Caitlin Devitt

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.

Cook County, which includes Chicago, is celebrating the release of its comprehensive annual financial report within six months of the close of the fiscal year, marking the first time in 10 years the county has done so.

Fitch Ratings Friday lifted its negative rating watch on Detroit's $1.5 billion of pension certificates of participation after the city made a scheduled $34.2 million debt service payment.

Michigan and Canadian officials Friday announced an agreement to build a new $4 billion, largely bond-financed trade bridge that has Canada taking on nearly all of the financial risk for the massive project.

The Detroit Water and Sewerage Department has pushed back a $500 million debt issue that was planned for Thursday to give officials time to work through a crippling dispute with Michigan that threatens to bankrupt the city.

Michigan education officials last Thursday approved the Pontiac School District’s deficit elimination plan, removing the threat of a state takeover and prompting the release of $2.8 million of overdue state aid that had been withheld in April and May.

A three-member Michigan Court of Appeals Friday ruled that a petition to overturn the state’s emergency management law could go on the ballot, then immediately stayed the ruling to poll the full 28-judge appellate bench on whether to reconsider the issue.

The Michigan Senate last week passed a bill allowing the lowest-performing 5% of schools to leave their districts and be converted to so-called conversion schools, including charters.

The Michigan House last week approved a bill that will allow Detroit and 40 other local governments to create a new bond-issuing authority to manage their public lighting departments.

CHICAGO — The Cook County Forest Preserve District, which boasts 68,000 acres of open space in the Chicago area, is selling bonds to entice more Chicagoans to camp out, among other things.

Detroit Mayor Dave Bing warned that the city will miss a $34.2 million bond payment unless Detroit's top lawyer drops a lawsuit challenging the two-month-old consent agreement between the city and Michigan.

CHICAGO — Michigan starts the week off with a three-day pricing of a $3.3 billion unemployment-obligation assessment revenue bond issue in the largest deal of the year so far.

Michigan officials said that an upcoming bond deal that is critical to keep Detroit's finances stable will be derailed if city officials proceed with a lawsuit challenging the city's recent consent decree with the state.

CHICAGO — Michigan legislators Tuesday sent Gov. Rick Snyder the final piece of a $48.2 billion all-funds fiscal 2013 budget that reflects the state’s stabilizing fiscal position.

CHICAGO — Indiana budget officials will hire Deloitte to conduct an audit into how the state’s Revenue Department lost track of $526 million of tax revenue in a pair of high-profile accounting errors that embarrassed Gov. Mitch Daniels’ administration.

CHICAGO — Ohio State University on Friday is expected to tap a private investor that has offered $483 million in cash to take over the school’s parking system for 50 years in a deal that would make OSU the first public university to privatize such an asset.