In re: City of Stockton, California

FILED DEC 11 2015 1 SUSAN M. SPRAUL, CLERK 2 U.S. BKCY. APP. PANEL OF THE NINTH CIRCUIT 3 UNITED STATES BANKRUPTCY APPELLATE PANEL 4 OF THE NINTH CIRCUIT 5 In re: ) BAP No. EC-14-1550-DJuF ) 6 CITY OF STOCKTON, CALIFORNIA, ) Bk. No. 12-32118-CMK ) 7 Debtor. ) ______________________________) 8 ) FRANKLIN HIGH YIELD TAX-FREE ) 9 INCOME FUND; FRANKLIN ) CALIFORNIA HIGH YIELD ) 10 MUNICIPAL FUND, ) ) 11 Appellants, ) ) 12 v. ) OPINION ) 13 ) CITY OF STOCKTON, CALIFORNIA, ) 14 ) Appellee. ) 15 ______________________________) 16 17 Argued and submitted on November 19, 2015 at Sacramento, California…