CHICAGO - Detroit is scheduled to price approximately $107 million of deficit funding bonds tomorrow, a move that would complete the first step of the city's plan to eliminate a two-year $248 million budget deficit.

A second step that would restructure $122 million of limited tax debt into unlimited tax debt will go before city voters in today's election. The restructuring would save the city $12.6 million a year in its general fund.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.