Yvette Shields

Lombard, Ill.'s village board isn’t budging from its longstanding position not to make up a shortfall in revenues needed for debt service on its $190 million of defaulted hotel and conference center bonds.

The Minnesota Vikings and U.S. Bank have struck a 20-year naming rights agreement on the National Football League team’s new publicly subsidized stadium that opens next year.

Illinois’ Democrats and Republicans heaped praise on retiring Auditor General William Holland for his office’s independence analysis.

Chicago Mayor Rahm Emanuel is moving up by one month release of a 2016 budget that is expected to address how the city intends to tackle a spike in pension contributions.

Illinois lawmakers plan to begin sending off bills that make up a $36.3 billion fiscal 2016 budget to Gov. Bruce Rauner next week, three weeks after they adopted a spending plan labeled by the GOP leader as “phony.”

Illinois Gov. Bruce Rauner is turning to a television advertising campaign in an attempt to build public support for his position in a budget impasse with the General Assembly’s Democratic majority.

The Chicago City Council votes Wednesday on a $1.1 billion general obligation restructuring that helps the city resolve a liquidity crisis driven by its downgrade to junk while also providing a big dose of budget relief.

Chicago's $1.1 billion general obligation debt restructuring cleared the City Council Finance Committee Monday after a two hour hearing during which new chief financial officer Carole Brown defended plans to roll short-term operating expenses on to the city’s long-term debt load.

Fairfield, Iowa’s rating sank to the lowest investment grade at Moody’s Investors Service, which warned it could drop further over operating deficits that have strained the town’s balance sheet.

St. Olaf College in Minnesota has its rating affirmed by Moody’s Investors Service as the school heads into the market with a $54.4 million new money and refinancing issue.

Non transportation-related capital projects would be put on hold if a budget impasse can’t be bridged by the start of the new fiscal year in two weeks, under a second wave of cuts and management maneuvers laid out by Illinois Gov. Bruce Rauner’s administration.

Moody’s Investors Service labeled Chicago’s shift of its floating-rate general obligation and sales tax paper to fixed-rate structures as a credit positive.

The College of DuPage board hired a consultant after putting its treasurer and controller on paid administrative leave after questions were raised over their investment decisions.

Chicago takes the first step toward moving $1 billion of short-term, cash flow obligations on to its long-term debt load at a City Council hearing Monday.

Chicago officials will seek up to $1.1 billion of general obligation borrowing authority from the City Council to refinance short term paper into a longer term, fixed-rate debt.

If state lawmakers and Gov. Bruce Rauner can’t resolve their differences over a fiscal 2016 budget, the Illinois Hospitals Association is urging them to adopt a temporary spending plan.

Wisconsin plans three bond sales this month beginning Thursday with a $90 million new-money general obligation issue followed by a $128 million clean water revenue refunding issue next week.

Most payments by the Illinois state government will halt if Gov. Bruce Rauner and the General Assembly’s Democratic majority can’t break a logjam over a new budget.

Illinois Gov. Bruce Rauner has extended fiscal aide Donna Arduin’s contract with the administration locked in an impasse over the fiscal 2016 budget with the legislature’s Democratic majority.

The potential liquidity crisis triggered by another rating agency’s downgrade to junk was a short term headache Chicago could handle, according to the Kroll Bond Rating Agency, which affirmed the city.