Students leave Miramonte Elementary, in the Clovis Unified School District in Los Angeles. School districts across California have taken out loans requiring payments that far exceed the original loan amounts.
More than 200 school districts across California are taking a second look at the high price of the debt they've taken on using risky financial arrangements. Collectively, the districts have borrowed billions in loans that defer payments for years — leaving many districts owing far more than they borrowed.
In 2010, officials at the West Contra Costa School District, just east of San Francisco, were in a bind. The district needed $2.5 million to help secure a federally subsidized $25 million loan to build a badly needed elementary school.
The remaining winner of the $587.5 million Powerball jackpot has come forward to claim their share of the prize, according to lottery officials in Arizona, where the winning ticket was sold, according to ABC 15 TV in Phoenix.
The Nov. 28 drawing produced two winning tickets: one in Arizona, and one in Missouri, where Cindy and Mark Hill have already claimed their share of the prize.
Same-sex marriage proponent Kat McGuckin of Oaklyn, N.J., holds a gay marriage pride flag in front of the Supreme Court Nov. 30, 2012. The court says it will review two cases related to same-sex marriage in 2013.
Originally published on Fri December 7, 2012 8:05 pm
The Supreme Court has decided to take up cases involving California's Proposition 8, which bans gay marriage, and a provision of the federal Defense of Marriage Act. The justices' rulings on the cases are likely to be announced next June, after arguments are heard in the spring. Advocates on both sides of the issue were welcoming the news.
After African-American and Latino voters turned out in record numbers to reelect President Obama, leaders for both groups are turning up the pressure on him to return the favor.
They say that minorities, who put aside their disappointments with Obama's first term to support him again, now expect the president to spend his political capital on policies that will help their communities begin to recover from the recession. In the post-election euphoria, some leaders claim, certain voters are saying, "It's our turn."