You don't like rich people? lol
The pay as you go is the best route to go here, especially with the gang of thieves running sacramento these days.
When people are using California tax dollars to do stuff, I want a good deal.
The same way I want all government connected employees and unions to be a bargain and not getting paid 30% more than in the private sector.
Pay as you go is a way, but you have to plan future things and to pay for that you need the money.
If they did finance this early with bonds, they better have laws preventing everyone from touching it for anything else IMO.
I think they should plan so much for 5 years and bond that, do the work or start it than repeat the same process later, kind of like an escrow.