Michigan

Flint, Michigan won’t walk away from its participation in the $285-million bond financed pipeline the Karegnondi Water Authority is building to deliver water to the city, a decision aided by state help and other concessions, Mayor Karen Weaver said Tuesday.

Allen Park, Michigan is readying a conversion of $16.7 million of debt from a short-term to a long-term structure in a move designed to help it climb back toward investment-grade territory after a disastrous venture into a movie studio.

Kevyn Orr, who put Detroit into bankruptcy, said Chapter 9 is an option Chicago should have on the table as it steers its way through financial problems.

Detroit plans to refund more than $600 million of general obligation bonds for savings in a deal that would mark its first GO sale since exiting its historic Chapter 9 in late 2014.

The University of Michigan will sell $300 million of high grade commercial paper next week to fund ongoing capital projects and refund debt.

Wayne County, Michigan's fiscal progress landed it a positive ratings credit outlook from S&P Global Services that brings it closer to returning to investment grade.

Michigan lawmakers finalized a controversial Detroit Public Schools restructuring package that is supposed to rescue the struggling system from insolvency.

In better financial health, Inkster, Mich., will earn its release from a state-mandated emergency consent agreement by the end of the month.

A compromise package to rescue Detroit Public Schools from looming insolvency at a cost of $617 million is headed to the state Senate.

Warren Evans, County Executive of Wayne County, Michigan, plans to use proceeds of the county’s wastewater treatment center on pension debt.

Utica Community Schools in Macomb County, Michigan, suffered a three-notch downgrade as declining enrollment takes its toll on the district’s books.

The Regional Transit Authority of Southeast Michigan plans to ask voters in Wayne, Oakland, Macomb and Washtenaw counties to approve a 1.5 mill property tax increase for improved transit .

Michigan’s struggling cities won’t be able to reverse their declining fiscal health if they continue to depend on the state’s faulty revenue sharing system, the Michigan Municipal League said in a report.

Wayne County, Mich. County Executive Warren Evans has said he intends to make the bid to end the county’s emergency consent agreement by the end of 2016.

Michigan’s Republican legislative leaders and Gov. Rick Snyder have settled on a budget framework that cuts funding for a proposed state water infrastructure fund to offset dwindling tax revenue while leaving intact $165 million in proposed aid for Flint.

Bridgeport-Spaulding Community School District and New Haven Community Schools have manageable fiscal stress and will not require emergency management.

Michigan Gov. Rick Snyder’s administration and lawmakers will work in the coming weeks to trim $333 million from the 2016 and 2017 budget plans due to a downward revision of revenues expected in the current biennium.

A group of local and national foundations have pledged $125 million to help Flint, Michigan deal with its water contamination crisis.

Michigan’s state treasurer has sided with the state Senate over the state House after the two houses developed different legislation to restructure Detroit Public Schools.

Detroit Public Schools is moving perilously closer to a possible default or Chapter 9 filing, Moody's Investors Service said in a commentary.