Gov. Pete Wilson has signed a bill authorizing the West Contra Costa Unified School District, formerly the Richmond Unified School District, to pay off its defaulted $9.8 million certificates of participation through a refinancing.

The law enables the school district and the state to settle an investor lawsuit over the defaulted issue originally filed in April 1992. In response to the suit, the Superior Court of Contra Costa County this spring ordered the school district to make more than $2 million in past due payments on the lease issue.

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