Caitlin Devitt

Indianapolis Mayor Greg Ballard last week announced a plan to build a $15 million parking garage financed in part with proceeds from the $20 million the city received by leasing its parking meters for 50 years. The city last week announced the selection of a developer and operator of the new mixed-use parking development. The lot will have 350 spaces, retail space, and a police substation.

Standard & Poor's last week affirmed the state's prized AAA rating, and fiscal officials announced that recent revenue figures continue to exceed expectations. A new national report, meanwhile, notes that the Hoosier State's economy saw the third-largest growth rate last year, driven by a recovery in manufacturing.

CHICAGO - Moody's Investors Service Thursday lowered its rating on Ohio-based Mercy Medical Center to its lowest investment-grade level — and revised its outlook to negative — warning that the facility is suffering from a sharp decline in its fiscal position.

CHICAGO — The Michigan Strategic Fund will enter the market next week with $122 million of revenue bonds to refund debt issued seven years ago to acquire and renovate a downtown Detroit landmark.

CHICAGO — Following passage of a new state law aimed at assuaging investor fears of bankruptcy, the city of Ecorse next week will sell $9.3 million of financial recovery bonds, making it one of Michigan’s only municipalities to enter the bond market while under state-controlled receivership.

The Columbus City Council Monday approved legislation that advances a plan for a $400 million casino based in the city.

The Michigan Legislature has passed a pair of bills that would lower the official municipal-population threshold for levying certain income and utility taxes to 600,000 from 750,000. The measures would effectively apply only to Detroit and allow it to continue collecting the taxes despite recent Census figures that show the city’s population fell to 713,000 during the last decade.

CHICAGO — Michigan-based Kalamazoo College this week is privately placing $36.4 million of bonds, a move that will raise new money and take all of its bonds off the public market to escape a bond covenant that has grown too ­restrictive.

CHICAGO — With the budget behind him, Michigan Gov. Rick Snyder said his top priority is swift passage of a bill that allows the state to enter into a public-private partnership to build a $4 billion Detroit River bridge that will be partially financed with tax-exempt bonds.

CHICAGO — The Omaha Public Power District, the fourth highest-rated utility in the U.S., on Thursday will price up to $150 million of electric system revenue bonds.

CHICAGO — Ohio will enter the market four times over the next week with a spate of deals to finance economic development and job-creation projects.

The Cuyahoga County Economic Development Commission last week approved a five-year fiscal proposal that features the sale of $100 million of bonds.

Fitch Ratings last week dropped Canton City School District’s unlimited-tax general obligation debt to A from A-plus.

Ohio state auditor Dave Yost last week put one local school district on fiscal watch status and removed another from fiscal emergency status after nearly 10 years.

CHICAGO — The Michigan Legislature late Thursday was poised to approve a final $46.5 billion 2012 spending plan, marking the earliest finish to the state’s fiscal budget process in three decades.

CHICAGO — Detroit Mayor Dave Bing late Tuesday said he would veto a fiscal 2012 budget passed earlier in the day by the City Council that cuts more than $50 million from his $3.1 billion proposal.

CHICAGO — Michigan lawmakers are considering a package of bills to provide relief for local governments struggling to make debt-service payments on special assessment debt issued for failing developments.

Warren County is asking Ohio to approve a new hotel-motel tax that would be used to finance construction of an outdoor sports complex.

Nebraska Gov. Dave Heineman last week signed into a law a two-year, $7 billion general fund budget that closed an estimated $1 billion shortfall with cuts and no new taxes.

Detroit deputy mayor Saul Green, a former U.S. attorney who has been in office since late 2008, announced Monday he will retire next month.