Desert Hot Springs, California, May Weigh Bankruptcy
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Desert Hot Springs, California, a resort town near Palm Springs, may become the first city since Detroit to seek bankruptcy protection from creditors after a sharp drop in revenue, according to a staff report.
The city of 26,000 will run out of cash by March 31, according to a memo to the City Council from Amy Aguer, the interim director of finance and administration. She urged the council to declare a fiscal emergency at its Nov. 9 meeting, a prerequisite under state law for a Chapter 9 filing.