"It's obvious we can't continue with salaries and pensions that are in the stratosphere, no matter how much love there is for our police department," said Russell Betts, a council member.
Desert Hot Springs, which is near Palm Springs, filed for bankruptcy in 2001 after losing a multimillion dollar lawsuit and still servicing $9.7 million of bond debt issued to fund its exit from Chapter 9 bankruptcy.
Saturday, November 16, 2013
Another U.S. city mulls bankruptcy due to soaring wages and pensions
Three guesses where this city is located. Times up. It's Desert Springs, CA.