The govenor is supporting this and hoping everyone else does too.
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The Michigan Legislature’s $195 million lifeline to help prevent steep cuts in Detroit’s pensions and the sale of city-owned art is being hailed as a major step forward in ending the largest public bankruptcy in U.S. history.
The state funds will join commitments from 12 foundations and the Detroit Institute of Arts to shore up Detroit’s two retirement systems. The city’s art museum and its assets would be transferred to a private nonprofit.