Michigan

The Detroit suburb of Allen Park is considering tendering $31 million of troubled bonds that have led to general fund deficits, a state takeover and federal securities fraud charges.

The Detroit City Council Tuesday voted to raise water and sewer rates, reversing an earlier vote that city and state officials had warned could bring additional state oversight down on the city.

Even as it stepped closer to a Michigan state takeover, Wayne County's county's chief executive said the struggling government would not travel down the same path as its largest city, Detroit.

Standard & Poor’s Tuesday raised its outlook on Michigan’s AA-minus rating to positive from stable.

The Michigan House is expected to adjourn for the summer without voting on a controversial plan to generate new road money for the state.

Michigan officials are touting the state's recovery from the Great Recession to investors considering buying $990 million of revenue bonds, the building authority's largest deal to date.

Michigan's Oakland University has become the second school in the state to forgo state aid in favor of a large tuition hike.

Michigan Gov. Rick Snyder signed into law an eight-bill package boosting the state treasurer's power over distressed school districts and creating an early-warning system for districts that could face a deficit.

The Michigan Treasurer and Detroit officials warned Detroit City Council members that their rejection of a water and sewer rate increase could spark additional state oversight.

After years of political stalemate, Michigan lawmakers appear close to a deal to tackle the state's aging roads and bridges with legislation that relies heavily on general fund dollars.

Michigan Gov. Rick Snyder Thursday appointed a review team to delve into Wayne County’s finances, a day after a state board found the county to be in a probable state of fiscal stress.

A Michigan emergency board Wednesday found that the state’s most populous county faces probable financial stress, a finding that is the first step toward a partial or state takeover.

Issuers from Illinois, Wisconsin and Michigan compared notes on market challenges at the Bond Buyer's Midwest conference; Illinois credits face the toughest sledding.

Standard & Poor’s has put Wayne County’s speculative grade rating on CreditWatch with negative implications following its request for state intervention.

Wayne County, Mich. is reportedly asking a local businessman to buy a half-built, bond-financed jail in downtown Detroit as well as a historic building that houses county administrative offices as it scrambles to get a handle on a deteriorating fiscal position.

Michigan officials downplayed the possibility of bankruptcy for Wayne County as the county begins to walk down the same path as its largest city, Detroit.

Wayne County, Mich. officials say they expect investor interest in an upcoming financing though it will come just days after the county executive requested that the state step in and declare a financial emergency.

Michigan Gov. Rick Snyder touted the state’s new $54 billion 2016 budget as a spending plan that will continue the state’s “path to prosperity.”

Wayne County, Mich. Executive Warren Evans is asking for state intervention to help tackle the county’s fiscal woes, submitting on Wednesday a formal request that a financial emergency be declared.

A Michigan appeals court ruling clipped the authority of the state’s emergency managers in the first case examining the extent of their power under the state’s law for distressed local governments.