Caitlin Devitt

CHICAGO - The emergency manager of struggling Pontiac, Mich., last week unveiled a package of tax increases and spending cuts that he said is the only option the city has to avoid going broke by next spring or sooner.

CHICAGO - A trio of nonprofit hospitals in the Chicago area, including the prominent Northwestern Memorial's Prentice Women's Hospital, are expected to appeal the Illinois Department of Revenue's decision earlier this week to deny them their property-tax exemptions for failing to provide sufficient charity care.

CHICAGO - Indianapolis Mayor Greg Ballard unveiled what he called the triple-A rated city's tightest budget in years, offsetting falling revenue by dipping into funds from the city's lucrative downtown tax increment finance district.

The Detroit Charter Revision Commission is working to meet an Aug. 30 deadline to place a revised charter on the fall ballot.

The AARP joined with two other senior-citizen groups to file a friend of the court brief to the Michigan Supreme Court last week, arguing that the state’s new law taxing retirement income is unconstitutional.

More than 80 people, including members of Michigan's Senate Economic Development Committee, embarked Monday on a fact-finding tour of proposed sites for a controversial plan to build a publicly funded bridge over the Detroit River.

Fitch Ratings last week affirmed its AAA rating and stable outlook on Indianapolis.

CHICAGO - Nonprofit health care issuers already bracing for steep government reimbursement cuts from the new federal health care law now face a new round of cuts tied to the debt-ceiling deal.

CHICAGO - Detroit hopes to come to market in early September with up to $100 million of federal capital grant-backed bonds to finance part of a light-rail system along the city's main thoroughfare.

CHICAGO - Ohio is looking for advisors to help it explore privatization options for the Ohio Turnpike.

CHICAGO - Citizens Energy Group, a nonprofit utility, will enter the market next week with up to $1 billion of new-money and refunding tax-exempt bonds to finance the purchase of Indianapolis' water and sewer systems.

Fitch Ratings last week downgraded Toledo’s sewer bonds to A-plus from AA-minus due in part to a weakening of the system’s debt service coverage levels over the past two years.

Voters rejected 17 of 23 school levy requests in special local elections held last week across Ohio.

Detroit Mayor Dave Bing announced last week that the city has reached a voluntary settlement with a union, resulting in a number of reforms.

Three unions that represent employees in the Detroit Public Schools system filed a federal lawsuit over a 10% pay cut and new requirement that employees pay 20% of their health care costs.

CHICAGO - Ohio will price $25 million of federally taxable general obligation bonds Tuesday that will finance cash bonuses for Ohioans who are veterans of recent wars.

CHICAGO - A bond issuer made up of the University of Nebraska and the city of Lincoln will take competitive bids Tuesday on $100 million of bonds that mark the last large financing for a new arena that is the largest project in state capital's history.

CHICAGO - The Michigan Municipal Advisory Council is looking for the seventh director in its 80-year history as current director Mike Alandt aims to retire by the end of the year.

CHICAGO - Cincinnati-based law firm Frost Brown Todd LLC has hired a pair of Ohio public finance veterans to staff its Columbus office and expand its municipal practice across the firm's five-state footprint.

Moody’s Investors Service downgraded $61.5 million of bonds sold on behalf of John Carroll University to A3 from A2. The Ohio Higher Educational Facility Commission issued the debt on behalf of the school.