Lesson to mayors and city councils... exercise your financial power wisely, or you'll lose your power to the state.
Lesson to voters... exercise your vote wisely and do not elect people on the basis of their ability to deliver goodies to you, or you'll lose your power to the state.
Lesson to state... change the laws to limit the power of cities to put today's expenses on tomorrow's taxpayers, or you'll have to assume power in cities that you really don't want.
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