5 Capital lacks capital.
Position | STATELINE - Harrisburg, Pennsylvania - Brief article |
The city council of Harrisburg, Penn., the state capital, voted in mid-October to file for Chapter 9 municipal bankruptcy protection. The petition cited "overwhelming debt," as the reason and that the city was in "imminent jeopardy" from creditor claims. State lawmakers passed legislation shortly thereafter allowing the governor to declare a financial emergency and requiring the city's leaders to obey a financial plan drawn up by his appointee. The plan, released in early November, includes freezing spending on...
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