Caitlin Devitt

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.

Fitch Ratings downgraded to BBB-plus from A-minus roughly $219 million of revenue bonds issued on behalf of the Nebraska Methodist Health System.

Lake County officials said they plan to sue the state next month over a law requiring the county to adopt a 1% local option income tax in order to lift a freeze on its property tax revenue.

CHICAGO — Moody’s Investors Service has downgraded to Baa1 from A3 its rating on Cleveland-Hopkins International Airport, warning that the airport faces pressure from declining enplanements and airline revenue.

CHICAGO — Fitch Ratings downgraded Akron, Ohio, as the city prepares to hit the market Monday with a $76 million general obligation borrowing as part of its annual debt issuance to finance capital projects.

CHICAGO — Ohio will enter the market Monday with $300 million of tax-exempt bonds and taxable Build America Bonds to finance higher education capital projects across the state.

CHICAGO — Officials in Hamtramck, Mich., said they would try to set up a meeting with state Treasurer Robert Kleine in a fresh effort to win permission to file for bankruptcy.

CHICAGO — Officials in Hamtramck, Mich., said they would try to set up a meeting with state Treasurer Robert Kleine in a fresh effort to win permission to file for bankruptcy.

CHICAGO — Michigan officials Wednesday said they denied a request by the Detroit suburb of Hamtramck for permission to file for bankruptcy.

CHICAGO — A Detroit legislator was poised Wednesday to sponsor a package of bills that would allow Michigan to securitize up to $400 million of its tobacco settlement payments to erase the deficits carried by Detroit Public Schools and 41 other state school districts.

CHICAGO — Indianapolis will lease its parking meters for 50 years to a private company under a controversial plan by Mayor Greg Ballard that was narrowly approved Monday by the city-county council.

Michigan Attorney General Mike Cox last Saturday approved the $1.5 billion sale of the Detroit Medical Center to a for-profit Tennessee-based health care company. The deal awaits federal approval and is expected to close Dec. 31.

Federal and state environmental regulators have agreed to extend a deadline for Evansville to develop a plan to improve its sewer systems.

Indianapolis Mayor Greg Ballard last week announced that longtime financial analyst Jeff Spalding would take over as the city’s new controller.

CHICAGO — A new bond-issuing authority made up of the University of Nebraska and the city of Lincoln will take competitive bids Wednesday on nearly $100 million of recovery zone economic development bonds and Build America Bonds.

CHICAGO — Whiting, Ind., this week will issue $60 million of tax-exempt refunding bonds on behalf of BP Products North America Inc., which is in the midst of a $3.8 billion expansion of its Whiting-based oil refinery.