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The Panolian reports that a new owner of the facility is not expected to emerge before a July 9 hearing in New York.
The school deadline for budgets is Aug. 15.
Schools Superintendent Keith Shaffer says if the tax money doesn't come in, the district may have to borrow in the short term to cover a budget shortfall.
Local governments are owed about $4.5 million in past due taxes, of which $1.8 million is for the school, from LS Power Company, which filed Chapter 11 reorganization bankruptcy earlier this year.