Yvette Shields

Chicago's lawyers warn that the fiscal well-being of the city and its sister governments hangs in the balance as the Illinois Supreme Court considers whether the state's sovereign police powers trump constitutional protections against cutting pensions.

Edina, Minnesota voters will decide the school district's request for $125 million in borrowing authorization when they vote on May 5 ballot.

Newly installed Illinois Gov. Bruce Rauner's executive order halting new contracts puts a hold on some pending contracts planned by the state's tollway agency and planning work on the proposed Illiana toll road.

Wisconsin Gov. Scott Walker touted tax cuts, the state's structural fiscal strides, and pledged to cuts costs by merging some agencies in a state of the state address that offering no additional specifics on how he plans to erase a looming budget deficit.

Menasha, Wisconsin, which fell into junk bond status after defaulting on notes tied to a power plant conversion project that went awry, has won back its investment grade rating from Moody's Investors Service.

Bondholders will learn later this month how much they stand to recoup from a settlement that ended a trial accusing Morgan Keegan & Co. Inc. of misleading them on a bond deal that soured after the failure of an artificial sweetener plant project in Moberly, Mo.

A settlement was announced Wednesday to end a federal civil trial stemming from a bond default triggered by the collapse of an artificial sweetener plant project in Moberly, Mo; the former Morgan Keegan & Co. Inc. was among the defendants.

Illinois-Based Rush University Medical Center hits the market Thursday with its first time issue in more than five years accompanied by a trifecta of good credit news on the $500 million refunding.

The Illinois attorney general has made her pitch to the state Supreme Court on behalf of legislation designed to restructure the state employee pension system.

Minnesota would impose a tax on wholesale sales of gasoline to help generate at least $800 million in new revenue annually for transportation projects under a proposal unveiled by Senate majority leaders.

Jury selection began Tuesday in a federal class action lawsuit accusing the former Morgan Keegan & Co. Inc. of securities fraud for its role in underwriting $39 million of defaulted bonds for a failed artificial sweetener plant in Moberly, Mo.

A coalition opposed to public funding for stadiums is warning that the proposed St. Louis Rams stadium funding scheme would require a public vote.

Outgoing Illinois Gov. Pat Quinn signed a legislative package that includes a measure setting a special election in 2016 to fill the latter half of the late Judy Baar Topinka's new term as comptroller.

Bruce Rauner took over the Illinois governor's office Monday, vowing to fix the state's bleak finances through shared sacrifice, bolster its competitive edge for business, improve education, and to end "business as usual."

Missouri officials made their pitch Friday to keep the St. Louis Rams in town, unveiling plans for an open-air, nearly $1 billion National Football League stadium partially financed with borrowing.

Illinois lawmakers set a 2016 special election to fill the final two years of the late Judy Baar Topinka's upcoming term as comptroller, in a move attacked by Republicans as a political jab at incoming Gov.-elect Bruce Rauner.

Standard & Poor's has revised Illinois-based Carle Foundation's outlook to positive in recognition of its strong financial performance and improved balance sheet.

Lombard, Ill.'s refusal to cover a debt service shortfall on $190 million of bonds issued for a struggling hotel and conference center has triggered a new payment default.

Illinois and Gov.-elect Bruce Rauner face a sea of red ink because shrinking income tax revenue will fail to keep pace with rising pension and health insurance costs, according to outgoing Gov. Pat Quinn's latest three-year budget forecast.

Illinois Gov.-elect Bruce Rauner named Leslie Geissler Munger to serve the new term of Comptroller Judy Baar Topinka, who died last month after her re-election.