Caitlin Devitt

Benton Harbor, which is under state-controlled emergency financial management by Michigan, hopes to win a $7 million loan from the state to help stabilize its finances, according to local reports.

Oakland County, Mich., last week approved a $1.27 billion three-year general-fund budget that includes no tax increases and $500 bonuses for most full-time employees in the first year.

Omaha lost one of its two prized triple-A ratings Friday when Moody's Investors Service downgraded the city to Aa1. But the move did not mean much of a hit to the city's borrowing costs when it headed to market Monday.

Sequestration would mean $11.1 billion of Medicare cuts starting in 2013, a 2% reduction that would mean more headaches for many non-profit hospitals, especially lower-rated issuers, Fitch Ratings said in a commentary.

A year after firing its new CEO, the Wayne County Airport Authority, Michigan has hired the airport's long-time CFO Thomas Naughton to serve in the top position.

Michigan Gov. Rick Snyder Wednesday launched a campaign targeting six November ballot measures, including one that could overturn the state's emergency management law.

New Ohio State University housing will be financed in part through bonds.

Michigan Attorney General Bill Schuette last week filed a federal lawsuit to halt a new $245 million American Indian-owned casino set to open in downtown Lansing later this year.

Detroit has hammered out a tentative lease agreement with Michigan to turn the city's popular Belle Isle park into a state park for at least the next 30 years.

The Omaha Public Power District, one of the country's highest-rated utilities, brings its largest borrowing to date to market this week as it continues to struggles with an extended shutdown of its Fort Calhoun nuclear plant.

Michigan State Sen. Mike Kowell plans to introduce bills to create a new statewide port authority that could issue bonds for economic development projects and expand powers of the Detroit Wayne County Port Authority.

Cecil Fritz, who worked at Indiana's top underwriter for 55 years and was a longtime public finance figure in the state, died Aug. 20 at the age of 91.

The House and Senate Wednesday will consider a long-stalled five-bill package to overhaul the state's retirement system in an effort to trim its pension and retiree health care benefits liability.

Moody's Investors Service last week downgraded its rating to Ba3 from Ba1 on Ypsilanti Public Schools general obligation bonds, warning that the troubled Michigan district may face a so-called payless payday this year.

Indiana officials said revenues fell nearly 2% below expectations in August, though revenues overall are 4% ahead of forecasts for the first two months of the fiscal year.

Cook County Board President Toni Preckwinkle Monday appointed Reshma Soni as the county’s new comptroller.

The Troy Downtown Development Authority says it will default on nearly $17 million of TIF bonds by November 2013. The bond insurer has threatened to sue or request state intervention if it is forced to cover the obligation and the city doesn't pledge to repay.

Michigan Gov. Rick Snyder Friday declared the Detroit suburb of Allen Park to be in a state of fiscal emergency, due in part to the city's struggle to pay $31 million of general obligation bonds issued for a now-failed film studio project.

One of the Midwest's top bond counsel firms, Missouri-based Gilmore & Bell has opened a new Nebraska office in Omaha, staffed by a trio of public finance attorneys who join the firm from competitor Baird Holm LLP.

A week after hearing oral arguments, the state Supreme Court Wednesday afternoon ruled that three of four high-profile referendums should appear on the November ballot. All three could have long-lasting impact on the state's future if approved.