Monrovia City Manager Laurie Lile writes that, "Contrary to what you may have read in newspapers or heard on radio news reports, the City of Monrovia is not going broke."
She explains that it was a legal glitch, created when the state eliminated redevelopment agencies, that prevented Monrovia from refinancing its redevelopment debt. The legal problem has now been corrected, and Monrovia can pay its debts.
For an in-depth explanation: http://goo.gl/ToqBD
- Brad Haugaard
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