San Bernardino becomes California's third city in weeks to declare bankruptcySubmitted by Bob-45 on Wed, 07/11/2012 - 09:38
By Phil Willon, Los Angeles Times
July 10, 2012, 11:17 p.m.
San Bernardino on Tuesday became the third California city in less than a month to seek bankruptcy protection, with officials saying the financial situation had become so dire that it could not cover payroll through the summer.
The unexpected vote came at the suggestion of the interim city manager, who said the city faces a $46-million deficit and depleted coffers.
"We have an immediate cash flow issue," Andrea Miller told the mayor and seven-member City Council.