Caitlin Devitt

CHICAGO — The Ohio Legislature last week passed a measure creating a new bond-issuing authority to help finance an expansion of an 88-acre conservatory near downtown Columbus.

CHICAGO — The Indianapolis Local Public Improvement Bond Bank will come to market next week with $21 million of economic development tax-increment financing bonds that will support a $340 million expansion of Dow AgroSciences LLC’s headquarters.

CHICAGO — Moody’s Investors Service has downgraded nearly $2 billion of outstanding tax-exempt gas prepayment bonds and warned that another $1.9 billion could be cut due to the recent rating downgrade for BP Corporation North America Inc.

CHICAGO — Ohio-based public finance law firm Peck, Shaffer & Williams LLP has hired a new associate for its Cincinnati office.

The U.S. Supreme Court last week ruled in favor of Ohio Attorney General Richard Cordray last week when it said in a unanimous ruling that federal courts must defer to state courts on challenges to state law.

The Detroit Medical Center extended by 10 days a letter of intent to sell its eight hospitals to a Tennessee-based for-profit health care company for $1.5 billion.

Indianapolis Mayor Greg Ballard said he was putting on hold a proposal to privatize management of the city’s sports stadiums and convention center.

Gary officials have said the Indiana Gaming Commission should delay renewing a local casino’s license because it owes nearly $22 million in unpaid property taxes.

CHICAGO — Cook County, Ill., on Wednesday and Thursday will price $1.05 billion of new-money and refunding bonds divided into five series in a transaction that likely marks the last issue under county board president Todd Stroger’s watch.

CHICAGO — For Illinois, Build America Bonds are the gift that keeps on giving despite heightened federal scrutiny, the state’s debt manager said last week.

CHICAGO — Moody’s Investors Service Friday downgraded Illinois’s general obligation debt to A1 from Aa3, saying infighting among the state’s leaders has led to ongoing budget delays, erosion of finances, and a severe pension funding gap.

CHICAGO — Sanitary improvement districts have long been a key infrastructure development tool in Omaha. However, the districts are increasingly distressed amid the region’s lifeless housing market, and many are starting to have trouble paying back the debt they issued at the peak of the housing boom five years ago.

Moody’s Investors Service upgraded its rating on $16 million of South Dakota Building Authority outstanding lease debt to Aa2 from Aa3.

Moody’s Investors Service last week placed Marietta Area Health Care’s Ba1 rating on negative watch, affecting $38.5 million of outstanding debt. Marietta has an additional $33 million of letter-of-credit-backed debt not rated by Moody’s. Analysts expect to issue a full review of the credit within the next 30 days.

Kent State University’s board last week approved a five-year, $250 million capital plan to finance various improvements starting next year through 2016. Officials also said they would ask the state for $65 million in financing.

The Michigan Supreme Court Friday handed state transportation officials a victory when it upheld a ruling requiring Manuel Moroun, the owner of the Ambassador Bridge, to rebuild the ramps and approaches leading to the span. The ruling could pave the way for forcing Maroun to conform to designs by the Michigan Department of Transportation.

CHICAGO — St. Louis County will competitively sell $20 million of tax-exempt special obligation bonds and taxable recovery zone economic development bonds to finance construction of a new health care campus in Berkeley.

CHICAGO — Nonprofit health care providers grappling with what to do about interest rate swaps that for years saved them money but now have become costly burdens face a “stark choice” that can depend on their fiscal position and appetite for risk.

CHICAGO — Ohio next week will price $20 million of taxable revenue bonds backed by profits from the state’s liquor sales, a revenue source unscathed by the recession.

CHICAGO — The federal health care overhaul could cost Indiana up to $2.9 billion through 2020, a new report estimates.