School districts pay dearly for bonds…A MAJOR reason for state-owned banks!

The Real News • TheRealNews @ • January 26, 2013

The Napa Valley Unified School District had a quandary: The district needed a new high school in American Canyon, but taxpayers appeared unwilling to take the financial hit required to build it.

So in 2009, the district took out an unusual loan: $22 million with no payments due for 21 years. By 2049, when the debt is paid, it will have cost taxpayers $154 million – seven times the amount borrowed.

…In California, where rules governing the loans are among the loosest, more than 400 school districts and other agencies have racked up greater capital appreciation bond debt in the past six years than agencies in any other state.

They have borrowed $9 billion that will cost taxpayers $36 billion to repay over the next 40 years, according to data compiled by California Treasurer Bill Lockyer. He called it “debt for the next generation.”

Read the article here.

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One Response

  1. mandiamoli tutti i banchieri a giudizio nel texas, ov esiste ancora la pena di morte,..e poi elimimiamo la pena di morte dopo quest’ultima pulizia,..
    venite a vedere in Italia cosa sta accadendo cone le banche MPS, Unicredit, Magistratra: “è un associazione a delinquere, banda dei banchieri del 5%… associazione a delinqere,… venite a leggere sul web i nostri giornali,… LE BANCHE SONO ENTRATE NEI PALAZZI DI GIUSTIZIA ED HANNO CORROTTO CHI NON DOVEVA ESSERE CORROTTO,.. denunceremo i responsabili al TRIBUNALE INTERNAZIONALE PENALE DELL’AIA PER STRAGE, GENOCIDIO E CRIMINI CONTRO L’UMANITA,….


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