State lawmakers are weighing a financing plan to help stabilize the city of Lawrence and stave off possible bankruptcy.

A hearing on the plan has been scheduled by the House and Senate Ways and Means Committees for Tuesday at the Statehouse with top officials from the Patrick administration and the city.

Gov. Deval Patrick last month filed a bill that would help Lawrence by allowing it to borrow up to $35 million to balance its 2010 and 2011 budgets.

The bill also would require a state-appointed fiscal overseer to monitor the city’s finances and recommend whether the state should appoint a finance control board. A similar board helped lead Springfield out of a recent fiscal crisis.

The city of 71,000 faces a financial deficit of about $17 million. (AP)