Caitlin Devitt

Michigan Gov. Rick Snyder declared Wayne County, home of Detroit, to be in a financial emergency, just one day after a state review team made the recommendation.

The Detroit suburb of Allen Park is considering tendering $31 million of troubled bonds that have led to general fund deficits, a state takeover and federal securities fraud charges.

Burleigh County, N.D., is gearing up for the issuance of $90 million of sales-tax backed bonds to finance a new jail.

The Detroit City Council Tuesday voted to raise water and sewer rates, reversing an earlier vote that city and state officials had warned could bring additional state oversight down on the city.

Even as it stepped closer to a Michigan state takeover, Wayne County's county's chief executive said the struggling government would not travel down the same path as its largest city, Detroit.

Standard & Poor’s Tuesday raised its outlook on Michigan’s AA-minus rating to positive from stable.

The Michigan House is expected to adjourn for the summer without voting on a controversial plan to generate new road money for the state.

Michigan officials are touting the state's recovery from the Great Recession to investors considering buying $990 million of revenue bonds, the building authority's largest deal to date.

Indiana fiscal officials released final year numbers Thursday, saying the state brought in $210 million more than it spent in 2015, boosting its prized reserve fund to $2.1 billion.

Ohio-based boutique investment firm Lancaster Pollard, which specializes in health care and housing, has a new leadership team.

The board of Cook County, home to Chicago, approved a controversial sales tax increase that will go largely to fund the county's troubled pensions system.

Nebraska relies on Chapter 9 as a quick and easy way to restructure troubled special taxing district debt.

Former Cook County CFO and Illinois Rep. Henry Woods “Woody” Bowman died in a car crash in Michigan on July 10.

Michigan's Oakland University has become the second school in the state to forgo state aid in favor of a large tuition hike.

Ohio now has more than $2 billion in its rainy-day fund, the highest in the state's history, officials said.

Michigan Gov. Rick Snyder signed into law an eight-bill package boosting the state treasurer's power over distressed school districts and creating an early-warning system for districts that could face a deficit.

The Michigan Treasurer and Detroit officials warned Detroit City Council members that their rejection of a water and sewer rate increase could spark additional state oversight.

Months after the original private owner of the publicly owned toll road went bankrupt, the new owner, Australian fund manager fund IFM Investors, is set to complete the financing of its takeover bid next week.

After years of political stalemate, Michigan lawmakers appear close to a deal to tackle the state's aging roads and bridges with legislation that relies heavily on general fund dollars.

Standard & Poor's, in a comment, said it is not taking action on Illinois' bond rating but is keeping a close eye on stalemated budget negotiations.