In all, 67,000 pensioners will decide if they agree with the four-and-a-half percent cut that the city says is necessary to move forward to solvency.
Lawmakers introduced legislation late Thursday to use about $195 million from Michigan’s savings account to help bankrupt Detroit.
The details were in Detroit’s latest strategy plan filed Monday.
Kevyn Orr is in Lansing updating lawmakers on the city’s bankruptcy as they consider a potential vote on a financial bailout to help Detroit emerge from insolvency.
The spokesperson for Detroit’s Emergency Manager Kevyn Orr is thanking Hyundai for saving his life.
Detroit’s bankruptcy proceeding have delayed Mayor Mike Duggan’s budget address before the Detroit City Council.
A bankruptcy court filing from the city says negotiations have run their course.
The $85 million “swaps deal” is a key to Emergency Manager Kevyn Orr’s plan to restructure Detroit’s overwhelming debt.
“How are we going to be able to recruit firefighters and police officers. How are we going to be able to retain firefighters and police officers?”
Former Detroit Mayor Dave Bing blasted former treasurer Andy Dillon for “lying repeatedly” to him during conversations between the state and city.