When do we know that a city is "officially" bankrupt? When contributions to employee health plans can no longer be made When the city cannot pay bondholders on interest or retirement costs When there is no money for regular salaries When the city is unable to meet operating costs such as rents and utilities

Answer rating: 100% (QA)

When a city is regarded as legally insolvent and fails to pay its debts it is referred to as being o... View the full answer