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California State Emergency Loan Recipients

California state emergency loans to school districts from 1990 to 2018.

Note: This page may need to be printed in landscape view on 8.5" x 14" paper.

District Tenure of State Administrators and State Trustees Legal Authority (in addition to 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

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

$24,279,726 as of 07/01/18

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.)

$7,327,936

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)    

$9,485,122 as of 07/01/18

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.

$8,694,542.81

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

$20,801,935 as of 07/01/18

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

$47,479,988

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

$33,950,687 as of 07/01/18

I-Bank: $3.8 million total due during the period July through January, 2006–2023; GF: $2.1 million due each June, 2007–2026

$83,496,846

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


Questions:   Categorical Allocations & Management Assistance Office | 916-327-0538
Last Reviewed: Friday, May 10, 2019