{"id":20078,"date":"2012-08-08T10:37:09","date_gmt":"2012-08-08T14:37:09","guid":{"rendered":"http:\/\/www.thedisciplinedinvestor.com\/blog\/?p=20078"},"modified":"2016-09-20T19:32:10","modified_gmt":"2016-09-20T23:32:10","slug":"what-are-they-smoking-at-poway-school-district","status":"publish","type":"post","link":"https:\/\/thedisciplinedinvestor.com\/blog\/2012\/08\/08\/what-are-they-smoking-at-poway-school-district\/","title":{"rendered":"What are They Smoking at Poway School District?"},"content":{"rendered":"<p>A California school district is shouldering $1 billion in interest on a $105 million bond in a deal intended to defer most of the payments for 35 to 40 years.<\/p>\n<blockquote><p>The Poway Unified School District structured its 2011 sale of capital-appreciation bonds to avoid debt service until 2033, with the largest sums &#8212; more than $300 million each &#8212; due in 2046 and in 2051, according to data <!--more-->compiled by Bloomberg.<\/p><\/blockquote>\n<p>So, what they are doing is deferring the payment for decades. This will be quite a burden on the taxpayer in the future.<\/p>\n<p>We are back to the Whimpy Diaries (Pay Tuesday for a Hamburger today)<\/p>\n<p><a href=\"http:\/\/www.thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2012\/08\/CA-School-Bonds.png\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-20099 aligncenter\" title=\"CA School Bonds\" src=\"https:\/\/thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2012\/08\/CA-School-Bonds-610x413-1.png\" alt=\"\" width=\"610\" height=\"413\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>http:\/\/www.sfgate.com\/business\/bloomberg\/article\/Bonds-for-105-Million-to-Cost-California-School-3768566.php#ixzz22tAEwNZ1 (we ran the numbers, it is a 6% bond, but they have to start paying massive sinking fund starting in 2047 &#8211; see attached)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A California school district is shouldering $1 billion in interest on a $105 million bond in a deal intended to defer most of the payments for 35 to 40 years. The Poway Unified School District structured its 2011 sale of capital-appreciation bonds to avoid debt service until 2033, with the largest sums &#8212; more than [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[12],"tags":[483],"class_list":["post-20078","post","type-post","status-publish","format-standard","hentry","category-markets","tag-markets","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"acf":[],"_links":{"self":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts\/20078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/comments?post=20078"}],"version-history":[{"count":0,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts\/20078\/revisions"}],"wp:attachment":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/media?parent=20078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/categories?post=20078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/tags?post=20078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}