Caitlin Devitt

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.

Six months after an Indiana school district defaulted on bond payments, Standard & Poor's affirmed its A rating on the bonds and removed them from negative CreditWatch.

Michigan Gov. Rick Snyder Thursday appointed a review team to delve into Wayne County’s finances, a day after a state board found the county to be in a probable state of fiscal stress.

Cook County, Ill. President Toni Preckwinkle said she plans to fast track her proposal to raise the sales tax by one percent by calling for a vote this month on the controversial proposal.

A Michigan emergency board Wednesday found that the state’s most populous county faces probable financial stress, a finding that is the first step toward a partial or state takeover.

Issuers need to disclose any and all bank loans so that investors and ratings analysts have a clear picture of the $60 billion market, panelists said at a Bond Buyer event in Chicago.

Issuers from Illinois, Wisconsin and Michigan compared notes on market challenges at the Bond Buyer's Midwest conference; Illinois credits face the toughest sledding.

Indiana is bringing $95 million of highly-rated taxable appropriation-backed bonds to market this week to finance an upgrade to the state's most popular sports facility, the Indianapolis Motor Speedway.

Cook County, Ill., Board President Toni Preckwinkle Tuesday formally proposed raising the sales tax to shore up the county's $6.5 billion pension shortfall, saying it's necessary because Springfield has refused to pass her reform proposal.

Public finance attorney Maribel Mata Benedict has joined Detroit-based law firm Miller Canfield in the firm's Chicago office from Katten Muchin Rosenman.

Cook County President Toni Preckwinkle Monday announced she has tapped a Chicago Park District executive to act as the county’s new budget chief.

Wayne County, Mich. is reportedly asking a local businessman to buy a half-built, bond-financed jail in downtown Detroit as well as a historic building that houses county administrative offices as it scrambles to get a handle on a deteriorating fiscal position.

Michigan officials downplayed the possibility of bankruptcy for Wayne County as the county begins to walk down the same path as its largest city, Detroit.

Wayne County, Mich. officials say they expect investor interest in an upcoming financing though it will come just days after the county executive requested that the state step in and declare a financial emergency.

Michigan Gov. Rick Snyder touted the state’s new $54 billion 2016 budget as a spending plan that will continue the state’s “path to prosperity.”

A federal judge Tuesday said federal approval of a controversial $1.5 billion toll road between Indiana and Illinois was “arbitrary and capricious” and in violation of federal environmental law.