LOS ALAMITOS : Trustees Approve Plan to Recoup Investment
- Share via
School district officials have endorsed Option A to recover their money from Orange County’s failed investment fund.
After reviewing the three settlement proposals, trustees for Los Alamitos Unified School District voted unanimously Friday to accept the option, which would return about $10.9 million in cash and notes, plus IOUs for the rest of the $12.2 million that they had invested in the fund.
“It was the best option,” trustee Virginia Wilson said. “It meet the needs of our district in the most positive way.”
Business Manager Ron Murrey said the school district already has received about $3 million since January for emergency expenses.
By choosing Option A, the district has waived its right to sue the county, officials said.
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.
