Rocklin Unified School District
Opus Bank provides $9.9 Million Term Loan for Mello Roos CFD Bond Refunding
Opus Bank's Role
- Formed in 1866, Rocklin Unified School District (the “District”) provides education services to an area of approximately 60,000 people in Rocklin, CA.
- The District operates 11 elementary, two middle schools, two high schools, a continuation high school and the Rocklin Independent Charter Academy with almost 12,000 students in K-12 grades.
- The mission of Rocklin USD is to ensure each student becomes a well-rounded individual who thrives intellectually and develops unique strengths to pursue and achieve personal ambitions while contributing to a dynamic world through a school system distinguished by: a culture of innovation, collaboration and high expectations, inspired personal learning and growth, respect and support for all those who serve our students, and vital partnerships throughout our community.
- More information about the District can be found at http://www.rocklinusd.org.
Significance of Transaction
- Opus Bank (“Opus”) worked closely with the District’s staff and financing team to refinance some of the District’s Mello Roos Community Facilities District bonds, generating savings of approximately $1,190,000.
- The savings will be used for capital projects over the next 12 years.
Overview of Transaction
- The refinancing was completed on a quick turn-around schedule, maximizing the interest savings benefits for future capital projects.