Caitlin Devitt

The Indiana Attorney General last week said he would not investigate the controversial $4.5 billion bond-financed Prairie State Energy Campus located in southern Illinois.

For the first time in more than 40 years, Ohio will stop subsidizing property taxes for new levies, a move that could make voters more reluctant to approve borrowing requests.

A judge last week ordered Cook County, Ill. to stop collecting a new tax that the county began to levy last year to help offset a 2013 budget deficit.

Michigan Attorney General Bill Schuette said he will join Detroit's bankruptcy in his role as "the people's attorney" to defend retirees' pensions.

Ohio is offering $1.1 billion of bonds backed by a new junior-lien credit pledge from the Ohio Turnpike Tuesday in a transaction key to the state's plan to shore up its long-term infrastructure spending.

Detroit's bankruptcy may be "profoundly meaningful" for distressed local governments, answering key questions about pension versus bond debt, and clarifying the strength of various bond securities, Moody's said.

Michigan advanced a plan to issue $450 million of private activity bonds for a hockey arena and entertainment district in downtown Detroit, not long after asking many Detroit bondholders to take stiff haircuts as the city seeks bankruptcy protection.

The bankruptcy judge overseeing Detroit Wednesday halted all lawsuits related to the city's historic bankruptcy filing, handing Detroit a key early victory and clearing the way for it to proceed with what would be the largest municipal bankruptcy filing in the U.S.

The Michigan Court of Appeals Tuesday granted state Attorney General Bill Schuette's request to halt an Ingham County circuit court judge's ruling that Detroit withdraw its bankruptcy petition.

Taking advantage of a new state law, Michigan said Monday it will dissolve a pair of cash-strapped school districts after the districts failed to secure adequate private financing to allow them to remain open for another year.

The first hearing in Detroit's historic Chapter 9 bankruptcy case is set for Wednesday.

The Securities Industry and Financial Markets Association warned Michigan Gov. Rick Snyder that the approach he is backing in Detroit's bankruptcy will cost cities across the state and urged him to uphold the city's unlimited-tax general obligation bond pledge.

Litigation is already stalling Detroit's effort to file for Chapter 9 bankruptcy protection.

As detroit enters into what would be the largest municipal bankruptcy in the u.s., ratings agencies said the outcome may have a negative impact on unlimited-tax general obligation bonds in future credit analysis.

An Ingham County Judge Friday afternoon said Detroit's bankruptcy filing is unconstitutional and ordered it withdrawn.

Detroit emergency manager Kevyn Orr said Friday he expects an eligibility fight over the city's petition to file for Chapter 9 bankruptcy protection, but that his plan to pay creditors between 10 cents and 20 cents on the dollar should make for a speedy process.

Detroit filed a flurry of court papers late Thursday in support of its historic Chapter 9 request, including an outline of creditor negotiations that says the lack of representation and organization among creditors, including bondholders, made it impossible to reach settlements.

Detroit filed for Chapter 9 bankruptcy Thursday, a historic move that marks the largest municipal bankruptcy filing to date. It's also a first for Michigan, and the first time a state's largest city has filed.

Detroit's two retirement systems sued Michigan Gov. Rick Snyder and Detroit emergency manager Kevyn Orr, saying Detroit's "imminent" Chapter 9 bankruptcy would violate state constitutional protections.

Fitch Ratings said Tuesday it's continuing to monitor the $5.9 billion of Detroit water and sewer bonds, but noted that the debt enjoys strong legal protections in or outside of a Chapter 9 filing.