Sunday, November 11, 2012

Michigan emergency manager law: What's next after Public Act 4 repeal

Michigan emergency manager law: What's next after Public Act 4 repeal | MLive.com
4. Prospect of municipal bankruptcy: PA 4 was designed, in part, to help cash-strapped municipalities avoid bankruptcy by providing emergency managers with broad powers.
No city in Michigan has ever filed for Chapter 9, and Snyder has previously said he'd like to keep it that way.
But the governor on Wednesday acknowledged that, without PA 4, "the probability of municipal bankruptcies could increase, because that could really be the only option left."

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