Detroit schools plan $121 million note sale to refinance debt as enrollment slumps

Elizabeth Campbell Bloomberg News - The Detroit school system, which is being run by a state-appointed manager because of its financial strains, is planning to sell $121 million in tax-exempt notes this week as it struggles with shrinking enrollment.  The notes, which mature in August and are being sold through the Michigan Finance Authority, will refinance debt to help cover the schools’ budget shortfall, according to offering documents. The sale is expected to price on Thursday, Michelle Zdrodowski, a