What I don’t understand is, are the bond ratings agencies asleep at the switch on this? If not, why haven’t they lowered their ratings based on this gigantic future debt? Are they counting on increases in real estate values plus inflation to save the day? Crazy. So many questions still unanswered.
Bonds were just approved last week to be placed on the Nov ballot for both Del Mar Union School (encompassing Carmel Valley/Del Mar) and San Dieguito Union High School districts. Gee, I wonder if those will be successful now, especially because those districts are using the same Orange County financial consultant as Poway. Hopefully the voters will have their eyes wide open.
