Pennsylvania's Capital Files for Bankruptcy: Report

Reuters

The Harrisburg, Pa., City Council passed a resolution on Tuesday night calling for a Chapter 9 bankruptcy filing, a city official said Wednesday.

According to media reports, the city filed the documents for a rare municipal bankruptcy with with a federal court after the vote. Bloomberg News reported the city listed liabilities of of $500 million and assets of $100 million.

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The state legislature is considering a bill that would call for an eventual takeover of the city and the forced implementation of a fiscal rescue plan.

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