Caitlin Devitt

CHICAGO — Michigan State University on Thursday will price $205 million of 40-year taxable Build America Bonds for capital projects. The school in May expects to offer a pair of refunding transactions that will restructure some of its variable-rate demand bonds and refund outstanding commercial paper.

Indianapolis is likely to take over operations at the arenawhere the National Basketball Association’s Indiana Pacers play after the team said it can’t continue to cover annual operating costs.

The new federal health care law will likely mean less revenue for nonprofit hospitals in the long run, Moody’s Investors Service warned in a report out this week.

CHICAGO — Cook County, Ill., has announced the finance teams tapped to bring to market $412 million of new money as well as a chunk of refunding bonds that likely will mark the last issue under Board President Todd Stroger’s watch.

CHICAGO — Detroit Mayor Dave Bing yesterday unveiled a much-anticipated 2011 budget proposal that relies on a series of relatively modest spending cuts to whittle down the deficit while putting on hold bold initiatives to securitize assets to raise new money.

Michigan today will competitively sell $60 million of taxable general obligation school loan bonds to finance a deposit in the state’s school loan revolving fund.

University of Michigan economists said last week the state will finally begin to see some job growth next year after 10 years of losses.

A circuit court judge in northwest Indiana ruled this week that Porter County could not withdraw from a local regional development authority.

Catholic Healthcare Partners of Ohio, one of the country's largest nonprofit health-care systems, on Wednesday will begin selling $450 million of fixed-rate debt, followed by $230 million of variable-rate debt early next month.

Ohio next week will price $170 million of taxable Build America Bonds that feature the state's highest credit rating to finance improvement projects.

CHICAGO — Nonprofit hospitals have suffered a nearly 22% drop in pension plan median funding levels since 2007, a situation that could put further strain on the balance sheet of struggling facilities, according to a new report on pension challenges facing the sector by Standard & Poor's.

CHICAGO — Henry Ford Health System could spend up to $1 billion in a massive expansion plan that would include a $500 million investment in its flagship Detroit facility, the provider said this week.

Detroit Public Schools will not have to pay back property taxes it collected without voter approval from 2002 through 2004, the Michigan Supreme Court ruled last week.

For the first time in 17 months, Indiana’s monthly revenue collections exceeded the same month in the previous year, the state budget agency announced this week.

CHICAGO — The ­Bloom-Carroll Local School District in Ohio last week completed one of the first negotiated sales of qualified school construction bonds to take advantage of the new direct-subsidy payment option for issuers.

CHICAGO — The Detroit City Council Tuesday voted against Michigan legislation that would dissolve the city’s two main pension fund boards and transfer management of the two funds to a nonprofit group in Lansing.

CHICAGO — The police union in ­Toledo yesterday lost a bid for a temporary restraining order against the city following the approval of a fiscal 2010 budget that amends union contracts to help close a $48 million deficit and avoid a takeover by Ohio.

CHICAGO — The Michigan Municipal Bond Authority is expected to enter the market today with $255 million of notes to help cover Detroit Public Schools’ anticipated fiscal 2010 cash shortfall.

Moody’s Investors Service has cut its rating to Baa2 from Baa1 on the Cleveland Municipal School District’s general obligation debt.

Cincinnati-based Catholic Healthcare Partners has acquired Jewish Hospital, which will become part of CHP affiliate Mercy Health Partners of southwest Ohio.