Bond refunding will save taxpayers $21.2 million

SAN MARCOS – Taxpayers in the Palomar Community College District will save $21.2 million in future debt payments as a result of a bond refunding process that was completed on Thursday, Oct. 15.

In order to take advantage of uncommonly low interest rates, “We performed a careful analysis of how we might optimize savings to our taxpayers, and identified about $200 million of Series C bonds that were eligible for refunding,” said Yulian Ligioso, the acting assistant superintendent/interim vice president of Finance & Administrative Services at Palomar. “That represents an approximately 9.5% saving...