City of Hillview, Ky. files for bankruptcy

http://www.whas11.com/story/news/local/2015/08/20/city-hillview-ky-files-bankruptcy/32074799/

The city of Hillview, Ky. filed for bankruptcy protection, Chapter Nine, on Aug. 20.
The city’s attorney, Tammy Baker, said the city was in a land dispute with Truck America. Baker said the city agreed to buy 40 acres from the company and the dispute began when Truck America claimed the city was delinquent in payments. The two went to court, all the way to the Supreme Court, and the judge ruled against the city.
After interest the city owes $15 million, Baker said; the city had to file bankruptcy to stop gaining any more interest and get a payment plan they can handle.
Baker said residents will not see any losses in terms of city services. She said the city’s actions actually prevented that from happening.