[FREE Detroit - NO Consent] Hamtramck Under The EM Knife

[Free Detroit]

The State of Michigan has descended upon Hamtramck as its next target for Emergency Management through Public Act 436 of 2012. The step by step process is documented on the State Treasury page. At this point a hearing of the Emergency Financial Assistance Loan Board (ELB) is scheduled for June 11, 2013 at 10am in the Richard H Austin Building (Treasury), 430 W Allegan, Lansing, MI 48933. City executives can request a hearing in advance of the state scheduled meeting.

Hamtramck has previously declared a Financial Emergency with assistance from the State of Michigan under Public Act 72 of 1990. The date of that filing was December 2000.

Choices under the new law which are to be made by Governor Snyder with a recommendation from the ELB include: a consent agreement; an emergency manager; a neutral evaluation process; or
Chapter 9 bankruptcy. Even if the choice of Chapter 9 municipal bankruptcy managed by the Eastern District US is selected, the following provision of Act 436 maintains State of Michigan control rather than allowing local officials direct interaction through the bankruptcy.

"The Governor may place contingencies upon a local government, including the selection of an individual to act exclusively on behalf of the local government in any Chapter 9 proceedings."

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Posted By Free Detroit to FREE Detroit - NO Consent at 6/05/2013 11:15:00 AM