Midwest

CHICAGO — Warning that municipalities across Michigan are facing serious fiscal challenges, freshman Gov. Rick Snyder Monday unveiled a package of bills that would overhaul local governance while slashing state aid by a third.

CHICAGO — Minnesota is seeking underwriters for a summer sale of $50 million of revenue bonds in what is likely the final state financing needed to fund a statewide digital-radio communications system for public safety personnel.

CHICAGO — The new administration running Cook County, Ill., is conducting its first request for proposal process to assemble a finance team to lead debt issuance over the next two years.

CHICAGO — The Minnesota attorney general’s office and lawyers representing state retirees in a lawsuit challenging legislation that curbed future increases in their pension benefits will return to court Tuesday to argue their sides.

CHICAGO — Wisconsin Gov. Scott Walker has proposed a $1.12 billion capital budget for the next two-year budget cycle, down sharply from the $1.6 billion plan adopted two years ago.

CHICAGO — The Illinois Senate could vote as early as Wednesday on a revamped financing scheme, which includes a cigarette-tax hike that would allow the state to continue issuing bonds and keep a $31 billion capital budget on track ahead of a court decision on the original plan’s ­legality.

CHICAGO — Ohio Gov. John Kasich Tuesday unveiled a highly anticipated two-year budget that tackles an $8 billion shortfall and avoids raising taxes by cutting spending, selling state assets, and pushing off near-term debt payments.

CHICAGO — South Dakota lawmakers have approved a $3.9 billion all-funds fiscal 2012 budget that fulfills Gov. Dennis Daugaard’s promise to eliminate the state’s structural deficit within one year without dipping into reserves or raising taxes.

Detroit City Council President Charles Pugh and president pro tempore Gary Brown said they plan to meet with Michigan Gov. Rick Snyder this week to dissuade him from enacting major cuts in local aid from the state.

Detroit Public Schools emergency financial manager Robert Bobb last week unveiled a plan to lease 41 failing public schools — about a quarter of its schools — to private charter school operators.