Yvette Shields

CHICAGO — The Missouri Highways and Transportation Commission enters the market this week with $185 million of Garvee bonds to complete the financing of its Safe and Sound bridge program and to fund its share of a new span across the Mississippi River.

Indianapolis-based Ice Miller LLP announced yesterday the addition of Bruce Agin to bolster its municipal finance tax group.

Minnesota Gov. Tim Pawlenty this week sent lawmakers legislation that calls for business tax cuts and eliminates a $1.2 billion budget deficit through spending cuts and increased federal Medicaid funds not yet approved by Congress.

Moody's Investors Service assigned a negative outlook last week to the Greater Cleveland Regional Transit Authority's outstanding limited-tax general obligation debt, saying it faces a number of economic and fiscal challenges, including depleted reserves and a steep decline in its main revenue source.

Troy and Bloomfield Township voters in a special election next week will consider ballot initiatives to raise property taxes to avoid cuts. Officials say the new revenue is needed to cover expected declines in property tax revenue over the next several years.

Moody's Investors Service has revised its outlook to stable from positive on Bethel Terrace Apartments' Baa3 rating due to a significant decrease in investment earnings.

Moody's Investors Service downgraded the Springfield Park District's debt to Baa1 from A3 and assigned a negative outlook due to the district's narrowed financial position.

A DuPage County Circuit Court judge last week handed over the title of St. Johannes Cemetery to Chicago, advancing the city's effort to clear a path for one of several new runways planned as part of the $8 billion expansion of O'Hare International Airport.

Chicago Mayor Richard Daley last week ordered city departments to cut non-personnel spending by 6% to save $11 million as economically sensitive revenues like the sales tax and real estate tax have failed to pick up.

CHICAGO — Illinois later this week will refund up to $1.4 billion of general obligation bonds in a deal that should provide some small but much-needed debt service savings as Gov. Pat Quinn and lawmakers move to begin addressing the state’s liquidity and budget crisis.

CHICAGO — The Chicago Transit Authority board this week signed off on the agency’s planned sale of $550 million of sales tax-backed, mostly taxable Build America Bonds to finance the acquisition of new rail cars.

CHICAGO — Minnesota Gov. Tim Pawlenty outlined a broad legislative agenda yesterday in his final state of the state address, which focused on job creation, cutting taxes for employers, reining in government spending and eliminating a $1.2 billion budget deficit through cuts.

CHICAGO — The Illinois Finance Authority this week advanced plans for $750 million of health care borrowing planned by Alexian Brothers Health System, the University of Chicago Medical Center, Palos Community Hospital, and a continuing-care community.

CHICAGO — The fiscal strain in Illinois that has led to record long bill payment delays this week prompted Moody’s Investors Service to downgrade five of eight state-supported universities that are owed $735 million by the state.

CHICAGO — As the Minnesota Senate moved yesterday to advance a $1 billion capital budget, Moody’s Investors Service sent a credit warning by shifting its outlook on the state’s Aa1 rating to negative due to ongoing fiscal weakness and heavy reliance on one-shots to balance its books.

Standard & Poor’s last week ­upgraded by one notch to A-plus its rating on the Plymouth Joint School ­District due to its maintenance of strong reserves.

Wisconsin Gov. Jim Doyle last week signed legislation that advances state efforts to capitalize on its share of recovery zone facility bonds authorized in the federal stimulus program.

Standard & Poor’s last week upgraded the rating of West Chicago by two notches to AA-plus based on the city’s strong financial position.

Two rating agencies have revised Provena Health’s outlook to stable from negative ahead of its $126 million debt restructuring that took place on Monday.

CHICAGO — New York-based Rice Financial Products has promoted chief financial officer Cristal Baron to president as the firm seeks to capitalize on its evolution from a derivatives boutique to a full-service broker-dealer by carving out a bigger chunk of book-running business.