SBCCD to Deliver $10,700,000 in Savings to Local Taxpayers by Alisa Moore - City News Group, Inc.
View Upcoming Events View Your Local Sales

Community Calendar

JULY
S M T W T F S
28 29 30 01 02 03 04
05 06 07 08 09 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 01
View Events
Submit Events
directory

SBCCD to Deliver $10,700,000 in Savings to Local Taxpayers

By Alisa Moore, Community Writer
October 7, 2015 at 02:06pm. Views: 126

The San Bernardino Community College District (SBCCD) is proud to announce its most recent initiative to benefit its students and community members. This initiative will deliver bond interest rate savings to local taxpayers from the refinancing of a portion of the District’s Election of 2002 Measure P Bonds. Under the leadership of the Board of Trustees, the district administration chose to take advantage of historically low interest rates to refinance bonds from its Measure P authorizations without extending the term of those bonds. The district was able to reduce the interest rates on the prior bonds from an average of 5.00% to 3.54%, reducing the community’s tax bill by a total of $10,705,677.64 over the life of the refinancing. John Longville, President of the SBCCD Board of Trustees, said, “The SBCCD Board of Trustees and District administration recognize their fiscal and fiduciary responsibility to save our community money and are pleased to be able to save the taxpayers such a substantial amount over the life of these bonds.” Chancellor Bruce Baron said, “We will continue to monitor the financial markets in order to be able to take advantage of any similar opportunities that might become available. We are particularly proud of the fact that such recognized credit rating services as Moody’s and Standard and Poor’s gave our District high ratings for consistently good financial practices.” The district’s ability to obtain these low interest rates and achieve these high savings levels was boosted by its credit ratings of “Aa2” assigned by Moody’s Investors Service and “AA-” from Standard and Poor’s, which reflect the district’s large property tax base, stable finances and strong reserves, and good financial management policies. These strong ratings allowed the district to attract a great deal of investor interest and obtain excellent interest rates on the date of bond refinancing. While the district will not receive any part of the savings, the District Board and District Administration pursued this opportunity strictly on behalf of local taxpayers as part of their continued support for the education of the students of its community. This was the second time that the San Bernardino Community College District took the initiative to deliver savings to its community. In April 2013, the district did a similar bond refinancing and saved local taxpayers a total of $11.5 million.

Related Articles

Photo Courtesy of: City News Group AI Generated Image

By Ruby Stephenson, Community Writer

July 8, 2026 at 07:59am. Views: 89

California ballot drop box symbolize the upcoming municipal election and opportunities for residents to participate in local government. The election provides an opportunity for community members to help guide decisions affecting neighborhood improvements, economic development, and city services for years to come.

Photo Courtesy of: City of Anaheim Storm Drain & Sewer Maintenance

By William Cortez, Community Writer

July 8, 2026 at 07:59am. Views: 86

Storm drain infrastructure helps manage rainwater and reduce flooding in residential neighborhoods. Recent planning efforts have focused on identifying long-term improvements that can better manage stormwater, reduce localized flooding, and support future development throughout the city.

Photo Courtesy of: City News Group AI Generated Image

By Stella Pierce, Community Writer

July 8, 2026 at 07:59am. Views: 88

Mom and daughter help cleanup their community. Residents regularly work alongside city staff, nonprofit organizations, and local businesses to support programs that improve parks, beautify public spaces, and bring neighbors together.

Photo Courtesy of: AI Generated Image Greated by ChatGPT

By Stella Pierce, Community Writer

July 8, 2026 at 08:00am. Views: 89

The iconic California Theatre glows in downtown San Bernardino as visitors arrive for an evening performance, highlighting the historic venue's continuing role as a centerpiece for arts, culture, and community events.

Photo Courtesy of: AI-generated by ChatGPT.

By William Cortez, Community Writer

July 8, 2026 at 08:00am. Views: 94

Volunteers of all ages work together in a San Bernardino community garden, planting fresh vegetables and flowers while promoting healthy living, environmental stewardship, and stronger neighborhood connections.

Photo Courtesy of: AI-generated by ChatGPT.

By William Cortez, Community Writer

July 8, 2026 at 08:00am. Views: 98

A classic Route 66 scene celebrates San Bernardino's place along the historic highway, where vintage Americana, local businesses, and community pride continue to welcome travelers from around the world.

Photo Courtesy of: TME Photography by Titan Mom Elvira

By Titan Mom Elvira, Community Writer

July 8, 2026 at 08:00am. Views: 92

Welcome to the celebration! Parade volunteers proudly welcomed the community to Moreno Valley's 4th of July Parade celebrating 250 Years of Freedom.

Photo Courtesy of: City News Group AI Generated Image

By Stella Pierce, Community Writer

July 8, 2026 at 08:00am. Views: 93

City crews and firefighters inspect vegetation management efforts designed to reduce wildfire risks around neighborhoods.

Photo Courtesy of: AI-generated by ChatGPT

By William Cortez, Community Writer

July 8, 2026 at 08:00am. Views: 93

Children and parents enjoy trampoline attractions, climbing areas, and interactive games inside a modern indoor family entertainment center.

Photo Courtesy of: AI-generated by ChatGPT

By Ruby Stephenson, Community Writer

July 8, 2026 at 08:00am. Views: 52

A family prepares emergency supplies and evacuation essentials as part of a wildfire readiness plan. Inland Empire wildfire, CAL FIRE, Riverside County Fire, San Bernardino County Fire, emergency preparedness, wildfire prevention, Inland Empire news, California fire season

Photo Courtesy of: City News group AI generated Image ChatGPT

By Stella Pierce, Community Writer

July 1, 2026 at 01:33pm. Views: 626

A California Highway Patrol officer monitors traffic as drivers travel along a busy Inland Empire freeway.

Photo Courtesy of: https://www.instagram.com/reel

By Stella Pierce, Community Writer

July 1, 2026 at 01:33pm. Views: 1033

A member of the Jessie Combs Foundation team performs maintenance under the hood of a vintage Chevrolet Blazer during the 2026 Hemmings Great Race, showcasing the mechanical skill and teamwork required to keep historic vehicles running throughout the cross-country rally.

--> -->