Everyone wants new schools but then again everyone likes sliced bread. The trick is how you cut it and who gets a piece. So lets see here, we are going to bond 92 Million and 39 of which is non-reimbursable and we must bare it plus the interest on the 53.
Now if we are set to open in 2016, then that ought to be a pretty quick turn around on that loan since the go is going to be real short. That means we will have 80% of it paid back by then right? I know I'm not too good in Math but I don't think if 53 Million dollars is 80% then 39 Million doesn't seem like 20%.
Oh that's right, not all costs are reimbursable. Still though we should expect to pay and in the long run it's worth it but it's the running around I am suspicious of and just where does the deception end?
I would like to see a little more details about the terms of this bond. How long is it for? What about a commitment to pay the money that the MSBA gives us for their share immediately on the principal of the loan (bond) thereby reducing the amount we pay in interest and our obligation.
So by 2016 we should have less than the 39 million outstanding. Let's see a proposed timetable. The trouble with putting things down on paper, it's easy to see when you change.
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