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Tuesday, March 27, 2012

''Short-term fix for Detroit: Borrow $137 million; but some opposed measure''

From Freep

"In an effort to stabilize a city teetering on bankruptcy, the Detroit City Council on approved borrowing millions of dollars to help address a cash-flow problem that could lead to payless paydays and service cuts.

And Deputy Mayor Kirk Lewis was looking for even money, but from the state. Lewis insisted that any agreement between the state and city to avoid the appointment of an emergency manager would need to come with an additional infusion of cash from the state."

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