Michigan

The state's top court Thursday will hear oral arguments for four controversial ballot proposals that have wound their way through the state's legal system.

Standard & Poor’s last week revised its outlook to positive from stable on Michigan State University and affirmed its AA long-term rating.

Michigan’s recent legislative action reforming its largest retirement system is a credit positive for local school districts, Moody’s Investors Service said last week.

Michigan Gov. Rick Snyder and Attorney General Bill Schuette last week filed court papers seeking to dismiss a ballot proposal that would protect collective bargaining rights by making them part of the state constitution.

The Detroit-Wayne County Airport Authority comes to market this week with new-money and refunding airport revenue bonds.

The Legislature Wednesday approved a handful of reforms to the state's massive public school employee retirement system, but delayed until after November one of the biggest decisions – whether to convert the entire system into a 401(k) plan.

Triple-A rated Oakland County Tuesday sold $58 million of wastewater bonds to finance the purchase of Pontiac's sewer system. The troubled Detroit suburb will use the cash to pay off its debt and eliminate a general fund deficit.

The Flint, Mich., City Council last week voted to file a lawsuit to prevent the new emergency financial manager from taking office, saying the city's financial position has significantly improved since the state took it over last December.

Residents in the three-county Detroit area approved a tax increase that will allow the Detroit Institute of Arts to stay open.

A state investigation into the Allen Park, Mich. finances revealed a myriad of financial and political problems, including a bond debt the city can barely pay.

Detroit on Thursday will offer $123 million of state aid-backed bonds that the city's chief financial officer says will help generate enough of a cash cushion to carry the city through the fiscal year.

Michigan officials on Wednesday took steps to ensure that emergency financial managers remain in place at three school districts and four cities after the election board formally approved putting a measure asking voters to repeal the management law on the November ballot.

A repeal of Michigan's controversial emergency management law would likely further challenge already fiscally troubled municipalities, Fitch Ratings said last week.

Michigan Treasurer Andy Dillon said Friday that legislators should consider crafting a new law for troubled municipalities after a state Supreme Court ruling allowed an effort to overturn the existing law on the November ballot.

For the second time this year, the Michigan retirement systems has made the debt-service payment for a struggling film studio. The state offered a unconditional guarantee as a back-up pledge when the project was financed in 2010.

Voters in the tri-county area that surrounds Detroit will face several millage increases - and only a few bond proposals -- in addition to filling political seats on next week's primary ballot.

The Michigan-appointed emergency manager of Highland Park Schools has converted the troubled suburban Detroit district into a charter-operated one, and hired a private firm to run the schools starting in the fall.

An Ann Arbor-based company announced last week it will help develop zoning for Detroit Mayor Dave Bing's plan to shrink the city's urban footprint to reflect its diminished population.

Michigan's top court Wednesday heard arguments over the font size on petitions for a ballot referendum to overturn the state's controversial emergency management law.

Moody's Investors Service last week affirmed its B1 rating and negative outlook on Detroit Public Schools, saying the district has seen improved financial results in 2011 and 2012, but still faces serious challenges.