School project approvals - Los Angeles Times
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This story reported: “The project will be paid for by certificates of participation -- in essence bonds paid off through the operating budget. Unlike other bonds, they don’t require voter
approval.”
The entire Belmont Learning Complex/Vista Hermosa project has been funded by developer fees and certificates of participation, and as correctly noted, neither “require voter approval.”
They also don’t require independent oversight by or reporting to the Bond Oversight Committee.
This was a conscious decision made by a previous Board of Education and quietly endorsed by every board since.
The writer is vice chair of the L.A. Unified School District School Construction Bond Citizens’ Oversight Committee.