Central Falls High School

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Rhode Island City Declares Bankruptcy

Retiree health benefits sink city of Central Falls

(Newser) - Central Falls, Rhode Island, declared Chapter 9 bankruptcy yesterday, a virtually unheard of move prompted by a mass of unfunded pension and retiree health benefits. Central Falls, which Reuters calls "the smallest city in the smallest US state," has just 19,000 residents—yet it has a budget... More »

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