[Dina Gentry, Pleasant Valley, CA]
Gold Oak Union School District successfully completed the ‘refunding’ (or refinancing) of $1.92 million of its outstanding bonds, which were approved by District voters in November of 2008 (56.1%). This refunding will save local taxpayers more than $700,000 in total through 2033. With savings projected to be $60.40 per $100,000 of taxable property over that period of time, savings for the typical household in the District are expected to total $191 (averaging $14.50 per year).
District leaders were very pleased with the refunding. “Given that we owe such gratitude to the greater Gold Oak community, of course we’ll do everything we can to be good stewards of their investment,” said Board President, Renee Ferguson. “The moment we saw the opportunity to reduce tax bills, we acted immediately to decrease the cost of Measure “E” – and we very much appreciate our Administration and entire team for getting it done.”
In the process of issuing the refunding bonds, the District also affirmed its “A+” credit rating from Standard & Poor’s. This strong rating recognizes the District’s strong local economic indicators, good financial policies and procedures, and low debt burdens. The “A+” rating also allowed the District to successfully conduct the sale of 2020 GO Refunding Bonds and take advantage of very favorable market conditions.
“Here in Gold Oak, our partnership with the community allows us to work as a team to best support our students,” said Superintendent Meg Enns. “Everyone plays a role in our success – so when there’s a chance for us to give back to everyone, we are more than happy to make it happen.”
About Gold Oak Union School District:
Gold Oak Union educates approximately 480 students in transitional kindergarten through eighth grade at Gold Oak Elementary School and Pleasant Valley Middle School. The mission of the District is to promote and challenge the intellectual, creative, physical, and social development of all students – and the District partners with its broader community in a variety of ways to help achieve these goals.
