Bankrupcy Could Cost Schools
P-G-and-E´s filing for bankruptcy protection could spell hard times for small California counties that depend
on revenue for schools and other services.
P-G-and-E´s filing Friday came only four days before the utility is to make 80 (m) million dollars in property
tax payments to 49 counties.
Bankruptcy laws usually require that government obligations,including taxes, be paid first. But there is uncertainty over
whether the financially crippled P-G-and-E can pay.