AUSTIN (AP) — School districts in fast-growing areas of Texas are defending use of some capital appreciation bonds that allow for expansion and improvements now but push the high repayment costs decades down the road.
Critics are questioning the wisdom of burdening a future generation of taxpayers with the bill, the Austin American-Statesman reported Saturday. But officials with the districts contend it’s necessary because state-imposed limits block them from passing on even higher taxes to current taxpayers.