CVUSD Delivers Over $1.7M in Savings to Local Taxpayers
The Conejo Valley Unified School District is proud to announce its most recent initiative to benefit students and community members. Under the leadership of the School Board, the District chose to take advantage of the recent decrease in interest rates and refinance some of its old Measure I G.O. Bonds in order to deliver some taxpayer relief.
During the refinancing process, District staff worked with two national bond credit rating agencies and secured upgrades to “Aa2” from Moody’s and “AA” from Standard & Poor’s. The combination of decreasing interest rates and increased bond credit ratings abled the District to reduce the interest rate on some of the old Measure I Bonds from 4.42% to 2.57%, reducing the community’s tax bill by about $1.7 million from 2025 to 2030.
Some of the reasons for the credit rating upgrades are District’s growing economy, good governance, sound financial position and prudent fiscal management of the District.
While the District itself will not receive any part of the savings, the Board, the Superintendent and District staff pursued this opportunity strictly on behalf of local taxpayers as part of their continued support for the education of the children of the community.
Some of the highlights of the 2024 refinancing are:
- $1,711,487 of Savings from 2025 to 2030
- Average Old Interest Rate: 4.42%
- Average New Interest Rate: 2.57%
- 1.17 to 1 Repayment Ratio
- Bond Credit Rating Upgrade by Moody’s from “Aa3” to “Aa2”
- Bond Credit Rating Upgrade by Standard & Poor’s from “A+” to “AA”
Learn more about Measure I at: www.conejousd.org/MeasureI
