n">(Reuters) - said Detroit in"very serious financial situation,"as it is expected to be next year run of cash and needs to take action state to prevent a takeover, Mayor Dave Bing on Thursday.
Michigan's largest city has scarce projected cash of over $150 million by the end of March, said a statement from his Office.
To avoid that a State appointed emergency financial manager, must the city pension and health care and "inefficient services" such as transport and lighting, while Union contracts have to be negotiated before their next June new, the statement said.
"City Government has to live within its means," said Bing in the statement. "Continue doing business as there is not an option, our very serious financial situation." "The last thing, that I want is for Detroit to be run by an emergency financial manager, whether it me or someone else."
The State said that it is not considering an emergency Manager for Detroit now appointment.
Terry Stanton, a spokesman who said Michigan Treasurer Office, it has "No predetermination of Detroit's financial status or next steps."
"The first and most important objective is for emergency Manager in any Michigan community, Detroit, including avoid" Stanton said. "There is a clear procedure would follow, and it is inappropriate to speculate what can happen in the future."
STATE TAKEOVER AN OPTION
Detroit newspaper reported on Thursday, that thought Bing, a State appointed manager was possible and that he could fill this role.
This news was a surprise to Detroit City Council President Charles Pugh, who said the Council and Mayor had a plan to keep the city solvent.
Pugh said "we are all just point and path were, when we took the paper this morning and saw the headline," told of Reuters. "We were us agree that we take some time to develop this plan and then together again to the public."
Pugh said that Detroit required concessions from unions for healthcare and pensions and support for residents to reduce the service to reduce costs tied result. But he added that the city must not the State, which appoint a Manager.
"We must act." We irresponsibly the city money must run, ", he said." "We feel like we the know-how and determination that have done it." "We need an emergency Manager, the we do not."
The spectre of a state takeover of the Detroit finances arose earlier this year, such as bing 2012 presented his State budget the possibility of a takeover warning, when the city cut not spending.
In March adopted a State law comprehensive until Michigan ability in financially difficult local governments intervene and to appoint a supervisor. There were also state appointed Finance Manager change or terminate collective agreements with public sector workers.
The State has already appointed manager for the cities of Pontiac, Ecorse and Benton Harbor and for the public schools in Detroit. On Thursday, Michigan there started a review of the Highland Park School District finances.
Detroit shaky finances are a major concern in the municipal bond market. Evaluation is its debts in the junk e category, which dropped by high debt, decline in population and dim economic prospects in the city.
(Reporting by Karen Pierog;) (Edit by Leslie Eagle and Jan Paschal)
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