Trabuco Canyon : District Refinances Mello-Roos Bonds
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By refinancing its Mello-Roos bonds, the Trabuco Canyon Water District will save about $7 million in interest payments, an official said.
Fred Sims, the district’s general manager, said the district refinanced on Thursday about $74 million in Mello-Roos bonds and will save nearly $350,000 annually over the next 20 years.
“The right combination of factors allowed the district to obtain the refinancing, which will be used to make up revenue shortfalls resulting from tax delinquencies and property tax shifts and help stabilize rates within the district,” Sims said.
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