ðə nˈɛkst mˈʌnθ, ɪn dʒuːlˈaɪ nˈaɪntiːnhˈʌndɹɪd ˈeɪɾi θɹˈiː, dˌʌbəljˌuːpˌiːpˈiːˌɛsˈɛs dᵻfˈɔltᵻd ˌɔn dˈɑːlɚ tˈuː.twˈɛnti fˈaɪv bˈɪliən ʌv mjuːnˈɪsɪpəl bˈɑːndz, wˌɪtʃ ɪz ðə sˈɛkənd lˈɑːɹdʒɪst mjuːnˈɪsɪpəl bˈɑːnd dᵻfˈɔlt ɪn jˈuː.ˈɛs. hˈɪstɚɹi.
The next month, in July 1983, WPPSS defaulted on $2.25 billion of municipal bonds, which is the second largest municipal bond default in U.S. history.