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.
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.