Opus Bank Completes Tax Allocation Bonds Refunding for the Successor Agency to the Redevelopment Agency of the City of Hollister
Overview of Transaction
The City of Hollister (“City”) was incorporated in 1872 in San Benito County and is now home to 36,700 people. The City provides a full range of municipal services including law enforcement, fire protection, construction and management of streets and infrastructure, code enforcement, building inspections, water and wastewater, and administration.
Significance of Transaction
The refinancing will generate over $1,875,000 in total interest savings for the City and other public agencies within the local property tax assessment area.
Opus Bank's Role
Opus Bank worked with the City staff and its financing team to put together a flexible refinancing program that allows for the most efficient utilization of taxpayer funds.