Skip to comments.Watch Live - The First Domino Fall - City of Stockton City Council vote for Chapter 9
Posted on 06/26/2012 10:34:31 PM PDT by Selene
16.03 CC - PUBLIC HEARING ADOPTING THE PROPOSED FISCAL YEAR 2012-2013 ANNUAL BUDGET; APPROVING THE 2012-2017 CAPITAL IMPROVEMENT PROGRAM; APPROVING THE 2012-2013 FEE SCHEDULE; APPROVING MODIFICATIONS IN TERMS AND CONDITIONS TO CERTAIN BARGAINING GROUPS; AUTHORIZING VARIOUS FUND TRANSFERS AND ADMINISTRATIVE ACTIONS INCLUDING APPROVAL OF MODIFICATIONS TO THE UNREPRESENTED EMPLOYEES COMPENSATION PLAN AND CONTINUANCE OF THE STATE OF EMERGENCY BASED ON FISCAL CIRCUMSTANCES THROUGH JUNE 30, 2012; AND DECLARATION OF EMERGENCY
6-1 for Chapter 9
The retiree health benefit reduced, Bond payments suspended
Sorry, couldn’t help myself.
The sooner that whole State can’t afford itself the sooner it’ll break its Dem monopoly and stop being a drain on the other 49.
Little Tijuana is what they call it. Way High up the list in Murders, and shootings. Had a business there at one time The town was good to me then, down hill since illegals, took it over. Lots of People on the Handout leval ,of every race. Wonderful farming and cattle rich area for years.
This is the largest city bankruptcy in US history.
Don’t know who the bond holders are
When will people learn that a post with all caps just makes everyone go on to the next post?
Here is a hint, if you don’t want anyone to read what you post, do it in all caps, if you really care about what you are posting and want people to read it, then post it in a way we will want to read it.
I live in Ca, and this is good news, but who the hell would know, or care to read what you posted??????
California is such a beatiful state with enormous resources.....its really just so sad that its being ruined...
I have this vision of Gov Jerry Brown and Lt Gov Gavin Newsom frantically trying to rig some scheme to slide them Federal money slated for something else and burying the transfer through 15 levels of over lawyered shell game hoping they won’t get caught at it for at least another 18 months.
I did. The content seemed more important than the way it was posted.
“Dont know who the bond holders are”
I have seen reports that the City Hall and two “city-owned” parking garages are “mortgaged” by Wells Fargo. WF has reportedly taken over the garages. Like another poster said, Stockton used to be a really nice place to live until the Illegal Mexicans showed up. I had to stop and an auto parts store there a couple of years ago in broad daylight and wished that I was “carrying.”
Geographically yes, but there it ends.
Feinstein, Boxer, and Pelosi year after year. County lines get redrawn there in a frenzy of gerrymandering that would give an amoeba fits and starts. Ca. will Never straighten itself out until the whole State has to declare bankruptcy.
Boss Tweed had nothing on Sacramento and all of its nefarious games.
Guess they ran out of other peoples money.
All caps; didn’t read.
Something about Stockton?
Unless, of course, Obama determines it ‘too big to fail’ and the rest of us are brought to our knees bailing it out.
“Unless, of course, Obama determines it too big to fail and the rest of us are brought to our knees bailing it out.”
I’m thinking he’s got a bit too much on his plate as it is to try that one too, but you never know. The man’s arrogance truly knows no limits.
How long has this place had Democrat Mayors?
Send them to Bismarck North Dakota to learn how it is done.
No, because 18 months will give them time to bury it, no more how wrong they do it, under another 20 paperwork hustles just as bad if not worse. The methodology is to have such a pile of chisling, SO Deep, that nobody ever gets to the bottom of the stack.
Libs are always so good at breaking things that conservatives can’t keep up with fixing them.
Your metaphorical prose rings true. I moved from Dallas to Baton Rouge just in time for multiple hurricanes. Katrina and Rita were the 500 year storms that no one in local government planned and tested for (see note below). It was a deplorable cesspool before the annihilation of New Orleans, but afterward, the region devolved into a Mad Max movie.
The scary thing for me in Texas is that there's been a massive migration for decades of CA residents permanently relocating here - especially Austin. Besides the usual traffic and housing inflation problems, CA residents want to institute their failed progressive indoctrination agenda on the schools, engineer new social non-services, and use public taxes to fund their "green" non-eco agendas. They can't seem to help but soil their new nest.
[By the way, the levies had more than adequate funding from Uncle Sam for maintenance. But, the levee boards - democRats all - spent the money on family and friends - not the intended purpose. Indicative of this fact is the systemic corruption - the New Orleans police force was so corrupt that it had to be run by the FBI.
It's a literal crime that such a historic, culturally rich, and resource blessed city and region would degrade into such a state.]
With Meredith Whitney, Muni-Bond Guru (and anti-tea party shrill beeotch slapped by Santelli on air) Finally be right on her call about Municipal bankruptcies and potential wave of them to come?
IMHO if you look where the "Porkulus" money went, it went not for roads and bridges, but to States which funneled it via State aid to Teachers, Police and Fire Depts to keep the staff levels up, the Union Coffers full, and to try to stave off their eventual downsizing.
It didn't work IMHO and the re-engineering of Civic Institutions will have to occur like it did in the private sector in the 80's, 90's and beyond just like it occurred at Ford so they could survive and then thrive.
I am not trying to be anti-teacher, cop or fire personnel, but no person within a Municipality should be exempt, especially when it comes to legacy cost of pensions.....
And meanwhile the budget of the State of California continues to bloat. And bloat. And bloat.
“Dont know who the bond holders are.”
With any luck it is Hollywood.
“...there’s been a massive migration for decades of CA residents permanently relocating here - especially Austin. Besides the usual traffic and housing inflation problems, CA residents want to institute their failed progressive indoctrination agenda on the schools...”
Florida has seen the same thing - especially on the Atlantic coast. Northeasterners get sick of the political and social cesspool they helped create and move down to Florida.
Unfortunately, they bring the same voting habits and same attitudes with them. Look at the kind of people they elect - such as Congresswoman Debbie Wasserman-Schultz. She’s a classic example.
Until 2000, Florida was never considered a swing state. it was always firmly in the GOP camp. But with the influx of Massholes, etc, it’s now a swing state.