Michigan

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.

The Internal Revenue Service is conducting a targeted audit of $200 million of recovery zone economic development bonds issued in 2010 by the Wayne County Building Authority in Michigan to finance a jail facility that was never completed.

The city of Flint, Mich. has asked Gov. Rick Snyder for $30 million to tackle contamination in its water supply, which has been a problem since the city broke off from the Detroit Water and Sewerage Department.

As it prepares to sell bonds, the Wayne County Airport Authority, which runs Detroit’s airport, is highlighting its legal and political separations from its struggling home county, which is in the midst of a financial emergency.

Wayne County, Mich. Executive Warren Evans on Sept. 10 issued his first order under the county’s newly inked consent agreement with the state.

A statutory lien may not be enough for investors in light of the severe financial stress facing Detroit Public Schools, investors say.

Dramatic enrollment declines at the long-troubled Detroit Public Schools prompted downgrades from Standard & Poor’s on a chunk of the district’s state-aid backed bonds.

Detroit water and sewer bonds won an upgrade from Fitch Ratings amid improving operations.

Standard & Poor's Tuesday removed Wayne County's junk rating from Creditwatch Negative, the latest piece of good ratings news tied to the county's consent agreement with the state of Michigan.

A struggling hospital in an affluent Detroit suburb has merged with Ascension Health, the largest non-profit health care system in the country.

Expectations of nearly $1 billion in new revenue for rebounding Michigan would not be enough to offset shortfalls if the Legislature and Gov. Rick Snyder enact a plan to rely on the general fund to finance road repairs, warns a new report.