Ferguson mayor asks company for help as reserves dwindle
FERGUSON (AP) - The city of Ferguson has turned to a Fortune 500 company based in the St. Louis suburb for financial assistance.
Ferguson's finances were deteriorating before Michael Brown's shooting death by police spurred protests and looting.
The city's reserves were $25 million in 2013, a figure anticipated to decline to $4.8 million by June 2016. The city also has run a multimillion-dollar deficit over the past two years.
The St. Louis Post-Dispatch reports Mayor James Knowles III and former city manager John Shaw met last week with officials from Emerson, an international manufacturing and technology company.
Emerson said in a statement that it pays county taxes and supports community events.
Shaw was among the leaders who resigned after a Justice Department report said Ferguson used racist policing and court practices.