BILL NUMBER: SB 477	AMENDED
	BILL TEXT

	AMENDED IN ASSEMBLY  JUNE 11, 2012
	AMENDED IN ASSEMBLY  JULY 13, 2011
	AMENDED IN ASSEMBLY  JUNE 22, 2011
	AMENDED IN SENATE  APRIL 26, 2011
	AMENDED IN SENATE  APRIL 13, 2011

INTRODUCED BY   Senator Wright

                        FEBRUARY 17, 2011

   An act  relating to the Inglewood Unified School District,
making an appropriation therefor, and declaring the urgency thereof,
to take effect immediately.   to add Article 9
(commencing with Section 35580) to Chapter 3 of Part 21 of Division 3
of Title 2 of the Education Code, relating to school district
reorganization. 



	LEGISLATIVE COUNSEL'S DIGEST


   SB 477, as amended, Wright.  Inglewood Unified School
District: emergency loan.   School district  
reorganization: bonded indebtedness: Wiseburn Unified School
District: Centinela Valley Union High School District.  
   (1) Existing law specifies the manner in which bonded indebtedness
of a school district on general obligation bonds is reallocated
among school districts when school districts are reorganized. 

   This bill, notwithstanding the provisions above, would specify the
manner in which the liability for taxation, the bonding capacity,
the permitted use of existing bond proceeds, and the allocation of
authorized but unsold bonds of the Wiseburn Unified School District
and the Centinela Valley Union High School District would be
determined upon the reorganization of the Wiseburn School District
and the Centinela Valley Union High School District by the formation
of the Wiseburn Unified School District and the termination of the
Wiseburn School District. The bill also would authorize a joint
powers authority created by the Wiseburn School District and the
Centinela Valley Union High School District or the Wiseburn Unified
School District and the Centinela Valley Union High School District
to issue bonds pursuant to laws governing the issuance of school
facilities construction bonds by school districts. To the extent that
these actions would cause local taxing authorities to perform
additional duties, the bill would impose a state-mandated local
program.  
   (2) Existing law requires plans and recommendations for the
reorganization of school districts to include a computation of the
base revenue limit per unit of average daily attendance.  
   This bill would set the base revenue limit per unit of average
daily attendance for the Wiseburn Unified School District at
$6,600.26 as increased by the statutory cost-of-living adjustment for
each subsequent fiscal year.  
   (3) Existing law sets forth the procedures for the reorganization
of school districts.  
   This bill would provide that no further action by various local
authorities, including the governing board of the Wiseburn School
District or the governing board or voters of the Centinela Valley
Union High School District, is necessary to approve the
reorganization plan for the Wiseburn Unified School District and
allow the Los Angeles County Superintendent of Schools to call an
election, except for the approval by the State Board of Education of
the reorganization plans.  
   The bill would authorize a pupil residing in the Wiseburn Unified
School District who is eligible to attend any of grades 9 to 12,
inclusive, to attend the Centinela Valley Union High School District
without an interdistrict attendance agreement if the Centinela Valley
Union High School District accepts that pupil for attendance. 

   (4) This bill would make legislative findings and declarations as
to the necessity of a special statute for the Centinela Valley Union
High School District and the Wiseburn School District.  
   (5) The California Constitution requires the state to reimburse
local agencies and school districts for certain costs mandated by the
state. Statutory provisions establish procedures for making that
reimbursement.  
   This bill would provide that, if the Commission on State Mandates
determines that the bill contains costs mandated by the state,
reimbursement for those costs shall be made pursuant to these
statutory provisions.  
   (1) Existing law provides for emergency apportionments to school
districts subject to specified conditions including, in certain
circumstances, the repayment of an emergency loan over a period of no
more than 10 years and the appointment by the Superintendent of
Public Instruction of an administrator who would exercise the powers
and responsibilities of the governing board of the school district.
 
   This bill would express the intent of the Legislature to provide
emergency apportionment assistance to the Inglewood Unified School
District, and require the Superintendent to assume all the rights,
duties, and powers of the governing board of the Inglewood Unified
School District and to appoint, in consultation with the Los Angeles
County Superintendent of Schools, a state administrator to act on
behalf of the Superintendent in exercising the Superintendent's
authority over the school district.  
   The bill would continue the authority of the Superintendent and
the state administrator over the school district until certain
enumerated conditions are met, including the completion of assessment
and improvement plans for the school district.  
   The bill would require the County Office Fiscal Crisis and
Management Assistance Team (FCMAT) to provide specified assistance
relating to the development of a multiyear financial recovery plan,
the preparation of budget reports, and the recommendation of
activities that could enhance revenue or achieve cost savings.
 
   The bill would require the school district to bear 100% of the
costs associated with implementing the provisions of the bill
relating to the administration of the emergency apportionment
assistance and the activities of the FCMAT, thereby imposing a
state-mandated local program.  
   The bill would appropriate $12,900,000 from the General Fund to
the Superintendent for apportionment as an emergency loan to the
Inglewood Unified School District, and would specify procedures for
repayment of the loan. The bill would authorize the school district
to sell property owned by the school district from June 1, 2011, to
June 30, 2014, inclusive, and use the proceeds from the sale to
reduce or retire the emergency loan, and would prohibit the school
district from being eligible for financial hardship assistance under
the Leroy F. Greene School Facilities Act of 1998 from June 1, 2011,
to June 30, 2016, inclusive.  
   (2) This bill would make a legislative finding and declaration
that the unique circumstances of the Inglewood Unified School
District warrant the enactment of a special statute. 

   (3) The California Constitution requires the state to reimburse
local agencies and school districts for certain costs mandated by the
state. Statutory provisions establish procedures for making that
reimbursement.  
   This bill would provide that no reimbursement is required by this
act for a specified reason.  
   (4) This bill would declare that it is to take effect immediately
as an urgency statute. 
   Vote:  2/3  majority  . Appropriation:
 yes   no  . Fiscal committee: yes.
State-mandated local program: yes.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

   SECTION 1.    Article 9 (commencing with Section
35580) is added to Chapter 3 of Part 21 of   Division 3 of
Title 2 of the   Education Code   , to read: 


      Article 9.  Formation of the Wiseburn Unified School District,
Bonded Indebtedness, and Revenue Limit


   35580.  Notwithstanding Article 8 (commencing with Section 35570),
this article shall apply to the reorganization of the Wiseburn
School District and the Centinela Valley Union High School District
by the formation of the Wiseburn Unified School District and the
termination of the Wiseburn School District. This article determines
the liability for taxation, the bonding capacity, the permitted use
of existing bond proceeds, and the allocation of authorized but
unsold bonds of the Wiseburn Unified School District and the
Centinela Valley Union High School District, and applies to the
activities of any joint powers authority created by the Wiseburn
School District and the Centinela Valley Union High School District
or the Wiseburn Unified School District and the Centinela Valley
Union High School District.
   35581.  (a) Any tax for repayment of bonds of the Wiseburn School
District shall be levied on all taxable property of the Wiseburn
Unified School District.
   (b) Any tax for repayment of bonds issued by the Wiseburn Unified
School District, including bonds authorized by the Wiseburn School
District, shall be levied on all taxable property of the Wiseburn
Unified School District.
   (c) Commencing with the fiscal year that begins on the effective
date of the reorganization of the Wiseburn School District by the
formation of the Wiseburn Unified School District, any tax for
repayment of voter approved bonds of the Centinela Valley Union High
School District approved before January 1, 2012, shall be levied on
both of the following:
   (1) All taxable property located within the Centinela Valley Union
High School District as the district exists following the effective
date of reorganization pursuant to this section.
   (2) All taxable property located within the Wiseburn Unified
School District that was formerly part of the territory of the
Centinela Valley Union High School District.
   (d) In recognition of the authority for Centinela Valley Union
High School District to continue levying property taxes on taxable
property located within the Wiseburn Unified School District for
repayment of bonds approved by voters before January 1, 2012,
beginning on the effective date of reorganization of the Wiseburn
School District by the formation of the Wiseburn Unified School
District, the Centinela Valley Union High School District shall
transfer to the Wiseburn Unified School District an amount equal to
four million dollars ($4,000,000) from the proceeds of the sale of
bonds approved by voters on November 2, 2010, and issued after
January 1, 2012. The transfer shall be made from the proceeds of the
sale of the first series of bonds issued after January 1, 2012,
unless the Centinela Valley Union High School District elects to
allocate the transfers to more than one series of bonds in which case
the transfers shall aggregate to the amount of four million dollars
($4,000,000). Proceeds transferred pursuant to this subdivision shall
be expended by the Wiseburn Unified School District for purposes
consistent with the original voter authorization for the bonds.
   35582.  (a) The bonding limit applicable to the Wiseburn Unified
School District shall be equal to the sum of both of the following:
   (1) The limit specified in Section 15106 as applied to all taxable
real property within the Wiseburn Unified School District zoned for
residential purposes of any classification by reference to the
general plan of the County of Los Angeles or any other zoning
ordinance applicable to the territory.
   (2) The limit specified in Section 15102 as applied to all taxable
property within the territory of the Wiseburn Unified School
District other than real property zoned for residential purposes of
any classification by reference to the general plan of the County of
Los Angeles or any other zoning ordinance applicable to the
territory.
   (b) Notwithstanding Section 35543 or any other law, the bonding
limit applicable to the Centinela Valley Union High School District
shall be equal to the sum of both of the following:
   (1) The limit specified in Section 15102 as applied to all taxable
property within the Centinela Valley Union High School District.
   (2) The limit specified in Section 15102 as applied to all taxable
property within the territory of the Wiseburn Unified School
District other than real property zoned for residential purposes of
any classification by reference to the general plan of the County of
Los Angeles or any other zoning ordinance applicable to the
territory.
   (c) The bonding limit applicable to bonds payable from ad valorem
property taxes of a joint powers authority created by the Wiseburn
School District and the Centinela Valley Union High School District
or the two surviving districts, acting together pursuant to the Joint
Exercise of Powers Act (Chapter 5 (commencing with Section 6500) of
Division 7 of Title 1 of the Government Code), shall be equal to the
sum of the respective bonding limits applicable to the members of
such authority.
   (d) If a joint powers authority created by the Wiseburn School
District and the Centinela Valley Union High School District, or the
two surviving districts, acting together pursuant to the Joint
Exercise of Powers Act (Chapter 5 (commencing with Section 6500) of
Division 7 of Title 1 of the Government Code), maintains outstanding
bonded indebtedness issued pursuant to Chapter 1 (commencing with
Section 15100), Chapter 1.5 (commencing with Section 15264), or
Chapter 2 (commencing with Section 15300), of Part 10 of Division 1
of Title 1, the bonded indebtedness shall be allocated to the
Wiseburn Unified School District and the Centinela Valley Union High
School District, respectively, for purposes of the calculation of
debt capacity pursuant to the bonding limits set forth in
subdivisions (a) and (b), in proportionate amounts calculated based
on the assessed value of taxable property within each respective
school district securing repayment of the bonds.
   (e) This section does not prohibit the Wiseburn Unified School
District or the Centinela Valley Union High School District from
seeking a waiver pursuant to Article 3 (commencing with Section
33050) of Chapter 1 of Part 20 of Division 2 or any other similar law
of the bonding limits of this section or any other applicable
statutory bonding limit.
   35583.  (a) For purposes of paragraph (1) of subdivision (a) of
Section 35735.1, the blended base revenue limit per unit of average
daily attendance for the Wiseburn Unified School District shall be
six thousand six hundred dollars and twenty-six cents ($6,600.26) and
increased by the cost-of-living adjustment provided in Section
42238.1 for each subsequent fiscal year.
   (b) The Wiseburn Unified School District shall be deemed to be
eligible for the adjustments provided in subparagraph (B) of
paragraph (2) of subdivision (a) of Section 35735.1 and subparagraph
(B) of paragraph (3) of subdivision (a) of Section 35735.1 and all
other adjustments in Section 35735.1 as if the Centinela Valley Union
High School District average daily attendance will make up 25
percent of the average daily attendance in the resulting Wiseburn
Unified School District.
   35584.  A pupil residing in the Wiseburn Unified School District
who is eligible to attend any of grades 9 to 12, inclusive, may
attend the Centinela Valley Union High School District without an
interdistrict attendance agreement if the Centinela Valley Union High
School District accepts that pupil for attendance.
   35585.  Notwithstanding Chapter 3 (commencing with Section 35500),
no further action of the Los Angeles County Committee on School
District Organization, the Board of Education of the County of Los
Angeles, the Los Angeles County Superintendent of Schools, the Board
of Supervisors of the County of Los Angeles, the Local Agency
Formation Commission for the County of Los Angeles, the governing
board of the Wiseburn School District, the governing board or voters
of the Centinela Valley Union High School District, or the governing
board of any other governmental body, except the state board pursuant
to Section 35755, shall be necessary to approve the reorganization
plan for the Wiseburn Unified School District and allow the Los
Angeles County Superintendent of Schools to call an election pursuant
to Section 35756.
   35586.  Notwithstanding any other law, the election to approve the
reorganization plan for the Wiseburn Unified School District shall
be conducted within the territory of the Wiseburn School District,
and shall be approved upon a favorable vote of a majority of all
votes cast on the reorganization proposal.
   35587.  The governing board of a joint powers authority formed by
the Wiseburn School District and the Centinela Valley Union High
School District or the two surviving school districts, acting
together pursuant to the Joint Exercise of Powers Act (Chapter 5
(commencing with Section 6500) of Division 7 of Title 1 of the
Government Code), may proceed pursuant to Chapter 1 (commencing with
Section 15100), Chapter 1.5 (commencing with Section 15264), or
Chapter 2 (commencing with Section 15300), of Part 10 of Division 1
of Title 1 on behalf of the joint powers authority that is created by
and under the exclusive authority of its member school districts.

   SEC. 2.    The Legislature finds and declares that a
special law is necessary and that a general law cannot be made
applicable within the meaning of Section 16 of Article IV of the
California Constitution because of the unique nature of the
reorganization of school districts involving the Centinela Valley
Union High School District, the Wiseburn School District, and
equitable access to the commercial and industrial assessed valuation
of property in those school districts. 
   SEC. 3.    If the Commission on State Mandates
determines that this act contains costs mandated by the state,
reimbursement to local agencies and school districts for those costs
shall be made pursuant to Part 7 (commencing with Section 17500) of
Division 4 of Title 2 of the Government Code.  
  SECTION 1.    It is the intent of the Legislature
to provide emergency appropriation assistance to the Inglewood
Unified School District, and invoke the provisions of Article 2
(commencing with Section 41320) of, and Article 2.5 (commencing with
Section 41325) of, Chapter 3 of Part 24 of Division 3 of Title 2 of
the Education Code, except as otherwise provided in this act, in
order to restore the school district to fiscal solvency. 

  SEC. 2.    As provided in subdivision (b) of
Section 41326 of the Education Code, the Superintendent of Public
Instruction shall assume all legal rights, duties, and powers of the
governing board of the Inglewood Unified School District, and shall
appoint a state administrator, in consultation with the county
superintendent of schools, to act on his or her behalf in carrying
out the requirements of Article 2 (commencing with Section 41320) of,
and Article 2.5 (commencing with Section 41325) of, Chapter 3 of
Part 24 of Division 3 of Title 2 of the Education Code.
Notwithstanding subdivision (e) of Section 41326 of the Education
Code, the authority of the Superintendent of Public Instruction and
the state administrator shall continue until all of the following
occur:
   (a) (1) At any time after one complete fiscal year has elapsed
following the school district's acceptance of a loan as described in
subdivision (a) of Section 41326 of the Education Code, the state
administrator determines, and so notifies the Superintendent of
Public Instruction and the county superintendent of schools, that
future compliance by the school district with the recovery plans
approved pursuant to paragraph (2) is probable.
   (2) The Superintendent of Public Instruction may return power to
the governing board of the school district for any area listed in
subdivision (a) of Section 41327.1 of the Education Code, if
performance under the recovery plan for that area has been
demonstrated to the satisfaction of the Superintendent of Public
Instruction.
   (b) The Superintendent of Public Instruction has approved all of
the recovery plans referred to in subdivision (a) of Section 41327 of
the Education Code, and the County Office Fiscal Crisis and
Management Assistance Team completes the improvement plans specified
in Section 41327.1 of the Education Code and has completed a minimum
of two reports identifying the school district's progress in
implementing the improvement plans.
   (c) The state administrator certifies that all necessary
collective bargaining agreements have been negotiated and ratified,
and that the agreements are consistent with the terms of the recovery
plans.
   (d) The school district has completed all reports required by the
Superintendent of Public Instruction and the state administrator.
   (e) The state administrator certifies that the members of the
school board and district personnel, as appropriate, have
successfully completed the training specified in subdivision (b) of
Section 6 of this act.
   (f) The Superintendent of Public Instruction determines that
future compliance by the school district with the recovery plans
approved pursuant to subdivision (b) is probable.  
  SEC. 3.    In addition to the implementation of
subdivision (b) of Section 41325 of the Education Code, it is the
intent of the Legislature that the Superintendent of Public
Instruction, operating through the appointed state administrator, do
all of the following:
   (a) Work with the staff and governing board of the Inglewood
Unified School District to identify the procedures and programs that
the school district will implement during the 2010-11 school year and
future school years that do all of the following:
   (1) Significantly raise pupil achievement.
   (2) Improve pupil attendance.
   (3) Lower pupil dropout rate.
   (4) Increase parental involvement.
   (5) Attract, retain, and train a quality teaching staff.
   (6) Manage fiscal expenditures in a manner that is consistent with
the current and projected revenues of the school district.
   (b) Analyze the identified procedures and programs and, where
applicable and appropriate, protect, maintain, and expand them as the
budget of the school district allows. The state administrator shall
report any findings applicable to this section to the Superintendent
of Public Instruction and the education committees of the
Legislature.
   (c) To the extent allowed by school district finances, maintain,
under the revised program, core educational reforms that will lead to
districtwide improvement of academic achievement, including, but not
necessarily limited to, educational reforms targeting
underperforming and program improvement schools and other reforms
that have demonstrated measurable success.  
  SEC. 4.   (a) The County Office Fiscal Crisis and
Management Assistance Team (FCMAT), with concurrence from the
Superintendent of Public Instruction, shall do all of the following:
   (1) Provide assistance to the state administrator in the
development of the first annual multiyear financial recovery plan
required under paragraph (2) of subdivision (a) of Section 41327 of
the Education Code.
   (2) Provide assistance to the state administrator in the
development of the adopted budget and interim reports.
   (3) Recommend to the Superintendent of Public Instruction any
studies or activities that should be undertaken by the state
administrator to enhance revenue or achieve cost savings.
   (4) Provide any other assistance as described in Section 42127.8
of the Education Code.
   (b) The Inglewood Unified School District shall bear 100 percent
of all costs associated with implementing Article 2.5 (commencing
with Section 41325) of Chapter 3 of Part 24 of Division 3 of Title 2
of the Education Code, including the activities of the FCMAT. The
FCMAT's assistance under this section shall continue until the school
district is certified as positive pursuant to the definition in
paragraph (1) of subdivision (a) of Section 42131 of the Education
Code, or until all legal rights, duties, and powers are returned to
the governing board of the school district, whichever comes first.
 
  SEC. 5.    For the purposes of Article 2
(commencing with Section 41320) of, and Article 2.5 (commencing with
Section 41325) of, Chapter 3 of Part 24 of Division 3 of Title 2 of
the Education Code, the administrator is a public school employer
within the meaning of the Educational Employment Relations Act
(Chapter 10.7 (commencing with Section 3540) of Division 4 of Title 1
of the Government Code).  
  SEC. 6.    (a) The Superintendent of Public
Instruction may consider the comprehensive assessment conducted by
the County Office Fiscal Crisis and Management Assistance Team
(FCMAT) pursuant to Section 41327.1 of the Education Code to meet the
requirements for the financial management review and recovery plan
identified in paragraph (1) of subdivision (a) of Section 41327.1 of
the Education Code.
   (b) The improvement plan for personnel management specified in
paragraph (3) of subdivision (a) of Section 41327.1 of the Education
Code shall include, but not necessarily be limited to, the following
training:
   (1) Training for members of the governing board of the Inglewood
Unified School District in the subjects about which members of the
governing board need to have knowledge to effectively discharge their
duties as school board members, with specific training in the
fiduciary responsibilities of a governing board member and in the
financial management practices necessary for governing board members
to effectively discharge their duty to oversee and monitor the
budget, accounting practices, revenues, and expenditures of the
school district. At a minimum, each school board member shall
participate in the Masters In Governance training provided by the
California School Boards Association. The cost for this training
shall be borne by the school district.
   (2) Training for all personnel with management, policymaking, and
advisory responsibilities who report or would report directly to the
state administrator, to ensure they have the knowledge and skills to
effectively administer their areas of responsibility consistent with
sound fiscal practices and the budgetary requirements of the school
district.
   (c) Notwithstanding the timelines in subdivision (d) of Section
41327.1 of the Education Code, after the first written status report,
FCMAT shall file subsequent reports annually thereafter as
determined by the Superintendent of Public Instruction. 

  SEC. 7.    (a) The sum of twelve million nine
hundred thousand dollars ($12,900,000) is hereby appropriated from
the General Fund to the Superintendent of Public Instruction for
apportionment to the Inglewood Unified School District for the
purpose of an emergency loan. In order to qualify for the loan, the
school district shall comply with Article 2 (commencing with Section
41320) of, and Article 2.5 (commencing with Section 41325) of,
Chapter 3 of Part 24 of Division 3 of Title 2 of the Education Code
to the extent those provisions are consistent with the conditions
specified in this act.
   (b) Funds may be disbursed from the proceeds of the loan only if
the state administrator and the County Office Fiscal Crisis and
Management Assistance Team jointly determine that the disbursement is
necessary to support the immediate cashflow needs of the school
district.
   (c) Based on the needs of the school district to meet its
obligations, the Superintendent of Public Instruction may direct the
Controller to disburse, on a monthly basis, specific amounts of the
emergency loan before the approval of all of the conditions
established by this act.
   (d) For the fiscal year in which the apportionments are disbursed
and each year thereafter, the Controller, or his or her designee,
shall cause an audit in lieu of the audit required by Section 41020
of the Education Code to be conducted of the books and accounts of
the school district. At the discretion of the Controller, the audit
may be conducted by the Controller, his or her designee, or an
auditor selected by the school district and approved by the
Controller. The costs of these audits shall be borne by the school
district. The audits shall be required until the Controller
determines, in consultation with the Superintendent of Public
Instruction, that the school district is financially solvent but in
no event earlier than one year following the implementation of the
plan or later than the time the apportionment made is repaid,
including interest.  
  SEC. 8.    (a) The Inglewood Unified School
District shall repay the emergency loan incurred pursuant to Section
7 of this act as a straight line loan amortized over a 20-year term.
This amount shall be repaid by the school district, plus interest
calculated at a rate equal to the rate earned by the Pooled Money
Investment Account on the date this act becomes effective, for a
period not to exceed 20 years.
   (b) If a required payment is not made within 60 days after a
scheduled date, the Controller shall pay the defaulted loan payment
of principal and interest by withholding that amount from the next
available payment that would otherwise be made to the county
treasurer on behalf of the school district pursuant to Section 14041
of the Education Code. However, subject to the approval of the
Department of Finance, the amount withheld may be in monthly amounts
as determined by an agreement between the Inglewood Unified School
District and the Controller during the period beginning with the next
available apportionment through the month preceding the next
scheduled payment.
   (c) The school district shall enter into a lease financing with
the California Infrastructure and Economic Development Bank for the
purpose of financing the emergency apportionment, including a
repayment to the General Fund of the amount advanced pursuant to
Section 7 of this act. In addition to the emergency apportionment,
the lease financing may include funds necessary for reserves,
capitalized interest, credit enhancements, and costs of issuance. The
bank shall issue bonds for that purpose pursuant to the powers
granted pursuant to the Bergeson-Peace Infrastructure and Economic
Development Bank Act as set forth in Division 1 (commencing with
Section 63000) of Title 6.7 of the Government Code. The term of the
lease shall not exceed 20 years, except that if at the end of the
lease term any rent payable is not fully paid, or if the rent payable
has been abated, the term of the lease shall be extended for a
period not to exceed 10 years.
   (d) The Director of Finance may amend the payment schedule set
forth in subdivision (a) if the director concludes that the amendment
is warranted and is in the best interests of both the state and the
Inglewood Unified School District education program. Upon that
determination, the director shall notify the Joint
                                  Legislative Budget Committee that
the payment schedule will be changed on the date that is 90 days from
the date of notification if the Legislature is in session. If the
90-day period ends during a recess of the Legislature or while the
Legislature is not in session, the 90-day period shall be extended
until the Legislature reconvenes. Amendments to the payment schedule
shall defer the unpaid portion of a repayment of the earliest fiscal
year in which no other repayment is scheduled. Interest shall accrue
on the unpaid portion of a repayment from the scheduled due date
until the time the payment is actually made. The interest charge
shall be the rate equal to the daily investment rate of the Pooled
Money Investment Account on the date the pay schedule is changed.
   (e) The school district may repay its loan obligation without
incurring any prepayment penalties.  
  SEC. 9.   (a) Notwithstanding Sections 17456,
17457, 17462, and 17463 of the Education Code, or any other law, from
June 1, 2011, to June 30, 2014, inclusive, the Inglewood Unified
School District may sell property owned by the school district and
use the proceeds from the sale to reduce or retire the emergency loan
provided in Section 7 of this act. The sale only of property
pursuant to this subdivision is not subject to Section 17459 or 17464
of the Education Code.
   (b) Notwithstanding any other law, from June 1, 2011, to June 30,
2016, inclusive, the Inglewood Unified School District is not
eligible for financial hardship assistance pursuant to Article 8
(commencing with Section 17075.10) of Chapter 12.5 of Part 10 of
Division 1 of Title 1 of the Education Code.  
  SEC. 10.    The Los Angeles County Superintendent
of Schools maintains the responsibility to superintend school
districts under his or her jurisdiction. This act does not remove any
statutory or regulatory rights, duties, or obligations from the
county superintendent of schools.  
  SEC. 11.    The Legislature finds and declares
that, due to unique circumstances relating to the fiscal emergency in
the Inglewood Unified School District, a general statute cannot be
made applicable within the meaning of Section 16 of Article IV of the
California Constitution.  
  SEC. 12.    No reimbursement is required by this
act pursuant to Section 6 of Article XIII B of the California
Constitution because the only costs that may be incurred by a local
agency or school district are the result of a program for which
legislative authority was requested by that local agency or school
district, within the meaning of Section 17556 of the Government Code
and Section 6 of Article XIII B of the California Constitution.
 
  SEC. 13.    This act is an urgency statute
necessary for the immediate preservation of the public peace, health,
or safety within the meaning of Article IV of the Constitution and
shall go into immediate effect. The facts constituting the necessity
are:
   In order to address the fiscal emergency in which the Inglewood
Unified School District finds itself and to ensure that it meets its
cash obligations for this fiscal year, it is necessary that this act
take effect immediately.