The city of Vallejo is hurting, badly.
Vallejo may run out of cash as early as March, council member Stephanie Gomes said.
“This has been happening for quite a while. For 15 years the city council has been putting Band-Aids on the problem. (It has been) extending contracts and deferring payments for public safety to the next years as a way of balancing the current budget.”
Public safety contracts for police and fire services make up 80 percent of the city’s general fund.
And we thought a few For Sale signs for foreclosure properties on the same street were bad.
An Entire City May Go Bankrupt
