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Rocklin, Calif.- The City of Rocklin, on behalf of Community Facilities District No. 7 (CFD No. 7), issued $2,287,721 in Community Facilities District No. 7 Refunding Special Tax Bonds, Series 2012. The bonds carry a 3% interest rate, which is fixed through final maturity in 2022, and refund $2.33 million in outstanding CFD No. 7, Series 1997 bonds, which carried an average interest rate of 6%.

The refunding will result in a cash flow savings of about $50,000 per year or 13% of the amount of the remaining outstanding bonds. Refunding the bonds before the 2012โ€2013 special tax deadline is due to Placer County, property owners paying the CFD No. 7 special taxes will have the savings from the refunding passed on beginning with their tax payments due in December, 2012.

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For further information please contact the Rocklin Finance and Budget Department, City of Rocklin, 916โ€625โ€5020.

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