Caitlin Devitt

A House committee last week approved a long-stalled bill that would fund a $1.3 billion mass-transit expansion in central Indiana.

Days after the close of a controversial liquor-backed bond deal that generated a $500 million cash payment to the state's coffers, Gov. John Kasich said the money would go into the state's rainy-day fund and trigger an automatic taxpayer refund.

Detroit Mayor Dave Bing announced the city would close 50 parks, whittling the number of open parks down to 57, after the city council rejected a proposal to lease the city's largest park to the state for 30 years.

City officials recently warned that the Detroit suburb of Allen Park, which is already under state control, could run out of money by the end of February, and a new audit raises questions about the city's ability to continue "as a going concern."

A deal that would have allowed the state to lease Detroit's largest and most popular park and issue bonds to fix it up may be dead after city council tabled it and Gov. Rick Snyder withdrew the offer.

JobsOhio sold $1.56 billion of liquor profit-backed bonds Monday and Tuesday despite unresolved litigation that scared some investors away, seeing spreads of up to 137.5 basis points above Treasury rates on the taxable series.

Joan Marron has taken over as executive director and head of Morgan Stanley's health care group after former co-head David Ertel left for another job.

A North Dakota Senate committee voted against a bill that would allow school districts to tap city sales tax to pay debt service on bonds.

Moody's Investors Service Monday downgraded to A2 from A1 its underlying rating on Jackson Public Schools ahead of a planned refunding of $11.2 million of general obligation bonds.

A bill that would expand Indiana's gambling industry is headed to the Senate Appropriations Committee after the Senate Public Policy Committee unanimously approved the measure last week.

Fitch Ratings last week upgraded to BBB from BBB-minus its rating on The Methodist Hospitals, reflecting the northwest Indiana system's improving financial performance.

JP Morgan and Citi were set to price $1.5 billion of liquor-backed bonds issued by JobsOhio Monday and Tuesday despite delaying the deal last week when the state Supreme Court announced it would hear a case challenging the state law authorizing the bond sale.

The $1.5 billion JobsOhio bond deal set to price Wednesday and Thursday is delayed, sources said, after the state Supreme Court announced it would hear a case that could challenge the constitutionality of use of the bond proceeds.

The large scale changes sweeping the nonprofit health care sector, chief among them changes in payment methods, are driving the record-setting consolidation trend among hospitals, Fitch Ratings says.

Indiana would become the lastest state to considering floating bonds to pay off a massive federal unemployment insurance liability if the General Assembly approves a bill introduced last week.

Moody’s Investors Service last week downgraded to A1 from Aa3 its rating on West Clermont Local School District and affirmed its negative outlook on the suburban Cincinnati district.

After months of debate, Indianapolis Mayor Greg Ballard and leaders of the City-County Council have tentatively agreed to several proposals, including a pair of tax increases, to the city’s $1.1 billion budget.

Lawmakers as soon as Wednesday are set to begin debate on a series of bills to revamp the state's gaming and casinos laws in an effort to boost competitiveness with Ohio, Michigan, and Illinois casinos.

As the JobsOhio Beverage System prepares to sell $1.5 billion of bonds this week to finance a long-term lease of Ohio's liquor system, investors say a chief concern is an unsettled lawsuit challenging the privatization and lack of a back-up pledge in case of an unfavorable court ruling.

New York public health system Nassau Health Care Corp. captured an interest rate of 0.4% and saw broad investor interest Tuesday when it sold $40 million of insured revenue anticipation notes backed by future Medicaid payments.