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Monday, February 15, 2016

DID THE CITY OF LYNN FILE BANKRUPTCY?

Resolution of Lynn's Net School Spending crisis

donnacoppola@mail.com; patti7761@hotmail.com; Maria Carrasco; john.e.ford@state.ma.us; jaredc.nicholson@gmail.com; lorraine.gately@stmaryslynn.com ; jcerulli@lynnma.gov Cc: lathamc@lynnschools.org; tom iarrobino; Lynn Teachers Union; legal@doe.mass.edu 



Dear School Committee Members,

I decided to share with you in writing what I mentioned at last week’s Open Mic. Not do I write more clearly than I talk but the Mayor and LSC member PATTI CAPANO were not present for my diatribe.

Since there has apparently been a resolution of the Net School Spending problem whereby there will be an influx of over $2 million into this years budget, I feel the public has a right to know just how that money will be spent and there should be some open discussion on maximizing our resources.

Given the vast amount of attention given to this problem, some accountability is owed to the public. At the same time some spotlight will be shone on the Mayor’s negotiating skills whereby she whittle down a $15-17 million debt to 4 payments of $2 million plus. I have not heard the terms mentioned but I do know from personal experience of the process that such a reduction in debt followed by a payment schedule on the balance is very much akin to the procedure one follows when you go through a Chapter 13 BANKRUPTCY. 

Is that how LPS emerged from this problem?

Sincerely,


Stan

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