Michigan's State Treasury Department has offered a $2 million loan to area schools, to help meet their August payroll.
Our reporting partners at the Herald Palladium say the next step is for the Local Emergency Financial Assistance Loan Board is to approve the loan.
District Superintendent Leonard Seawood says without the money, there's almost no reason for school to open on Tuesday because it doesn't have the money to make it through the rest of September.
The district still has to revise its deficit elimination plan for the Treasury Department. Once obligations are met, the department will schedule a meeting to discuss the $2 million emergency loan.
For more information visit: http://www.heraldpalladium.com/news/local/bhas-state-loan-has-strings/article_64a34eae-8760-5ab2-8355-ff49f7b81935.html.
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