Pennsylvania’s capitol city of Harrisburg has filed for bankruptcy protection due to a failure to pay a debt on a trash-to-energy incinerator. The city’s Bryn-Mawr based lawyer, Mark D. Schwartz, was against the 4-3 decision made by the city council. “This was a last resort…they’re at their wits’ end,” says Schwartz.
With its debt burden five times its general-fund budget, Harrisburg is the largest city bankruptcy since Vallejo, CA in 2008, according to Municipal Market Advertisers, a research firm in Concord, MA.
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