Suggested Read: Inglewood schools get loan to avert looming bankruptcy

Suggested read by Supervisor Mark Ridley-Thomas via Los Angeles Times.

The Inglewood Unified School District has received a $17.4-million short-term loan that will allow it to avert a looming bankruptcy, a district official said.

Supt. Gary McHenry said the cash infusion would eliminate any need for a state emergency loan, which would have triggered the California Department of Education to sideline the school board, fire the superintendent and take over district management until the loan is repaid. The district, hit by steep state funding cuts and the loss of 1,000 students since last year, had feared it would run out of cash by May.