City of Stockton to File for Bankruptcy?

Are the dominoes beginning to drop?
 
“California’s new municipal bankruptcy law could be put to the test in its first trial, as the rumor mill is churning that the city of Stockton is preparing to file for bankruptcy. You may recall that under AB 506, a city is now required to deal with a “neutral evaluator” for at least 60 days before seeking bankruptcy court protection. That being said, this mediation process can be avoided if a municipality declares a financial emergency.
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