Michigan

A bill would extend the sunset date of the law allowing local governments to issue pension obligation bonds and OPEB bonds past Dec. 31.

Detroit issued bonds Friday to fund the successful tender offer.

Detroit originally planned to sell $112 million of new money GOs but boosted the deal to $135 million as buyers sought the speculative-grade paper.

Dearborn plans to price $35 million of bonds and Muskegon County plans $45 million.

A junk-rated $112 million deal without state backing will test the market's perceptions of the city's recovery from its Chapter 9 bankruptcy.

Benton Harbor Area Schools' fiscal emergency has ended.

Almost $7.5 billion of municipal bonds head into the marketplace in this holiday-shortened week.

The results stand to influence the municipal market through capital planning and budget actions with potential impacts on ratings and borrowing levels.

State officials say the P3 structure will allow it to complete the Interstate 75 project a decade early.

Detroit will issue $112 million of new money GO bonds and is also considering issuing refunding bonds in December.