If I may ...It was good that O'Donnell did that. But let's remember that that word "bond" is another word for "debt" very similar to another word, "mortgage". Calvert is over $250 Million in debt "bonds", more was not better then, and still is not now.
you do realize that most school systems and governments in the modern world use bonds to fund infrastructure. It's not like they have $50M around for a capital project.
But before they sell the bonds they determine over how many years they will operate what ever capital improvement they are building, then allocate those operating costs, including the bond retirement to the budget for those years.