For what? Ostensibly, road repairs. Yeah, right. More like to lavish money on his union puppet-masters and artificially create the illusion of a burst of employment in a dying city.
Read all about it in David Zahniser's latest article.
Given how oblivious the voters of Los Angeles are, he will presumably get away with this. The money will be wasted, the roads will continue to crumble, but the debt will linger for decades.