Feb 21, 2008 10:29 pm US/Pacific
Vallejo Residents Pack Meeting On City's Finances
VALLEJO (AP) ―
Residents packed a town hall meeting Thursday night to discuss the city's struggles with a growing deficit that has it on the brink of declaring bankruptcy.
Vallejo officials say the city is faced with a $6 million shortfall and may be unable to pay city employees by mid-April.
Officials are blaming the city's fiscal crisis on a combination of factors including climbing police and firefighter salaries along with overtime expenses, while tax revenues decline because of a weakening housing market.
The City Council is scheduled to address the crisis at its meeting on Tuesday.
If Vallejo does end up seeking bankruptcy protection, it would be become the first city in California to declare bankruptcy.
(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
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