Michigan

CHICAGO — Michigan lawmakers are considering a package of bills to provide relief for local governments struggling to make debt-service payments on special assessment debt issued for failing developments.

CHICAGO — The Lansing Board of Water and Light will price $250 million of new-money utility system revenue bonds Tuesday to finance construction of a new natural gas plant in Michigan.

CHICAGO — The Board of Trustees of Western Michigan University, one of the state’s largest colleges, is expected to enter the market by the end of May with $68 million of mostly new-money debt.

CHICAGO — As Michigan lawmakers work to finish a fiscal 2012 budget by the end of May, fiscal officials said Monday the long-struggling state is poised to enjoy its strongest revenue growth in a decade.

A Detroit-based group opposed to Michigan’s controversial new emergency financial-management law filed petition language with the state Board of Canvassers for a referendum on it.

CHICAGO — Michigan Gov. Rick Snyder’s choice for emergency manager of Detroit ­Public Schools will enjoy broader powers than his predecessor, but faces a structural deficit that has increased more than 60% in two years.

Michigan Gov. Rick Snyder is now expected to wait until the Legislature ­approves a fiscal 2012 budget before introducing a draft measure to advance a controversial plan to build a publicly funded bridge over the busy trade route spanning the Detroit River.

CHICAGO — Michigan Gov. Rick Snyder warned Wednesday that 23 school districts across the state, most clustered around the Detroit area, qualify for a state takeover under its new emergency financial management law.

CHICAGO — Michigan Gov. Rick Snyder is floating a draft bill to advance a controversial and long-stalled $3.8 billion, partially bond-financed bridge spanning the busy trade route between Detroit and Canada.

CHICAGO — Detroit’s two pension funds late Monday filed a lawsuit against Michigan Gov. Rick Snyder and Treasurer Andy Dillon over the state’s controversial emergency financial management law.

CHICAGO — A failed film studio project touted by a Hollywood producer has left a Detroit suburb struggling to cover payments on $31 million of bonds that have sparked an informal investigation by the Securities and Exchange Commission.

CHICAGO — Michigan’s fiscal 2012 budget took a big step towards completion this week as Gov. Rick Snyder and his fellow Republican leaders announced a compromise plan to increase taxes.

CHICAGO — Detroit Mayor Dave Bing told the City Council Tuesday that failure to implement his budget proposals would lead to a state-mandated emergency financial takeover.

CHICAGO — Michigan Thursday will competitively sell $150 million of taxable general obligation bonds to finance loans to help local school districts cover their debt-service payments.

CHICAGO — The Detroit suburb of Hamtramck has pressed Michigan officials to allow it to become the state’s first city to file for bankruptcy. Now it has reached a financial agreement with Detroit that, together with a hoped-for $2.5 million state loan, could stabilize its finances for at least the next 10 months.

CHICAGO — Mayor Dave Bing Tuesday said he would challenge newly released U.S. Census results that show Detroit’s population dropped by a quarter in the last decade to 713,000, the lowest head count since 1910.

CHICAGO — Warning that municipalities across Michigan are facing serious fiscal challenges, freshman Gov. Rick Snyder Monday unveiled a package of bills that would overhaul local governance while slashing state aid by a third.

Detroit City Council President Charles Pugh and president pro tempore Gary Brown said they plan to meet with Michigan Gov. Rick Snyder this week to dissuade him from enacting major cuts in local aid from the state.

Detroit Public Schools emergency financial manager Robert Bobb last week unveiled a plan to lease 41 failing public schools — about a quarter of its schools — to private charter school operators.

CHICAGO — Michigan is set to enact a controversial law that expands state power over fiscally stressed local governments and gives emergency managers broader authority, including the ability to terminate labor contracts.