Washington -- The Superior Court of Contra Costa County Wednesday granted California and the Richmond Unified School District a one-month reprieve from an investor lawsuit over the district's defaulted certificates of participation so they can pursue an out-of-court settlement.

In an order postponing until July 31 the first hearing on the suit, which had been scheduled for today, the court noted that the state, the district, and other defendants had asked for the delay "to allow parties time to discuss the possibility of an amicable resolution of the dispute" over the $9.8 million lease issue. The issue went into default nearly a year ago.

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