RSS Feed
June 8th, 2012 
FAKE NEWS for the Zionist agenda Detroit Could Be Broke Within a Week
June 8th, 2012
Via: Detroit Free Press:
The city of Detroit will run out of cash a week from today if a lawsuit challenging the validity of a consent agreement is not withdrawn, city officials said this morning.
Jack Martin, the city’s new chief financial officer, said the city will be broke by June 15, but it should be able to make payroll for its employees. He said the city will be operating in a deficit situation if the state withholds payments on a portion of the $80 million in bond money needed to help keep the city afloat.
Deputy Treasurer Thomas Saxton told the city Thursday that the lawsuit against the consent agreement could force the state to hold back from the city $80 million in revenue sharing that was used, essentially, as collateral for interim refinancing of bonds issued in March so Detroit would not run out of cash.
Detroit has already used $35 million of the $80 million.
<!– AD CAN GO HERE
END: AD CAN GO HERE –>
Leave a Reply
You must be logged in to post a comment.
Posted in 
Tags: 
