The City Council in San Bernardino voted Tuesday night to
seek Chapter 9 bankruptcy protection, making it the third California city in
less than two weeks to make the rare move, HuffPo reports
The Southern California city of about 210,000 people will also
become the second largest in the nation ever to file for bankruptcy. Stockton,
the Northern California city of nearly 300,000, became the biggest when it
filed for Chapter 9 on June 28.
"We have an immediate cash flow issue," Interim
City Manager Andrea Miller told Mayor Patrick Morris and the seven-member City
Council, according to the Los Angeles Times.
Miller said the city is facing a budget shortfall of $45.8-million. It
has already stopped paying some vendors, and may not be able to make payroll
over the next three months...
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