|Oct. 30, 2014
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Makes Detailed Findings that Plan Conforms to Bankruptcy Code in All RespectsIn a proceeding today lasting just over two hours, U.S. Bankruptcy Court Judge Christopher Klein rejected the claims of the remaining holdout creditor, Franklin Templeton Investments, and approved the city of Stockton’s proposed Chapter 9 Bankruptcy Plan of Adjustment. The judge detailed the various classes of creditors and the extent to which they would be paid. He specifically refused to categorize the $32 million Franklin unsecured claim as a separate class, leaving it in a class of even larger unsecured claims, effectively rejecting Franklin’s claim of discrimination. The court previously ruled that roughly $4 million of Franklin’s $36 million claim was secured.
Meetings and Events
Meetings and Events, Fiscal Officers
FAQ on the Governmental Accounting Standards Boards (GASB). This FAQ was developed in response to the recently release of two related GASB statements that substantially change the accounting and financial reporting of pensions for CalPERS and CalPERS employers. Statement No. 67, Financial Reporting for Pension Plans, affects the financial statements of CalPERS. Statement No. 68, Accounting and Financial Reporting for Pensions, affects the financial statements of employers.
Municipal Finance, Employee Relations
California city Solutions. Lancaster’s 24-Hour Recycling Center was submitted in 2014 for the Planning and Environmental Quality award category.
CA City Solutions, Helen Putnam, Environmental Quality
a post-election webinar on Nov. 7 from 10-11 a.m. They will walk through the election results and discuss the impacts on legislative priorities that matter most to cities.
NLC, Meetings and Events
Housing, Grants and Funding
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