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A $18 billion debt is coming due, and it’s haunting small town in Michigan

MARCH 1, 2019 | by Ted Roelofs | BRIDGE (MICHIGAN)

Once a mining community, Iron Mountain is probably more famous now as proud home town to Michigan State University men’s basketball coach Tom Izzo. But this Upper Peninsula city is also notable these days for something no one brags about … Hefele called a bond issue ‘our only way out. Otherwise we could be looking at bankruptcy.’

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