California AB51 would allow the Inglewood Unified School District to receive up to $55 million in General Fund cashflow loans for emergency.
California AB51 would authorize the Inglewood Unified School District to request up to $55 million in General Fund cashflow loans for emergency operational purposes. The Inglewood Unified School District must repay a previous $29 million General Fund loan from the proceeds of the new loan. The Department of Finance would grant a waiver of interest on the loan if the school district meets specific conditions, including successful repayment of at least 10 years of the loan and meeting fiscal sustainability requirements.
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