Think the Federal gov't won't bail CA out eventually...

[Jarhead247]

http://www.foxbusiness.com/investing/2012/08/08/california-school-districts-spend-1-billion-to-borrow-100-million/

[pugman]

Stock the 6 B's and let the chips fall where they may....

In the end, when the last printed Federal note says a Trillion Gazillion New Dollars...like it will matter

[Jonesee]

A bond that pays a ridiculously high rate, is not callable or payable early, and has no repayment for decades.

Frankly it might make a decent investment on a flyer just to have in the portfolio.

What you are betting is the school district will not file bankruptcy in those decades, or as they come due to avoid payment.

I don't know what the denominations are or the discounting on them, but it could have a place in a portfolio.

I looked for it and I couldn't find the bond on the market yet.