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Officials: City of Compton, Calif., may declare bankruptcy
by September

from Reuters

The City of Compton, Calif., a city of 93,000 people located on the outskirts of Los Angeles, must decide by Sept. 1 whether to seek bankruptcy, according to its two most senior financial officials. Such a move would see it join a growing number of deficit-hobbled California cities that have used the filing to restructure onerous debt loads. more

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