Caitlin Devitt

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.

CHICAGO — Illinois lawmakers ended a week-long veto session Thursday after passing a public safety pension reform measure and advancing a gaming expansion bill but without taking up a series of major bills aimed at tackling the state’s looming deficit.

CHICAGO — Officials in Hamtramck met with the current and incoming state treasurers this week to continue to press their case for the cash-strapped city to become the first Michigan municipality to file for Chapter 9 bankruptcy.

CHICAGO — Michigan Republican Governor-elect Rick Snyder has tapped Utah’s top budget official as his new budget director, starting Jan. 1.

CHICAGO — The Wayne County Airport Authority will begin refunding more than $1 billion of senior-lien general airport revenue bonds Monday to achieve interest-rate savings and take advantage of the federal alternative-minimum tax holiday.

Richland County is expected to come to market this week with $8.8 million of variable-rate demand bonds for recovery zone facilities.

Michigan officials said the state’s road construction budget could be chopped in half by 2012 due to falling gas tax revenues.

Fitch Ratings last week downgraded its rating to BBB-minus from BBB-plus on three series of tax-increment financing bonds issued for Detroit’s downtown business district. The Detroit Downtown Development Authority issued the debt in 1998. The outlook remains negative.

CHICAGO — Ohio-based public power provider American Municipal Power Inc. will come to market Wednesday with $654 million of mostly taxable debt to finance a new hydroelectric plant along the Ohio River.

CHICAGO — After years of planning and local front-page headlines, Cuyahoga County, Ohio, will hit the market next week with $346 million of tax-exempt and taxable debt that will tap two federal stimulus bond programs to help finance a new convention center and medical supply mart in downtown ­Cleveland.

The Kenton County Airport Board was hit by two downgrades last week.