Ted Orson, the bankruptcy attorney for little Central Falls, R.I., has fielded calls from around the country. “Many of them look at Central Falls as an example of how to do it right,” he said from Providence, where The Bond Buyer beginning Monday will host a symposium on distressed municipalities.

Central Falls, population 19,000 and merely one square mile, left Chapter 9 bankruptcy in September after only a 13-month stay. The city exited with a six-year financial plan, quickly implemented a balanced budget and its credit ratings improved, though still junk-level.

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