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Liberal Utopia Update: San Bernadino files for bankruptcy
(Posted on 8/2/12 at 2:53 pm)
quote: San Bernardino, California, filed for municipal bankruptcy after disclosing a $46 million shortfall in the city’s budget, the third California city to seek court protection from creditors since June 28.
quote: “All of our vital service bills will continue to be paid,” Morris said. “We are going to keep our city services running.”
San Bernardino, a city of 209,000 about 60 miles (97 kilometers) east of Los Angeles, listed assets and debt of more than $1 billion in a filing yesterday with the U.S. Bankruptcy Court in Riverside, California.