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The world of public finance is so loopy it makes your head spin.   For example, Kern County won a state grant for $100 million to build a desperately needed new jail.   OK, that’s good, except it’s bad because Kern County would have to come up with $40 million we don’t have to match that grant and $20 million a year we also don’t have to staff and operate it. But wait, there’s more!   Since our state legislators are so criminally incompetent they can’t get their budget act together, that grant money (which would have come from bonds yet to be sold) is on ice. That’s bad, except it’s kind of good for Kern County supervisors because it means they won’t have to decide whether to sell local bonds to pay the match and they won’t have to rob Peter to pay Paul, so to speak, in order to fund new jail operations. Meanwhile, Lerdo is busting at the seams, the sheriff is having to knowingly violate a federal...
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