Beardsley School District
Opus Bank’s Public Finance division provides a $5,480,000 term loan to Beardsley School District for general obligation bond refunding.
Overview of Transaction
- Beardsley School District (“Beardsley”) was established in 1882. Beardsley provides education services to an area of approximately 17,800 people in Bakersfield, California and operates 3 elementary schools and one middle school with approximately 1,800 students from Kindergarten to 8th grade.
Significance of Transaction
- Opus Bank (“Opus”) provided a loan, proceeds of which were used to refinance general obligation bonds of the District, saving a total of $690,000 for local taxpayers over the next 15 years.
Opus Bank's Role
- Opus was able to complete the refinancing on a quick turn-around schedule, maximizing the tax savings benefits for local residents and businesses.