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...Several fear a repeat of the bankruptcy proceedings in Detroit or Stockton, California, when creditors suffered heavy losses....
...“Bad decisions were made and reserves were squandered and additional massive debt was incurred by our city,” said Kathy Miller, Stockton’s vice-mayor....
...At the peak, the city received 1,000 construction permit requests a year, said Kathy Miller, Stockton’s vice-mayor. Last year, it received 125....
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