In light of the City of Detroit filing for bankruptcy in court - read more from the Globe and Mail here
The question some have asked is:
Could what happened in Detroit occur here by a municipality in BC?
The short answer is no -- as BC Municipal debt is covered by checks and balances to ensure what happened in Detroit doesn't occur here
Watch a video below from CKPG interviewing Prince George City Councillor Cameron Stolz on the subject:
Meanwhile - Saanich Mayor and Chair of the Municipal Finance Authority Frank Leonard writes a thoughtful two page memo to all local governments on this subject which you can review here
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