Posted: Jul 24, 2012 8:45 AM by Associated Press
EL MONTE, Calif. (AP) - A Southern California city is looking for a sugar fix.
El Monte city leaders want to impose a penny-per-ounce sugary drink tax to infuse an expected $7 million annually into its dwindling coffers. Like other California cities, lower revenues, higher labor costs and a decrease in state funding are causing financial stress.
Finance director Julio Morales says the San Gabriel Valley suburb 13 miles east of downtown Los Angeles needs the tax as a protection against insolvency in the future.
Morales stresses that El Monte isn't on the edge of bankruptcy, saying the city is simply doing financial planning.
The Los Angeles Times says the City Council will consider a fiscal emergency declaration on Tuesday.
It will allow the city to hold a special election this fall for the tax proposal.
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