Whikehart plans to leave city government altogether.
The accountant announced his intention to run for office Saturday morning.
City Council member Jim Lienhoop will announce that he's running for mayor at an event Saturday.
Former U.S. Attorney Joe Hogsett will make his campaign for Indianapolis mayor official this Wednesday.
The mayor describes it as a personal decision, unrelated to local politics. He says he won't suggest a replacement on the Republican ballot.
The crimes were first brought to the mayors attention last month after going on for three years.
Many Democrats saw the U.S. attorney as a promising candidate for several possible positions, including Indianapolis mayor, governor and U.S. Senator.
The mayor of Columbus demoted the parks director, saying he was misusing credit cards and overspending his budget.
Terre Haute Mayor Duke Bennett is proposing a $5 million tax anticipation loan to cover costs while the city waits for more taxes to come in.
Patriot Porcelain is investing $16 million to renovate an old factory and plans to create 140 jobs.