How much high-interest bond debt have El Dorado County school districts issued?
Since 2007, school districts, community colleges and other government entities in California have issued $9 billion in high-interest debt that will cost taxpayers $36 billion to repay over the next 40 years.
In 2009 Napa Valley Unified took out a $22 million loan, by the time it's repaid, it will have cost $154 million (http://www.baycitizen.org/education/story/controversial-school-bonds-create-debt/)
The decision to issue this debt as capital appreciation bonds instead of traditional bonds typically happens after voters approve bond measures, so the public often has no knowledge of how much it will cost to repay them.
|Issuer||Amt borrowed||Interest pmts||$1 costs||Min. total debt|
|Gold Oak USD||$272,344||$1,277,656||$5.69||$1,550,000|
|Lake Tahoe USD||$13,887,196||$44,234,115||$4.19||$58,121,310|
|El Dorado USD||$9,969,904||$27,465,096||$3.75||$37,435,000|
|Lake Tahoe USD||$5,856,058||$13,133,942||$3.24||$18,990,000|
|El Dorado USD||$6,529,154||$9,055,846||$2.39||$15,585,000|
|Lake Tahoe USD||$3,731,934||$4,178,066||$2.12||$7,910,000|
Use this app to uncover how much high-interest debt school districts, community colleges and government agencies have issued. Each circle represents a public entity. The larger the circle, the greater the debt. The redder the circle, the higher the interest that entity will pay. Use the "Find an issuer" drop-down menu for more information about its capital appreciation bonds.
* Data used to power this app was provided by California Treasurer Bill Lockyer's office, excluding 22 issuers lacking complete data. Map locations are approximations.