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” While today’s municipal bankruptcy news focuses on Detroit, where a judge has just ruled the city can proceed with its bankruptcy filing, tonight a small California city holds a council meeting to try to avoid the same fate.
Tags » Desert Hot Springs
R-o-l-a-i-d-s. Northern Alabama Chief U.S. Bankruptcy Court Judge Thomas Bennett late yesterday cleared Jefferson County, Ala., to exit Chapter 9 protection with a plan that cuts its $3.1 billion sewer debt nearly in half but places a heavy repayment burden on residents for decades to come and carves out a unique role for the U.S. 1,551 more words
DESERT HOT SPRINGS (AP) — This financially troubled city declared a fiscal emergency Tuesday in an effort to avert a second federal bankruptcy filing.
The City Council voted unanimously to declare the emergency as the city grapples with a $6 million gap between revenues and spending. 204 more words
DESERT HOT SPRINGS (AP) — A vote was expected to determine if a financially troubled California city will declare a fiscal emergency to avert a second federal bankruptcy filing. 228 more words
DESERT HOT SPRINGS (AP) — A Southern California city that declared bankruptcy more than a decade ago is trying to avoid repeating history.
The city of Desert Hot Springs, a modest bedroom community known for a number of boutique hotels and spas, will consider declaring a fiscal emergency Tuesday in a bid by municipal officials to drive contractors and labor to the bargaining table and stave off the specter of Chapter 9. 479 more words