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San Joaquin Valley's Chowchilla defaults on a bond

Jan 7, 2011 3:00:00 AM - latimes.com
Reflecting the struggles many cities face, the town fails to make a payment on the bond issued in flusher times to renovate City Hall. But an official says reserves will be drawn down to cover the payment.

The San Joaquin Valley town of Chowchilla — known for its dairy farms and prisons — has defaulted on a municipal revenue bond, underscoring the tight times and drastic choices faced by struggling California cities.

USA, California: (Latest Stories)