Also serving the communities of De Luz, Rainbow, Camp Pendleton, Pala and Pauma

Re: BUSD to have $58 million bond on November ballot [Village News, 7/28/16]

The article on the proposed BUSD bond for construction/repair of the new high school and repair of facilities quotes the cost as $58 million. That is absolutely wrong! The actual cost is approximately $87.1 million.

That is the actual cost to be repaid on a $58 million debt for 25 years at 3 ½ percent. The school board and the Village News should be chastised for not bringing this up. Additionally, why should we taxpayers pay for repairs with a long term bond as opposed to payment with yearly operating expense money.

Where did the operating expense money go? Did it go for salaries? Paying salaries with expense money set up for other purposes should not be allowed. The school board must budget for their costs on an on-going basis. If current revenues from taxes are not sufficient then correct it now, with voter approval, not with money from a bond.

I recognize the principal of OPM (other people’s money) but the school board must treat the budget money as if it is theirs because it is! We live in a very high taxed state and this misinformation is not helping to correct the tax issue.

Harry Stitle

 

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