Royal Oak Twp. board seeks consent agreement

ROYAL OAK TOWNSHIP (AP) -- Officials in Oakland County's Royal Oak Township have decided to seek a consent agreement with Michigan in response to the community's financial emergency.

Gov. Rick Snyder confirmed March 19 that a financial emergency exists in the impoverished community of 2,400.

The Daily Tribune of Royal Oak reports that the board recently selected a consent agreement over the options of accepting an emergency manager, seeking a neutral evaluation or moving toward Chapter 9 bankruptcy.

Michigan Treasury spokesman Terry Stanton says township officials have until late April to reach a deal with the state on how to overcome the crisis.

The state says the township's funds have dropped and township officials failed to adopt a budget for this fiscal year before it began.

Published: Mon, Mar 31, 2014