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News Link • TAXES: Local

City officials: Detroit will go broke in a week if consent deal lawsuit isn't withdrawn

• Detroit Free Press

Detroit will run out of cash a week from today if a lawsuit challenging the validity of the city's consent agreement with the state is not withdrawn, city officials said this morning.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 should be able to make payroll for its employees. 

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