RI: City files for bankruptcy

posted by
August 2, 2011
Associated Press    
Posted in News, PND News

"The state-appointed receiver overseeing Rhode Island's cash-strapped Central Falls on Monday filed for bankruptcy on the city's behalf in an effort to solve its fiscal crisis. Receiver Robert G. Flanders described the step as one of last resort after city taxes had been raised and services cut 'to the bone,' and after municipal retirees and current workers failed to agree on deep -- but voluntary -- cuts to their pensions and benefits." (08/02/11)


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