Detroit Bonds

[emu steve]

I find this article about Detroit's bonds used to exit bankruptcy interesting for several reasons including certain things related to Detroit's financial outlook:

http://www.detroitnews.com/story/new...ting/30835941/

1). Monies to pay the P&I on these bonds will come from city income taxes which are directly deposited with the trustee. That's about as good as it gets for the trustee who is responsible to the bondholders. They're solid.

2). Not really related to the monies to pay the P&I, but tax revenues have increased the last four years. That is good news. Would like to know more. How much more: 2%? 5%? 10%?, etc. Some cities and states are seeing significant increases in revenues. D.C. and the Commonwealth of Virginia are two I'm familiar. I understand general fund revenues for the state of MI are up significantly.

3). Monies will be used to improve the financial management system and police and fire fleet. All valuable infrastructure and governance needs.