Caitlin Devitt

Detroit's corporation counsel has asked the Michigan Court of Claims to overturn the consent decree recently inked between the state and city that allowed Detroit to avoid an emergency takeover.

Federal transportation officials said they want additional information before committing funds to a proposed light-rail line financed by private investors along one of Detroit's main thoroughfares.

Indianapolis Mayor Greg Ballard’s former chief of staff has joined Faegre Baker Daniels LLP.

CHICAGO — Kent State University will come to market Thursday with $170 million of new-money bonds that will raise funds for a large capital plan at the school's main campus in Kent, Ohio.

CHICAGO — Michigan Gov. Rick Snyder is reportedly close to reaching a final agreement with Canada on a long-stalled $4 billion trade bridge spanning the Detroit River at the nation’s busiest trade route.

CHICAGO -- If it passes, a referendum that would abolish North Dakota’s property taxes would pose a significant fiscal threat to local governments and would also raise their borrowing costs, Moody’s Investors Service said in a report out Thursday.

Fitch Ratings downgraded $3 billion of Detroit's sewer bonds as the city prepares to enter the market with a new-money issue in mid-June, in part to cover the expense of terminating costly interest-rate swaps.

CHICAGO — The Greater Cleveland Regional Transit Authority is bringing $41.7 million of highly rated sales-tax-backed bonds to market Thursday.

The Detroit City Council last week approved a $1.12 billion fiscal 2013 budget that largely adheres to Mayor Dave Bing’s proposed spending plan.

Fitch Ratings last week stripped the Detroit suburb of Taylor of its investment-grade rating and warned of further action by assigning a negative outlook.

The Indianapolis Public Schools board last week approved a plan to lay off 163 employees to help close a $27 million shortfall.

Michigan has set June 14 for the sale of $3.3 billion of bonds that the state will use to defease short-term debt issued in late December to pay off its federal unemployment liability.

Michigan has set June 14 for the sale of $3.3 billion of bonds that the state will use to defease short-term debt issued in late December to pay off its federal unemployment liability.

CHICAGO — Michigan officials are putting the final touches on a fiscal 2013 budget that will likely mark the state’s first contribution since the early 1990s to prefund its towering retiree health care liability.

As Indiana spends down $3.8 billion generated by its 2006 lease of the Indiana Toll Road, the state has a series of new public-private partnerships in the pipeline that underscore its continued reliance on the technique to provide financing for transportation infrastructure projects.

A struggling film studio located in the Detroit suburb of Pontiac has a new tenant, according to a report in the Detroit Free Press.

Michigan state Rep. Maureen Stapleton, who represents Detroit, last week introduced legislation that would create a bond-issuing authority to take over the city’s troubled lighting department.

Michigan Gov. Rick Snyder appointed Glenda Price, a former college president, to the nine-member financial advisory board that will help oversee the implementation of the consent agreement between Detroit and the state.

CHICAGO — The Ohio Department of Transportation is taking bids from firms interested in advertising at its Interstate rest stops and welcome areas to help raise funds to whittle down a $1.6 billion budget hole that officials say will delay projects for years.

CHICAGO — Nearly half of nonprofit hospitals expect capital spending to rise over the next five years, driven primarily by a need to invest in information technology, according to a new survey from Fitch Ratings.