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Our Times / Orange County Communities

Placentia

May 15, 2000|Raul Gallegos, (714) 520-2512

No one can say for sure what will happen to the $3 million the city received more than a month ago from the Orange County bankruptcy settlement. Some city officials say the money should be invested and drawn on as interest over time. Others say it must be used to pay for projects put on hold when that money was lost during the bankruptcy in 1994. But some are angling for specific projects: Some elderly residents want a senior center, kids want more parks, and sports groups want more fields. Steve Brisco, the city's director of finance, said he intends to see that none of the principal is spent. "It has been made clear that the money will be kept invested and only the interest derived from that will be spent," he said. Councilwoman Maria Moreno, however, plans to hold a meeting with residents soon to discuss how to spend the money before next year's budget is adopted in June.

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