Judge Rejects Challenge to Detroit-Michigan Consent Agreement

An Ingham County, Mich., Circuit Court judge Wednesday threw out a lawsuit challenging Detroit’s consent agreement with Michigan, allowing the city to narrowly avert a cash crisis that threatened its ability to make a Friday bond payment. Mayor Dave Bing stressed that the city would now have the funds needed to make a $34.2 million payment due on its outstanding pension certificates of participation, as the state is now expected to free up funds as part of its April consent agreement, which was designed to stabilize Detroit’s finances.

Bond Buyer


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