- Associated Press - Thursday, March 27, 2014

ROYAL OAK TOWNSHIP, Mich. (AP) - Officials in Oakland County’s Royal Oak Township have decided to seek a consent agreement with Michigan in response to the community’s financial emergency.

Gov. Rick Snyder confirmed March 19 that a financial emergency exists in the impoverished community of 2,400 just north of Detroit.

The Daily Tribune of Royal Oak (https://bit.ly/1iFe1MD ) reports that the board last week selected a consent agreement over the options of accepting an emergency manager, seeking a neutral evaluation or moving toward Chapter 9 bankruptcy.

Michigan Treasury spokesman Terry Stanton says township officials have until late April to reach a deal with the state on how to overcome the crisis.

The state says the township’s funds have dropped and township officials failed to adopt a budget for this fiscal year before it began.


Information from: The Daily Tribune, https://www.dailytribune.com

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