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Will your city declare bankruptcy? A new law may allow it [View All]

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NNN0LHI

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Thu Dec-30-10 09:41 AM
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Will your city declare bankruptcy? A new law may allow it

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http://www.wthitv.com/dpp/news/local/bankruptcy-bill

Updated: Tuesday, 28 Dec 2010, 6:34 PM EST
Published : Tuesday, 28 Dec 2010, 3:00 PM EST

Kate Greene

INDIANA, (WTHI) - It's not uncommon to see families or companies filing for bankruptcy, but you could see your own city in the mix.

A new bill is being proposed that would allow Indiana cities to fill for bankruptcy.

This new bill backed by Governor Mitch Daniels could be local governments way out of financial trouble.

The bill would allow cities to file bankruptcy and allow the state to takeover.

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