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Operational Agreement Summary
Information and InstructionsOperational Agreements (OA) (also referred to as a Memorandum of Understanding
(YOU)) are a formal agreement, without the exchange of money,
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Chapter 9 is a provision of the U.S. Bankruptcy Code that allows municipalities to reorganize their debts.
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Only municipalities, such as cities, towns, or counties, are required to file for Chapter 9.
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To fill out Chapter 9, a municipality must file a petition with the court, including details about its debts, assets, and the proposed plan for reorganization.
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The purpose of Chapter 9 is to allow municipalities to adjust their debts while continuing to provide essential services to their residents.
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Municipalities must report financial information, including debts, assets, income, and expenses, as well as a proposed plan for debt adjustment.
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