Posts Tagged: owed
News
Bankrupt San Bernardino announced an agreement with CalPERS last week to pay off an unprecedented pension debt owed for skipping payments to the pension fund for a year — $13.5 million, plus several million more in penalties and interest. Details of the agreement reached in closed mediation were not released. But the city said in a court filing the CalPERS agreement “will help form the basis” for a debt-cutting plan needed to exit bankruptcy.
News
Decades ago, California began taking over the management of thousands of acres of rural wildlands in dozens of counties across the state. But over the years a problem arose: With the state in control, some counties were cut out of the money that they otherwise would have collected from property taxes. The state had promised to compensate the counties for the lost revenue by making payments in lieu of taxes.
News
On his wish list for the next fiscal year, Gov. Jerry Brown has put higher education right near the top. California’s public colleges and universities, Brown said as he unveiled the state budget, “used to be four years and free. Now in many cases it’s six years and expensive.” (Photo: Samantha Gallegos/Capitol Weekly)