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Portola Valley schools gets $2.9 million

Original post made on Sep 2, 2009

The 735-student Portola Valley School District hit the jackpot in the recent lottery for federal stimulus money. The district will receive $2.85 million in federal income tax credits.

Read the full story here Web Link posted Wednesday, September 2, 2009, 12:21 AM

Comments (2)

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Posted by Austen Heydon
a resident of Portola Valley: Ladera
on Sep 2, 2009 at 9:05 pm

Wouldn't it be wonderful to see the PV School District in turn hold a lottery of other local, less fortunate districts, and give some of this away?


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Posted by Tim Hanretty
a resident of Portola Valley: other
on Sep 3, 2009 at 1:02 pm

The funding referenced in this article is not direct funding nor is it a grant. It is approval from the State of California Department of Education to issue bonds for school construction projects (solar power) which must be repaid by the school district.

Under the terms of the bond program, the Portola Valley District cannot redirect these bond funds to other school districts.

If the Portola Valley District were to decide not to issue the bonds, the State would then allocate the funds to another school district on the statewide waiting list.

Tim Hanretty, Asst. Superintendent
Portola Valley School District


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