Terms Set for Hamtramck, Mich., to Control Finances

Carvlin, Elizabeth
August 2003
Bond Buyer;8/13/2003, Vol. 345 Issue 31698, p7
Trade Publication
Reports on several requirements set by Michigan's Emergency Loan Board regarding control of finances of the city of Hamtramck under state's first appointed financial manager Louis Schimmel as of August 13, 2003. Reason behind the desire of Schimmel to make changes to a contract that would allow him to leave once the city meets its requirements; Legal disputes to be settled before Schimmel leaves the organization; Struggle of Schimmel with the City Council regarding sale of a city-owned property to balance the budget.


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