Public finance

In a written ruling outlining his verbal affirmation of Detroit's bankruptcy exit plan, the federal bankruptcy judge overseeing the case warned that if Michigan does not act to assure that cities can pay their pensions, it may mean a repeat of the high-profile bankruptcy.

Missouri's proposed $2 billion upgrade of I-70 could be funded by tolling the 200-mile link between Kansas City and St. Louis.

NEBRASKA

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell two basis points to 4.29% in the week ended Dec. 31, from 4.31% in the previous week.

Lack of action on federal transportation funding means growth in states' use of public-private partnerships to build, fund, and operate large projects.

The Motor City paid $170 million in attorney and advisor fees during the largest municipal bankruptcy in the U.S.

NEW YORK

FLORIDA

Buena Vista, Va., will stop making payments on a golf course bond issue that its officials say has become an albatross around the small city's finances.

Short-term extensions of federal transportation spending are likely to continue through 2015 as lawmakers struggle with a gasoline tax that can't pay the bills.

WISCONSIN

Credit rating agencies have made strides in implementing mandatory reforms, the SEC said in recent reports that found the raters also need to improve in several areas, including the way they handle conflicts of interest.

Connecticut receives $30 million in grants for restoration and resiliency to infrastructure in municipalities affected by Hurricane Sandy, Gov. Dannel Malloy announced.

MASSACHUSETTS

ARIZONA

For the week ended Dec. 24, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, gained three basis points to 4.31% from the 4.28% the previous week.

NEW YORK

ALABAMA

Fairfax and Loudoun counties in Virginia formally closed on $600 million of federal loans for Silver Line rail project to Dulles Airport.

A three-mile segment of the Coalfields Expressway will be the first public-private partnership project to be built under West Virginia's new P3 law.