As an example, the Napa Valley Unified School District had two issuances of Build America Bonds. The district issued more than $21 million in 2009 and another $34 million in 2010. The financing helped contribute to various construction projects, including Memorial Stadium and American Canyon High School, said Wade Roach, assistant superintendent of Business Services. The school district’s projects were going forward with or without stimulus money — but by issuing the Build America Bonds, less burden was placed on local taxpayers, Roach said. A bond is a loan that must be repaid. Originally, the federal government offered to pay 35 percent of the interest on these bonds. Due to the sequester, which began on March 1, the government reduced its subsidy to about 32 percent this year, Schulze said.
Posted on: Sat, 28 Sep 2013 05:50:37 +0000
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