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Many hospitals in California are old brick buildings with scanty seismic resistance. It would compound an earthquake disaster if all the hospitals were knocked out. To remedy this, California passed a law forcing seismic upgrades to hospitals, but didn't provide any money.
As we know, California is the home of the taxpayers revolt, and the municipalities have no money. Everything they get is by raising a 'bond', whatever that means. This election raised bonds to fix up the hospitals.
My feeling is that all this bond raising is an excuse to get heavily in debt, and we know what this means these days. When they raise a bond, they tack on some extra tax. Does this cover paying it off in a reasonable time, or do they just cover the interest. Aren't people getting a bit worried about all these bonds?
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