FULLERTON / LA HABRA : 3 Governing Boards Demand Pool Funds
The Fullerton and La Habra city councils and the Fullerton Joint Union High School District have passed resolutions demanding the return of all the money they invested in the failed Orange County investment pool.
The resolutions demand that the Orange County Board of Supervisors immediately return 100% of the funds the cities and school district invested in the pool. Interest also is being demanded.
“When I was a small child living in Orange County, we were poor, but my daddy always taught me to pay all my debts,” La Habra City Manager Lee Risner said. “Your reputation for honesty and trustworthiness was dependent upon paying every cent of any debt you owed. . . . That was good advice for a young child, and it’s still good advice. The county’s elected officers should take it into serious consideration.”
The high school district had about $26 million in the pool, Fullerton had $22 million and La Habra had $8 million when the county went bankrupt. Officials of the three governing bodies said they expect to receive their money back in full.
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