Nora Colomer

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.”