School districts can save their taxpayers money by refinancing their outstanding general obligation bonds into lower interest rates. However, many smaller refundings cannot be completed because high fixed costs of issuance carve too deeply into potential savings.
For over 30 years, California school districts and community college districts have saved time and money by issuing tax and revenue anticipation notes (TRANs) through the California School Cash Reserve Program Authority sponsored by CSBA, the largest pooled TRAN financing in the nation. The GO Bond Refunding Pool follows in this tradition by allowing districts to unlock taxpayer savings by driving down costs through an easy-to-use shared financing platform.
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