Reuters: Bankruptcy News: Californian city of San Bernardino considers bankruptcy

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Californian city of San Bernardino considers bankruptcy Jul 11th 2012, 01:10 SAN FRANCISCO, July 10 | Tue Jul 10, 2012 9:10pm EDT SAN FRANCISCO, July 10 (Reuters) - The city council of San Bernardino, California, will discuss and may act as early as Tuesday evening on a motion for the city to seek Chapter 9 bankruptcy protection from its creditors at the same time as it takes up a plan to stabilize the city budget. It is unclear if the leaders of the city of about 210,000 residents approximately 65 miles (104 km) east of Los Angeles will act on the motion. They are also scheduled to take it up during a special meeting on Wednesday if needed, according to city council agenda items posted on the city's website.

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