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This Sounds More Like A High Stakes Poker Game |
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Monday, 07 April 2008 |
 Five Wisconsin public school districts have made an investment gamble that could force taxpayers to finance multimillion-dollar bailouts--and Waukesha taxpayers may need to come up with and additional $13.3 million or risk default on $50.5 million in bonds.
Update: The latest borrow that the Waukesha School Board did was in January of 2008 (3 months ago) for $40 Million (passed on a 9-0 vote), following several other borrows less than two years ago. Some of the borrowed money was to pay off an earlier debt where the 'taxpayers' did not bear the responsibility of the borrowed amount. The board, since this trust was intially began in 2006, has changed the language putting the burden solely on the taxpayers.
Is there anyone out there that believes this would have passed had it gone to referendum?
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