The Tahoe Truckee Unified School District saved taxpayers a combined $122.7 million after recently selling a final series of bonds under Measure U and Measure E.
“As a result of the low-interest rates we have seen for the last few years and strong tax base growth, the district ultimately received much lower borrowing costs for Measures U and E than projected back in 2014,” said Todd Rivera, who is Tahoe Truckee Unified School District (TTUSD)’s Executive Director of Business Services. “This will cost taxpayers much less than originally promised to voters.”
By selling the bonds several years earlier than planned, the district saved taxpayers a total of $122.7 million in tax payments, versus the initial conservative projections. The selling of the bonds was well-timed, as they sold during a low interest rate environment. If they were to sell even a year later, interest rates would have likely been higher.