School District Seeks $100-Million Bailout
- Share via
From Times Wire Reports
The school board has approved a motion to ask the state for a $100-million loan to keep the district out of bankruptcy.
The loan would be in the form of a line of credit, which means the district could borrow up to that amount, but would not necessarily draw it all down.
The board also agreed Thursday to ask for a trustee to take over the finances of the district, but allow the superintendent and board to retain control of educational issues.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
