San Bernardino Approves Emergency Budget

Law360, New York (September 5, 2012, 11:51 PM EDT) -- Bankrupt San Bernardino, Calif.'s city council on Wednesday passed an emergency budget that cuts 30 percent of the city's expenses and aims to slice $16.4 million off this year's expected $45 million budget shortfall that sent the city into Chapter 9 protection.

After two days of heated negotiations, the city council members agreed to pass the "prependency plan," an emergency budget for the 2012-2013 fiscal year, without controversial cuts to the fire department that called for "brownouts" of three fire stations that would close for 48...
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