A jarring study of the possible fallout looming for schools funded by a particular type of bond was published last week by the Los Angeles Times, and Livermore was not on the statewide list of affected districts.
Roughly 200 California school districts, including several in Alameda County, borrowed billions of dollars in recent years using "capital appreciation bonds," financing that postpones repayment for decades but may, in the end, call for districts to pay back 10 to 20 times the amount borrowed, the article says.
The L.A. Times' in-depth report included a county-by-county spreadsheet of school districts with the so-called "CAB" funding.
While the Livermore Valley Joint Unified School District was not listed, there were several from Alameda and Contra Costa counties, including Dublin, Hayward, San Leandro and Walnut Creek.
An August Voice of San Diego article, entitled "Where Borrowing $105 Million Will Cost $1 Billion: Poway Schools," started the outrage ball rolling with its hard-core look at one school district's future bond liabilities.
To read the Nov. 28 Times story, click here.
To view the Times' individual school district listings by county and CAB-related financials, click here.
The VOSD article is here.
