FOXNews.com: Texas schools pass debt on to the next generation

FOXNews.com FOX News Network - We Report. You Decide. // via fulltextrssfeed.com

Texas schools pass debt on to the next generation Nov 6th 2013, 18:33 By Mark Lisheron Published November 06, 2013 The Leander Independent School District is awash in debt and feeling pretty good about itself. The district's $3.7 billion in projected debt is higher than all but Houston and Dallas, school districts with several times the number of students. Leander's debt per student, projected at more than $114,000, is by far the highest in Texas for comparably sized districts. In September, the Leander ISD school board approved $206 million more bond debt, a single issue that will cost district taxpayers $1.1 billion or five times more than the original cost if taken to full maturity. The district's current annual debt service of more than $61 million, which is about 20 percent of the annual budget, is expected to top $90 million a year within the next decade and $138 million in 35 years. Leander, a school district of about 35,000 students northwest of Austin, and a handful of other fast growing districts in the state have amassed billions of dollars of debt through the use of capital appreciation bonds. Click for more from Watchdog.org FOX NEWS FIRST NEWSLETTER Daily must-read stories from the biggest name in politics Today Virginia squeaker sends shivers through Dems

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions