In an effort to avoid the appointment of an emergency manager for financially struggling Detroit, Michigan Gov. Rick Snyder proposed the city enter into consent agreement, with a nine-member governor-appointed council overseeing the city's finances. Detroit Mayor Dave Bing rejected that and countered with a proposal, the Detroit Free Press reports.
* To get the city back on firmer financial ground, State Treasurer Andy Dillon was asked to compile a committee and conduct a formal investigation into the city's finances. That review has a March 27 deadline.
* Although Gov. Snyder is reluctant to assign an emergency manager for a city as large as Detroit, he said he would if no other resolution could be found, Reuters reports.
* With a consent agreement, Detroit leaders would have some extended powers of emergency manager. They would be accountable to the state committee and there would be no financial assistance tagged to the consent agreement.
* According to the Detroit News, Mayor Bing said he would not accept a consent agreement because it stripped elected leaders of too much power.
* Mayor Bing said he didn't trust Gov. Snyder's consent agreement as it puts the mayor on a tight leash and seems like a takeover of Detroit, Crain's Detroit reports.
* Mayor Bing said last week he was preparing an alternative agreement that would represent a more fair partnership between the city and state. Gov. Snyder said if the agreement achieved what the consent agreement intended to do, he would consider it.
* According to the Free Press, Mayor Bing submitted a Financial Stability Agreement on Sunday. Bing says he has no problem with accepting help from the state and built a state-run advisory panel that will monitor progress and report to the governor.
* Like the consent agreement, city and state will work to resolve short-term cash-flow problems and long-term structural problems. It establishes a budget and limits spending.
* Unlike the consent agreement, officials retain the power they were given by the electorate, Mayor Bing says.
Marilisa Kinney Sachteleben writes about people, places, events and issues in her home state of "Pure Michigan."