Indiana

CHICAGO — Indiana has suffered 14 straight months of falling revenues, prompting Gov. Mitch Daniels to again ordered a round of spending cuts — this time targeting higher education and contributions to employees’ deferred compensation accounts.

Indianapolis Mayor Greg Ballard has appointed a new president and five new members to the cash-strapped Marion County Capital Improvement Board, which manages the city’s sports venues and convention center.

Fitch Ratings downgraded $98 million of general obligation bonds issued for the Indianapolis-Marion County Public Library to AA from AAA.

CHICAGO — Voters in Ohio, Indiana, and Michigan were in the mood to say yes Tuesday, approving bond issues for a new hospital in Indianapolis, a capital improvement plan for Detroit Public Schools, and a measure allowing casinos to set up shop in Ohio’s four largest cities.

The Indianapolis-Marion County City-County Council has formed a committee to recommend solutions to the ongoing deficit at the Marion County Capital Improvement Board, which oversees the city’s sports venues and convention center.

Midwestern voters head to the polls tomorrow to cast decisions on elected offices, new casinos, and more than 125 ballot questions that would authorize more than $3.3 billion worth of borrowing, led by Detroit Public Schools' $500 million request and $750 million for a new public hospital in Indiana.

CHICAGO — Indiana has dropped a securities fraud complaint against Chrysler LLC after the automaker agreed to return $5.5 million of bonds that Tipton County issued to finance infrastructure for a now-abandoned transmission plant.

CHICAGO — Novi, Mich.-based Trinity Health Credit Group will enter the market today with $233 million of fixed-rate revenue bonds, followed by $102 million of variable-rate securities in two weeks to finance hospital projects in Indiana and Michigan.

Moody’s Investors Service last week downgraded Lafayette to A1 from Aa3, affecting just under $5 million of outstanding general obligation debt and $25.6 million of outstanding lease rental revenue bonds. Moody’s also dropped to $5.1 million of economic development income-tax supported bonds A3 from A2 issued by the city.

The Indiana Association of Cities and Towns said this week it would begin lobbying state lawmakers for new municipal taxing authority.

CHICAGO — The Indiana Finance Authority today is expected to price $225 million of new-money revenue bonds on behalf of Sisters of St. Francis Health Services Inc.

Indiana Gov. Mitch Daniels last week called for another round of budget cuts after reports showed revenue collections coming in 8% below original forecast.