The West Valley-Mission Community College District (WVMCCD) has refinanced $201.7 million in outstanding bond debt, saving local taxpayers an estimated $13.5 million over the remaining life of the bonds. The 2026 Refunding Bonds were issued at 3.24%, down from the 4.09% rate on the original bonds. The refinancing was completed alongside the sale of $300 million in new general obligation bonds funding the final phase of the District's voter-approved construction program.

The District's Measure W bond has again earned the highest credit rating available from both Moody’s and Standard & Poor's (S&P).

"Earning the highest bond rating is the market's strongest possible assessment of how this District manages public money, and it translates directly into a lower cost of borrowing for the taxpayers who put their faith in us. This sale funds the final stretch of our major capital construction program, and the refinancing lowers what our residents will pay to see it through. Our students get the facilities they were promised, and the community pays less to deliver them," said Chancellor Bradley J. Davis.

This refinancing demonstrates the District’s continued commitment to strong fiscal stewardship and the responsible management of voter-approved bond measures. The 2026 refinancing marks the sixth time the District successfully refinanced outstanding bonds to achieve savings for taxpayers. Past Bond refinancings completed by the District have saved taxpayers over $39.7 million.

Vice President of the Board of Trustees Susan Fish, who is also a member of the District's Audit and Budget Oversight Committee, attributed the savings to years of disciplined bond management.

"When voters approved these measures, they extended their trust and their tax dollars, and the Board's obligation is to treat both as finite. Those are not incidental gains. They are the product of a Board and an administration that watch the markets, act when conditions favor our community, and measure success by what we give back as much as by what we build," said Trustee Fish.

With this financing in place, WVMCCD will continue with the remaining projects in its voter-approved construction program at West Valley College in Saratoga and Mission College in Santa Clara. View details on project timelines and the District's bond oversight reporting.

About West Valley-Mission Community College District

Located in the heart of Silicon Valley, the West Valley-Mission Community College District serves more than 17,000 students through its two colleges: West Valley College in Saratoga and Mission College in Santa Clara. The District is dedicated to fostering innovative programs, equitable opportunities, and student-centered support services that empower individuals to reach their educational and career goals.