Caitlin Devitt

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.

A Michigan appeals court ruling clipped the authority of the state’s emergency managers in the first case examining the extent of their power under the state’s law for distressed local governments.