Caitlin Devitt

CHICAGO — As the largest buyer of qualified school construction bonds, Guggenheim Partners LLC has purchased a piece of nearly every QSCB issue since the federal stimulus act launched the new type of tax-credit bond earlier this year.

CHICAGO — Ohio plans to enter the market next week to refund $271 million of general obligation debt in a transaction that is expected to save the struggling state up to $740 million over the next two years.

Cleveland Mayor Frank Jackson last week said he would need to drain the city’s rainy-day fund in order to help close an estimated $23 million deficit in 2010.

A Michigan state lawmaker representing Detroit introduced a bill that would establish a bond-issuing regional mass transit authority for his region.

Moody’s Investors Service last week upgraded to Aa3 from A1 debt issued on behalf of McLaren Health Care Corp., and revised the outlook to stable from positive.

Indiana Gov. Mitch Daniels this week announced he would cut K-12 funding by nearly $300 million in 2010.

Fitch Ratings last week downgraded to A from A-plus roughly $1.24 billion of debt issued on behalf of the Indianapolis Airport Authority.

For the first time in its 53-year history, the village of Schaumberg, a suburb of Chicago, will impose a property tax.

CHICAGO — Gov. Jennifer Granholm said she will consider revamping Michigan’s tax structure next year as the state finishes what she called one of the worst years in its history.

Ohio Gov. Ted Strickland this week warned he would call a special session over the holidays if legislators are not able to fill an $850 million hole in the state's two-year budget by the end of the week.

Robert W. Baird & Co., Michigan's financial adviser, continues to expand its public finance presence with the opening of a new office in Lansing.

A bill introduced to the Ohio House last week seeks to build the rainy-day fund by capping at 25% the amount that can be transferred to the general fund.

Cuyahoga County last week passed a $1.4 billion all-funds fiscal 2010 budget that was balanced through a series of across-the-boards cuts, many over 10%.

A plan to build a light-rail system along one of Detroit's thoroughfares advanced with the passage of the federal government's 2010 omnibus spending bill.

Detroit Public Schools today is expected to price roughly $325 million of federal stimulus bonds that will finance a capital campaign that city leaders hope will help rebuild both the struggling district's buildings and its reputation.

CHICAGO — The Indianapolis Local Public Improvement Bond Bank tomorrow or Wednesday plans to price $112.3 million of notes to cover short-term cash-flow deficits for the city, Marion ­County, and the Indianapolis-Marion County Public Library.

CHICAGO — Michigan captured a 0.53% interest rate on its Tuesday pricing of $1.25 billion of short-term notes, the lowest interest rate ever on a state cash-flow borrowing.

CHICAGO — After three years working in government and for large public finance law firms, attorneys Lance Tyson and Donsia Strong Hill have re-formed their former public finance practice with an eye toward winning work from governments looking to keep lean amid the weak economy.

CHICAGO — Ohio’s House Committee on Economic Development yesterday held the first of three hearings on a measure that would allow the state to issue up to $1.5 billion of general obligation bonds to renew a popular jobs program.

CHICAGO — Michigan’s House Appropriations Committee will hold a hearing today on a bill that would allow Detroit to sell $250 million of fiscal stabilization bonds to help erase the struggling city’s deficit.