Once struggling California district pays off state loan

From The San Francisco Chronicle: The Richmond Unified School District, the first school system in California to go bankrupt and require a bailout loan, has paid off its loan to the state -- four years early. The district, which has been renamed the West Contra Costa Unified School District, has retired the $29 million loan made 21 years ago. The final payment of $8,130,607.58 was handed over last week to state Superintendent Tom Torlakson, and two decades of state control over the district ended.