Village Sheds Receivership

The Michigan state treasurer last week said Three Oaks, located in Berrien County, is out of state receivership. 

The state first took over the village in December 2008. The state-appointed emergency manager left after a year, and in the 22 months since, Three Oak’s financial position has improved.

“The village of Three Oaks is a terrific example of how local officials and stakeholders can work together, first with an emergency manager and then on their own, to ensure that a local financial emergency is remedied as quickly and responsibly as possible,” state Treasurer Andy Dillon said in a statement.

There are currently three municipalities under receivership in Michigan: Benton Harbor, Pontiac and Ecorse, and one school district, Detroit Public Schools.

For reprint and licensing requests for this article, click here.
Michigan
MORE FROM BOND BUYER