Business

State Treasurer approves changes to Pontiac governance structure

PONTIAC, MI – State Treasurer Nick Khouri today, signed off on amendments to two existing emergency manager orders that will provide additional authority to the City of Pontiac’s mayor and city council, following a recommendation approved by members of the city’s receivership transition advisory board (RTAB) today. Pontiac

Effective immediately, the mayor and city council will have authority to conduct city business as outlined in the City Charter, with certain conditions, among them gaining RTAB approval for on-going litigation, issuing debt, contracts of $500,000 or more, and any changes to collective bargaining contracts, and pension/health care changes.

“This is an important day for the people of Pontiac,” Gov. Rick Snyder said. “Thanks to the significant progress city leaders have made by working with the RTAB, this is an appropriate time for the mayor and city council to assume greater responsibility for day-to-day operations. I am certain they will work diligently to ensure Pontiac remains on solid financial footing in the years ahead, which means more success for the city and its residents.”

Pontiac began the transition to local control in August of 2013, when Gov. Snyder announced that the financial emergency in Pontiac has been resolved and appointed the RTAB to ensure a smooth transition and guide the city to continued financial stability.

Under resolutions approved today, the RTAB will meet “as needed” in the future with the city responsible for submitting quarterly reports to the RTAB.

Sharing Options
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  

Categories: Business, SE Michigan

Tagged as: