Mealey's Bankruptcy - City Of Stockton, Calif., Plans Tax Hike To Raise $28M For Debt Adjustment Plan

Mealey's Bankruptcy - City Of Stockton, Calif., Plans Tax Hike To Raise $28M For Debt Adjustment Plan

SACRAMENTO, Calif. - The bankrupt City of Stockton, Calif., on Feb. 3 filed a brief in the U.S. Bankruptcy Court for the Central District of California supporting the confirmation of its financial plan, which it says will raise $28 million annually in new revenue based on a 0.75 percent sales tax increase (In Re: City of Stockton, Calif., No. 12-32118, Chapter 9, C.D. Calif. Bkcy.).

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