Revenue Estimates Place Wisconsin Budget in the Red
Wisconsin must close a $283 million gap this year and erase another $648 million more of red ink in following two years to keep its books balanced, according to the latest revenue forecast that will guide the crafting of a new two year spending plan.
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Indiana will apply for a $170 million TIFIA loan to help cover payments to the private team on the $2.3 billion Ohio River Bridges project.  more »
Wisconsin would divert future growth in income taxes paid by Milwaukee Bucks players and visiting teams to repay $220 million in state appropriation-backed borrowing to help finance a new professional basketball arena under a plan Gov. Scott Walker will include in his new budget.  more »
It could be a crucial year for Detroit Public Schools as Michigan Gov. Rick Snyder, Detroit Mayor Mike Duggan and a newly created coalition of Detroit leaders take on problems at the long-troubled district.  more »
Standard & Poor's has revised its outlook on Columbia College Chicago's underlying BBB-plus rating to negative from stable over its operational struggles and management turnover.  more »
Chicago's O'Hare International Airport reclaimed the title of world's busiest airport in 2014 a decade after ceding the status to Atlanta's Hartsfield-Jackson Memorial Airport.  more »
The Illinois Supreme Court denied requests by Chicago, other issuers, several civic groups, and a municipal lawyers group to file briefs supporting Illinois Attorney General Lisa Madigan's defense of state pension reforms.  more »
Michigan's proposal to raise the sales tax to generate new road funding would also generate fresh dollars for school districts, Moody's Investors Service said Friday.  more »
The Chicago region needs $16.6 billion over the next decade for routine transit maintenance and capital spending with another $19.5 billion tacked on to the tab to cover deferred investment, the Regional Transportation Authority warned.  more »
Illinois Gov. Bruce Rauner has imported three outsiders all with government experience to lead a "turnaround team" that includes the new position of chief financial officer to be filled by consultant Donna Arduin. He also named former Hawaii Gov. Linda Lingle and former Georgia COO Trey Childress to his team.  more »
An Indiana state representative's bill would only allow issuers to propose borrowing and tax levy questions during general elections in order to boost voter participation.  more »
Missouri Gov. Jay Nixon unveiled a fiscal 2016 budget that begins drawing on existing bonding authority to fund more than $300 million in projects at state facilities and public higher education institutions as the new legislative session kicks into high gear.  more »
A proposed bill requiring Nebraska issuers to boost disclosure and stress bondholders' lack of priority over pensioners could spook national investors and drive up borrowing costs, some market participants warned state lawmakers Wednesday.  more »
Chicago and its south suburban neighbor Harvey have struck a $20 million settlement that resolves a dispute over the suburb’s delinquent payments for city-supplied water.  more »

Contrary to the assertion in a Bond Buyer article that the 2010s may turn out to be the decade of the municipal bankruptcy, it is remarkable how few muni bankruptcies were sought in the wake of the most severe fiscal crisis to hit local governments since the Great Depression.

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