Another Calif. City Eyes Fiscal Emergency To Speed Up Ch. 9

Law360, San Diego (September 20, 2012, 10:16 PM EDT) -- Facing a $3.3 million budget deficit, the city of Atwater, Calif., said Thursday that it was considering whether to declare a fiscal emergency to accelerate filing for municipal bankruptcy, which would make it the fourth city in the state to seek Chapter 9 protection this year.

The city council withheld from declaring a state of emergency at a Wednesday meeting, but it plans to continue discussions at an Oct. 3 meeting and has authorized the city manager to take “immediate, appropriate and lawful measures” to achieve...
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