You Can't Get There From Here

No math, I promise.

The BOE's Lay Facilities Committe is trying to sell a two-phase bond levy and remediation plan for the schools.

The LFC says there *must* be a 2013 bond levy to pay for Phase I, because the district's borrowing capacity will be lower in 2014 than in 2013. Something to do with the depressed property values finally catching up with us.

So, sometime in 2014, the school district's indebtedness will exceed their credit limit, but what's done is done.

Then, in a few short years, they say we'll have the Phase II bond levy.

But how can the school district borrow *more* down the road, when their debt will already be *higher* than their credit limit?

I'm telling you, none of this makes a lick of sense.