Chapter

The Road to Recovery

Mark Baldassare

in When Government Fails

Published by University of California Press

Published in print January 1998 | ISBN: 9780520214859
Published online March 2012 | e-ISBN: 9780520921368 | DOI: http://dx.doi.org/10.1525/california/9780520214859.003.0006
The Road to Recovery

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This chapter tells the amazing story of how Orange County was able to recover from the largest municipal bankruptcy in U.S. history in only eighteen months. It analyzes the reasons for the defeat of the Measure R sales tax measure and looks at its political aftershocks. It reviews the consensus plan that emerged and the state legislation that enabled Orange County to pay its bills without raising taxes or benefiting from a state bailout. It then considers the ongoing story of the post-bankruptcy fiscal recovery. This story includes legal actions against county officials, lawsuits against the firms who did business with the county officials, and mounting costs as a result of the Orange County bankruptcy. It is a great irony that the fate of the state legislation for the Orange County recovery was dependent on Los Angeles County.

Keywords: Orange County; bankruptcy; Measure R; sales tax; legislation; fiscal recovery; lawsuits; Los Angeles County

Chapter.  13654 words. 

Subjects: Social Research and Statistics

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