Villaraigosa Puts Bankruptcy “Gun to Head’ of Council on DWP Rate Hikes
Mayor Villaraigosa sent a letter to the City Council Tuesday warning that rejection of the DWP rate hikes of 20 to 30 percent would cause the city to run out of cash and face bankruptcy within four months because the utility would not be able to transfer its full “surplus” of more than $200 million from the power fund, the Times reported.
Council Unanimously Takes Jurisdiction
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Councilwoman Jan Perry opened the City Council’s consideration Tuesday of a motion to take jurisdiction of the DWP rate hikes approved last week by reading a letter she gave to each member:
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