Typical government school buffoonery.

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 the West Contra Costa Schools' case, that $2.5 million bond will cost the district a whopping $34 million to repay...Ramsey says it was a good deal, because his district is getting a brand-new $25 million school. "You'd take that any day," he says. "Why would you leave $25 million on the table? You would never leave $25 million on the table..." Perhaps the best example of the CAB issue is suburban San Diego's Poway Unified School District, which borrowed a little more than $100 million. But "debt service will be almost $1 billion," Lockyer says. "So, over nine times amount of the borrowing. There are worse ones, but that's pretty bad..." And he's right. In some cases, districts are on the hook to pay back anywhere between 10 and even 20 times the amount they borrowed.
Of course, one should note that each and every time one sees 'desperately needed money' one should keep in mind that is should be preceded with 'After blowing through billions on government so-called teachers through orgiastic salary expenses, pension feasting and benefits crackwhoring...' In a way, however, the government Lenins are not to blame as they are just spending OPM and have been empowered to be reckless by those that crap out spawn and yet are unwilling and unable to pay full freight for their destructive uterine toxic waste dumping.