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Bond issues save taxpayers $200,000


Staff Writer

The bean counters at the El Centro Elementary School District have good news for taxpayers in their district.

With some judicial monetary manipulation in refinancing two bond issues they will save taxpayers approximately $200,000 over the life of the bonds.

"We have a responsibility to our taxpayers, so we're always looking and monitoring the bond market and keeping an eye on those interest rates," Arnold Preciado, assistant superintendent of business services for the school district, said in a phone interview Friday.

The bonds, a $2 million Series B bond and a general obligation Series C bond worth $3.6 million, were first floated in 1992 and 1994, respectively, for construction of Sunflower Elementary School and additional construction work at Kennedy Middle School.


Preciado said the school board, noting a downward trend in interest rates, authorized and passed a resolution in October for the district to refinance the bonds. That action took place late February and Preciado says the board is very pleased with the results.

Preciado emphasized, "It's our fiduciary responsibility that we must at all times look at ways to maximize district funds and to maximize the resources available to us. We have a responsibility to the community who helped us in the first place."

>>Staff Writer Jennifer Ralton-Smith can be reached at 337-3442 or

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