4. Resolution About State Assumption of Bonding Debt. This Resolution was not properly and timely
forwarded to the Emergency Loan Board. January 22, 2015
Resolution to Recommend State Assumption of the Bonding Debt of the City of Detroit School Bonds as
an Alternative to the Emergency Manager’s Proposal to Refinance & Extend Said Bonding
Whereas it is with great reluctance and hesitancy that we the Detroit Board of Education recommend any
proposal without the requisite support, experts and counsel;
Whereas our Honorable body has made it clear, we have an inability to comply with the necessary due
diligence as outlined in PA 436 of 2012;
Whereas nevertheless, we are compelled under Law to make such recommendations;
Whereas Judge Berry did instruct the Emergency Manager to allocate the funds necessary for consultants,
experts, and legal counsel for the 2013-2014 academic calendar year during complete expected tenure of
the Emergency Manager, in order that this body may comply with the provisions under PA 436;
Whereas, the Governor has appointed a new Emergency Manager, after the timeframe specified by the
Judge’s decision, but has not continue to provide consultants, experts and legal counsel to advise us during
this academic calendar year under his extended Emergency Management, and;
Whereas, it is our sincere belief that to extend these bonds without an elected Boards oversight is taxation
without representation.
THEREFORE LET IT BE RESOLVED, we recommend that these bonds be assumed by the State of
Michigan and not the Taxpayers of the City of Detroit.
5. Request to Meet February 4, 2015
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