I’m probably in the minority, but reading another article on this today in the UT, I don’t think it’s that expensive for the people who have to pay it. They also went through how the board came through this decision and got approval throughout the steps. I’m not sure where the capital appreciation bond came into the equation, but it said the San Diego Unified already had some of these where they will be paying 800-900mil on 150mil loan or something…

Also, the residents are going to have to pay like $200/year or something for this and I read that it maxes at 800-900 or so PER YEAR near the end. That doesn’t sound crazy when people pay that in HOAs in like 2-3 months. You don’t even have to start with Mello-Roos which are in the neighborhood of 3k-8k or something per year.

In the end, there is simply no money to go around anywhere from the states/city/local gov anymore so unless you want the schools to all collapse and pretty much be crap, I think cities will have to do something.

I wouldn’t be surprised if more school districts did this and “kick the can down the road” so to speak.

Not having to pay any interest in 20 years is also pretty sweet.

All that said, I’m not sure if it’s the “correct” thing to do, but until some honest financial guy comes in like Rich and breaks it down, I question whether people are just blowing this out or proportions.