Friday, June 22, 2012

Financially-strapped Nevada city declared disaster - Yahoo! News

Financially-strapped Nevada city declared disaster - Yahoo! News: After five years of declining property taxes, massive layoffs and questionable spending, leaders of the blue-collar, family-oriented city outside Las Vegas declared a state of emergency, invoking a rarely used state law crafted for unforeseen disasters.

No matter that the statute, which allows municipalities to suspend union contracts and avoid paying scheduled salary increases, doesn't actually include fiscal emergencies among the list of potential disasters.

"It says, in case of 'emergency such as.' You can't list how many different types of emergencies there are in the world," City Council member Wade Wagner said of the move, which will save the city $9 million.

There are many cities across the nation grappling with declining property values and growing expenses like North Las Vegas, but few, if any, have declared financial emergency.
Apparently not even privatizing infrastructure and governance here in the heart of Privatopia was enough to make things pencil out.

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