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RELIGION, CURRENT EVENTS, TECHNOLOGY Subscribe to the breaking newsWhat is RSS?
FRONT PAGE  |  8/30/2014
FRIDAY, OCT 19, 2012
Each $1 from bonds to cost schools $18
Rancho Cordova taxpayers eventually will pay $9.1 million to retire just $514,000 in capital appreciation bonds issued by the Folsom Cordova Unified School District – about $18 in payments for every $1 borrowed.

The bonds paid for school upgrades and construction in Folsom Cordova's Improvement District 4, the same area that is the focus of a $68 million bond measure on the ballot this November.

The $514,000 in capital appreciation bonds issued by Folsom Cordova Unified represent a small portion – 2 percent – of the $25 million in bonds issued for the Rancho Cordova area in December 2009. But they represent a significant portion – 20 percent – of the $42 million in interest that will eventually be paid on those bonds. ...


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