More coverage here ...
Where Borrowing $105 Million Will Cost $1 Billion: Poway Schools
http://www.voiceofsandiego.org/education/article_c83343e8-ddd5-11e1-bfca-001a4bcf887a.html
What People Are Saying About the Bond
“If they ever told the truth, they would never get these approved by the voters.” — Glenn Byers, Los Angeles County assistant treasurer and tax collector.
“This is way worse than loan sharking. And Poway is the poster child. What they have done is absolutely insane.” — Michael Turnipseed, executive director of the Kern County Taxpayers Association in central California.
“This is a perfect example of how something that’s done today can adversely affect the next generation and the generation after that.” — Dan McAllister, San Diego County treasurer and tax collector.
What District Officials Say
“We could have authorized more taxes, it would just have been breaking the promises we made to the community.” — Todd Gutschow, Poway Unified board member.
“We knew the voters wanted these projects, and we knew they wanted them sooner rather than later.” — John Collins, Poway Unified superintendent.
Assuming in 40 years the staggering sum of $1,000,000,000 will probably buy you a ham sandwich or two - it seems like a pretty good deal.
Hey, it’s the American way.......
Never ask what the total cost is...only ask how much per month is it.