Opus Bank is pleased to announce it provided:

Title: The City of Santa Fe Springs
Amount: $16,215,000
Month: December
Year: 2017

The City of Santa Fe Springs

Opus Bank provides $16.2 Million in tax allocation bond refunding

Opus Bank's Role

  • The City of Santa Fe Springs (the “City”) was incorporated in 1957 in Los Angeles County and is now home to 18,500 people.  It is a major industry and employment center, with daytime population of 95,000. 
  • The City provides a wide range of municipal services, including public safety (police and fire); planning and zoning; construction and maintenance of streets, parks, water distribution system and other infrastructure; culture and recreation; economic development; and general administrative services.

Significance of Transaction

  • Opus Bank (“Opus”) worked with the City’s staff and its financing team to refinance tax allocation bonds of the City’s Successor Agency to the Community Development Commission, saving close to $1.9 million in interest costs for various local government agencies over the next 5 years.

Overview of Transaction

  • Opus offered an advantageous financing structure that allowed for maximized interest savings to the City.

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