Caitlin Devitt

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.

CHICAGO — Columbus, Ohio-based Huntington Investment Co. has hired Timothy Reidy as the new director of its Cleveland public finance office.

CHICAGO — Minnesota-based law firm Briggs and Morgan PA, one of the state’s top bond counsels, has hired attorney Catherine ­Courtney.

CHICAGO — Ohio began its new fiscal year with revenues down only slightly from expectations and a surplus of just under $140 million, but the good news ends there as the state is bracing for a deficit that could be higher than $8 billion as it heads into a new biennial budget next year.

The Central Ohio Solid Waste Authority is expected to issue $15.5 million of solid-waste facilities improvement bonds this week.

Michigan Gov. Jennifer Granholm last week signed off on a new tax-free Renaissance Zone in the town of Holland for a new automobile battery plant.