- Posted July 24, 2015
- Tweet This | Share on Facebook
Board OKs $10 million emergency loan for Pontiac Schools
PONTIAC (AP) - A second $10 million emergency loan has been approved for Pontiac's public schools.
The Detroit News reports from a Treasury department memo that about $2.4 million of the loan approved Wednesday will allow the 4,300-student district to pay employees. The rest will be used to pay "critical vendors."
The Local Emergency Financial Assistance Loan Board also approved a $10 million loan in May 2014 for the district. The $20 million is the most the district can borrow in emergency loans.
Pontiac Schools are under state oversight. District Superintendent Kelley Williams says Pontiac Schools' operating deficit is down to about $36 million. It was more than $50 million in 2013.
Benton Harbor Area Schools also was approved Wednesday for a $1.4 million loan.
Published: Fri, Jul 24, 2015
headlines Oakland County
- Judge’s memorial unveiled
- Bring ’em to Ingham? Not necessarily, Supreme Court rules of lawsuits state files
- Nessel secures preliminary injunction protecting USDA funding
- Final judgment secured in lawsuit challenging administration’s $100k tax for H-1B visas
- Woman sentenced for distributing child porn, prosecutor disappointed with sentence imposed
headlines National
- Bill Kurtis’ memoir tells how law school trained him for covering trials
- ACLU and BigLaw firm use ‘Orange is the New Black’ in hashtag effort to promote NY jail reform
- Justice Barrett’s home targeted in attempted swatting call
- Texting-and-driving charges dropped against woman without right hand
- Fender warns guitar makers to stop producing Stratocaster look-a-likes
- General counsel compensation climbs, aligned with equity and company scale
