Bond Issues

Your June 21 article on the MTA and its debt problems furthered my growing angst about bond issues being negatively portrayed by the media and, subsequently, held in a negative light by the public. Most bond issues only receive press when they become troubled or land in default. This is unfortunate because the vast majority of municipal bonds are issued by entities that understand and are fully capable of repaying the debt they are incurring.

This debt is normally for projects that not only benefit the issuing entity but all of society as well. Schools, small businesses and sewer and water systems are frequently either built or repaired using proceeds from bond issues.

The public needs to understand how important well-conceived municipal debt is to our society and its infrastructure. Certain types of proposed bond issues need to be ratified by the electorate prior to their issuance. It would be unfortunate if bad press relating to ill-conceived debt, such as that issued by the MTA, affected the outcome of these elections.

JOHN T. DELERAY

Chino Hills