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DETROIT (AP) - The city of Detroit will run out of cash by June unless the City Council gives Mayor Kwame Kilpatrick permission to borrow $130 million to cover its bills, the city finance department says.
The money would be used to pay off $74 million owed to the city's pension fund for last year and other bills.
"Without the bonds, it would make our cash situation very difficult," interim finance director Roger Short told The Detroit News for a story published Wednesday.
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