Caitlin Devitt

Buoyed by income tax revenue growth and reduced healthcare spending, Minnesota is on track to enjoy a more than $1 billion surplus, state fiscal officials said Thursday.

Moody's Investors Service said Tuesday it is maintaining its negative outlook on the non-profit health care sector for 2015, warning that key economic and financial conditions are expected to remain weak.

Detroit emergency manager Kevyn Orr said he plans to resign from his position in the new few weeks and that he hopes the city will be allowed to formally exit bankruptcy by Christmas.

A federal judge has sentenced former Ohio deputy treasurer and Chicago comptroller Amer Ahmad to 15 years in prison for his role in kickback scandal involving state investment business at the Ohio treasurer’s office.

Ottawa County, Mich., is bringing $29 million of gilt-edged federally taxable bonds to market on Wednesday to pay off a chunk of its unfunded pension liability, the first of several similar deals that may be on the horizon from local Michigan issuers.

Michigan Gov. Rick Snyder is urging lawmakers to overhaul the state's gas tax formula within the next three weeks to raise up to $1.4 billion or more in new annual road funding.

With a $29.5 million bond sale set for next week, University of Cincinnati is poised to become the first public university to tap into the increasingly popular market.

At least two northwest Indiana counties put together a preliminary bid on the bankrupt Indiana Toll Road that's expected to be at least $4 billion, while three other counties opted out of the proposal.

The state of Michigan may come to market in the next several weeks with a $450 million bond deal to finance a controversial new hockey stadium in Detroit.

The Gary/Chicago International Airport, located in struggling Gary, Ind., is making its first bond market appearance this week with the sale of $30 million of tax increment-backed bonds.

Ohio voters shot down 13 of 17 levy requests by school districts in the recent election, a series of defeats that Moody's Investors Service warns could mean pressure the fiscal positions of several of the districts.

A group of northwest Indiana counties is eyeing a bid for a 75-year lease of the Indiana Toll Road that would be financed with more than $4 billion of tax-exempt revenue bonds.

The Michigan Senate approved a new road funding tax that could raise as much as $1.5 billion in new annual funding, marking a victory for Gov. Rick Snyder.

The Chicago suburb of Bridgeview is restructuring $2 million of TIF bonds — and attaching its general obligation pledge to the debt — to help ease a massive debt tied to a troubled soccer stadium.

A Chicago-based fiscal watchdog group praised Cook County, Ill.'s proposed 2015 $3.7 billion budget for tackling a deficit without any new taxes, but warned the "enormous" problems lie ahead tied to pension problems and the county's massive public health system.

The federal judge overseeing Detroit's bankruptcy has ordered mediation to resolve a dispute over the city's legal bills, which total $140 million and are climbing.

For the fourth time, Posey County, Ind. is remarketing $1.26 billion of short-term notes to raise funds for a controversial $2.5 billion fertilizer plant.

The outcome of Detroit's high-profile bankruptcy highlights the growing tension between pension obligations and bond debt for distressed governments while leaving a lack of legal clarity on the treatment of general obligation bonds.

The bankruptcy judge overseeing Detroit's Chapter 9 case confirmed the city's plan of confirmation Friday, capping the largest municipal bankruptcy case in the U.S. by endorsing a plan that favored pensioners over bondholders

Standard & Poor's said Detroit's bankruptcy will not affect the agency's general obligation ratings despite "months of headlines and court battles."