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Developer lobby helping to promote $9 billion education bond
A $9 billion school-construction bond that voters will decide on in November 2016 will be promoted heavily by titans in the construction industry that stand to profit mightily if the measure passes. The stakes for builders are high; failure to
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Did use of school bonds for iPads deceive bond buyers?
When California voters passed Proposition 39 in 2000, they thought they were simply making it easier to pass school bonds for construction of facilities by lowering the approval threshold from two-thirds of the vote to 55 percent. But a provision
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GOP lawmaker: fund schools with high-speed rail bonds
A Republican lawmaker wants to turn money for California’s high-speed rail project into funding for schools. Assemblyman Scott Wilk, R-Santa Clarita, introduced Assembly Bill 6, which would cancel outstanding bond funds approved by Proposition 1A, a 2008 voter-approved initiative to fund the
Read MoreWill Assembly education chair heed own words on bond abuses?
June 29, 2013 By Chris Reed A bill that would prevent expedient, irresponsible school districts from issuing insane “capital appreciation bonds” that can’t be paid off early and that cost, over the long term, 10 to 20 times as much
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How to overfill prisons: Have SEC look at CA school districts
March 20, 2013 By Chris Reed The federal indictments this week of CalPERS’ former president and his alleged briber show that the federal government does occasionally notice the outrageous behavior of our state government. But what about the Securities and
Read MoreSchools chief who tolerates bond scams wants to float own bond
Dec. 5, 2012 By Chris Reed The use of 30-year school “construction” bonds to pay for routine maintenance and short-lived electronics like laptops is a huge, ongoing, but basically uncovered scandal in California. Since automatic annual pay raises for most
Read MoreWhat school bonds pay for: From San Diego to Burlingame, the crime is what’s legal
Sept. 24, 2012 By Chris Reed Dan Walters had a good column over the weekend about the staggering political expedience we’re seeing throughout California. But after spending many hours researching a $2.8 billion school bond being pushed by the San
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