Michigan

Oakland County will require the cash-strapped city of Pontiac to prepay the county on a monthly basis for police services that it is set to begin providing next month.

CHICAGO — The Michigan State Building Authority Tuesday will begin pricing $647 million of bonds to generate debt service relief and finance various capital projects.

Novi, Mich.-based Trinity Health has closed its acquisition of Chicago's Loyola University Health System in a deal that totals more than $1 billion.

Moody's Investors Service last week affirmed its Aa2 and Aa3 ratings and stable outlook on $14.4 billion of outstanding bonds enhanced by the Michigan school bond qualification and loan program.

CHICAGO — After weeks of escalating debate with Mayor Dave Bing, the Detroit City Council Thursday approved a compromise $3 billion 2012 budget that restores half of the $50 million the council had trimmed from Bing's original proposal.

CHICAGO — Detroit Public Schools, which is under state receivership, plans to come to market later this year with a $200 million deficit borrowing to erase two-thirds of the red ink in its fiscal 2012 budget.

Oakland County Treasurer Andy Meisner last week announced a lawsuit against Fannie Mae and Freddie Mac for unpaid real-estate transfer taxes as part of the Michigan county's larger effort to combat foreclosures.

CHICAGO - Standard & Poor's revised its outlook to negative from stable on a small Michigan hospital that is facing the possibility of accelerated debt-service payments on its debt, all of which has been either privately placed with a bank or is in the form a bank loan.

The Michigan Supreme Court last week accepted Gov. Rick Snyder's request to hear a case regarding the constitutionality of taxing retirement income.

CHICAGO - Michigan Gov. Rick Snyder has created a new school system that will take over the state's worst-performing schools, starting next year with 39 in Detroit.

CHICAGO — A Michigan city in receivership paid interest rates in the 6% range to sell a chunk of financial recovery bonds last week.

CHICAGO - One of Michigan's top bond firms has launched a program to help fiscally stressed local governments navigate a slew of new laws crafted by Gov. Rick Snyder and passed by the Legislature this year.

Michigan Gov. Rick Snyder, Treasurer Andy Dillon, and budget director John Nixon met with analysts from all three major rating agencies earlier this week in a bid to boost the state’s credit.

CHICAGO — The Michigan Strategic Fund will enter the market next week with $122 million of revenue bonds to refund debt issued seven years ago to acquire and renovate a downtown Detroit landmark.

CHICAGO — Following passage of a new state law aimed at assuaging investor fears of bankruptcy, the city of Ecorse next week will sell $9.3 million of financial recovery bonds, making it one of Michigan’s only municipalities to enter the bond market while under state-controlled receivership.

The Michigan Legislature has passed a pair of bills that would lower the official municipal-population threshold for levying certain income and utility taxes to 600,000 from 750,000. The measures would effectively apply only to Detroit and allow it to continue collecting the taxes despite recent Census figures that show the city’s population fell to 713,000 during the last decade.

CHICAGO — Michigan-based Kalamazoo College this week is privately placing $36.4 million of bonds, a move that will raise new money and take all of its bonds off the public market to escape a bond covenant that has grown too ­restrictive.

CHICAGO — With the budget behind him, Michigan Gov. Rick Snyder said his top priority is swift passage of a bill that allows the state to enter into a public-private partnership to build a $4 billion Detroit River bridge that will be partially financed with tax-exempt bonds.

CHICAGO — The Michigan Legislature late Thursday was poised to approve a final $46.5 billion 2012 spending plan, marking the earliest finish to the state’s fiscal budget process in three decades.

CHICAGO — Detroit Mayor Dave Bing late Tuesday said he would veto a fiscal 2012 budget passed earlier in the day by the City Council that cuts more than $50 million from his $3.1 billion proposal.