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Detroit OKs Short-Term Fix: Borrow $137M

In an effort to stabilize a city teetering on bankruptcy, the Detroit City Council approved borrowing millions of dollars to help address a cash-flow problem that could lead to payless paydays and service cuts.

In an effort to stabilize a city teetering on bankruptcy, the Detroit City Council approved borrowing millions of dollars to help address a cash-flow problem that could lead to payless paydays and service cuts.

Caroline Cournoyer is GOVERNING's senior web editor.