Georgia Cities Unable to File for Bankruptcy
Thursday, July 25th, 2013
Detroit's bankruptcy filing has some asking if a Georgia city could be next, but one attorney said the answer is no.
State law prohibits cities from filing bankruptcy to absolve themselves of debt and forces city leaders to make tough decisions on raising taxes and cutting benefits and jobs.
Dwindling tax revenue caused by the recession and slow economic recovery left many cities struggling. An attorney who represents many Southwest Georgia cities says residents shouldn't be concerned.
