When the Schenectady City School District in upstate New York went to the voters to approve a $48.2 million bond issue in January 2007, they had a pretty good sales pitch: We won't have to raise your taxes to do this.

The passage of the bond issue by an overwhelming margin - 81% of voters were in favor - was a "win for everyone because we can get all this work done with no local impact on taxes," said Mike San Angelo, the district's assistant superintendent for business.

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