Those are tax dollars at work paying $350,000 in interest - and working their way right into the bank accounts of the Imagine crooks. Dennis Bakke likes to rail against the "government-run monopoly" of public education, but the his operation is far less efficient than traditional public schools. Bakke, of course, prefers the privatized version of public schools, particularly when they are a potential profit source for his education empire.
Florida - a hotbed of education stupidity - still hasn't figured out how to regulate their charter schools and prevent financial shenanigans from damaging the education of children. Nothing in the above story is really groundbreaking for either Imagine or Florida. Back in 2005, Imagine-operated charters in the state were $8.3 million in debt. Some things never change - but they should.