Michigan

Michigan is prepping its first general obligation bond issue of 2016 amid growing uncertainty about the long-term impacts on the state’s credit from Flint’s water contamination crisis and the financial plight of the Detroit Public Schools.

A bill to provide nearly $50 million in state funding to keep Detroit Public Schools open until the end of the school year is headed to the state Senate after clearing the House Thursday.

Michigan Gov. Rick Snyder believes the $232 million he’s asked of state lawmakers will be enough to deal with the Flint water crisis, but rating agency Standard & Poor’s showed doubts, removing the state’s positive rating outlook.

Detroit Public Schools got some positive news on Wednesday by way of nearly $50 million of emergency funding that cleared a House committee Wednesday.

The inaction of local, state, and federal authorities in Flint took center stage during the second congressional hearing on the Flint water crisis.

Voter approval of two property tax millage requests from the junk-rated Pontiac City School District should aid its fiscal recovery efforts by raising fresh funds for capital and relieving pressures on its general fund, Moody’s Investors Service says.

Detroit Public Schools may run out of funds to meet payroll after April 8, the district’s new transition leader told state lawmakers who are being asked to approve $50 million in emergency aid.

Genesee County, Mich., and the Karegnondi Water Authority’s A2 Moody's ratings remain intact despite the risk associated with Flint’s support for the new water system.

A labor-owned insurance company based in Washington, D.C.-based, has pledged $25 million in low-cost loans to aid the removal of lead in Flint, Mich.’s contaminated water supply, the city’s mayor said Sunday.

Water contamination-related lawsuits filed in Chicago and Flint, Mich. stand to influence the sector nationally as the cases draw more scrutiny to the dangers associated with older lead pipe-based systems, Fitch Rating says in a new report.

Michigan Gov. Rick Snyder said he won't resign despite intensifying calls for him to step down.

Wayne County, Mich.’s books are back in the black for the first time in eight years and the county will soon ask to be released from a state consent agreement, county Executive Warren Evans says.

A bipartisan bill that would provide $220 million of federal funds to Flint, Mich., as well as any other community facing a drinking water emergency, appears to be is stalled in the Senate.

Michigan Gov. Rick Snyder officially placed retired bankruptcy judge Steven Rhodes in charge of the proposed Detroit Public Schools restructuring, giving him the new title of “transition manager.”

The retired judge who presided over the city of Detroit’s Chapter 9 bankruptcy case has been called upon to play a key role in the restructuring of Detroit Public Schools.

As two new bankers take their seat on Fifth Third Securities’ public finance team, the firm says it’s on the lookout to add to its ranks.

Additional spending being proposed for Flint, Detroit schools, and transportation could end up devouring the Michigan revenue growth expected in its fiscal 2017 budget, according to Moody's Investors Service.

Detroit City Mayor Mike Duggan warned that the city faces significant underfunding of its pension liabilities and hinted at a lawsuit against the team that led the city through its bankruptcy exit.

Michigan lawmakers on Tuesday approved a $30 million Flint relief bill that brings the total emergency funding dedicated by the state to the city’s water crisis to $70 million.

The Midwest lagged the national uptick in issuance last year as the conservative region did take advantage of low interest rates to refund debt but held tight the purse strings on new money borrowing.