Caitlin Devitt

Nebraska Gov. Dave Heineman last week vetoed a bill that would give cities the option to hold a referendum on a sales tax increase.

Michigan Gov. Rick Snyder last week determined that a financial emergency exists in Muskegon Heights Schools, a district in a Detroit suburb that has been plagued by years of deficits and falling enrollment.

Indiana Gov. Mitch Daniels last week tapped a new commissioner of the Department of Revenue after the outgoing commissioner and two of his top deputies resigned in the wake of a pair of high-profile accounting errors.

Moody’s Investors Service downgraded as many nonprofit health care providers as it upgraded during the first quarter of the year, and its analysts expect the sector’s negative conditions to spark more downgrades in the coming months, analysts said in their quarterly report on the sector.

CHICAGO — A state-crafted consent decree aimed at stabilizing Detroit's finances will likely benefit the city, but problems remain so deep and pervasive that success is far from certain, according to Moody's Investors Service.

CHICAGO — Michigan is touting the strong history and credit quality of its water loan program as it brings $240 million of triple-A rated clean and drinking water revenue bonds to market Tuesday.

CHICAGO — New York City-based M.R. Beal & Co. has hired municipal finance veteran Jonathan Savage to promote its Midwest presence out of the firm's Chicago office.

CHICAGO — Detroit Mayor Dave Bing's office Wednesday presented a $2.5 billion all-funds fiscal 2013 budget that marks the first step in a rigorous new budget process required under the historic consent agreement the struggling city signed with Michigan last week.

CHICAGO — The Michigan Finance Authority is bringing $153.4 million of revenue bonds to market next week on behalf of the Oakwood Obligated Group, a four-hospital system located in the Detroit area.

It's the second high-profile mistake by the Indiana Department of Revenue in the last year, and prompted the resignation of Revenue Department Commissioner John Eckart.

The Indianapolis office of Faegre Baker Daniels LLP announced last week that the firm has hired Jonathon Weinzapfel, the former mayor of Evansville, as counsel.

Cook County's pension fund has seen a 30% drop in its funded status over the last 10 years and without action will be insolvent by 2038, according to a new county analysis.

Despite legislative setbacks and an ongoing battle with a powerful Detroit family, the leaders of Michigan and Canada continue to tout as a top priority a new $4 billion bridge to span the nation's busiest trade route between Detroit and Canada.

Moody's Investors Service Monday knocked down its rating on $4.6 billion of Detroit water and sewer debt by three notches, a move the agency said reflects the risk that the city will default or file for bankruptcy.

Ohio Gov. John Kasich Monday signed into law a $1.74 billion, two-year capital bill, the state’s first new capital budget since 2009.

A financial emergency exists in Muskegon Heights Schools, said an eight-member, state-appointed team that has reviewed the district’s finances.

Fitch Ratings this week affirmed Romulus’ BBB-plus rating and revised its outlook to stable from negative, citing the city’s improving financial operations.

As Detroit and Michigan officials work against the clock to come to an agreement to stabilize the city’s finances, Rep. Hansen Clarke, D-Mich., introduced a bill that would secure up to $500 million in federal funding for the city.

CHICAGO - Michigan officials filed an appeal Tuesday afternoon against a circuit court decision that has prevented the state team reviewing Detroit's finances from meeting.

CHICAGO — The Michigan Senate last week advanced a measure to divert a piece of the state's fuel sales tax to finance transportation infrastructure projects, part of an effort to raise more money for the depleted roads fund.