This is an example of why the voters should not approve massive multi-year bond issues:
The slide shows that EPISD has been selling bonds and putting the money into interest bearing accounts.
This is money that they don’t need at the moment but they sold them early to milk some interest money out of us. Once they sell the bonds we start having to service the debt (principal and interest).
They then park the money in an account and get a lesser interest rate then what we are having to pay on the bonds.
According to the slide they have generated 8.6 million dollars using this technique.
Other EPISD documents indicate that they intend to use the money to cover cost overruns.
If the voters decide to approve the almost half a billion dollars in bonds that the city is contemplating they should realize that even the city will need several years to spend the money.
The city could do precisely the same thing as EPISD.
We deserve better