It's emerged that the until-recently-corrupt city of Vernon is potentially in some big financial trouble, and now the LA County supervisors are balking at the idea of taking responsibility for the city if it's disincorporated by the state legislature. According to the LA Times, "[an LA County] staff report said there were long-term risks associated with the bonds issued by Vernon's electric utility. It also noted that Vernon's general fund has operated at deficits ranging from $20 million to $33 million over the last five years and that the city's financial condition would not be sustainable without new sources of revenue." State Assembly Speaker John Pérez, who's behind the disincorporation bill, says he still wants to get it through before the end of the session. [LAT]
Filed under:
Loading comments...