Yvette Shields

Chicago named one of its financial consultants, Martin J. Luby, as its independent registered municipal advisor to evaluate financing proposals as it seeks to comply with new regulations without stemming creative financing suggestions.

The Chicago Public Schools unveiled a proposed $5.7 billion fiscal 2015 budget that relies on a windfall of property tax dollars by extending its collection cycle into the next fiscal year to help wipe out a $900 shortfall.

Illinois retiree healthcare premium subsidies are protected by the state constitution, the Illinois Supreme Court concluded in a challenge that could foreshadow the fate of the state's more recent pension overhaul.

Illinois entered the new fiscal year Tuesday with $4.6 billion in unpaid bills and another $1.1 billion expected in the coming months, according to data provided by Illinois Comptroller Judy Baar Topinka's office.

Chicago will host its annual investors' conference on Friday, Aug. 8 to update market participants on the city's credit including progress made over the last year on the pension front and ongoing strains.

Illinois Gov. Pat Quinn vetoed $250 million in spending for state capitol renovations as he signed into law a series of bills that make up much of the state’s $35.7 billion budget for the fiscal year that begins Tuesday.

Many highly-rated sewer utility credits can weather federal consent decrees that mandate substantial upgrades with proper management and planning for the increased costs, Moody's Investors Service concludes in a new report.

Three of Illinois' five pension funds have revised their investment rate of returns, a move that could drive up the state's future projected contributions and cut in the savings of the pension overhaul adopted by lawmakers.

The Chicago Public Schools announced plans to cut more than 1,000 employees in a move that comes ahead of the district's release of a fiscal 2015 budget that must close a nearly $1 billion budget gap.

Missouri Gov. Jay Nixon slashed $800 million in spending in the fiscal 2015 budget warning the cuts were needed to keep the budget balanced due to the threat that lawmakers might restore a series of vetoed tax breaks.

Harvey, Ill. and its comptroller, Joseph T. Letke, are accused of misusing bond proceeds and misrepresenting investment risks in a civil complaint filed by the Securities and Exchange Commission that led to an injunction blocking an upcoming issue planned by the Chicago suburb.

The Western Minnesota Municipal Power Agency is touting its strong financial profile and solid ratings as it prepares to double its debt load with a $320 million issue Thursday to finance a new hydroelectric plant that will bolster its renewable energy generating sources

Three members of Illinois' congressional delegation are calling on the Federal Aviation Administration to complete a new environmental impact study and hold new public hearings on Chicago's $8 billion runway expansion.

Chicago has reached a tentative five-year contract with the American Federation of State, County, and Municipal Employees Council 31 on Thursday.

Public distrust and confusion over public-private partnerships along with the lack of creative thinking on the technology front are among the constraints Chicago confronts as it looks to address its infrastructure needs, said panelists at a forum.

Wisconsin Gov. Scott Walker participated in a "criminal scheme" to illegally coordinate fundraising and campaign activity among conservative groups fighting recall elections that targeted him and Republican state senators, state prosecutors allege in newly unsealed court documents.

The 2013 actuarial reports for the two Chicago pension funds that were the subject of a legislative fix underscore their troubled conditions prior to the overhaul even as one reported a slight improvement.

Two Chicago-based health systems — Alexian Brothers Health System and Adventist Midwest Health — intend to join forces to create a joint operating company with a combined nine hospitals.

The Chicago Infrastructure Trust has begun negotiations with private partners, advancing plans to finance energy upgrades to as many as 141 city pools, and is eyeing a Property Assessed Clean Energy program.

In a major development, Detroit bankruptcy mediators announced a settlement on the treatment of the city's limited tax general obligation bonds. Terms were not immediately disclosed.