Campbell Union High School District

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PRESS RELEASE: Campbell Union High School District Announces Bond Refinancing Initiative, Saving Taxpayers Millions in Future Debt Payments

On November 19, the Campbell Union High School District (CUHSD) announced its most recent bond initiative that will save the community $3.1 million in future debt payments. 

“Our residents have supported CUHSD students over the years by approving bonds to improve our schools. We are taking advantage of historically low interest rates to lower future debt payments and save taxpayers a significant amount of money,” said CUHSD Board President Kalen Gallagher.

By taking advantage of favorable market conditions and supported by the District’s current “AAA” rating from Standard and Poor’s, the District has locked-in an interest rate of 2.23% for the life of the 1999 voter-approved bonds that are being refinanced. 

"Prior to the new refinancing bond initiative, the local community was paying an aggregate interest rate of 4.94% on this debt on bonds,” said Assistant Superintendent of Business Services Nancy Pfeiffer.

As a result of the very low interest rate received on the bonds, the District was also able to shorten the final debt payment schedule from 15 years to 13 years.

“The District is committed to remaining fiscally responsible on behalf of the CUHSD community and we will continue to find ways to give back to our voting community,” said Superintendent Robert Bravo. 

The District expects to complete the transaction on December 5, 2019.