Dan Walters: Hangover from education bond orgy hits California

For decades, it’s been the Legislature’s practice to ask voters every few years to approve a statewide education bond issue, providing funds to expand and rehab local schools, community colleges and state universities.

In fact, voters have approved 21 of 24 state school bond issues since 1949, according to one history on the matter.

And since 1998, state bonds have paid for a third of the approximately $100 billion in bond money spent on local schools, with the remainder coming from local bond issues repaid from property taxes.

Read more here: http://www.sacbee.com/2012/10/05/4883436/dan-walters-hangover-from-bond.html#mi_rss=Dan%20Walters#storylink=cpy

via Dan Walters: Hangover from bond orgy hits California.

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