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 2012‐2013 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.
For further information please contact the Rocklin Finance and Budget Department, City of Rocklin, 916‐625‐5020.