Caitlin Devitt

A state regulatory commission will hold a public hearing next week on Indianapolis' plan to sell its water and sewer systems to a nonprofit utility.

Detroit has filed its annual audit on time for the first time in five years. The 237-page financial report, filed Dec. 21, warns that the city faced a total deficit of $1.6 billion as of June 30, the end of fiscal 2010.

Moody's Investors Service cut its rating on the fiscally troubled city of Mansfield by two notches to A3 from A1 and placed the credit on review for a further downgrade. The move affects $12.7 million of general obligation debt.

Moody's Investors Service last week placed its A1 rating on the village of Maywood on review for possible downgrade, a move analysts said was prompted by a lack of sufficient information about finances and operations.

CHICAGO — Triple-A rated Indiana, which was hit harder and earlier than many states by the national recession, will likely start to enjoy a revenue rebound the next three years, budget officials said this week.

The Nebraska Investment Finance Authority Thursday will price $196 million of fixed-rate bonds, followed in two weeks by $478 million of variable-rate debt, in a deal aimed at helping the authority better manage its swap risk.

Moody's Investors Service downgraded to A1 from Aa3 Canton's general obligation limited-tax debt.

The Columbus City Council last week approved $36 million of bonds to finance the renovation and expansion of a new police headquarters.

Cuyahoga County's first executive, who takes office in January as part of the county's shift to an executive-style government, said last week he hopes to launch a regional service-sharing agreement for the county's local governments.

Detroit Mayor Dave Bing said the city early next year will begin offering residents "non-financial" incentives to relocate to certain areas under a plan to shrink its boundaries.

CHICAGO — Pre-subsidy interest rates ranged from 5.1% to 8.4% on $100 million of recovery zone economic development bonds that Detroit sold last week through a Michigan conduit.

CHICAGO — Fitch Ratings and Moody’s Investors Service hit Wayne County, Mich., with dual downgrades to the low single-A category last week as it prepares to sell $200 million of recovery zone economic development bonds Wednesday.

CHICAGO — The Indianapolis Airport Authority on Tuesday will price a yet-to-be determined amount of refunding bonds to take advantage of the federal alternative-minimum tax holiday.

CHICAGO — Ohio’s effort to ensure local governments issue as many recovery zone bonds as possible before the end of the year has prompted Columbus to enter the market Tuesday to use a fresh allocation of just under $60 million.

The junk-rated city of Detroit will access the market through a Michigan conduit Thursday as it seeks to raise $100 million to finance a new police headquarters in a vacant MGM casino.

Republican Governor-elect John Kasich said last week that he would consider a plan to privatize the Ohio Turnpike.

Kent State University has postponed a $250 million capital program amid opposition from the Ohio Board of Regents.

Gov. Jennifer Granholm next week is expected to sign into law a $383 million capital budget that would fund dozens of projects at universities and community colleges across Michigan.

CHICAGO — Ohio plans to begin taking retail orders Tuesday on $230 million of double-A rated Garvee bonds and opening the sale to institutional buyers Wednesday.

CHICAGO — Minnesota faces a $6.2 billion budget deficit over the next two years that is about $590 million more than previously projected, according to a new revenue forecast state fiscal officials issued Thursday.