Detroit could run out of cash this week
DDETROIT, Mich.-- Detroit is facing a full-fledged takeover by the state.
The Motor City could run out of cash this week! That's if a lawsuit challenging an agreement with the state to fix the city's finances isn't dropped.
Pressure is mounting on the city's top lawyer Krystal Crittendon to drop the lawsuit after the state threatened to with hold $80 million in revenue-sharing payments to the city.
Detroit Mayor Dave Bing said he does not have the power to force Crittendon's hand under the new city charter.
Monday, Bing will meet with the city council to determine what if anything to do about a lawsuit challenging the legality of the consent agreement.