You might call it “kicking the can down the road.” But one Philadelphia investment advisor went even further in describing California school districts, like the one in Poway, that are funding construction projects with high-interest bonds that don’t have to be paid off for a generation.
“It’s not so much kicking the can down the road as it is burying a drum of toxic waste in the back of the school,” Jonathan Fiebach, a partner at Grant Williams LP, a Philadelphia investment advisory firm, told Bloomberg News for a story this week. Bloomberg said 55 school districts in California are paying for construction projects with bonds that don’t mature for at least 25 years.











