The latest in a series of reports that document Detroit’s financial collapse is coming fast and furious.
For the past five years, the city of Detroit has been on the verge of bankruptcy.
It is the second largest city in the United States.
The city’s bankruptcy petition filed in December 2017 by bankruptcy trustee Bankruptcy Judge David C. DeWitt includes numerous issues related to its finances, from pensions to public safety.
The bankruptcy filing also lays out the city’s plans for the future, including its planned $5.3 billion redevelopment of downtown Detroit and its plan to add another million people to the city by 2030.
In the process, the bankruptcy petition also sets out the kinds of changes needed to protect taxpayers from the looming bankruptcy.
While the petition sets out a number of measures that can be taken to help the city avoid a financial crisis, it also outlines a number that could prove disastrous for residents, business owners and other stakeholders.
For instance, DeWitte says that he wants to build a new bridge between downtown and downtown Detroit to make it easier for people to move to the new city.
And that bridge, according to the bankruptcy filing, is to be built at a cost of $2.8 billion, with the federal government and the city funding $1.2 billion.
“If we are going to build this bridge, I think we need to do this in a way that it’s going to be economically viable and economically responsible for the people of the city, not just for the politicians and the bondholders,” DeWits said.
But if the bridge were built, the new bridge would cost taxpayers more than $1 billion.
And if that bridge were to be funded by bondholders, it would cost Detroit taxpayers $3.6 billion.
The cost of that bridge alone would be enough to bankrupt the city.
A plan for an $8.3 million bridge to connect downtown Detroit with the rest of the state would also bankrupt the state.
DeWitt’s bankruptcy filing cites $2 billion in debt owed to local governments, which could be used to fund the project.
In a letter to state officials, De Witt said that the $2bn debt was due to the “disruptive nature of the City of Detroit’s finances.”
The bondholders would have to repay the debt in full in 10 years, according a letter from DeWittle’s bankruptcy trustee, James R. Gaudet.
That means that the bond holders would owe Detroit taxpayers about $3 billion.
“I think the bond issue needs to be taken care of and this is an opportunity for the city to get this bond issue funded,” said Robert K. Smith, president of the Michigan Association of Counties.
The bond issue could have dire consequences for Detroit residents, Smith said.
“They could have a huge liability that they could pay, and the taxpayers could end up paying $1 or $2 to the bondholder, and then you would have a massive increase in debt.
And then it could also lead to more bad debt,” Smith said, noting that a bond issue like this could have consequences for the Detroit economy.
Smith said the state should also take the lead in providing financing for the bridge project.
The state’s Department of Treasury has agreed to provide about $1 million of the $8,000,000 bond needed to build the bridge.
Smith said the bond should be repaid in full by 2020.
Smith also called on the federal, state and local governments to agree to a series on economic development and transportation infrastructure.
That includes a plan to improve traffic and access to Detroit’s downtown.
The federal government has been asked to contribute $3 million.
Smith’s office has not responded to requests for comment on the bond proposal.
De Wits has said that he expects to provide more information on the proposal as it becomes available.
The Detroit bankruptcy filing comes just as the state has filed an emergency request to the federal Treasury for $5 billion in emergency funding.
The emergency request has not yet been approved.
Read more stories from the Detroit bankruptcy: Detroit bankruptcy: The biggest threat to Detroit in yearsThe Detroit economy faces a $6 billion hole by the end of this year, and more than 400,000 people are in the city with no jobs.
A look at what has happened since the city filed its petitionThe Detroit metropolitan area is home to more than 3 million people, with roughly 2.5 million people living in poverty.
About 20 percent of Detroit residents live below the poverty line, and Detroit ranks as the worst-ranking city in America for income inequality.
Since the bankruptcy, Detroit has struggled with unemployment rates above 16 percent.
As a result, a record number of Detroiters are still in poverty and some residents are living in trailers and in emergency shelters.
About 25 percent of residents of Detroit live below 100 percent of the poverty level. Dismant