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S.C.V. History
August 3
1975 - Henry Mayo Newhall (Memorial) Hospital opens with 100 beds [story]
HMNMH


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.

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HIGHER EDUCATION LINKS
LOCAL COLLEGE HEADLINES
Friday, Jul 30, 2021
College of the Canyons has received a $74,707 Campus as a Living Lab (CALL) grant from the National Science Foundation (NSF) to provide opportunities for underrepresented community college students to engage in undergraduate research focusing on native bees.
Tuesday, Jul 27, 2021
The California State University announced Tuesday that it will require faculty, staff and students who are accessing campus facilities at any university location to be immunized against SARS-CoV-2, the virus that causes COVID-19.
Monday, Jul 26, 2021
College of the Canyons announced it will host a weeklong Fall Rush event Aug. 2 to 6 to assist new students with the registration process.
Friday, Jul 23, 2021
The Soraya, located at the California State University, Northridge campus, announced it is celebrating both its 10th Anniversary and its reopening with a special gift of five free concerts to welcome back and thank its loyal audience.
Monday, Jul 19, 2021
Rep. Mike Garcia, R-Santa Clarita, announced this week he secured $1 million for College of the Canyons and $610,000 for Henry Mayo Newhall Hospital to be included in the 2022 Labor, Health, and Human Services Appropriations bill.
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1975 - Henry Mayo Newhall (Memorial) Hospital opens with 100 beds [story]
HMNMH
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