What happens in the Livermore Valley Joint Unified School District (LVJUSD) if Proposition 30 fails?
At the LVJUSD board meeting on October 16 Business Official Susan Kinder said that cash flow issues would not be a problem due to the districts's ability to borrow $10,000,000 from the county treasurer at a rate of 0.6% with no issuance cost. The interest for this amount would be just $5,000 per month through April.
Superindentent Kelly Bowers admitted that the need for borrowing is due solely to the state's intentional delay on payments and not on deficits. Also that all cuts would be absorbed: "In the event that there is a trigger cut we have concessions that have been pre-agreed to by all of our bargaining units..."
(See uploaded videos from the October 16, 2012 board meeting)
At an earlier board meeting on September 18, Prop 30 was endorsed by the LVJUSD board only on a 3-2 vote.