Cart 0 $0.00
IRE favicon

School district pays for risky bond swaps

The Morning Call in Allentown, Pa., published “Risky Business,” a four-part series on the Bethlehem Area School District’s costly use of variable-rate bonds and swaps to finance hundreds of millions of dollars in school renovations. "While the board approved swap after swap on the advice of the administration and former financial consultant Les Bear, no one in the district apparently was keeping track of the deals' costs that tied 75 percent of the district's total construction debt -- $278 million -- into risky variable interest rates."

109 Lee Hills Hall, Missouri School of Journalism   |   221 S. Eighth St., Columbia, MO 65201   |   573-882-2042   |   |   Privacy Policy
crossmenu linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram
My cart
Your cart is empty.

Looks like you haven't made a choice yet.