MARTINEZ, CALIF. The California Superior Court of Contra Costa County Friday dismissed on procedural grounds a motion to force the Richmond Unified School District to start budgeting payments again on its defaulted certificates of participation.

In a bench ruling, Judge John F. Van de Poel said there is no statutory basis for him to compel budgetary action by the district~s school board or to force the state to go along with any such action. His ruling comes in response to the first motion in the lawsuit filed this spring by the $9.8 million issue's trustee, U.S. Trust Co. of New York.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.