the district’s high AA bond rating, officials said.

“Our community is dedicated to providing students with the highest quality education and the governing board is dedicated to ensuring taxpayers dollars are spent wisely,” Supt. Wendy Sinnette said in a statement. “This was a great opportunity to save taxpayers a significant amount of money that will be put back into the local economy.”

Measure A, passed in 1999, and Measure B, passed in 2004, financed the renovation of classrooms, science labs and band rooms, among other things.

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—Megan O’Neil

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