Midwest

CHICAGO — Detroit will enter the market Thursday with $250 million of state aid limited-tax general obligation bonds that the city will use to erase a chunk of its accumulated deficit.

CHICAGO — St. Louis-based Ascension Health on Wednesday launches the first piece of its $1.34 billion new-money and restructuring deal that will raise funds for projects across its network, while also allowing the system to further reduce risk exposure and lower its maximum annual debt service.

CHICAGO — Michigan would abolish its 10 bond-issuing authorities and consolidate them into the newly created Michigan Finance Authority under an executive order issued by Gov. Jennifer Granholm last week.

CHICAGO — Moody’s Investors Service Friday revised its outlook to negative from stable on Cincinnati’s general obligation debt as the city faces declining income tax revenue, which makes up nearly two-thirds of its general fund.

CHICAGO — With Illinois more than $700 million in arrears on aid it owes its public universities, the Senate approved a measure yesterday that would allow the universities to issue short-term debt to manage through the ongoing payment delays.

CHICAGO — Underwriters, financial advisers, and bond counsel interested in working on upcoming general obligation issues for Cook County, Ill., have until tomorrow at 10 a.m. to submit their interest to the county.

CHICAGO — Faced with aging infrastructure and a pledge to not raise taxes, Indianapolis Mayor Greg Ballard wants to use public-private partnerships to raise new revenue that could fund water and sewer upgrades and other citywide projects.

CHICAGO — Moving to take full advantage of the taxable Build America Bond program, Illinois plans to sell as much as $1 billion of general obligation BABs over the next two weeks to raise funds for its $31 billion capital program.

CHICAGO — In some rare positive news, Minnesota’s new revenue forecast released yesterday trimmed $209 million from the previously projected $1.2 billion deficit in the current two-year budget, although a $5.8 billion hole looms next year as the state prepares a new spending plan.

A bill that would have paved the way for Nebraska cities to create separate political subdivisions to issue bonds and impose new taxes appeared dead for the year after lawmakers sent it back to committee Monday.