LAUSD Bond Will Cost You $14 Billion and Non-LAUSD Taxpayers Another $7 Billion
Here is an episode of Full Disclosure featuring David Hernandez and focusing on the massive school construction project of LA Unified and a coming mega-billion dollar bond measure promoted by Mayor Villargaigosa.
Two takeaways from the episode, one though the bond is promoted as a $7 billion measure, with interest the actual payback to investors will be $14 billion. Secondly, a little known state law requires all taxpayers in California to match any funds raised by the District. So if you live in Pasadena or Costa Mesa or Gilroy or even Eureka, you'll be ponying up $7 billion for Antonio Villaraigosa and School Board President Monica Garcia to dole out cash to their favorite politically connected contractors.
Two takeaways from the episode, one though the bond is promoted as a $7 billion measure, with interest the actual payback to investors will be $14 billion. Secondly, a little known state law requires all taxpayers in California to match any funds raised by the District. So if you live in Pasadena or Costa Mesa or Gilroy or even Eureka, you'll be ponying up $7 billion for Antonio Villaraigosa and School Board President Monica Garcia to dole out cash to their favorite politically connected contractors.
Labels: david hernandez, full disclosure, lausd $7 billion bond, mayor antonio villaraigosa, monica garcia
Posted by Michael Higby @ 8/09/2008 03:54:00 PM
2 Comments:
It just don't get no better than this!!!!
Se si puede!!!
What the general public needs to know about the outrageous waste of tax dollars going on in LAUSD right now. Hundreds of useless positions are created at the local schools, and many individuals, favored by school administrators are given all kinds of opportunities to "do nothing" and make a lot of money. Out of classroom people come to work late and leave early with no accountability whatsoever. Is that what you want to pay for. Vote No on this measure.
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