Some Texas school districts use pay-later bonds

School districts in population-booming areas of Texas are defending use of some capital appreciation bonds that allow expansion and improvements now. The interest on the bonds could mean steeply higher costs of paying them off decades down the road.   Critics are questioning the wisdom of burdening a future generation of taxpayers with the bill. But officials with the districts contend state-imposed limits block them from passing on even higher taxes to current taxpayers.  About 10 percent of Texas districts are using capital appreciation bonds and do so because they have no other choice.    The practice may be short-lived. A bill to eliminate the option has cleared a state Senate committee.

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