Key points in the article:
"refinancing construction bonds cost taxpayers and additional $9.2 million in payments and interest."
"The $6.8 million was used to build facilities, but the review was unable to pinpoint which specific projects benefited."
If you watch the board meeting you will see other things being talked about including even more potential problems in refinancing of other loans and the assumption of 3,000 more housing units in Pleasanton will need to be built just to pay off the existing loan. They do not address what facility additions would be need to accommodate the students from 3,000 more housing units. Seems they are glad to take the money but are not planning on spending it on new things.