Calif. may restrict school districts' borrowing

01/28/2013 | Los Angeles Times (tiered subscription model)

Lawmakers in California are considering legislation that would restrict the use of long-term bonds by school districts to pay for construction projects. Supporters say the bonds, which currently are capped at 40 years, can result in debt payments of as much as $20 for every $1 borrowed. Under the bill, capital appreciation bonds would be capped at 25 years and a repayment ratio of $4 for every $1 borrowed by a district.

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