Caitlin Devitt

The Lincoln Electric System, a city-owned utility that boasts some of the lowest electric rates in the country, brings $210 million of bonds to market, starting with a one-day retail order period Wednesday.

The city brings $447 million of gilt-rated debt to market Tuesday in what will be its largest general obligation sale to date and one of the larger deals to hit the market next week.

Michigan and city officials reached an agreement with Bank of America Merrill Lynch that pushes back by two weeks the payment date on $80 million of privately placed notes. The extension gives the city more time to resolve a dispute with its top attorney, who is challenging the city's consent decree with the state.

Budget officials in the two Midwest states report good news heading into fiscal 2013, as the states benefit from better-than-expected revenues. Both states will deposit the surpluses into rainy-day funds.

Michigan Treasurer Andy Dillon last week recommended that the state launch a formal investigation into the finances of Allen Park, which has struggled with growing deficits since issuing $31 million of bonds in 2009.

Michigan officials Friday were hoping to win an extension from Bank of America Merrill Lynch on the payment due date on $80 million of privately placed notes to win more time to settle a dispute with Detroit and move forward with a planned refinancing.

Thursday's historic Supreme Court ruling was the best of the likely rulings for the non profit health care sector. But the decision upholds a law that features a host of challenges for the already-challenged sector.

Cook County, Ill. President Toni Preckwinkle unveils a budget projecting a $267 million shortfall. She says it's the smallest deficit since she took over.

Moody's Investors Service last week placed Crittenton Hospital Medical Center’s Baa1 rating on review for downgrade, warning that the Michigan hospital's debt service coverage ratio has declined below the required covenant provisions.

Michigan Gov. Rick Snyder Monday signed a capital budget bill that authorizes $304 million of debt for projects at higher education institutions.

Ohio says it will be able to make this year's payments on its Buckeye tobacco bonds without having to rely on reserves like it did in 2011.

Ohio has launched a new web site aimed at giving potential and current investors a detailed look at the state's fiscal position, including bonds, budget, disclosure information, and ratings information.

Fitch Ratings downgraded $9.3 million of Toledo Lucas County Port Authority special-assessment bonds to D after the issuer missed two principal payments.

Ohio State University approved a final $483 million concession agreement to lease its parking system for 50 years to QIC Global Infrastructure and LAZ Parking.

Oil boom revenue means North Dakota expects an $850 million budget surplus. Voters also rejected a plan to eliminate property taxes.

Detroit will pay yields ranging from 1.72% to 5.30% on $667 million of new-money and refunding sewer revenue bonds that the city's sewer department priced Wednesday.

CHICAGO — Traffic between Michigan and Canada may not be sufficient in the short term to justify construction of a new $3.5 billion trade bridge between the two countries, but that will likely change over the long term, Fitch Ratings said in a commentary released this week.

CHICAGO — Local governments in Michigan would be able to issue municipal bonds to pay off their unfunded pension liabilities if they close their pension plans, under legislation passed by the Senate last week.

The Detroit City Council last week approved the two final positions on the financial advisory board that will oversee the implementation of the city’s consent decree with Michigan.

A Franklin County appeals court last week dismissed a lawsuit that sought to block JobsOhio, a new private nonprofit firm that seeks to purchase Ohio’s liquor distribution system for $1.2 billion.