Municipal Bond Turmoil: Some Positive Benefits
But in the meantime cities,counties and states are having a rough time raising affordable money for their projects. For example yesterday the Houston Independent School District had to withdraw its planned $ 385 million bond issue because of the extreme rise in cost. Maybe that's a good thing. There has long been the glaring fact that there is no meaningful connection between money spent and a quality education for youth. So now market forces in the bond maket will force local and state officials to discriminate more on how to use their limited options on what projects to pursue and fund. Do we want water and sewage infrasructure upgrades or more money thrown down the rathole of school bureaucracies?
Labels: city, county, general accounting standards, infrstructure, municipal bond market, school bureaucracy, sewage, state department, taxes, u s treasury, water