Nora Colomer

Michigan Gov. Rick Snyder’s administration and lawmakers will work in the coming weeks to trim $333 million from the 2016 and 2017 budget plans due to a downward revision of revenues expected in the current biennium.

The use of “social impact bonds” as an alternative financing tool is on the rise and news that Chicago’s first venture into the space will pay off for investors demonstrates the benefits, market participants said.

The Indianapolis Airport Authority comes to market as soon as Thursday with a $171 million refunding structured to bring down its debt service costs on the long end.

East Cleveland, Ohio's pursuit of Chapter 9 bankruptcy shouldn't hurt the city's school district, Moody's Investors Service says.

A group of local and national foundations have pledged $125 million to help Flint, Michigan deal with its water contamination crisis.

Michigan’s state treasurer has sided with the state Senate over the state House after the two houses developed different legislation to restructure Detroit Public Schools.

Indianapolis-based Umbaugh has named veteran Ohio public finance professional Mark Miller as its director in that state.

Voters in the consolidated governments of Indianapolis and Marion County, Indiana will decide the fate of an income tax increase to fund major upgrades to public transportation.

Detroit Public Schools is moving perilously closer to a possible default or Chapter 9 filing, Moody's Investors Service said in a commentary.

Wayne County, Mich., is open to moving its unfinished downtown Detroit jail to make way for a soccer stadium, but only if it is not saddled with the money and debt it has already sunk into the project

East Cleveland, Ohio says it is insolvent and bankruptcy is its best option to preserve essential public services in the city of 18,000, which has no bond debt.

Voters in Indiana and Michigan responded favorably to requests for hundreds of millions of dollars in requests for bond borrowing authority.

State legislation to deal with about $500 million in Detroit Public Schools debt is headed to Michigan’s full House after winning approval Wednesday.

Fitzgerald Public School District in Macomb County, Michigan lost its investment grade rating on its limited tax general obligation bonds and remains at risk of its unlimited tax GOs also falling to a speculative grade.

Debate began Tuesday in the Michigan House on a $715 million restructuring of Detroit Public Schools amid mounting growing pressure to act as the district’s fiscal crisis prompted a two-day district-wide “sickout.”

Voters in Indiana and Michigan headed to the polls Tuesday will decide the fate of more than $1 billion in school district borrowing requests.

Williston, North Dakota’s sales tax debt took a six-notch downgrade to junk amid continued oil and price declines.

The Michigan House signed off on a $54 billion fiscal 2017 budget that provides more money to deal with Flint’s water contamination crisis and record spending for kindergarten through 12th grade education.

Ohio-based American Municipal Power Inc. will use a portion of the proceeds from its upcoming sale of $137.5 million in tax-exempt project revenue bonds to finance the purchase of an ownership interest in the Greenup Hydroelectric Facility.

Detroit Public Schools says its prior administration’s mishandling of $30 million in federal funds won’t add to the fiscal burden the state is being asked to cover as part of a sweeping restructuring.