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Practically Speaking

Kyle and her husband moved to Brookfield in 1986. She became active in local politics and started blogging in 2004. Her focus is primarily on local issues but often includes state and national topics, too. Kyle looks at things from the taxpayers' perspective in a creative, yet down to earth way, addressing them from a practical point of view.

This little piggy went to the bond market...this little Elmbrook piggy stayed home

Education, Elmbrook, Elmbrook 2008 Referendum, TAXES, THE ECONOMY

What if you went to the bond market and no one wanted to buy yours? What would you do? Well, not wanting to face that dilemma, the Elmbrook School district stayed home. They are "postponing $31 million worth of borrowing for construction [referendum] projects, citing an unfavorable bond market."

This is the second time they have put it off. Who can blame them? Investors aren't exactly champing at the bit, at the terms Elmbrook figured on, to buy up $31 million worth of debt. CNI's Amy Hetzner reported, Elmbrook again delays bond issue:

The district had delayed in October borrowing the second half of its $62.2 million high school renovation project, authorized by voters in a referendum last year. The district had planned to proceed on Tuesday to invite bids for a 20-year loan, Elmbrook Assistant Superintendent Robert Borch said.

But that doesn't appear like it will happen.

"We're concerned that we will have insufficient bidders and that those bidders ... will be at rates that will be unacceptable to what we have budgeted," Borch said.

The next opportunity for peddling our $31 million bond is Feb 10th. Will market conditions improve by then or will our little piggy still have none? (OK, half) If so, is it time to prioritize the referendum project the best we can within the $31 million we do have?

Stay tuned!

Please, comment content should relate to the subject of the post. Although I try to respond to many, do not interpret my lack of a response as agreement.

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Brookfield7, Fairly Conservative, Vicki Mckenna, Jay Weber, The Right View Wisconsin, Mark Levin, CNS News

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