Reply to School bonds on November ballot

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Reply to "School bonds on November ballot"

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[quote=Anonymous][quote=Anonymous]To those who say that our bonds are bloated, remember that Fairfax County is one of only a couple dozen localities in the country with a AAA bond rating from all three agencies.

Just about all local governments use bonds to finance key capital projects like schools. That's the best source of revenue for those kinds of long-term projects without raising taxes. [b] Fairfax County's interest rate on bonds is exceptionally low compared to other localities. [/b] Bond debt payments (both principal and interest) is only 10% of the general fund.
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I think you’re conflating two different things - (1) whether the county can service the debt; and (2) whether bond proceeds are being spent efficiently and effectively on capital projects.

For example, you don’t have to be worried that the county is going to default on a bond obligation to think it’s crazy that FCPS issued bonds to expand West Potomac to 3000 seats when Mount Vernon is under capacity or to fund a future ES in Dunn Loring that no one asked for and isn’t needed at that location. [/quote]

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