California State Emergency Loan Recipients

California state emergency loans to school districts from 1990 to 2024.

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District	Tenure of Administrators and Trustees	Legal Authority (in addition to Assembly Bill (AB) 1200)	Date of Issue	Amount of State Loan	Interest Rate	Date/Amount of I –Bank Refinance & Remaining General Fund (GF) Loan	Outstanding Balance of I-Bank and General Fund Loans	Amount of Annual Loan Payment; Due Date	Amount Paid By District Including Principal & Interest	Pay Off Date
Inglewood Unified	Administrator 10/03/12–Present	Senate Bill (SB) 533, Ch 325/12 AB 86, Ch 48/13	11/15/12 11/30/12 02/13/13	$7,000,000 $12,000,000 $10,000,000 = $29,000,000 ($55 million authorized)	2.307%	11/01/13 $29,086,724 refinanced by GF	$18,248,005 as of 07/01/24	GF: $1.8 million due each November, 2014–2033; $2.6 million due November 2034. (November 2018 payment was deferred to November 2034 with interest.)	$16,487,856	11/01/34 GF
South Monterey County Joint Union High (formerly King City Joint Union High)	Administrator 07/23/09–06/30/16 Trustee 07/01/16–Present	SB 130, Ch 20/09 SB97, Ch 357/13	07/22/09 03/11/10 04/14/10	$2,000,000 $3,000,000 $8,000,000 = $13,000,000	2.307%	04/14/10 I-Bank refinanced $5 million GF loan, plus provided additional $8 million (total I-bank loan of $14,395,000 including principal, accrued interest, and expenses)	$4,607,159 as of 07/01/24	I-Bank: $1.2 million total due during the period July through October, 2010–2012; $.9 million total due during the period July through October, 2013–2028.	$14,610,534	October 2028 I-bank
Vallejo City Unified	Administrator 06/22/04–03/31/13; Trustee 07/13/07–Present	SB 1190, Ch 53/04	06/23/04 08/13/07	$50,000,000 $10,000,000 = $60,000,000	1.5%	12/01/05 $20,642,992 refinanced by sale of I-Bank bonds of $21,205,000 (principal and accrued interest) $25,000,000 - GF $10,000,000 - GF	$670,790 as of 07/01/24	I-Bank: $1.3 million total due during the period July through January, 2006–2024; GF: $1.6 million due each June, 2007–2024; GF: $670,797 due each August, 2008–2024	$68,506,499	January 2024 I-bank 08/13/24 GF
Oakland Unified	Administrator 06/16/03–06/28/09; Trustee 07/01/08–Present	SB 39, Ch 14/03	06/04/03 06/28/06	$65,000,000 $35,000,000 = $100,000,000	1.778%	12/01/05 $50,830,859 refinanced by sale of I-Bank bonds of $59,565,000 (principal and accrued interest) $35,000,000 - GF	$4,080,652 as of 07/01/24	I-Bank: $3.8 million total due during the period July through January, 2006–2023; GF: $2.1 million due each June, 2007–2026	$115,518,932	January 2023 I-bank 6/29/26 GF
West Fresno Elementary	Administrator 03/19/03–06/30/11; Trustee 08/26/08–12/04/09	AB 38, Ch 1/03	12/29/03	$1,300,000 ($2,000,000 authorized)	1.93%	N/a	0	N/a	$1,425,773	12/31/10 GF
Emery Unified	Administrator 08/07/01–06/30/04; Trustee 07/1/04–07/29/11	AB 96, Ch 135/01	09/21/01	$1,300,000 ($2,300,000 authorized)	4.19%	N/a	0	N/a	$1,742,501	06/20/11 GF
Compton Unified	Administrators 07/93–12/10/01; Trustee 12/11/01–06/02/03	AB 657, Ch 78/93 AB 1708, Ch 924/93	07/19/93 10/14/93 06/29/94	$3,500,000 $7,000,000 $9,451,259 = $19,951,259	4.40% 4.313% 4.387%	N/a	0	N/a	$24,358,061	06/30/01 GF
Coachella Valley Unified	Administrators 05/26/92–09/30/96; Trustee 10/01/96–12/20/01	SB 1278, Ch 59/92	06/16/92 01/26/93	$5,130,708 $2,169,292 = $7,300,000	5.338% 4.493%	N/a	0	N/a	$9,271,830	12/20/01 GF
West Contra Costa Unified (formerly Richmond Unified)	Pre-AB 1200 Trustee 07/01/90–05/01/91; Administrator 05/02/91–05/03/92; Trustee 05/04/92–05/31/12	AB 1202, Ch 171/90 Superior Court Order	08/1/90 01/1/91 07/1/91	$2,000,000 $7,525,000 $19,000,000 = $28,525,000	1.532% 2004 refi rate	12/01/05 $15,475,263 refinanced by sale of $15,735,000 in I-Bank bonds (principal plus accrued interest)	0	N/a	$47,688,620	05/30/12 I-bank

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Last Reviewed: Tuesday, July 16, 2024