The curious incident involving a "created" financial document, $21 million and a former chancellor has come to a close.
San Francisco taxpayers will save about a million dollars per year.
Pedestrian safety improvements for much of Monterey Boulevard have been approved by the San Francisco County Transportation Authority.
San Francisco taxpayers will save about a million dollars per year.
City College of San Francisco saved local taxpayers millions of dollars by refinancing a portion of its 2015 general obligation bonds.
"The college is grateful to the taxpayers of the city and county of San Francisco for their continued support of City College and their generosity in approving bonds that allow us to create world-class teaching and learning spaces for students,” said Anita Martinez, president of the college’s Board of Trustees, in a statement.
The college took advantage of the recent decrease in interest rates and refinanced a portion of its remaining 2015 bonds without extending the term. The college reduced its interest rate by 2%, from 4.8% to 2.8%. Savings will total $6,363,290 over the next six years.
“This refunding opportunity aligns with the college’s commitment to efficiency, accountability and transparency in our financial responsibilities,” interim Chancellor Mitchell Bailey said in a statement. “We are dedicated to accomplishing our mission while providing smart fiscal oversight, and we are proud to have the opportunity to refund these savings to the taxpayers of San Francisco.”
The Board of Trustees and administration pursued this opportunity strictly on behalf of local taxpayers, according to a news release.
The curious incident involving a "created" financial document, $21 million and a former chancellor has come to a close.
Pedestrian safety improvements for much of Monterey Boulevard have been approved by the San Francisco County Transportation Authority.
The finalists — including interim Chancellor Mitch Bailey — have been meeting with the college community all week.
An $80 million, 128-unit building will kick off the development of housing on the Balboa Reservoir.
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