Caitlin Devitt

CHICAGO - Detroit Mayor Dave Bing on Thursday publicly raised the specter that perhaps only a state-appointed emergency manager will have the tools necessary to solve the long-troubled city's financial woes. He left the door open to the possibility of taking on the role.

CHICAGO - One troubled local school district in Michigan has seen its ratings sink into junk territory while another could be heading toward a state-mandated takeover.

CHICAGO - Two large Chicago-area health care systems announced Wednesday they have finalized a merger that will create the largest Catholic health care network in Illinois.

The Michigan state treasurer last week said Three Oaks, located in Berrien County, is out of state receivership.

Indiana Gov. Mitch Daniels last week appointed public finance veteran Jennifer Alvey to the State Lottery Commission.

Moody’s Investors Service last week affirmed its Baa2 rating on King’s Daughters’ Hospital and Health Services but revised the outlook to negative from stable, warning that the facility faces volume and operating pressures.

CHICAGO - The Toledo-Lucas County Port Authority plans to issue $14.4 million of bonds to finance a takeover of Toledo's parking system in a deal that gained final City Council approval last week.

CHICAGO - Triple-A rated Hennepin County, the richest county in Minnesota, will take competitive bids Tuesday on $60 million of new-money general obligation bonds in its first borrowing of the year.

CHICAGO - Cleveland Hopkins International Airport plans to price $75 million of passenger fee-backed revenue bonds Wednesday, its first new-money borrowing in 10 years.

CHICAGO - The Cuyahoga County Council this week approved a measure that will allow Ohio's most populous county to launch a bond-financed program to finance economic development projects.

CHICAGO - Michigan Gov. Rick Snyder laid out an ambitious infrastructure plan Wednesday, saying the state needs $1.4 billion of new money to maintain its roads and bridges and should borrow $600 million for sewer and water projects.

CHICAGO - Reversing a recent decision, the Obama administration Monday said Ohio could use a small federal grant to finance Republican Gov. John Kasich's effort to privatize the Ohio Turnpike.

CHICAGO - A recent ruling by the Nebraska Department of Revenue effectively removes the use of lease-purchase agreements as a tool to finance municipal projects, and the impact is reverberating throughout the state.

CHICAGO - Cook County, Ill., Board President Toni Preckwinkle Tuesday proposed a $2.9 billion all-funds budget for fiscal 2012 that closes a $315 million shortfall with a mix of cuts and tax and fee increases.

Fitch Ratings last week affirmed its AA rating on $590 million of revenue bonds issued by the Ohio Turnpike Commission and revised its outlook to stable from negative.

Critics and supporters last week debated a proposed constitutional amendment to abolish property taxes in North Dakota. If approved, it would make the state the only one in the nation to repeal such taxes.

Fitch Ratings last week downgraded the town of Port Huron in eastern Michigan to A-plus from AA-minus, affecting $24 million of general obligation bonds.

CHICAGO - The two-banker public finance team that covered the Michigan market for Mesirow Financial Inc. has joined Chicago-based Hutchinson Shockey Erley & Co. after Mesirow's closure of its Michigan office a few months ago.

CHICAGO - As problems of local governments garner national attention, Michigan's cities and towns continue to face significant stress, with half expecting more pressure next year, but some are starting to see slight improvement, according to a new report by the University of Michigan.

CHICAGO - In a closely watched first vote, a Michigan Senate subcommittee Thursday voted down legislation advancing a high-profile plan to build a publicly financed bridge between Detroit and Canada.