Las Lomitas Elementary School District refinances bonds, saving taxpayers $2.8 million
On February 5, 2026, the Las Lomitas Elementary School District successfully
completed the ‘refunding’ (or refinancing) of $23.6 million of its outstanding Measure “S” General Obligation bonds, which were approved by more than 70% of voters in 2013.
Similar to replacing a 30-year home mortgage with a 15-year mortgage, refunding school district General Obligation bonds generally reduces tax rates by replacing existing 25-year bonds with new, lower-interest-rate, shorter-term bonds. This refunding will save local taxpayers $2.8 million through 2040. For the average residential property in the District, savings are projected to average $40 per year and total more than $600 by the maturity of the refunded bonds in 2040.
Prior to the process of issuing the refunding bonds, Moody’s also affirmed the District’s top “Aaa”credit rating. This rating – the best available – recognizes the District’s strong local economy, the community’s investment in District schools, consistent financial operations with strong reserves, and moderate debt burdens.
“This refunding is a testament to the District’s commitment to fiscal responsibility and its dedication to maximizing taxpayer dollars,” said Erik Burmeister, Superintendent. “The Board and I are incredibly excited to save our residents money — and we’ll continue to do everything we can to be good stewards of our community’s investment.”
TheLas Lomitas Elementary School District is comprised of two schools in Menlo Park and Atherton — Las Lomitas Elementary (TK-3rd grade) and La Entrada (4th-8th grades).
Photo is Las Lomitas School
