Caitlin Devitt

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.

Fitch Ratings revised its outlook to negative from stable on Akron’s limited-tax general obligation debt, income tax debt, and certificates of participation. It also affirmed its AA-minus rating on the limited-tax GO debt, its A-plus rating on the income tax bonds, and its A rating on the COPs.

Cuyahoga County commissioners last week approved a proposal to sell $181 million of bonds, $130 million to finance construction of a juvenile justice center and about $50 million other projects.

Fitch Ratings this week downgraded its rating to BBB-minus from BBB-plus on the Summit County Port Authority bond fund’s outstanding $40.2 million of revenue bonds. The debt remains on negative negative at the lower rating.

CHICAGO — Michigan today will price $1.3 billion of fixed-rate notes as part of its annual borrowing to cover expenditures throughout the fiscal year as its awaits an influx of revenue.

CHICAGO — Indiana has suffered 14 straight months of falling revenues, prompting Gov. Mitch Daniels to again ordered a round of spending cuts — this time targeting higher education and contributions to employees’ deferred compensation accounts.

CHICAGO — Strong governance at nonprofit hospitals appears to be a leading factor in winning upgrades, according to a report released this week by Moody’s Investors Service.

CHICAGO — Minnesota is facing a $1.2 billion deficit through 2011 and could see a record $5.4 billion shortfall by 2013, according to the latest state revenue projections released yesterday.

CHICAGO — Columbus, Ohio-based Nationwide Children’s Hospital today will begin pricing $100 million of fixed-rate revenue bonds to finance a chunk of its $800 million, six-year capital plan.

Four Ohio state legislators last week introduced a package of bills that would place a constitutional amendment on the May ballot allowing communities to opt out of having a casino established in their region.

Moody’s Investors Service last week placed its A1 issuer credit rating for the Health Alliance of Greater Cincinnati on watch list for possible downgrade as the system undergoes changes in its corporate structure.

Despite falling revenues, Indiana’s financial position remains strong, supported by political leaders who are committed to plugging a fiscal shortfall and returning the budget to a state of structural balance, Standard & Poor’s said in a recent review of the state.

Indianapolis Mayor Greg Ballard has appointed a new president and five new members to the cash-strapped Marion County Capital Improvement Board, which manages the city’s sports venues and convention center.

CHICAGO — The St. Louis Art Museum today will price $20.4 million of fixed-rate cultural facilities revenue bonds and will follow up as early as next week with $25 million of variable-rate debt — a year after postponing the sale amid the market turmoil of late 2008.

CHICAGO — The Michigan State Building Authority is expected to enter the market Wednesday with $105 million of lease-backed, fixed-rate revenue bonds.

CHICAGO — Smaller urban hospitals are especially vulnerable to fallout from cost-cutting measures that are certain to be part of a final health care reform bill now being debated by Congress, said Moody’s Investors Service.