If I recall, I don’t think PUSD residents actually voted for the capital appreciation bonds. I think how it went down was they voted against further tax increases, and the PUSD board had to go out and find creative financing to complete the projects after the vote. How the board members justified it was very passive aggressive: aka, voters wanted the improvements, they refused to pay for it with higher taxes, so we were left with no choice.
What I find outrageous is the cost of these public funded projects. $150 million for Del Norte High? Hey, but that looked like a total bargain for the $1 billion for Palomar Medical Center. and remember, even at $1 billion they still ran out of money to build the maternity ward.
btw, I’m guilty of your last example. I have no idea what the APR is for my credit cards. 🙂 but then again, we are the worse type of customers for the credit card companies as we never keep a balance for them to make money off us.[/quote]
The Board members of PUSD were DEFINITELY shady. No doubt I put the majority of the blame on them. NONE of them should ever hold public office again! The point I was making is what you touched upon, ocrenter. That the voters wanted the improvements, they refused to pay for it with higher taxes. But they listened when the PUSD said that they found a way to do it without raising taxes.
Palomar is a monster. I read today where they just laid off a bunch of employees. They still aren’t getting the traffic that they anticipated.
And people like you don’t count for that credit card APR I mentioned. LOL. I’m like you. I never keep a credit card balance and just pay it off each month so my APR is simple. 0% same like you.
But you get the gist of what I was saying…. it’s not pretty…
