CHICAGO — In another move aimed at helping fiscally stressed municipalities enter the bond market, Michigan lawmakers have sent Gov. Rick Snyder legislation that would allow them to refinance outstanding financial recovery debt.

HB 4716 is crafted to help Highland Park, which is under emergency management, refinance $28 million of variable-rate financial recovery bonds issued in 2008 to fund pension obligations.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.