"This has been a long and sometimes difficult process for the residents of Highland Park," said State Treasurer Robert J. Kleine, Chair of the Emergency Loan Board. "Despite the ups and downs, Highland Park residents should be pleased that their elected representatives are committed to working together to ensure a return to self-governance in the not-too-distant future."

While local officials will assume control of the city's finances, the Mayor and City Council President have represented to Mr. Mason that they will abide by a number of provisions laid out to them in Mr. Mason's Final Directive. Should any of the provisions not be followed or acted upon, the Emergency Loan Board has authority to again place an Emergency Financial Manager into Highland Park. If the provisions are successfully carried out by Highland Park during the next year, the Emergency Loan Board will recommend to Governor Granholm that the declaration of financial emergency be lifted.