Yvette Shields

Clare Oaks' history of fiscal struggles resulted in two bankruptcy filings, the most recent leading to a bond exchange in 2020.

If approved by the local governing bodies, Milwaukee could raise nearly $180 million more annually from the new sales tax and the county $80 million from a hike, according to estimates.

CPS expects to close the current fiscal year with a clean slate on short-term borrowing for a second year in a row but it will still rely on TANs to manage liquidity throughout the next fiscal year.

"Stakeholders believe the best solution is to utilize the bankruptcy process to run a marketing and sale process," Friendship Village of Schaumburg said in a statement.

The report provides the first step in assessing what level of benefit enhancement is needed before further state action is taken on Tier 2 pension benefits.

Nuveen's investment featured prominently in a settlement ending Preston Hollow's four-year legal pursuit of Nuveen for using what one judge labeled as "lies" and "threats" to damage its access to deals.

The City-County Council signed off on up to $625 million of borrowing for a city-owned convention center hotel after a developer-financed plan fell through.

Cook County, local governments, transit agencies, and the education and hospital sectors all benefit from bills passed by Illinois lawmakers.

The system is incorporating some floating-rate risk into its fixed-rate debt portfolio to allow for strategic flexibility after its new hospital campus opens.

BJC HealthCare and Saint Luke's Health System signed a letter of intent to form an integrated not-for-profit Missouri-based health system.

State legislation that increases Milwaukee's revenue prospects falls short of what the city needs to manage rising pension and other costs, Fitch Ratings said.

"We are looking for parity with what's in Joliet contract. That is what would successfully allow us to work with the city of Chicago and that would make that alternative the preferred alternative over a new source water project," the commission's Paul May said.

To date, 332 of the 357 funds have transferred approximately $9.1 billion in assets to the consolidated fund, with most holdouts participating in the lawsuit.

All constitutional options need to be on the table, state Sen. Robert Martwick said, including fund consolidation, pension obligation bonds, new taxes and more.

"It's positive to see the proposed budget relies on fairly conservative revenue assumptions and provides additional funding for pensions and education," Molly Shellhorn, senior research analyst for municipals at Nuveen said.

A top advisor to Brandon Johnson said his administration is still waiting on the advice of incoming CFO Jill Jaworski and budget director Annette Guzman.

Nathan Flynn will focus on coverage of Midwest and Southeast borrowers and provide an assist on structuring and project financing more broadly, Siebert said.

The $2.6 billion infrastructure budget stands out as the state's largest ever; bond packages stalled in the previous two years amid political divisions.

Inflation joined supply chain struggles, wage pressures, and the labor shortage — most acutely felt with nursing staff — dragging down the sector's margins.

With a healthy surplus built over several years, the state adopted a series of tax relief measures. Those actions, along with robust growth in fiscal 2022 that triggered an automatic tax cut, are driving revenue projections lower.