The city faces a $10 million budget deficit next year.
Eason told council members if Flint does not consider borrowing the money, there will be more cuts that could be like a "atomic bomb" to the community.
"I think it will give us a base line to, number one, start at ground zero, to reset the clock," Eason said, "and allow us to try and stop the bleeding in terms of deeper cuts in public safety, allow us to focus on jobs and economic development."
The administration is ready to ask the state for at least $13 million in a stabilization bond to help the city get its finances in order -- primarily to pay off the current deficit reduction plan. But this money would not bring back all the police officers and firefighters recently laid off.
A total of 46 police officers and 23 firefighters lost their jobs because of the budget shortfall.
Eason told council the city won't get out of its rut unless it starts fresh with its finances. He also said more cutting will result in more city services shutting down.
Council members questioned the idea of borrowing from the state.
"I'm not convinced right now, unless the bond restores services. If the bond is just to pay the deficit, then I'm not sure that's where we need to be," said Councilman Scott Kincaid.
Council President Delrico Loyd said he doesn't see any sense in taking on more debt. "Right now we don't need to look at adding any additional debt. Again, I've said this many times, when resources dwindle we have to manage better, and again, we're not doing that."
We'll have from Mayor Dayne Walling beginning on First at Four.
