Trustees OK Plan for Pool Funds
A proposal designed to speed up the recovery of funds from the failed county investment pool has been endorsed by trustees of the Anaheim City School District.
The school district has already recovered 90% of the money it had invested in the pool, which collapsed in late 1994, prompting the county to file for bankruptcy protection.
The county still owes the school district $780,000, officials said.
Under the plan that school trustees approved this week, the county set as a high priority the repayment of half the remaining 10% owed to the district, or about $390,000. The final 5% would have a lower priority for repayment, said John Ettinger, the district’s director of fiscal services.
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