Godlike Productions - Conspiracy Forum
Users Online Now: 1,662 (Who's On?)Visitors Today: 289,679
Pageviews Today: 426,165Threads Today: 122Posts Today: 2,471
03:27 AM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

CA School District Owes $1 Billion On $100 Million Loan

 
waht
Offer Upgrade

User ID: 24118278
United States
12/09/2012 11:11 AM
Report Abusive Post
Report Copyright Violation
CA School District Owes $1 Billion On $100 Million Loan
More than 200 school districts across California are taking a second look at the high price of the debt they've taken on using risky financial arrangements. Collectively, the districts have borrowed billions in loans that defer payments for years — leaving many districts owing far more than they borrowed.

In 2010, officials at the West Contra Costa School District, just east of San Francisco, were in a bind. The district needed $2.5 million to help secure a federally subsidized $25 million loan to build a badly needed elementary school.

Charles Ramsey, president of the school board, says he needed that $2.5 million upfront, but the district didn't have it.

[link to www.npr.org]