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Proposition M Bond Refinance a huge success

March 27, 2014 (La Mesa) -- The La Mesa-Spring Valley School District was able to refinance a portion of the Proposition M General Obligation Bonds saving $650,000.  Much like a homeowner can refinance a home loan to obtain a better interest rate and lower their monthly mortgage payment a school district can refinance its bonds for a better rate and lower the bond cost to all property tax payers.

Board Member Bill Baber observed,  “This refinancing is a good deal for La Mesa and Spring Valley taxpayers. It's rare when a government body can lower taxes, but we got it done."

The total net savings of the refinance is $650,000.  The savings will be seen in property tax bills later this year.

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