CHICAGO — Following passage of a new state law aimed at assuaging investor fears of bankruptcy, the city of Ecorse next week will sell $9.3 million of financial recovery bonds, making it one of Michigan’s only municipalities to enter the bond market while under state-controlled receivership.
Located in Wayne County about 10 miles outside Detroit, Ecorse is a small, lower-income suburb that came under state-mandated emergency financial management in October 2009.
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