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Orange Ca Government Finances

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CALIFORNIA | LOCAL
March 8, 1999 | Lesley Wright, (714) 966-7824
City officials are estimating that they will recover all of the $5.6 million the city lost in the 1994 Orange County bankruptcy, plus some interest, due to recent legal settlements. The bankruptcy, the largest of its kind in the United States, cost $1.6 billion in losses to cities, school districts and public agencies. Mayor Joanne Coontz said a variety of settlements should refill the city's coffers. This includes a $980,000 settlement with Hartford Insurance Co.
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CALIFORNIA | LOCAL
May 4, 1999 | Crystal Carreon, (714) 966-7835
Council members recently approved a new financial agreement with the legal team handling the case against Jeff Hambarian, the former vice president of Orange Resource Recovery Services who faces charges that he stole $4 million from the city. He has pleaded not guilty. The original agreement with the Costa Mesa firm of Rutan & Tucker called for a $30,000 limit on legal costs, an amount that has already been spent on the investigation, said City Atty. David A. De Berry.
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