Series 50: Powers Of The Municipality

Taken from our Series 50 Online Guide

Powers of the Municipality

Once a bankruptcy proceeding has begun, the municipality may:

  • Continue to use its properties
  • Buy or sell assets, including property
  • Raise taxes and spend money
  • Adjust contracts that do not involve debt
  • Stop paying retirement plans
  • Dismiss collective bargaining agreements
  • Borrow money to help pay for the costs associated with

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