Update 11:15 a.m.:
Robert Bobb, the financial manager of Detroit Public Schools, has asked state lawmakers to borrow funds for the school district. The Associated Press reports:
Bobb said Wednesday during an appearance before a joint session of the state Senate and House education committees that draft legislation for his plan would be submitted within about a week.
The plan would include the state helping to guarantee the school district won't go into bankruptcy. Bobb said the district does not plan to file for bankruptcy.
Bobb said the plan would not cost the state "one dime."
Bobb said the district plans to borrow more than $200 million in March. He wants his legislation approved by April 1.
Robert Bobb, the emergency financial manager of the Detroit Public Schools, will testify today at the state Capitol. He'll appear before a joint session of the state Senate and House education committees.
The Associated Press reports:
He's expected to talk about the district's turnaround plan including finances and academics. Bobb was appointed as the Detroit district's emergency financial manager by then-Gov. Jennifer Granholm in early 2009. Bobb has feuded with the elected school board over control of the district.