Sierra College asked the community to pass two bond measures to build campuses in Grass valley and Truckee- and now the college is repaying the favor- literally! In 2004 Measure G to support a Grass Valley Campus and Measure H to support a Truckee campus was passed by local voters. Sierra College Superintendent/President Willy Duncan says refinancing debt is saving taxpayers millions of dollars.
Click here to listen to Sierra College President, Willy Duncan
The savings generated by this action will go directly to the taxpayers in the form of reduced property taxes over the next 17 years.
Click here to listen to Willy Duncan
Refinancing is part of the ongoing maintenance of existing debt which has resulted in significant savings over the last few years. The Bonds were sold Wednesday through a public offering, the interest rates are fixed, and the taxpayer savings are guaranteed.