Michigan

Voters across the Midwest elected new leaders, embraced the borrowing pleas of some school districts while nixing others, and rejected a controversial marijuana initiative in one state.

Michigan Gov. Rick Snyder said he will sign a $1.2 billion road funding package that cleared the legislature late Tuesday after months of fits and starts during ongoing negotiations.

The proposed legislation doesn’t radically alter Michigan law for the benefit of bondholders.

The Michigan Senate will begin reviewing the $1.2 billion transportation plan passed by the House the week of Oct. 26.

Allen Park, Mich., has delayed the settlement date for its purchase of $11.2 million of the $26.3 million of bonds offered to tender from a troubled issue for a failed movie studio project.

Local credits in Michigan will be hurt if a proposal to give their unlimited tax general obligation bonds a statutory first lien falls through, Fitch Ratings said in a special report.

Michigan Gov. Rick Snyder says his $715 million restructuring plan for Detroit’s school system is less expensive for the state than doing nothing.

Michigan will send $6 million Flint’s way to help cover the costs of reconnecting to Detroit’s water and sewer system after a year of struggling with polluted water from the Flint River.

The Holland School District’s sharp and unexpected enrollment decline illustrates the widespread credit challenges many Michigan districts face, says Moody’s Investors Service.

Michigan Gov. Rick Snyder has doubts about the need for a bill that would attach a statutory lien and trust to local unlimited-tax general obligation bonds.

Flint, Mich. will reconnect with Detroit’s water and sewer system after a year of struggling with polluted water from the Flint River.

Michigan lawmakers joined a national debate by advancing a bill to enact a statutory first lien on local issuers’ unlimited tax general obligation bonds.

Michigan Gov. Rick Snyder said this week the state plans to offer assistance to the city of Flint, which has faced serious drinking water pollution problems since breaking off from the Detroit Water and Sewerage Department last year.

At a state Senate hearing, Michigan treasury officials pushed back hard against a bill that would give local unlimited-tax general obligation bondholders a statutory lien.

Michigan Gov. Rick Snyder unveiled a new pilot program that will have state officials mentoring local officials of 10 struggling communities across the state.

Gov. Rick Snyder wants lawmakers to tackle his controversial restructuring of Detroit Public Schools, but his office has yet to release the legislation outlining the proposal.

A Michigan Senate committee will take up a statutory lien bill that is part of a national debate sparked in part by Detroit’s 2013 bankruptcy.

Wayne County, Mich.’s disclosure that the IRS is auditing $200 million of bonds is a credit negative, because the cash-strapped county could have a hard time covering the costs of the federal interest subsidy if is lost, Moody’s Investors Service said Friday.

The Michigan Treasurer will take over 16 financially distressed school districts under a new early-warning system passed by lawmakers in June.

The Wayne County Commission Thursday approved a 2016 budget that the Michigan county’s top executive called crucial to its recovery from its financial emergency.