Restructuring on Table for Chicago Suburb’s Defaulted Bonds
Bond insurer ACA Financial Guaranty Corp. will lay out a restructuring plan next week for holders of $160 million of defaulted debt issued by the Chicago suburb of Lombard for its still struggling hotel and conference center.
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After 12 years in Columbus, Megan Kilgore is “moving across the table,” taking a job at the firm, Umbaugh, that is the city’s financial advisor.  more »
Cincinnati is nearing a historic agreement to remedy its long-standing pension shortfall that sparked downgrades and years of court battles with retirees and unions.  more »
Chicago-based investment firm David A. Noyes & Company has hired former Indiana public finance director Mark Moore as part of an expansion of the firm’s Indiana investment banking team.  more »
Members of the community came prepared with questions -- and school officials with answers -- about the district's upcoming $37 million bond proposals during a public meeting Wednesday night at Dowagiac Union High School.  more »
When London City Schools refinanced millions of dollars in bond debt recently, it saved homeowners hundreds of dollars annually in taxes.  more »
Chicago is promoting O’Hare International Airport’s recent growth spurt, improved credit, and conservative debt portfolio as it preps a $2 billion issue that will mark the city’s largest deal ever.  more »
St. Louis’ public finance community will join with the friends and family of Ivy D. Neyland-Pinkston in a celebration of life gathering Saturday to honor the longtime deputy comptroller for finance and development.  more »
Standard & Poor’s upgraded Illinois-based Anderson Hospital two notches citing multi-year operating improvements.  more »
Chapman and Cutler LLP said it was mourning the loss of retired partner Ronald E. Rokosz, described as a “tour de force” who was instrumental in the development of credit enhancement, liquidity facilities and other bank products used in the public finance sector.  more »
Voters within the Jamestown Public School District rejected the school district's bond referendum by 33 votes today, according to unofficial election results posted by Stutsman County.  more »
The Illinois budget stalemate has left Chicago on the hook to cover monthly payments to the trustee on its motor fuel tax bonds because state transfers are trapped without a fiscal 2016 budget.  more »
Milwaukee takes bids Thursday on $180 million of revenue anticipation notes to meet the cash flow needs of the city’s public school district as it awaits tax and aid payments.  more »
Michigan Gov. Rick Snyder said this week the state plans to offer assistance to the city of Flint, which has faced serious drinking water pollution problems since breaking off from the Detroit Water and Sewerage Department last year.  more »

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The choice to pay or not pay debt secured by a statutory lien when bankruptcy commences is entirely in the control of the municipal debtor.

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