Wanted: Office space for bankrupt city (RecordNet)

December 17, 2012 – Stockton City officials have launched a search for new office space so they can move out of the old City Hall building, which became iconic of Stockton’s bankruptcy this year for its cracked and crumbling exterior. The inside isn’t much better. The current Grecian-Ionic building on North El Dorado Street built in 1926 has outgrown its useful years, the city says. In 2007, Stockton issued $41 million in bonds to buy the former Washington Mutual building in the downtown. In its crisis, the city stopped paying, and Wells Fargo bank foreclosed.

Link to Full Article: http://www.recordnet.com/apps/pbcs.dll/article?AID=%2F20121217%2FA_NEWS%2F121219902%2F-1%2F

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