Chicago Schools Selling Headquarters
Chicago Public Schools has reached an agreement to sell its downtown headquarters for $28 million.
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The long saga over the fate of $98 million of defaulted St. Louis convention center hotel bonds is nearing an end with the trustee planning to make a final distribution payment of $1.4 million to bondholders next month.  more »
The Michigan Finance Authority sold $300 million of bonds for Detroit's convention center Wednesday, seeing yields on the tax-exempt debt ranging from 2.73% on 10-year maturities to 3.44% on 20-year maturities.  more »
The Chicago Infrastructure Trust is launching a new initiative that could lead to private financing for the installation of combined heat and power systems in some public buildings.  more »
The trial on Detroit's debt-adjustment plan adjourned after court-appointed finance expert Martha Kopacz testified that its plan to exit Chapter 9 bankruptcy is feasible.  more »
Chicago City Treasurer and former public finance banker Stephanie Neely is stepping down from the elected post to return to the private sector.  more »
More details on Detroit's crucial settlement with bond insurer Financial Guaranty Insurance Co. emerged Tuesday, while testimony on the feasibility of the city's bankruptcy exit plan is expected to come Wednesday, the final day of the historic trial.  more »
Moody's Investors Service dropped its rating on Detroit's $1.5 billion of certificates of participation to C from Ca, saying proposed settlements with insurers mean recoveries well below the Ca category.  more »
Chicago's general obligation bond ratings will remain pressured until the city fully fixes its pension mess, top city finance officials told alderman, while warning City Council not to expect to use reserves to ease the pain of a coming $550 million pension spike.  more »
A Michigan authority created to oversee the disbursement of nearly $200 million of state aid to bankrupt Detroit held its first meeting in Lansing last week.  more »
U.S. Bankruptcy Judge Steven Rhodes is set to rule on Detroit's bankruptcy late in the first week of November, likely putting it past the state's gubernatorial election.  more »
The board of Wayne County, Mich. has rejected a plan to move a half-built abandoned jail site in downtown Detroit, making it more likely the county will restart the controversial, bond-financed project.  more »
Standard & Poor's dropped Higginsville, Missouri's 2010 sewerage system revenue bonds down three notches to the lowest investment grade level Wednesday over its weakened fiscal position.  more »
Detroit's convention center is hitting the market Wednesday with $300 million of bonds that marks its first public offering since it was taken over by a regional authority in 2009.  more »

Americans are suffering the consequences of Congress, governors and legislators across the U.S. pushing the burden of today's costs onto the backs of tomorrow's taxpayers by repeatedly putting off infrastructure repairs and new construction.

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