School district refinances bonds, saves around $1 million over 20 years
Cloverdale Unified School District (CUSD) has refinanced prior general obligation bonds of the district sold between 2013 and 2019. District voters approved the prior bonds at elections held in 2010 and 2018 to finance school improvements. The refunding will save property owners more than $1 million in interest costs over the next 20 years and shorten the final payment of the original bonds.
Interest rates on the prior bonds ranged from 5% to 5.25% and the interest rates for the 2020 Refunding Bonds, which were set at a sale to investors on June 23, range from 0.69% to 3.03%. This difference in rates will save property owners $1,063,262.
Superintendent Jeremy Decker said, “Our residents have supported our students over the years by approving bonds to improve facilities. With interest rates at historic lows, we had the opportunity to lower property tax payments by refinancing the prior bonds.”
“Interest rates have trended downward over the past few months and with the support of our board, we took advantage of these low rates to save our taxpayers,” added Chief Business Official Patricia Mills.
The refinancing of the bonds was authorized by the CUSD Board of Trustees on March 11.
“We know that our community supports our schools, and in turn we wanted to give back to our community by saving taxpayer dollars. Because of this refunding, property owners will see lower tax rates over the next two decades,” said Jacque Garrison, board president.
Property owners in the district will see reduced tax rates beginning next year.
Senior center food distribution
The Cloverdale Senior Multipurpose Center is hosting a Sonoma Family Meal food giveaway this Friday, June 26 at 10 a.m. until all of the meals are gone. The nonprofit will be distributing pasta with meat sauce in both small family packs (fit for one to two people) and family packs (three to four people). All ages are welcome and there’s one meal per family. The senior center is located at 311 N. Main St.
City looking for community input on Local Hazard Mitigation Plan
The city of Cloverdale is preparing to updated the General Plan Health and Safety Element of its Local Hazard Mitigation Plan (LHMP). To do so, the city is seeking community opinion about local hazards, as well as what residents and the city can do to minimize the risk of injury or damage to property from future events, such as wildfires, floods and earthquakes.
Feedback from community members will help inform issues that need to be identified in the city’s revision of the LHMP.
According to an announcement from the city, the feedback survey should take approximately five to 10 minutes to complete, and personal information and responses will be kept confidential.
The survey will be open through the end of July 2020.
Leave the goats alone!
Sonoma County Parks has put out a request and a reminder to patrons to leave the goats who are currently employed clearing brush alone to do their work. “Please respect your four-hoofed firefighters,” said a statement from Sonoma County Parks.
“Vegetation management through grazing plays an important role in wildfire protection, especially in parks that border cities, like (River Park). Grazing also helps maintain and improve natural habitat; grazing animals even eat poison oak. While goats and sheep are cute and charismatic, please remember that they are working animals, and, like wildlife, treat them with respect and give them as much distance as possible,” reads the statement. “Tampering with fencing and signs can endanger the animals and cause undue stress to the herd. Additionally, park rules require dogs to be leashed at all times. As we increase our use of grazing to reduce fire risk in all of our regional parks, we ask for your cooperation to help protect the animals and the important role they play.”