After three hours of angry public comment, Detroit City Council Tuesday rejected a legal contract with public finance firm Miller Canfield that the state said is needed to win release of badly needed bond proceeds from a state-controlled escrow account.
Detroit Council Rejects Key Miller Canfield Contract, Endangering Badly Needed Cash
Before the financial crisis of 2008-09, it would have been significant news if yields on municipal bonds had exceeded those on Treasury securities at any maturity, and that occurrence likely would have attracted a variety of investors seeking to take advantage of the relative-value opportunity.
the bond buyer conferences
September 25-27, 2013JW Marriott LA Live, Los Angeles, CA
October 27-29, 2013Crowne Plaza Times Square Manhattan, New York, NY