After three municipal bond sales in Michigan were postponed in the wake of Detroit's bankruptcy filing, three of the state's school districts are testing the market with sales expected in the next two weeks, Reuters reported yesterday. The Michigan Finance Authority is planning to sell $92 million of state aid revenue notes for the Detroit School District during the week of Aug. 19. The authority is also issuing $18 million of revenue bonds for Ypsilanti Community Schools in Washtenaw County on Wednesday. The school district in Sandusky, Mich., a town about 90 miles north of Detroit, is also planning to refinance about $4.9 million of unlimited tax general obligation bonds in a competitive sale on Aug. 21, according to Stauder, Barch & Associates, the district's financial adviser.
