Education finance: Oakland Unified School District: sale of surplus property.

(1) Existing law appropriates $100,000,000 from the General Fund to the Superintendent of Public Instruction for apportionment to the Oakland Unified School District as an emergency loan. Existing law authorized the Oakland Unified School District, from June 1, 2003, to June 30, 2007, inclusive, to sell property owned by the district and to use the proceeds from the sale to reduce or retire that emergency loan. Existing law also prohibited the Oakland Unified School District from being eligible for financial hardship assistance under the Leroy F. Greene School Facilities Act of 1998 during that period of June 1, 2003, to June 30, 2007. This bill would provide instead that the provisions authorizing the Oakland Unified School District to sell property and prohibiting eligibility for financial hardship assistance would operate from January 1, 2012, to June 30, 2016, inclusive. (2) This bill would make legislative findings and declarations as to the necessity of a special statute for the Oakland Unified School District.