Tahoe Forest Health System has recently refinanced a portion of the District’s General Obligation (GO) bonds, which will reduce taxes to local property owners.
In 2006, the community passed the District’s “Measure C” GO bonds by a 72% supermajority vote in the amount of $98.5 million dollars.
The District had refinanced the other portions of the GO bonds in 2015 and 2016. Combined with the recent refinancing, the District has been able to achieve a total savings and reduction in property taxes to the local taxpayers of $20,393,113 over the remaining life of the bonds.
The GO bonds were needed to comply with Senate Bill 1953, requiring California hospitals to meet state-mandated earthquake seismic requirements. In addition to the seismic upgrades, the GO bond funds have supported the construction of the Gene Upshaw Memorial Tahoe Forest Cancer Center, renovation and improvements to the emergency department and skilled nursing facility, central plant upgrades, and improvements in radiology equipment among other important and needed projects.
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