Terry Stanton News
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Localities from Florida to California are selling taxable bonds at the fastest pace in three years as the additional cost of issuing the debt instead of tax-free financing is near the lowest since 1994.
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Michigan’s resurgent economy has it poised for the best credit rating in eight years and is pushing borrowing costs to a record low, showing investors are distinguishing the state’s finances from those of its biggest city.
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Michigan Governor Rick Snyder’s formal declaration that a financial emergency besets Detroit started the clock ticking for city leaders who may want to try to block a state takeover. It gave them 10 days.
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A Michigan judge permanently barred a review team studying Detroit’s finances from holding closed- door sessions, handing a legal victory to city employees.
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Michigan’s blue-collar dream of owning a vacation home is going the way of the gas guzzler.
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Detroit’s finances will be given a preliminary review by state officials starting Dec. 6, Michigan Treasurer Andy Dillon said, in what may be the first step toward the appointment of an emergency manager.
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The law that threatens Detroit with direct state rule may be repealed through a petition drive powered by unions and residents opposed to white control of a city that’s 82 percent black.
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A Michigan judge ordered a review team appointed by the governor to study Detroit’s finances to stop meeting in private.
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The Detroit financial review board isn’t required to hold open meetings under Michigan law, an appeals court ruled in a case growing out of the city’s budget crisis.
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Detroit has 10 days to agree to a financial recovery plan that would forestall the appointment of an emergency manager by Michigan Governor Rick Snyder, a state review panel decided.
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