The San Francisco Airport Commission refunds $110 million in fixed-rate revenue bonds with new variable-rate bonds to lower its overall interest cost.  •  The San Dieguito Union High School District responds to the turbulent auction-rate market by converting $90 million in ARS bonds to fixed-rate securities.  •  De La Rosa & Co. generates $41 million of retail orders to reduce yields and save the L.A. County Metropolitan Transportation Authority significant interest costs on a $25-million Sales Tax Revenue Bond issue.  •  The L.A. Community Redevelopment Agency obtains a strong investment-grade rating on a $12.5-million Taxable Tax-Allocation Bond issue for the Westlake Recovery Project.  •  Despite a tough market, Beverly Hills successfully refunds $31 million in water revenue bonds and $17 million in wastewater revenue bonds for economic savings.  •  The Gridley Redevelopment Agency clears various hurdles caused by tightening credit in the municipal market to successfully execute its first tax-allocation bond financing.  •  Riverside issues unenhanced Bond Anticipation Notes to mute the effects of the collapse of auction-rate securities and prudently control interest costs.  •  The Sacramento Regional County Sanitation District restructures $50 million in auction rate securities with better performing, direct pay variable-rate bonds backed by letters of credit.  • 
 

Calaveras Golf Resort

In 2006, De La Rosa & Co. closed on two land-secured refundings for Saddle Creek, a master-planned golf community in the Sierra Nevada foothills. A Calaveras County community facilities district and county Water District assessment district issued bonds for infrastructure improvements in 2001, but developer Castle & Cooke chose had only built up about 25% of the resort at the time of the refunding. The DLR Sales and Trading Desk was able to price the bonds at lower rates than almost all comparable issues, and find buyers who understood Castle & Cooke’s long-term development strategy.

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De La Rosa & Co. is a full-service investment bank with offices in Los Angeles and San Francisco. Since it was founded in 1989, De La Rosa has helped public entities and private businesses secure funding for capital projects. The firm is registered with the Financial Industry Regulatory Authority (FINRA), Securities and Exchange Commission (SEC), and is a member of the Securities Investor Protection Corporation (SIPC).

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