Stockton to File for Bankruptcy

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STOCKTON, Calif (FOX 40) - Stockton's City Council voted in favor of a budget that would allow them to function during bankruptcy Tuesday night.

The move starts the process that will make the city the largest one in the nation to file for bankruptcy.

The next step for the City would be to officially file formal bankruptcy by tomorrow night.

The city of 291,707 had been suffering under the weight of a $700 million debt.

Mayor Ann Johnston said that bankruptcy is the best option.

Public comment during the city council session was lively and at times heated.

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Stockton to File for Bankruptcy - Central Coast News KION/KCBA

Stockton to File for Bankruptcy

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