Michigan is posed to enact a law giving the governor the power to appoint an Emergency Financial Manager for any town, with the power to re-write any contract written by any local government, dis-incorporate towns and school districts (thus firing elected officials), so long as he first declares there is a financial emergency.
By a most amazing coincedence, Michigan has also passed a number of tax cuts that are very likely to create a financial emergency in many of Michican's towns.
Text of bill - note that it REQUIRES that a majority of the "Michigan Emergency Financial Commission" be executives of for-profit corporations.
On the plus side, this means that town residents may have their town's taxes spent not by their democratically elected mayors and so forth, but persons who are not only not elected by anyone but not even residents of their towns. This is classic "Disaster Capitalism" (Rachel Maddow discusses the details with Naomi Klein)
Didnt this sort of thing end up with tea in Boston Harbor?