Gov. Arnold Schwarzenegger signed legislation Friday authorizing a $30-million emergency loan to keep the Compton Community College District afloat.

The bill, sponsored by Assemblyman Mervyn Dymally (D-Compton), also authorizes the El Camino Community College District to provide classes for Compton students if the Compton district loses its accreditation.

The college, under state control since 2004, is appealing a decision by an oversight agency to strip its accreditation over financial and management troubles. It remains accredited while the appeal is pending.

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