Caitlin Devitt

Standard & Poor’s last week revised its outlook to stable from negative and affirmed its A-minus rating on Memorial Hospital and Health Center, a 131-bed hospital located in the town of Jasper.

CHICAGO — Junk-rated Detroit will turn to Michigan for help in issuing up to $100 million of general obligation bonds to finance the purchase and renovation of a former MGM Grand casino into a new police headquarters.

CHICAGO — Omaha Mayor Jim Suttle Tuesday proposed a trio of tax increases in part to help address a pension shortfall that credit analysts have warned is one of the triple-A rated city’s main challenges.

CHICAGO — Triple-A rated Columbus plans to enter the market next week with $432 million of general obligation bonds in a deal that marks its annual outing to raise funds for capital projects.

CHICAGO — Indiana Treasurer Richard Murdock has tapped finance veteran Lisa Cottingham to serve as the new director of the Indiana Bond Bank, one of the state’s largest borrowers.

A Columbus City Council member last week introduced an ordinance to issue $10.4 million of Build America Bonds to finance improvements to the city’s main water plant.

Duke Energy Ohio, which is appealing the 2009 property taxes it owes to the state, said last week it had reached an agreement with Ohio to minimize the short-term impact of the dispute on local governments. The company’s decision to withhold part of its 2009 payments has meant fiscal uncertainty for many municipalities that collect the money.

The Detroit Economic Development Corp. last week approved an inducement resolution to issue $15 million of recovery zone facility bonds to finance construction of a new medical office building in the city.

CHICAGO — Double-A rated South Dakota closed fiscal 2010 without tapping into state reserves to wipe out an estimated $3.5 million deficit.

CHICAGO — Indiana drained nearly half of its prized $1.3 billion reserve fund last year to offset revenue collections that tumbled more than $1 billion below original budget projections.

CHICAGO — Fitch Ratings stripped $9.3 million of special-assessment revenue bonds from the Toledo-Lucas County Port Authority of their investment-grade rating Wednesday.

CHICAGO — Ohio Gov. Ted Strickland is resuming a push to install 17,500 slot machines at horseracing tracks to generate millions in new money for the state budget.

CHICAGO — With an expanded PACE program now in place, some Ohio issuers are saying they will continue to pursue commercial PACE financing despite greater federal scrutiny of the program’s residential side.

CHICAGO — The Detroit City Council heard testimony but did not vote Tuesday on a measure that would ask voters whether they want to abolish the Detroit Public School Board and place the troubled school system under mayoral control.

CHICAGO — Indianapolis’ Capital Improvement Board will vote Friday on a plan to pay the Indiana Pacers $33.5 million over the next three years to keep the professional basketball team in town.

Nebraska’s general fund receipts for June totaled $309 million, $35 million below original projections. For fiscal 2010 so far, state receipts are $76 million below projections, the Revenue Department said last week.

Gov. Jennifer Granholm last week said she would stop pushing a proposal to lower Michigan’s sales tax while extending it to cover some services due to lawmakers’ resistance.

The South Bend Redevelopment Commission last week approved a plan to pay off $2.3 million of tax-increment financing bonds early and is poised to pay off another $3.3 million of economic development bonds.

CHICAGO — Cincinnati today will take institutional orders on $70 million of general obligation, unlimited-tax debt that is part of the city’s regular borrowing to finance capital projects.

CHICAGO — A developer’s default on $14.1 million of special assessment bonds in Wood County, Ohio, has sparked a dispute between the bond trustee and the county treasurer over the tax-lien sale of the property.