CITY OF DESERT HOT SPRINGS FACING BANKRUPTCY

CITY OF DESERT HOT SPRINGS FACING BANKRUPTCY

The Desert Hot Springs City Council may soon be taking the first steps towards declaring bankruptcy. City officials say the staff will recommend city leaders approve a fiscal emergency, a legal maneuver that gives the city greater flexibility to negotiate its debts and work with employee unions. Under new revenue projections, Desert Hot Springs is on track to spend about $6.9 million more than it has in revenues for the current fiscal year. That figure does not factor in city debts, including $6.7 million in unfunded pensions. City staff warned that Desert Hot Springs could run out of cash by the end of March.

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