Connecticut cities seeking state assistance with debt payments would be prohibited from filing for bankruptcy.
Under the latest state budget proposal, municipal leaders can apply to have the state pick up a portion of their annual debt payments, a move that is being considered in the cash-strapped capital city.
In a new draft of legislation that is now being weighed by lawmakers, cities would be banned from seeking bankruptcy protection if they apply for the assistance.
The language appears to be aimed at Hartford Mayor Luke Bronin, who sent a letter to Gov. Dannel Malloy and legislative leaders last month threatening to file for bankruptcy if the city didnt get additional state aid soon.
Hartford fa…
Read the full article at: http://www.courant.com/community/hartford/hc-news-hartford-oversight-bill-bankruptcy-20171025-story.html
