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School debt soars on Long Island

Published: May 12, 2011 10:49 PM
By TED PHILLIPS  ted.phillips@newsday.com

Ruth Smith, a Freeport teacher, joined thousands at

Photo credit: Newsday/Danielle Finkelstein | Ruth Smith, a Freeport teacher, joined thousands at Hofstra University to rally against statewide education cuts. Close to 2,500 parents, teachers, students and supporters of public schools rallied at Hofstra University. (March 24, 2011)

Long Island's school districts are saddled with $3.7 billion in long-term debt, the price of years of borrowing for construction and improvements ranging from solar panels and upgraded ventilation systems to science labs, refurbished auditoriums and updated athletic fields.

While the state picks up part of the tab -- in some cases, the majority of it -- property owners, too, are on the hook...

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