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Vallejo, California, officials voted to
file for bankruptcy because the San Francisco suburb isn't able
pay its bills after costs for police and firefighters soared and
the housing market's slide cut into tax revenue.
file for bankruptcy because the San Francisco suburb isn't able
pay its bills after costs for police and firefighters soared and
the housing market's slide cut into tax revenue.
The city council's unanimous decision last night will make
Vallejo the largest California city to file for bankruptcy and
the first in the state to seek protection from creditors because
it ran out of money to pay for basic services. The decision came
after it failed to win salary concessions from labor unions.
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