Midwest

Michigan's Attorney General are asking the state supreme court to reconsider a recent ruling that budget officials warn ruling could cost the state up to $1.1 billion and dig a hole in the current-year budget.

Michigan is selling $266 million of state trunk line refunding bonds on Wednesday, hoping to see savings of nearly 8% on the original debt.

Six major Wisconsin health care systems are forming a partnership aimed at lowering costs and improving care.

Illinois will host a forum next month to meet with developers, air carriers and potential tenants as the state seeks to advance plans for a public private partnership to develop the South Suburban Airport.

Minnesota will take bids Tuesday on $904 million of general obligation bonds in a sale bolstered by a refunding piece and decision to skip its customary second annual new money issue.

Detroit launched a tender offer program for holders of $5.2 billion of water and sewer bonds Thursday night, offering tender prices that range from a high of 118 cents on the dollar to a low of 72.5 cents on the dollar as it aims for a massive refinancing that will end a months-long battle with water and sewer bondholders.

Illinois' decision to conduct a revenue volatility study that could aid in the eventual development of a more robust rainy day fund won the struggling state some rare praise in a report from Pew Charitable Trusts.

Bond insurer Syncora Guarantee Inc., Detroit's fiercest opponent in the city's bankruptcy case, said it is already gearing up for appeals process assuming the city's plan is confirmed in a trial set to start later this month.

Bankrupt Detroit has floated a plan asking holders of $5.2 billion of water and sewer bonds to tender their debt, allowing the city to refinance in an effort to achieve savings.

Michigan voters Tuesday approved a proposition to phase out an unpopular business tax that funds local governments while in the Detroit region, voters passed tax increases that will stave off financial emergencies for at least two local governments and threw long-time Wayne County Executive Robert Ficano out of office.