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05-17-2010, 10:04 PM #1
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Experts: More Local Cities Will Be Forced into Bankruptcy
Experts: More Local Cities Will Be Forced into Bankruptcy
Monday, 17 May 2010 08:29 AM
By: Dan Weil
Harrisburg, Pa., officials have raised the idea of declaring bankruptcy, and don’t be surprised if other financially strapped cities begin to contemplate the same idea.
Harrisburg, Pennsylvania’s capital, has missed $6 million in debt payments since Jan. 1.
Its City Council brought in experts to explain the ramifications of bankruptcy at a recent meeting.
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