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4 thoughts on “Poway and the billion dollar capital appreciation school bond

  1. zippy

    What a political pile of crap. I live in the PUSD district. Amazingly an earlier bond proposition turned out to be underfunded. To fix that mess along comes proposition C. Of course there was no disclosure that taxing limitation caused by the earlier bond would cause creative financing (CAP). And of course what ever is built will be obsolete well before the bonds are paid off. Now many believe that the earlier bond proposal was purposely underfunded to meet state tax limitations.

  2. Richard

    I wonder what the district will do when it wants to build something in 10 years? If the district remains at the tax cap, will issuance of the future bonds require a simultaneous vote to raise the tax cap when the new bonds start requiring actual cash payments?
    Little has been said about what the $105 million bonds will actual buy, or whether $105 million is a fair price for the value received. There’s a certain lack of discipline about spending “free” money. Free to the current board members, district administrators, and even taxpayers at least.

  3. EDG reppin' LBC

    It seems a little wacky, but it actually makes sense. I broke out the HP 12c, and yep, the Net Present Value of $105 million at 5.5% interest amortized over 40 years, is about $1 billion. Certainly a big number, and seems shocking at first. But it seems to be a pretty decent bond after all. My only concern is Poway. Have you ever been to Poway? I have. Yeeeesh!

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