In surprise move, city of Baltimore offers loan to schools

03/9/2004 | Sun (Baltimore), The

The Baltimore City Council yesterday voted to lend city schools $42 million to avoid their having to accept a state bailout, which also mandated a virtual state takeover of the cash-strapped district. The proposed loan, which still needs approval from the city's Board of Estimates, would substantially drain the city's $56.2 million emergency fund.

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Sun (Baltimore), The

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