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Broward to seek voter approval for $800 million school bond issue

@MrMikeVasquez

Broward’s school district will ask voters to approve an $800 million bond issue this fall — a referendum that will likely become a defining moment for the nation’s sixth-largest school system.

By unanimous vote, school board members on Tuesday began the voter referendum process by formally asking the state’s permission to put the issue on the November ballot. The state’s approval is expected to come quickly and easily.

It’s getting approval from county voters that will be the tricky part. The next six months will test Broward’s ability to community effectively and stay on-message — a task that historically has proven difficult for the district.

Schools Superintendent Robert Runcie is pitching the bond issue as an worthwhile investment — and one that pays dividends in a variety of ways.

“Everything that we do is linked to the quality of the schools in our community,” Runcie said. “Housing values, quality of life, the ability to attract businesses and families to our communities all rest on the quality of our schools, and our ability to invest and maintain them and provide our children with a world-class education.”

If the bond issue passes, Broward would receive a badly-needed infusion of cash for capital improvements and technology needs. Dozens of district schools are struggling with leaky roofs, for example, which creates mold risks.

More here.

Comments

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Hmmmm...

So, at a time when property values are increasing, Liberal Broward County wants to impose borrowed spending on its residents instead of prioritizing and paying cash.

I understand there are needs and those have gone years without being met... but just like every resident in the county, government must learn to live within its means... and it is apparent Broward has not learned that lesson... but then again, Broward's political makeup is not much different than Detroit.

Bill Thompson

Just as most major corporations are doing right now, Broward Schools wants to take advantage of historically low long-term interest rates to fund long term capital projects. As long as the district is not highly leveraged on its balance sheet, the rising property values should make it even easier to service the debt. The school district still must manage its operations in a fiscally prudent manner.

With such low rates, the federal government would be wise to go out on the yield curve and issue more longer term bonds as it proceeds with its bond auctions. At the same time, the feds need to address the problem of rising long term liabilities.

Hmmmm....

Bill, most major corporations are hoarding cash right now... and buying back shares... Not incurring additional debt, but go ahead and justify it any way you can to the sheeple down there... Detroit 2.0 will be fun to watch so close.

D

Shut the hell up thompson you loser. How dumb are you that you haven't figured out that no one cares to hear your whining about how poor you are and you need the loser democrats to give you more money you leach.

Bill Thompson

A RECORD $1.51 trillion of corporate bonds were sold in 2013 in the U.S.

Most major corporations sold long term bonds to lock in low long term rates and used the proceeds to buy back stock, raise dividends and for general corporate purposes.

Issuance of long term debt at these low rates is a valid way to fund long term capital projects as long as the balance sheet and statement of cash flows are managed prudently. You stated that property values in Broward are increasing; that is a fundamental difference between Broward and Detroit, along with the huge retiree liabilities that Detroit had that Broward doesn't.

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