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May 8, 2008

Vallejo, Calif., will file for bankruptcy

VALLEJO, Calif. (AP) — Vallejo is set to become the largest California city to declare bankruptcy after leaders voted in favor of it to solve the San Francisco Bay Area suburb's spiraling budget crisis.

Many officials and residents attribute Vallejo's fiscal troubles to overly generous pay and benefits to the city's police and firefighters.


 
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