Although the mayor and city council won't discuss it yet.
I post this not to bash CA but CA has, in the past, been the trendsetter for what happens in the nation.
This does not bode well if this trend starts to permeate to other states.
City of Compton may declare bankruptcy by September: officials - Yahoo! News
"I have $3 million in the bank and $5 million in warrants due in the next 10 to 12 days," said city treasurer Doug Sanders. "By then, the council will have a decision to make: don't pay the bonds, default on them, or have a serious talk about bankruptcy."
The city council adjourned at 11 pm without discussing a potential bankruptcy filing.
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