YORBA LINDA : School Board Says O.C. Owes Full Refund
Instead of taking a position on Measure R, the board of the Placentia-Yorba Linda Unified School District passed a resolution this week stating that Orange County has a moral obligation to refund the district 100% of the $84 million it had invested in the county’s failed investment pool.
The board passed the resolution in a 4 to 1 vote, with Trustee Cathy Ann Brooks dissenting. Brooks said she objected because no stand was taken on Measure R, the initiative that would raise the county’s sales tax by half a cent on the dollar to help the county recover from bankruptcy.
Karen Bass, a district spokeswoman, said at Tuesday’s meeting that 90% of the school district’s money most likely will have been repaid by today. The county is relying on Measure R, she said, to raise revenue for the remaining 10%.
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