At the special PUSD Board meeting this afternoon, a financial advisor outlined his proposal for potentially restructuring a small portion of our districts catastrophic $1B capital appreciation bond (CAB). The proposal was complicated and will require some thorough independent vetting and analysis before I feel comfortable taking a position. That said, it does appear to have the potential to make a really bad situation a little less bad. Although Im glad to see the Board finally acknowledging the problem, I hope they will reject the proposed 2 week timeframe for finalizing this deal and, instead, show a little bit of caution that was missing when they approved the initial CAB. The Board will discuss the proposal again at their Aug. 19 meeting. Ill post an update then.
Posted on: Wed, 13 Aug 2014 03:36:14 +0000
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