financial stability agreement
Gov. Rick Snyder, Treasurer Andy Dillon and Detroit Mayor Dave Bing on Wednesday named the first three appointees to Detroit’s Financial Advisory Board.
With a deal finally in place between the state and Detroit on the city’s finances, one of the next steps to financial stability is to fill several high-profile positions.
In a move to avoid an emergency manager and potential bankruptcy, the Detroit City Council has voted to approve a financial stability agreement with the state.
City Council could be voting on what it calls a proposed financial stability agreement as early as Monday. If it’s voted down, Governor Rick Snyder could be forced to appoint an emergency manager.