Letter to the Editor:
Today, February 15, 2011, the School Board is paying $700,000 to holders of the High School Bonds.
So, why pay bondholders today? The bonds were issued too early and the School Board promised to pay today.
Wait, it gets worse! An additional $4,400,000 of tax-free interest is being paid to bondholders too.
Superintendent Allison used to say, “Do the math!”
$700,000 + $4,400,000 equals $5,100,000 of squandered money because the bond was issued on October 21, 2009.
The next time you see a School Board Member, an Administrator, or a Finance Team Member thank them for saying:
“So long $5,100,000.”
That is enough money to buy 25 houses for $200,000 each.
John Ewing
