August 7, 2020 - On Friday, Jeff Aranguena, Mariposa County Unified School District Superintendent reported Mariposa County Unified School District sells bonds, saving taxpayers more than $8.9 Million.

Last month, the Mariposa County Unified School District sold its third and final series of bonds related to the District’s 2016 Measure L bond program. In November 2016, over 70% of District voters approved the sale of up to $24 million of GO bonds to build new classrooms, renovate roofs, HVAC, and plumbing, and make other facilities improvements.

At the time of the election, it was estimated that the total repayment costs of both principal and interest would be $52.0 million. After having sold its first bonds in March 2017 for $8.5 million, second series of bonds in October 2018 for $9.5 million, and third series of bonds in July 2020 for $6.0 million, the actual total repayment cost for the Measure L Bond Election is $43.1 million, a difference of $8.9 million. The District was able to take advantage of strong growth in its tax base and of some of the lowest interest rates in history for this most recent bond sale, which will allow it to continue improving facilities for students.

Superintendent Jeff Aranguena stated, “Local voters were very generous to the District by approving Measure L. We always try to be responsible stewards of the taxpayers’ dollars and by selling now, we were able to lock in low rates and further improve our educational programs. We thank the community for their trust in us.”

The issuance of the most recent bond sale was authorized by the District Board on July 9th. “We are thrilled with the results of the sale and that we could save our taxpayers throughout this bond program. It’s exciting to see the improvements to our facilities.” added Board President Steve Bacus.
Source: MCUSD