header image

[Sign Up Now] to Receive Our FREE Daily SCVTV-SCVNews Digest by E-Mail

Inside
Weather


 
Calendar
Today in
S.C.V. History
June 18
1945 - PFC Johnny Cordova of Castaic killed in action on Okinawa [story]
Johnny Cordova


College of the Canyons refinanced $36.8 million of outstanding general obligation bond debt giving the district’s taxpayers a cash flow savings of $2.9 million. This represents an overall savings of 5.79% of the refinanced bonds.

“The Santa Clarita Community College District has a longstanding reputation for finding ways to save local property owners money whenever possible,” said College of the Canyons Chancellor Dr. Dianne G. Van Hook. “We are very pleased to have been able to refinance our general obligations once again with fantastic results.”

The Santa Clarita Community College District Board of Trustees, which oversees the college, voted on Wednesday, April 14 to refinance these particular general obligation bonds from Measure M and Measure C. The sale was completed on May 27.

“Since 2013, the Santa Clarita Community College District’s refinancing efforts have resulted in nearly $50 million in cumulative savings to taxpayers,” said Sharlene Coleal, assistant superintendent/vice-president of business services at the college, who has coordinated all bond refinancings for the district.

This is the fourth time in eight years the college has refinanced bonds in an effort to lessen the tax impact on property owners.

A 2019 refinance yielded $8.3 million of savings, which represented a 12.96% reduction. That refinancing also lowered taxes for area property owners. Prior refinancings also occurred in 2016 and 2013.

“I applaud the Santa Clarita Community College District for its repeated efforts to provide savings to local taxpayers over the years,” said Kevin Holmes, chair of the bond oversight committee. “Their proactive approach to bond refinancing is truly admirable and is great news for the Santa Clarita Valley community.”

The Government Finance Officers Association, a national non-profit organization dedicated to providing guidance to improve government management, advises that agencies should consider refinancing bonds if they can save taxpayers at least 3%.

Measure C, which local voters passed in 2001, funded a number of significant facilities improvements at College of the Canyons, including the cost of acquiring 70 acres of land on Sierra Highway to build the Canyon Country Campus, and constructing the Hasley Hall classroom and computer facility, the Aliso Hall and Aliso Lab science facilities, and the Pico Canyon Hall performing arts classroom and rehearsal spaces.

The funding provided through Measure M, approved by voters in 2006, helped the college complete a number of facilities projects, including construction of all the initial buildings at the Canyon Country Campus.

It also qualified COC to receive state matching funds used in building the Dr. Dianne G. Van Hook University Center that now offers more than 40 bachelor’s and master’s degree programs.

Other key projects included the Culinary Arts building, the Mentry Hall classroom expansion, The Library and Learning Center expansion, the Applied Technology Education Center at the Canyon Country Campus, and the Canyons Hall student services center.

Together, Measure C and Measure M qualified College of the Canyons to receive $56.2 million in construction funds from the state. Colleges that have local bond funds available are given priority when applying for state funding.

Comment On This Story
COMMENT POLICY: We welcome comments from individuals and businesses. All comments are moderated. Comments are subject to rejection if they are vulgar, combative, or in poor taste.
REAL NAMES ONLY: All posters must use their real individual or business name. This applies equally to Twitter account holders who use a nickname.

0 Comments

You can be the first one to leave a comment.

Leave a Comment


HIGHER EDUCATION LINKS
LOCAL COLLEGE HEADLINES
Tuesday, Jun 17, 2025
The American Sign Language Interpreting program at College of the Canyons is a comprehensive two-year program designed to award students with an Associate in Arts degree in American Sign Language Interpreting.
Tuesday, Jun 10, 2025
Cell and molecular biologist Chhandak Basu, a professor at California State University, Northridge, is an expert in plant and microbial cellular responses to climate change and environmental extremes.
Monday, Jun 9, 2025
In fall 2025, College of the Canyons will launch its Diagnostic Medical Sonography program with an 18-student cohort.
Monday, Jun 9, 2025
The Santa Clarita Community College District Board of Trustees will hold a business meeting Wednesday, June 11.
Friday, Jun 6, 2025
The College of the Canyons Pharmacy Technology program is currently accepting applications for its first 18-student cohort until Monday, June 30.
Keep Up With Our Facebook

Latest Additions to SCVNews.com
1945 - PFC Johnny Cordova of Castaic killed in action on Okinawa [story]
Johnny Cordova
The American Sign Language Interpreting program at College of the Canyons is a comprehensive two-year program designed to award students with an Associate in Arts degree in American Sign Language Interpreting.
COC Offers AA Degree in American Sign Language Interpreting
Escape Musical Theatre presents "The Music Man" at the Santa Clarita Performing Arts Center at College of the Canyons. Performances will run June 19-22.
June 19-22: Escape Musical Theatre Presents ‘The Music Man’
On Sunday, June 22, 9 a.m.-1 p.m. the Vet at the Park Mobile Clinic will visit Canyon Country Community Center, 18410 Sierra Highway, Santa Clarita, CA 91351.
June 22: Vet at the Park Mobile Clinic at Canyon Country Community Center
The Greater Los Angeles County Vector Control District has launched its 2025 summer campaign, “Guardians of Greater LA,” to highlight the unwavering commitment of the district and its dedicated staff in protecting the health of nearly six million county residents.
Vector Control Launches Summer Mosquito Awareness Campaign
The Castaic Aquatic Center offers a variety of swims this summer, including recreational, laps and aqua aerobics, and recreational swims are free.
Castaic Aquatic Center Summer 2025
Recreational Swim is offered during the week and weekends at various Santa Clarita pools during the summer.
Summer Recreational Swimming in the SCV
Runners of all ages are invited to support the College of the Canyons cross country and track & field programs by participating in the 50th Annual Cross Country Summer Series sponsored by Fleet Feet on Thursday evenings from July 10 to Aug. 14.
Thursdays July 10-Aug. 14: 50th Annual COC Cross Country Summer Series Runs
1890 - 18-day murder trial of Castaic's W.C. Chormicle and W.A. Gardner ends in acquittal [story]
William Chormicle
Take a Sunset Stroll at Vasquez Rocks Natural Area and Nature Center in Agua Dulce.
Take a Sunset Stroll at Vasquez Rocks
The Los Angeles County Board of Supervisors will vote Tuesday on a motion introduced by Supervisor Kathryn Barger to defer and refund costly County permit fees for survivors of the devastating Eaton and Palisades Fires that struck in January 2025.
Barger Seeks to Defer, Refund Permit Fees for Eaton, Palisades Fires Survivors
Child Rights and You (CRY) America is a 501(c)(3) nonprofit dedicated to ensuring every child’s right to education, healthcare, and protection from abuse and exploitation.
July 26: CRY America Launches Los Angeles Youth Chapter
Join the Santa Clarita Valley Concert Band on Saturday, June 28 at 5 p.m. for its "Stars and Stripes" concert.
June 28: SCV Concert Band ‘Stars and Stripes’ Concert
Jersey Mike’s Subs, known for its fresh sliced and fresh grilled subs, will host a grand opening and school fundraiser at 16400 Village Way in Santa Clarita on Wednesday, June 18.
Jersey Mike’s New SCV Location to Host Grand Opening, School Fundraiser
California Credit Union announced Monday the launch of “Georgia,” a new virtual chatbot designed to deliver fast, intelligent and secure support to members 24/7.
California Credit Union Launches ‘Georgia’ Virtual Chatbox
The American Cancer Society Discovery Shop is seeking volunteers for its Santa Clarita store this summer.
Volunteers Needed for American Cancer Society Discovery Shop
The deadline for standard entries for the Santa Clarita Valley 2025 Fourth of July Parade registration has been extended to 5 p.m. Tuesday, June 17.
June 17: SCV Fourth of July Parade Registration Deadline Extended
The city of Santa Clarita has announced the release of the sixth episode of Santa Clarita Voices, the city’s official podcast, that highlights the stories, experiences and conversations from city leaders and unique members in the community.
Santa Clarita Voices Episode Six Available Now
As a longtime resident of Santa Clarita, I know that summer brings more than just high temperatures, it also marks a peak season for wildfire danger.
Ken Striplin | Keeping Our Community Safe from Wildfires, Fireworks
Green Santa Clarita notes that, to help prevent ant pesticide pollution in Santa Clarita waterways, the first thing to do is to prevent ants from coming into our home or business in the first place.
Please Keep Ant Spray out of Waterways
The Los Angeles County Department of Public Health cautions residents who are planning to visit certain Los Angeles County beaches to avoid swimming, surfing and playing in ocean waters.
LA County Ocean Water Use Warning for June 16
The city of Santa Clarita Film Office has released the list of eight productions filming in the Santa Clarita Valley for the week of Monday, June 16 to Saturday, June 21.
June 16-21: Eight Productions Filming in SCV
The regular meeting of the William S. Hart Union High School District’s Governing Board of Trustees will be held Wednesday, June 18, beginning with a closed session at 6:30 p.m., followed by an open session at 7 p.m.
June 18: Hart Board to Recognize West Ranch Baseball
1876 - D.G. Scofield forms California Star Oil Works, hires Alex Mentry to drill in Pico Canyon [story]
Pico oil rigs
SCVNews.com