The Los Angeles Unified School District, the nation’s largest outside New York City, owes so much for retiree health care that paying off its debt would cost $17,500 for each student -- and there are 640,000 of them.
To show how badly public pensions have been short-changed, Securities and Exchange Commissioner Daniel Gallagher mentioned a place where every household owes $88,000 for promises the government made to retirees.
SolarCity Corp., the developer of rooftop solar systems whose chairman is billionaire Elon Musk, is installing panels with 7.4 megawatts of capacity at 26 schools in the Los Angeles Unified School District.
The Los Angeles Unified School District, the second-largest U.S. school system after New York City, plans to sell $290.2 million in Qualified School Construction Bonds to tap a bigger federal subsidy than offered by the Build America program.
The Los Angeles Unified School District, which is facing a bigger deficit than the city of Los Angeles, led issuers selling $445 million of Qualified School Construction Bonds this week, the most since the program began last year.