City of Hollister
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.