Caitlin Devitt

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.

Shut out of the public market by its junk-bond ratings and fiscal problems, cash-strapped Detroit on Thursday closed an $80 million private placement that pushes off a debt-service payment less than two weeks away.

CHICAGO — After winning the top financial advisor spot in Indiana last year, Sycamore Advisors LLC has hired a new employee and is considering another hire with an eye toward expanding beyond the state over the next few years.

The Pontiac School District plans to privately place $16 million of tax anticipation notes, one of several Michigan school systems eying the increasingly popular alternative to a public offering.

The Michigan Finance Authority was the nation's fifth largest issuer last year, driven largely by its last-minute, late-December issuance of $3.32 billion of short-term bonds to pay off the state's unemployment liability.

The Detroit City Council approved a $150 million bond sale that will generates cash to cover looming debt-service payments.