MISSION VIEJO : District Seeks Return of $66 Million in Fund
The Saddleback Valley Unified School District board has passed a resolution calling for the return of $66 million it had in the county’s collapsed investment pool.
The board voted this week to pass the resolution stating in part that the district should be reimbursed “in a full and in a timely manner.” District officials calculate that they have already lost $2.3 million in interest because of the county debacle.
Officials have sketched out different scenarios in the event they don’t get back all the district’s principal.
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