Reuters: Bankruptcy News: Michigan to send Detroit $10 mln, begins review of city

Reuters: Bankruptcy News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Michigan to send Detroit $10 mln, begins review of city Dec 11th 2012, 21:54 Tue Dec 11, 2012 4:54pm EST Dec 11 (Reuters) - Detroit will get $10 million after its city council took action on Tuesday on key measures tied to financial reforms, but the state of Michigan still launched a review that could culminate in an emergency financial manager for the city. Terry Stanton, a spokesman for Michigan's Treasury Department, said the council's action met conditions agreed to by the state and Mayor Dave Bing for the release of $10 million of money raised through a bond sale earlier this year. He added that department began a 30-day preliminary review of the cash-strapped city's finances on Tuesday.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions