Stockton City Manager Bob Deis will retire Nov. 1 after three years on the job that included guiding the city into bankruptcy, officials announced Wednesday.

"It's been quite a ride," Deis said. "By November I will have accomplished what the City Council asked me to do when hired."

Deis said he will work with City Council before he leaves to help fund the "Stockton Recovery Plan," which includes a tax proposal to fund police, and the plan of adjustment that will outline the city's exit from bankruptcy.

The city announced Wednesday it has reached an agreement on medical benefit claims with its retirees, the largest group of unsecured creditors in the bankruptcy case.

City officials have said they will likely have a plan ready for exiting bankruptcy by the end of summer or early fall.

Stockton, a city of 300,000 in California's Central Valley, became the largest city in the country to enter bankruptcy after a federal judge in April approved the city's eligibility for Chapter 9 protection, nine months after it filed for relief and following a three-day trial over challenges by bond market creditors.

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