Caitlin Devitt

CHICAGO — Former public finance banker and credit analyst Ivan Samstein has joined Cook County, Ill.'s finance team as deputy chief financial officer.

CHICAGO — Lawmakers in South Dakota, typically one of the first states to complete its budget, last Friday approved a $4 billion, all-funds fiscal 2013 budget that reflects the state's strengthening fiscal position.

A measure that would ask residents of Ohio to authorize $1.3 billion of bonds to finance clean energy efforts advanced in late February when the state attorney general approved the measure.

The Michigan treasurer announced Friday that Detroit Public Schools will take over management of the struggling Highland Park School District.

Moody’s Investors Service has downgraded to Baa1 from A3 its rating on the Brighton Area School District and maintained its negative outlook, warning that the Michigan district is facing financial pressures and a significant general fund deficit.

Indiana collected less revenue than expected last month, though revenues remained up for the first eight months of the fiscal year, officials said this week.

CHICAGO — An effort afoot to suspend and overturn Michigan's emergency manager law could have negative consequences for the fiscally stressed local governments the law aims to help, Moody's Investors Service warns.

CHICAGO — The governors of Kentucky and Indiana Monday released the first comprehensive financing plan for a massive $2.6 billion bridges project that will rely heavily on tolls.

CHICAGO — Junk-rated Detroit Public Schools will bring $252 million of refunding bonds to market this week that feature enhanced double-A ratings based on Michigan's full-faith-and-credit pledge to repay the debt.

CHICAGO — A team of Michigan officials that is reviewing Inkster's finances voted Wednesday to accept a consent decree with local officials, a move that would allow the troubled Detroit suburb to avoid a full state takeover.

CHICAGO — A struggling Detroit suburb will ask voters to approve a property tax increase to cover debt payments on a failed film studio development that is draining the city's general fund.

Officials in Columbus, Ohio, are hoping the city's gilt-edged ratings will stand out when they bring $212.5 million of general obligation refunding bonds to market for interest-rate savings.

Moody’s Investors Service last week downgraded to Baa3 from Baa1 its rating on Michigan’s Mount Clemens Community School District.

The mayor of Hammond, Ind., said last week he won’t move forward with a plan to sell the city’s water company due to costly legal fees and an uncertain market.

Cook County Commissioner and former Chicago Alderman William Beavers was indicted last week on three counts of filing false income tax returns and one count of endeavoring to obstruct and impede the Internal Revenue Service.

The state team reviewing Detroit’s finances has asked for and received a 30-day extension.

CHICAGO — Michigan lawmakers were scrambling Thursday to craft and pass a bill that would keep open a troubled suburban Detroit school district, while on a separate front the state battled with local school officials over the appointment of an emergency manager.

Weeks of intense negotiations with Detroit's 48 unions could be for nought as the tentative contracts don't generate enough savings to stave off a state takeover or prevent the city from going broke by April, according to a new fiscal analysis.

Ohio will price two bond deals Wednesday and return to market next week with $118 million of capital appropriation bonds.

Critics of Nebraska Gov. Dave Heineman’s tax plan said last week the proposal would lead to a $660 million shortfall in the upcoming two-year budget cycle.