San Andreas, CA – Calaveras County Water District Refinances a Loan which in turn will bring savings to customers. CCW D staff has refinanced a loan with BBVA Compass on the District’s 2004 Refunding Revenue Bonds. The bonds were set to mature in September 2017 with interest rates between 4.0% and 4.5%. CCWD says staff saw an opportunity to save money and refinanced the bonds with a lower 1.58% interest rate saving the District $324,000 over the next four years.
Board President Dennis Dooley stated “I’d like to commend District staff for finding this excellent opportunity to refinance the 2004 Refunding Revenue Bonds, thus saving the District and its customer’s dollars in the future.”
The bonds will still mature in September 2017.